Code of Business Ethics for Senior Financial Officers


December 9, 2003
PACCAR Inc
CODE OF ETHICS for SENIOR FINANCIAL OFFICERS

This Code of Ethics for Senior Financial Officers (“Code of Ethics”) applies to PACCAR’s principal executive officer, principal financial officer and principal accounting officer (the “Senior Financial Officers”), who shall each sign an acknowledgement that he or she is subject to this Code of Ethics, using the form attached as Exhibit A. The requirements of this Code of Ethics supplement the Company’s Code of Business Conduct.

The Senior Financial Officers are subject to the following policies and requirements:

  1. 1. The Senior Financial Officers are required to conduct themselves at all times in an honest and ethical manner, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships, and to comply with all applicable governmental laws, rules and regulations.
  2. 2. The Senior Financial Officers are responsible for full, fair, accurate, timely and understandable disclosure in the periodic reports required to be filed by PACCAR with the Securities and Exchange Commission.
  3. 3. The Senior Financial Officers are responsible for establishing, maintaining and evaluating PACCAR’s internal auditing and disclosure controls and procedures to ensure that all material accounting, financial and business information is made  available to the PACCAR Disclosure Committee.
  4. 4. The Senior Financial Officers shall promptly bring to the attention of the General Counsel and the Audit Committee any information he or she may have concerning (i) any violation of this Code of Ethics, (ii) evidence of a material violation by PACCAR or by any agent thereof of the laws, rules or regulations applicable to PACCAR and the operation of its business,  and (iii) any actual or apparent conflicts of interest between personal and professional relationships involving any  management or other employees who have a significant role in PACCAR’s financial reporting, disclosures or internal controls.
  5. 5. The Board of Directors shall determine, or designate one or more individuals to determine, appropriate disciplinary actions  to be taken in the event of violations of this Code of Ethics by any Senior Financial Officer.
Exhibit A

I, ______________________(name) am the ______________(title) of PACCAR Inc and I hereby acknowledge that I am the (principal executive officer / principal financial officer / principal accounting officer) of PACCAR and one of the “Senior Financial Officers” identified in and subject to PACCAR’s Code of Ethics for Senior Financial Officers. I will comply with all of the policies and requirements of the Code of Ethics for Senior Financial Officers.

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Date: ______________________________
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