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Iveco Opens N. American Ops

Maritime Activity Reports, Inc.

March 16, 2004

Iveco, a leading Italian manufacturer of commercial vehicles and diesel engines, announced the opening of its U.S. engine operations, Iveco Motors of North America, in conjunction with the unveiling of their new brand name, Iveco Motors.

Serving 79 countries with their acclaimed diesel engines, Iveco Motors opened North American operations in Carol Stream, IL to respond to the demands of the growing Canadian and the U.S. marketplace. The new U.S. operation will serve as an independent engine business that will focus on application development, sales, marketing and support of Iveco’s total line of engines. The new location will include a full service and parts department to assure OEM’s 100% customer satisfaction.

“Iveco Motors’ expansion into North America shows the company’s commitment to providing global customers with the best engines in the marketplace, and a pledge to product support and customer service,” says Vincenzo Perrone, General Manager, Iveco Motors of North America. “This operation also supports our international OEM’s and worldwide sales efforts.”

Iveco Motors’ complete line of diesel engines covers outputs from 40 to 2150hp and are designed for industrial, agricultural, marine and power generation applications. All engines have a high technological design and first-rate assembly process to obtain perfectly clean engines. They all comply with the strictest of certification standards, emission control regulations, and are EPA Tier 2 certified.

Iveco Motors of North America, Inc. is a U.S. corporation fully owned subsidiary of Iveco S.p.A, which is part of the Fiat group. Fiat S.p.A. shares trade on the New York Stock Exchange under the symbol FIA.

The newly opened Iveco Motors of North America is located at 245 E. North Avenue in Carol Stream, IL.

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