June 17, 1999

Steve Keate Named President of Navistar's Truck Group

CHICAGO, June 17 -- Navistar International Corporation (NYSE: NAV), producer of International® brand trucks, buses and engines, today announced that Steve Keate has been named president of the company's Truck Group effective immediately. Keate most recently served as group vice president and general manager of the heavy vehicle business, where he led a team that significantly improved profitability and competitiveness. Under Keate's leadership, the heavy vehicle center introduced several highly successful vehicles, focused on understanding and meeting customer needs and aggressively reduced costs.

Keate succeeds Don DeFosset, who has left the company to pursue other opportunities. DeFosset is credited with major contributions to the success of the company, including strengthening customer satisfaction and relationships with key stakeholders as well as leading major improvements in productivity and operating results.

"Steve Keate is the right leader to continue our aggressive momentum and drive it to the next level," said John Horne, Navistar chairman, president and chief executive officer. "He has exhibited strong strategic and leadership skills as well as a relentless passion for motivating his team to execute with precision and speed. Importantly, not only does he have great vision, he is willing to roll up his sleeves and get the job done."

Keate joined Navistar in March 1995 as vice president and corporate controller and was a key architect in Navistar's dramatic improvement in shareowner value as he led the development of the company's five-point truck strategy and developed other programs aimed at increasing shareowner value. These programs contributed significantly to the dramatic increase in the company's stock price, which has risen approximately 475 percent since 1995.

Reflecting upon Navistar's new culture, which is based on high performance and respect for people, Horne said, "Steve's tough mind and collegial style personify the kind of leaders we're developing for the future."

Keate said his initial focus is to drive operational excellence and increase the equity of the International brand through an aggressive marketing campaign.

"We have exceptional products, strong customer loyalty and the best distribution channel in the industry," Keate said. "We need to improve our understanding of our customers' business and with this knowledge, develop unique product and service solutions aimed at providing them with a competitive advantage."

Prior to joining Navistar, Keate was vice president and controller of General Dynamics. He received a BS degree in business administration/marketing from San Jose State and an MBA in finance from the University of San Diego.

Navistar International Corporation, with world headquarters in Chicago, and 1998 sales and revenues of $7.9 billion, is the leading North American producer of heavy and medium trucks and school buses. The company is a worldwide leader in the manufacture of mid-range diesel engines, which are produced in a range of 160 to 300 horsepower for the International brand, and a private-label designer and manufacturer of diesel engines for full-size pickup truck and van markets and selected industrial and off-highway markets.


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