Navistar appoints Vincent J. Intrieri and Mark H. Rachesky to Board Of Directors

Company to add a third director designated and mutually agreed upon by Icahn Partners and MHR Fund Management, pursuant to settlement agreement

Dr. Rachesky is the President of MHR Fund Management LLC ("MHR"), an investment firm that he founded in 1996. MHR has in excess of $5 billion of assets under management and takes a highly differentiated, control-focused, private equity approach to investing in distressed and undervalued middle-market companies. Dr. Rachesky currently serves as Chairman of the Board of Lions Gate Entertainment Corp., Loral Space & Communications Inc., Telesat Holdings Inc. and Leap Wireless International Inc. Dr. Rachesky holds a B.S. in molecular aspects of cancer from the University of Pennsylvania, a M.D. from the Stanford University School of Medicine and a M.B.A. from the Stanford University School of Business.

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