PACCAR INC — Director's Dealing 2004

Feb 28, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PACCAR INC (PCAR)
CIK: 0000075362
Period of Report: 2004-02-26

Reporting Person: GRINSTEIN GERALD (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-26	PHANTOM STOCK UNITS	$	A	136.39	Acquired		COMMON STOCK (136.39)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	10836	Direct

Footnotes

F1: On December 9, 2003 PACCAR declared a stock dividend payable February 5, 2004 to all holders of record of common stock on January 19, 2004 of one additional share of common stock for every two shares of common stock. As a result of the stock dividend the reporting person received 3,612 additional shares of PACCAR common stock on February 5, 2004.

F2: The units are to be settled 1-for-1 in PACCAR common stock upon termination of the Reporting Person's status as a non-employee director.

F3: Cash compensation deferred into phantom stock account under PACCAR Restricted Stock and Deferred Compensation Plan for Non-Employee Directors (RSDCP).

F4: Pursuant to the anti-dilution provisions of the RSDCP, total adjusted by 118.64 additional units to reflect 50% stock dividend.