IC CORPORATION UNVEILS NEW TIRE FOR SCHOOL BUSES

Adds Hankook Tires to Keep Bus Prices in Check
During Global Tire Shortage

WARRENVILLE, Ill. (Mar. 24, 2006) - IC Corporation, North America's largest school bus manufacturer, has announced a new tire available on its school buses reflecting the changing tire market. The serious and significant global tire shortage impacting bus and truck manufacturers continues to worsen. It exhibits no signs of abating as worldwide tire demand increases, raw-material scarcities persist and the general economy improves.

This has caused tire prices to increase significantly. In order to help school bus customers who are continually forced to battle budget constraints, IC Corporation is working to stem the rising costs by implementing a new tire supplier - Hankook Tire America Corp.

Effective April 2006, IC Corporation will use tires from Hankook Tire to augment tire supplies from its traditional suppliers for school buses. Hankook will be the standard tire selection on all IC Corporation buses, unless the customer specifically chooses another brand of tires for their buses.

Hankook Tire is a proven 64-year global supplier of tires to major automakers such as Ford and Volkswagen. It supplies, for instance, hundreds of thousands of tires for Ford's popular F-150 pickup truck. Hankook has a global distribution network and research-and-development centers on three continents.

"Hankook Tires meet our stringent requirements for quality, price and delivery and carry a warranty that is as good as, if not better than, the warranty on other tires," said Michael Cancelliere, vice president and general manager at IC Corporation. "We believe that adding Hankook Tires to IC Corporation's offering will prove particularly attractive to price-conscious customers who are less brand-sensitive," added Cancelliere. "This solution will ensure a consistent supply of government-certified quality tires that are also competitively priced."

About IC Corporation

IC Corporation, the nation's largest integrated school bus manufacturer, is a wholly owned subsidiary of International Truck and Engine Corporation. International produces school bus chassis, mid-range diesel engines, medium trucks, heavy trucks, severe service vehicles, and is a provider of parts and service sold under the International brand. Both IC and International are subsidiaries of Navistar International Corporation (NYSE: NAV). Additional information is available site at: www.ic-corp.com.