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<SEC-DOCUMENT>/in/edgar/work/0000950153-00-001407/0000950153-00-001407.txt : 20001024
<SEC-HEADER>0000950153-00-001407.hdr.sgml : 20001024
ACCESSION NUMBER:		0000950153-00-001407
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		4
REFERENCES 429:			333-73357
FILED AS OF DATE:		20001023

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERCO /NV/
		CENTRAL INDEX KEY:			0000004457
		STANDARD INDUSTRIAL CLASSIFICATION:	 [7510
]		IRS NUMBER:				880106815
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		S-3
			SEC ACT:		
			SEC FILE NUMBER:	333-48396
			FILM NUMBER:		743834
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		1325 AIRMOTIVE WY STE 100
				CITY:			RENO
				STATE:			NV
				ZIP:			89502
				BUSINESS PHONE:		7756886300
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		1325 AIRMOTIVE WAY
					STREET 2:		SUITE 100
					CITY:			RENO
					STATE:			NV
					ZIP:			89502
</MAIL-ADDRESS>

					FORMER COMPANY:	
						FORMER CONFORMED NAME:	AMERCO
						DATE OF NAME CHANGE:	19770926
</FORMER-COMPANY>
</FILER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>p63987s-3.htm
<DESCRIPTION>S-3
<TEXT>

<HTML>
<HEAD>
<TITLE>s-3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<P align="center"><B>As filed with the Securities and Exchange Commission on
October&nbsp;20, 2000.</B>

<DIV align="right">
<B>Registration No.&nbsp;333-
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B>
</DIV>

<DIV align="left">
<HR size="1" width="100%" align="left">
</DIV>

<DIV align="left">
<HR size="1" width="100%" align="left">
</DIV>

<DIV align="center">
<B><FONT size="5">SECURITIES AND EXCHANGE COMMISSION</FONT></B>
</DIV>

<DIV align="center">
<B>Washington, D.C. 20549</B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center">

<P align="center">
<B><FONT size="5">FORM S-3</FONT></B>

<DIV align="center">
<B>REGISTRATION STATEMENT</B>
</DIV>

<DIV align="center">
<B>UNDER</B>
</DIV>

<DIV align="center">
<B>THE SECURITIES ACT OF 1933</B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center">

<P align="center">
<B><FONT size="6">AMERCO</FONT></B>

<DIV align="center">
<B><FONT size="2">(Exact name of registrant as specified in its
charter)</FONT></B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="57%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="40%">&nbsp;</TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	<B>Nevada</B></FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	<B>88-0106815</B></FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	<B>(State or other jurisdiction of</B></FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	<B>(I.R.S. Employer</B></FONT></TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	<B>of incorporation or organization)</B></FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	<B>Identification No.)</B></FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">
<B>1325 Airmotive Way, Suite&nbsp;100</B>

<DIV align="center">
<B>Reno, Nevada 89502-3239</B>
</DIV>

<DIV align="center">
<B>(775)&nbsp;688-6300</B>
</DIV>

<DIV align="center">
<B><FONT size="2">(Address, including zip code, and telephone
number, including area code,</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">of registrant&#146;s principal executive
offices)</FONT></B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center">

<P align="center">
<B>Gary V. Klinefelter, Esq.</B>

<DIV align="center">
<B>Secretary and General Counsel</B>
</DIV>

<DIV align="center">
<B>AMERCO</B>
</DIV>

<DIV align="center">
<B>1325 Airmotive Way, Suite&nbsp;100</B>
</DIV>

<DIV align="center">
<B>Reno, Nevada 89502-3239</B>
</DIV>

<DIV align="center">
<B>(775)&nbsp;688-6300</B>
</DIV>

<DIV align="center">
<B>(Name, address, including zip code, and telephone number,
including</B>
</DIV>

<DIV align="center">
<B>area code, of agent for service)</B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center">

<P align="center">
<B><I>Copy to:</I></B>

<P align="center">
<B>Jon S. Cohen</B>

<DIV align="center">
<B>Michael M. Donahey</B>
</DIV>

<DIV align="center">
<B>Snell &#38; Wilmer L.L.P.</B>
</DIV>

<DIV align="center">
<B>One Arizona Center</B>
</DIV>

<DIV align="center">
<B>Phoenix, Arizona 85004-0001</B>
</DIV>

<DIV align="center">
<B>(602)&nbsp;382-6000</B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center">

<P align="left">
<B><FONT size="2">Approximate date of commencement of proposed
sale to the public:</FONT></B><FONT size="2"> From time to time
after this Registration Statement becomes effective.</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;If the only securities
being registered on this form are being offered pursuant to
dividend or interest reinvestment plans, please check the
following box:&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;If any of the securities
being registered on this form are to be offered on a delayed or
continuous basis pursuant to Rule&nbsp;415 under the Securities
Act of 1933, other than securities offered only in connection
with dividend or interest reinvestment plans, check the following
 box:&nbsp;&nbsp;[X]</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;If this form is filed to
register additional securities for an offering pursuant to
Rule&nbsp;462(b) under the Securities Act, please check the
following box and list the Securities Act registration statement
number of the earlier effective registration statement for the
same offering:&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;
<HR size="1" width="18%" align="left"></FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;If this form is a
post-effective amendment filed pursuant to Rule&nbsp;462(c) under
 the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier
effective registration statement for the same
offering:&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;
<HR size="1" width="18%" align="left"></FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;If delivery of the
prospectus is expected to be made pursuant to Rule&nbsp;434,
please check the following box:&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]
</FONT>

<P align="center"><B>Calculation of Registration Fee</B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="29%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="20%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="20%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="22%">&nbsp;</TD>
</TR>

<TR>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="7"><HR size="1"></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="7"><HR size="1"></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Title of Class</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Amount</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Proposed Maximum</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Amount of</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>of Securities</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>to be</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Aggregate</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Registration</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>to be Registered</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Registered</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Offering Price(1)(2)</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Fee(3)</B></FONT></TD>
</TR>

<TR>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="7"><HR size="1"></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Debt Securities</FONT></TD>
	<TD></TD>
	<TD align="center" valign="bottom"><FONT size="2">
	$200,000,000</FONT></TD>
	<TD></TD>
	<TD align="center" valign="bottom"><FONT size="2">
	$200,000,000</FONT></TD>
	<TD></TD>
	<TD align="center" valign="bottom"><FONT size="2">
	$52,800</FONT></TD>
</TR>

<TR>
	<TD colspan="7" align="left"><HR size="1"></TD>

</TR>

<TR>
	<TD colspan="7" align="left"><HR size="1"></TD>

</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(1)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">In U.S. dollars or the equivalent thereof in
	foreign currencies, composite currencies or currency units.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(2)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Exclusive of accrued interest and distributions,
	if any.</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(3)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Calculated pursuant to Rule&nbsp;457 of the rules
	and regulations under the Securities Act of 1933.</FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule&nbsp;429
under the Securities Act of 1933, this Registration Statement
contains a combined prospectus relating to the $200,000,000
principal amount of securities registered hereby and $500,000,000
 principal amount of securities registered on March&nbsp;4, 1999
pursuant to Registration Statement No.&nbsp;333-73357, of which
$150,000,000 remains available for issuance thereunder. A filing
fee of $139,000 was paid in connection with Registration
Statement No.&nbsp;333-73357, of which $41,700 was attributable
to the $150,000,000 in securities that remain subject to such
Registration Statement.</FONT>

<P align="center">
<HR size="1" width="30%" align="center">

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;The Registrant hereby
amends this registration statement on such date or dates as may
be necessary to delay its effective date until the Registrant
shall file a further amendment which specifically states that
this registration statement shall thereafter become effective in
accordance with Section&nbsp;8(a) of the Securities Act of 1933
or until the registration statement shall become effective on
such date as the Commission, acting pursuant to said
Section&nbsp;8(a), may determine.</FONT></B>

<DIV align="left">
<HR size="1" width="100%" align="left">
</DIV>

<DIV align="left">
<HR size="1" width="100%" align="left">
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>

<TABLE width="100%" border="1" cellpadding="5"><TR><TD>
<B><FONT color="#FF0000">The information in this prospectus is
not complete and may be amended. We cannot sell these securities
until the registration statement filed with the Securities and
Exchange Commission is effective. This prospectus is not an offer
 to sell these securities and is not soliciting an offer to buy
these securities in any state where the offer or sale is not
permitted. <BR>
</FONT></B>
</TD></TR></TABLE>

<P align="center"><B>Subject To Completion, Dated October&nbsp;20, 2000</B>

<P align="left">Prospectus

<P align="center">
[UHAUL LOGO]

<P align="center">
<B><FONT size="6">AMERCO</FONT></B>

<P align="center">
$350,000,000

<DIV align="center">
Debt Securities
</DIV>

<P align="left">
AMERCO

<DIV align="left">
1325 Airmotive Way, Suite&nbsp;100
</DIV>

<DIV align="left">
Reno, Nevada 89502-3239
</DIV>

<DIV align="left">
(775) 688-6300
</DIV>

<P align="left">
We are a holding company for U-Haul International, Inc., Republic
 Western Insurance Company, Oxford Life Insurance Company, and
Amerco Real Estate Company. U-Haul comprises greater than 80% of
our total revenue and is our most notable business. The trading
symbol for our common stock on the NASDAQ is &#147;UHAL.&#148; We
 do not expect any of these debt securities to officially trade
in any public market.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	We may use this prospectus from time to time to offer unsecured
	debt securities in one or more series.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Specific terms of these debt securities will be set forth in a
	supplement to this prospectus.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	The total of all debt securities offered will not exceed
	$350,000,000.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	We may sell debt securities directly to purchasers, through
	underwriters, dealers or agents or through any combination of
	these methods.</TD>
</TR>

</TABLE>

<P align="center">
<HR size="1" width="93%" align="center">

<P align="left">
This investment involves a high degree of risk. Before making an
investment in our debt securities, you should carefully consider
certain risks described in &#147;Risk Factors&#148; on
page&nbsp;7.

<P align="left">
This prospectus may not be used to consummate a sale of debt
securities unless accompanied by a prospectus supplement
applicable to such debt securities.

<P align="left">
Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these
securities or determined if this prospectus is accurate or
complete. Any representation to the contrary is a criminal
offense.

<P align="center">
<HR size="1" width="93%" align="center">

<P align="center">
October&nbsp;&nbsp;&nbsp;&nbsp;, 2000
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="center"><B>TABLE OF CONTENTS</B>

<CENTER>
<TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="90%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="2%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="2%">&nbsp;</TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Page</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	About this Prospectus</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Where You Can Find More Information</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Special Note of Caution Regarding Forward Looking Statements</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	About AMERCO</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	The Offering</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Risk Factors</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">7</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Use of Proceeds</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Ratio of Earnings to Fixed Charges</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Description of Debt Securities</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Plan of Distribution</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">21</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Legal Opinions</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">22</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Experts</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">22</FONT></TD>
	<TD></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<B>You should not rely on any information you receive that is not
 either contained in, or referred to in, this prospectus or any
prospectus supplement. Neither AMERCO nor any underwriter, dealer
 or agent has authorized anyone to provide you with any other
information. This prospectus does not constitute an offer for any
 securities other than those specifically referred to in this
document. We are not making an offer of these securities in any
state where the offer is not permitted. There is no implication
that the information in this prospectus or any prospectus
supplement is accurate as of any date other than the date on the
front of those documents.</B>

<P align="center">i
<!-- PAGEBREAK -->
<P><HR noshade><P>

<!-- link1 "ABOUT THIS PROSPECTUS" -->

<P align="center"><B><FONT size="4">ABOUT THIS PROSPECTUS</FONT></B>

<P align="left">
This prospectus is part of a registration statement that we filed
 with the Securities and Exchange Commission utilizing a
&#147;shelf&#148; registration process. Under this shelf process,
 we may, over the next two years, use the registration statement
and the shelf process to sell any combination of the debt
securities described in this prospectus in one or more offerings
up to a total dollar amount of $350,000,000. This prospectus
provides you with a general description of the debt securities we
 may offer. Each time we sell debt securities, we will provide a
prospectus supplement that will contain specific information
about the terms of that offering. The prospectus supplement may
also add, update or change information contained in this
prospectus. It is important for you to carefully read both this
prospectus and any prospectus supplement together with additional
 information described under the heading &#147;Where You Can Find
 More Information&#148; in making your investment decision.

<P align="left">
For more detail, you should read the exhibits filed with our
registration statement.

<!-- link1 "WHERE YOU CAN FIND MORE INFORMATION" -->

<P align="center"><B><FONT size="4">WHERE YOU CAN FIND MORE INFORMATION</FONT></B>

<P align="left">
We file annual, quarterly and special reports and other
information with the SEC. Our SEC filings are available to the
public over the internet at the SEC&#146;s web site at
http://www.sec.gov. You may also read and copy any document we
file at the SEC&#146;s public reference rooms in Washington,
D.C., New York, New York, and Chicago, Illinois. Please call the
SEC at 1-800-SEC-0330 for further information on the public
reference rooms.

<P align="left">
The SEC allows us to &#147;incorporate by reference&#148; the
information we file with them, which means that we can disclose
important information to you by referring you to those documents.
 The information incorporated by reference is an important part
of this prospectus, and information that we file later with the
SEC will automatically update and supersede this information. We
incorporate by reference the documents listed below and any
future filings made by us with the SEC under Sections&nbsp;13(a),
 13(c), 14 or 15(d) of the Securities Exchange Act of 1934 until
we or the underwriters sell all of the securities that we have
registered.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Annual Report on Form&nbsp;10-K for the fiscal year ended
	March&nbsp;31, 2000; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Quarterly Report on Form&nbsp;10-Q for the quarter ended
	June&nbsp;30, 2000.</TD>
</TR>

</TABLE>

<P align="left">
You may request a copy of these filings at no cost by writing or
telephoning us at the following address:

<P align="left">
AMERCO&nbsp;&#151; Investor Relations

<DIV align="left">
1325 Airmotive Way, Suite&nbsp;100
</DIV>

<DIV align="left">
Reno, Nevada 89502-3239
</DIV>

<DIV align="left">
telephone: (775)&nbsp;688-6300
</DIV>

<P align="left">
Additionally, our summary quarterly financial reports can be
found on our home page on the Internet at: http://www.uhaul.com.
Such information, however, will not be deemed to be incorporated
by reference in this prospectus.

<P align="center">1

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<P align="left">
You should rely only on the information incorporated by reference
 or provided in this prospectus or any prospectus supplement. We
have not authorized anyone else to provide you with different
information. We are not making an offer of these securities in
any state where the offer is not permitted. You should not assume
 that the information in this prospectus or any prospectus
supplement including any pricing supplement is accurate as of any
 date other than the date on the front of those documents.

<P align="center">2
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<!-- link1 "SPECIAL NOTE OF CAUTION REGARDING FORWARD-LOOKING STATEMENTS" -->

<P align="center"><B><FONT size="4">SPECIAL NOTE OF CAUTION REGARDING</FONT></B>

<DIV align="center">
<B><FONT size="4">FORWARD-LOOKING STATEMENTS</FONT></B>
</DIV>

<P align="left">
Certain statements in (a)&nbsp;this prospectus under the caption
&#147;Risk Factors,&#148; (b)&nbsp;any applicable prospectus or
pricing supplement and (c)&nbsp;the documents incorporated by
reference into this prospectus may constitute
&#147;forward-looking statements&#148; within the meaning of
federal securities laws. Forward-looking statements are based on
our management&#146;s beliefs, assumptions, and expectations of
our future economic performance, taking into account the
information currently available to them. These statements are not
 statements of historical fact. Forward-looking statements
involve risks and uncertainties that may cause our actual
results, performance or financial condition to be materially
different from the expectations of future results, performance or
 financial condition we express or imply in any forward-looking
statements. Some of the important factors that could cause our
actual results, performance or financial condition to differ
materially from our expectations are:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Fluctuations in our costs to maintain and update our fleet and
	facilities;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Changes in government regulations, particularly environmental
	regulations;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Changes in demand for our products;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Changes in the general domestic economy;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Degree and nature of our competition; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Other factors described in this prospectus, any prospectus
	supplement or pricing supplement or the documents we file with
	the SEC and incorporate by reference into this prospectus.</TD>
</TR>

</TABLE>

<P align="left">
When used in our documents or oral presentations, the words
&#147;anticipate,&#148; &#147;estimate,&#148; &#147;expect,&#148;
 &#147;objective,&#148; &#147;projection,&#148;
&#147;forecast,&#148; &#147;goal&#148; or similar words are
intended to identify forward-looking statements. We qualify any
such forward-looking statements entirely by these cautionary
factors.

<P align="center">3

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<!-- link1 "ABOUT AMERCO" -->

<P align="center"><B><FONT size="4">ABOUT AMERCO</FONT></B>

<P align="left"><B>General Information</B>

<P align="left">
AMERCO owns all of the stock of our principal subsidiary, U-Haul
International, Inc. U-Haul rental operations represented over 80%
 of our total revenue for each of the past five (5)&nbsp;fiscal
years ended March&nbsp;31, 2000. We also own all the stock of
Republic Western Insurance Company, Oxford Life Insurance
Company, and Amerco Real Estate Company. Throughout this
prospectus, unless otherwise indicated, AMERCO and references to
&#147;we,&#148; &#147;our,&#148; &#147;ours&#148; and
&#147;us&#148; includes all of our subsidiaries. Our principal
executive offices are located at 1325&nbsp;Airmotive Way,
Suite&nbsp;100, Reno, Nevada 89502, and our telephone number is
(775)&nbsp;688-6300.

<P align="left">U-HAUL OPERATIONS

<P align="left">
<FONT size="2">*</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U-Move
Operations

<P align="left">
Founded in 1945, U-Haul is primarily engaged, through its
subsidiaries, in the rental of trucks, automobile-type trailers,
and support rental items to the do-it-yourself moving customer.
Our do-it-yourself moving business operates under the U-Haul name
 through an extensive and geographically diverse distribution
network of approximately 1,200 company-owned U-Haul centers and
approximately 15,000 independent dealers throughout the United
States and Canada. We believe that we have more moving equipment
rental locations than our two largest competitors combined. The
U-Haul rental equipment fleet consists of approximately 100,900
trucks, approximately 83,900 trailers, and approximately 21,300
tow dollies. Additionally, U-Haul sells related products (such as
 boxes, tape, and packaging materials) and rents various kinds of
 equipment (such as floor polishing and carpet cleaning
equipment).

<P align="left">
<FONT size="2">*</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Self-Storage
 Rental Operations

<P align="left">
U-Haul entered the self-storage business in 1974 and offers for
rent more than 30.8 million square feet of self-storage space
through over 1,000 company-owned or managed storage locations. We
 believe we are the second largest self-storage operator (in
terms of square feet) in the industry. We believe our
self-storage operations are complementary to the do-it-yourself
moving business. All of our self-storage space is located at or
near one or more U-Haul centers or independent U-Haul dealers.

<P align="center">4

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<P align="left">INSURANCE OPERATIONS

<P align="left">
<FONT size="2">*</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic
Western

<P align="left">
Republic Western originates and reinsures property and casualty
type insurance products for independent third parties, U-Haul
customers, and U-Haul. Republic Western&#146;s principal strategy
 is to capitalize on its knowledge of insurance products aimed at
 the moving and rental markets. Approximately 21.0% of Republic
Western&#146;s written premiums relate to insurance underwriting
activities involving AMERCO&#146;s affiliates. Approximately
89.0% of Republic Western&#146;s invested assets are in
investment grade (NAIC-2 or greater) fixed income securities.
Republic Western is rated &#147;A-VIII&#148; by A.M. Best.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Oxford</TD>
</TR>

</TABLE>

<P align="left">
Oxford primarily reinsures life, health, and annuity insurance
products and administers our self-insured employee health plan.
Approximately 2.8% of Oxford&#146;s premium revenues are from
business with AMERCO&#146;s affiliates. Approximately 88.7% of
Oxford&#146;s invested assets are in investment grade (NAIC-2 or
greater) fixed income securities. Oxford is rated &#147;A- -
VII&#148; by A.M.&nbsp;Best.

<P align="left">REAL ESTATE OPERATIONS

<P align="left">
<FONT size="2">*</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amerco Real
 Estate

<P align="left">
Amerco Real Estate owns or actively manages over 1,200 properties
 throughout the United States and Canada. In addition to its
U-Haul operations, Amerco Real Estate actively seeks to lease or
dispose of our surplus properties.

<P align="left">
The following chart represents the corporate structure of the
major operating subsidiaries of AMERCO:

<P align="center">
[Corporate Structure Flow Chart of Amerco]

<P align="center">5
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<P align="center"><B><FONT size="4">THE OFFERING</FONT></B>

<P align="left">
We may offer and sell from time to time, in one or more series,
unsecured debt securities, which may consist of notes, debentures
 or other evidences of indebtedness.

<P align="left">
The total initial offering prices of the debt securities we may
offer and sell pursuant to this prospectus and supplements to it
will not be greater than $350,000,000 (or the equivalent amount
in a foreign currency or currency unit at the time of sale). We
will offer these securities in amounts, at prices and on terms
that we determine in light of market conditions at the time of
sale and specify in a prospectus supplement or pricing
supplement.

<P align="center">6
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<P align="center"><B><FONT size="4">RISK FACTORS</FONT></B>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
	<TD align="left">
	<B>We operate in a highly competitive industry, which could
	adversely affect our operations.</B></TD>
</TR>

</TABLE>

<P align="left">
The truck rental industry is highly competitive and includes a
number of significant national and hundreds of regional and local
 competitors. Competition is generally based on price, product
quality, convenience, availability, brand name recognition and
service. Competition could adversely affect our operating results
 by forcing us to reduce prices or delay price increases.

<P align="left">
<FONT size="2">*</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Control
of the Company remains in the hands of a small contingent.</B>

<P align="left">
Edward J. Shoen, Chairman of the Board and President of AMERCO,
James P. Shoen, Vice President and a Director of AMERCO, and Mark
 V. Shoen, President of U-Haul Phoenix Operations collectively
own 9,060,326 shares (approximately 40.4%) of the outstanding
common stock of AMERCO. Accordingly, Edward J. Shoen, Mark V.
Shoen, and James P. Shoen will be in a position to continue to
influence the election of the members of the Board of Directors
and decisions requiring stockholder approval. In addition,
2,664,194 shares (approximately 11.9%), including shares
allocated to employees and unallocated shares, are held by our
Employee Savings and Employee Stock Ownership Trust.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
	<TD align="left">
	<B>Our operations subject us to numerous environmental
	regulations and the possibility that environmental liability in
	the future could adversely affect our&nbsp;operations.</B></TD>
</TR>

</TABLE>

<P align="left">
Compliance with environmental requirements of federal, state and
local governments significantly affects our business. Among other
 things, these requirements regulate the discharge of materials
into the water, air and land and govern the use and disposal of
hazardous substances. Under environmental laws, we can be held
strictly liable for hazardous substances that are found on real
property we have owned or operated. We are aware of issues
regarding hazardous substances on some of our real estate and we
have put in place a remedial plan at each site where we believe
such a plan is necessary. We regularly make capital and operating
 expenditures to stay in compliance with environmental laws. In
particular, we have managed a testing and removal program since
1988 for our underground storage tanks. Under this program, we
have removed over 3,000 tanks at a total cost of $41.0 million
since April 1988. As of June&nbsp;30, 2000, we have seven known
sites containing nine known underground storage tanks. Despite
these compliance efforts, risk of environmental liability is part
 of the nature of our business. For example, a subsidiary of
AMERCO owns property located within two different state hazardous
 substance sites in the State of Washington. The subsidiary has
been named a &#147;potentially liable party&#148; under state law
 with respect to this state. Future environmental liabilities,
including compliance and remediation costs, could have a material
 adverse effect on our business. For more information regarding
environmental matters that affect our business, see
&#147;Item&nbsp;1. Business&nbsp;&#151; Moving and Storage
Operations&nbsp;&#151; Environmental Matters&#148; in our Annual
Report on Form&nbsp;10-K.

<P align="center">7

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<P align="center"><B><FONT size="4">USE OF PROCEEDS</FONT></B>

<P align="left">
The use of proceeds from the sale of the debt securities will be
set forth in a prospectus supplement or pricing supplement
relating to each offering of debt securities.

<DIV>&nbsp;</DIV>

<!-- link1 "RATIO OF EARNINGS TO FIXED CHARGES" -->

<DIV align="center"><B><FONT size="4">RATIO OF EARNINGS TO FIXED CHARGES</FONT></B>
</DIV>

<P align="left">
The following table shows our ratio of earnings to fixed charges
for the periods indicated. For purposes of computing the ratio of
 earnings to fixed charges, &#147;earnings&#148; consist of
pretax earnings from operations plus total fixed charges
excluding interest capitalized during the period. &#147;Fixed
charges&#148; consist of interest expense, capitalized interest,
amortization of debt expense and discounts, and one-third of the
our annual rental expense (which we believe is a reasonable
approximation of the interest factor of these rentals). The ratio
 for the three months ended on June&nbsp;30, 2000 may be
different from the ratio for fiscal 2000 because, among other
reasons, U-Haul rental operations are seasonal and proportionally
 more of our earnings are generated in the first and second
quarters of each fiscal year.

<CENTER>
<TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="37%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="6%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="5%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="2%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="2%">&nbsp;</TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">THREE</FONT></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">MONTHS</FONT></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">ENDED</FONT></TD>
	<TD></TD>
	<TD colspan="19"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">JUNE&nbsp;30,</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="19"><FONT size="2">FISCAL YEAR ENDED MARCH&nbsp;31,</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="19"><HR size="1"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">2000</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">2000</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">1999</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">1998</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">1997</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2">1996</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Ratio of earnings to fixed&nbsp; charges</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2.60</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1.79</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1.84</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1.66</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1.74</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2.02</FONT></TD>
	<TD></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
For more information on our ratio of earnings to fixed charges,
see Exhibit&nbsp;12 to the registration statement and the section
 called &#147;Where You Can Find More Information.&#148;

<P align="center"><B><FONT size="4">DESCRIPTION OF DEBT SECURITIES</FONT></B>

<P align="left">
The following is a description of certain general terms of the
debt securities to which any prospectus supplement may relate.
The particular terms of the debt securities we may offer (the
&#147;offered securities&#148;) will be described in the
prospectus supplement and pricing supplement, if applicable,
relating to such offered securities.

<P align="left">
The offered securities are to be issued in one or more series
under an indenture (the &#147;Indenture&#148;), between us and
The Bank of New York, as Trustee. The Indenture is an exhibit to
the registration statement. The following summaries of certain
provisions of the Indenture do not purport to be complete and are
 subject to, and are qualified in their entirety by reference to,
 all provisions of the Indenture. Because this is a summary, it
does not contain all the information that may be important to
you. You should read the Indenture in its entirety, including the
 definitions of certain terms, the prospectus supplement and any
pricing supplement before you make any investment decision.

<P align="center">8
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<DIV align="left">
Wherever particular provisions or defined terms of the Indenture
are referred to, such provisions or defined terms are
incorporated herein by reference. Certain defined terms in the
Indenture are capitalized herein.
</DIV>

<P align="center">GENERAL

<P align="left">
The debt securities will be unsecured obligations. The Indenture
does not limit the amount of offered securities that may be
issued and provides that the offered securities may be issued
from time to time in one or more series. All offered securities
of one series need not be issued at the same time and, unless
otherwise provided, a series may be reopened under the Indenture,
 without the consent of any holder, for issuances of additional
offered securities of such series. The offered securities will
rank <I>pari passu </I>with all of our other unsecured and
unsubordinated indebtedness.

<P align="left">
We refer you to the prospectus supplement and pricing supplement
relating to the offered securities for the following terms, where
 applicable, of the offered securities:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the title of the offered securities;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any limit on the aggregate principal amount of the offered
	securities;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the ranking of such offered securities;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the person to whom any interest on any offered security will be
	payable, if other than the person in whose name such offered
	security is registered at the close of business on the regular
	record date for such interest;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the date or dates on which the offered securities will mature;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the rate or rates (which may be fixed, floating or adjustable) at
	 which the offered securities will bear interest, if any, and the
	 date or dates from which such interest will accrue;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the dates on which such interest, if any, will be payable and the
	 regular record dates for such interest payment dates;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the place or places where the principal of (and premium, if any)
	and interest on the offered securities will be payable, where any
	 offered securities may be surrendered for registration of
	transfer or exchange and where notices to or demand upon us may
	be delivered;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the period or periods within which, the price or prices at which,
	 and the terms and conditions upon which, the offered securities
	may be redeemed in whole or in part, at our option;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the mandatory or optional redemption provisions applicable to the
	 offered securities;</TD>
</TR>

</TABLE>

<P align="center">9

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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the obligation, if any, of us to redeem or purchase such offered
	securities pursuant to any sinking fund or analogous provision or
	 at the option of a holder thereof and the period or periods
	within which, the price or prices at which, and the terms and
	conditions upon which, such offered securities shall be redeemed
	or purchased, in whole or in part, pursuant to such obligation;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the denominations in which such offered securities will be
	issuable, if other than denominations of $1,000 and any integral
	multiples thereof;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the portion of the principal amount of the offered securities, if
	 other than the entire principal amount thereof, payable upon
	acceleration of maturity thereof;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any additional restrictive covenants under the Indenture;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	our right to defease the offered securities or certain
	restrictive covenants and certain Events of Default under the
	Indenture;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	the currency or currencies in which payment of principal and
	premium, if any, and interest on the offered securities will be
	payable, if other than United States dollars;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	if the principal of and premium, if any, or interest, if any, on
	such offered securities is to be payable, at our election or a
	holder thereof, in a currency or currencies other than that in
	which such offered securities are stated to be payable, the
	currency or currencies in which payment of the principal of and
	premium, if any, or interest, if any, on such offered securities
	as to which such election is made will be payable and the period
	or periods within which, and the terms and conditions upon which,
	 such election may be made;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any index used to determine the amount of payments of principal
	of and premium, if any, and interest, if any, on the offered
	securities;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	if the offered securities will be issuable only in the form of a
	global note as described under &#147;Book-Entry Securities,&#148;
	 DTC or its nominee with respect to the offered securities, and
	the circumstances under which the global note may be registered
	for transfer or exchange in the name of a person other than DTC
	or its nominee;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any additional Events of Default under the Indenture; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any other terms of the offered securities.</TD>
</TR>

</TABLE>

<P align="left">
If the principal of and premium, if any, or any interest on
offered securities of any series are payable in a foreign or
composite currency, the restrictions, elections, federal income
tax consequences, specific terms and other information with
respect to such offered

<P align="center">10

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<DIV align="left">
securities and such currency will be described in the prospectus
supplement or pricing supplement relating thereto.
</DIV>

<P align="left">
Unless otherwise indicated in the prospectus supplement or
pricing supplement relating to offered securities, principal of
and premium, if any, and interest, if any, on the offered
securities will be payable, and the offered securities will be
exchangeable and transfers thereof will be registrable, at the
office of the Trustee at 101 Barclay Street, Floor 21 West, New
York, New York, 10286, provided that, at our option, payment of
interest may be made by:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	wire transfer on the date of payment in immediately available
	federal funds or next day funds to an account specified by
	written notice to the Trustee from any holder of offered
	securities;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any similar manner that such holder may designate in writing to
	the Trustee; or</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	by check mailed to the address of the person entitled thereto as
	it appears in the security register.</TD>
</TR>

</TABLE>

<P align="left">
Any payment of principal and premium, if any, and interest, if
any, required to be made on an interest payment date, redemption
date, or at maturity that is not a business day need not be made
on such day, but may be made on the next succeeding business day
with the same force and effect as if made on the interest payment
 date, redemption date, or at maturity, as the case may be, and
no interest shall accrue for the period from and after such
interest payment date, redemption date, or maturity.

<P align="left">
Unless otherwise indicated in the prospectus supplement or
pricing supplement relating to offered securities, the debt
securities will be issued only in fully registered form, without
coupons, in denominations of $1,000 or any integral multiple
thereof. No service charge will be made for any transfer or
exchange of offered securities, but we may require payment of a
sum sufficient to cover any tax or other government charge
payable in connection therewith.

<P align="left">
Offered securities may be issued under the Indenture as original
issue discount securities to be offered and sold at a substantial
 discount from their stated principal amount. In addition, under
United States treasury regulations, it is possible that offered
securities that are offered and sold at their stated principal
amount would, under certain circumstances, be treated as issued
at an original issue discount for federal income tax purposes.
Federal income tax consequences and other special considerations
applicable to any such original issue discount securities (or
other debt securities treated as issued at an original issue
discount) and to &#147;investment units&#148; will be described
in the prospectus supplement relating thereto. An &#147;original
issue discount security&#148; means any security that provides
for an amount less than the principal amount thereof to be due
and payable upon a declaration of acceleration of the maturity
thereof upon the occurrence of an Event of Default and the
continuation thereof.

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<P align="center">BOOK-ENTRY SYSTEM

<P align="left">
The debt securities will be represented by one or more permanent
global notes deposited with, or on behalf of, The Depository
Trust Company, as depository under the Indenture
(&#147;DTC&#148;), and registered in the name of DTC&#146;s
nominee. Except as set forth below:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	owners of beneficial interests in a global note will not be
	entitled to have debt securities represented by such global note
	registered in their names, will not receive or be entitled to
	receive physical delivery of notes in definitive form and will
	not be considered the owners or holders thereof under the
	Indenture; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	each global note may be transferred, in whole and not in part,
	only to another nominee of DTC or to a successor of DTC or its
	nominee.</TD>
</TR>

</TABLE>

<P align="left">
Accordingly, beneficial interests in the debt securities will be
shown on, and transfers thereof will be effected only through,
records maintained by DTC and its participants. The laws of some
states require certain purchasers of securities to take physical
delivery thereof in definitive form. The depository arrangements
described above and such laws may impair the ability to own or
transfer beneficial interests in a global note.

<P align="left">
Owners of beneficial interests in any global note will not be
entitled to receive debt securities in definitive form and will
not be considered holders of debt securities unless:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	DTC notifies us that it is unwilling or unable to continue as
	depository for such global note or if at any time DTC ceases to
	be a clearing agency registered under the Exchange Act;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	We execute and deliver to the Trustee a company order that such
	global note shall be so exchangeable; or</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	there shall have occurred and be continuing an Event of Default
	or an event which, with the giving of notice or lapse of time, or
	 both, would constitute an Event of Default with respect to the
	debt securities.</TD>
</TR>

</TABLE>

<P align="left">
In such circumstances, upon surrender by DTC or a successor
depository of any global note, debt securities in definitive form
 will be issued to each person that DTC or a successor depository
 identifies as the beneficial owner of the related debt
securities. Upon such issuance, the Trustee is required to
register such debt securities in the name of, and cause such debt
 securities to be delivered to, such person or persons (or
nominees thereof). Such debt securities would be issued in fully
registered form without coupons, in denominations of $1,000 and
integral multiples thereof.

<P align="left">
The following is based on information furnished by DTC:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	In the event that DTC acts as securities depository for any debt
	securities, such debt securities will be issued as fully
	registered securities registered in the name of Cede &#38; Co.
	(DTC&#146;s partnership nominee). One fully registered debt
	security certificate will be issued with respect to each $200
	million of</TD>
</TR>

</TABLE>

<P align="center">12

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD></TD>
	<TD align="left">
	principal amount of the debt securities of a series, and an
	additional certificate will be issued with respect to any
	remaining principal amount of such series.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	DTC is a limited-purpose trust company organized under the New
	York Banking Law, a &#147;banking organization&#148; within the
	meaning of the New York Banking Law, a member of the Federal
	Reserve System, a &#147;clearing corporation&#148; within the
	meaning of the New York Uniform Commercial Code, and a
	&#147;clearing agency&#148; registered pursuant to the provisions
	 of Section&nbsp;17A of the Exchange Act. DTC holds securities
	that its participants (&#147;Participants&#148;) deposit with
	DTC. DTC also facilitates the settlement among Participants of
	securities transactions, such as transfers and pledges, in
	deposited securities through electronic computerized book-entry
	changes in Participants&#146; accounts, thereby eliminating the
	need for physical movement of securities certificates. Direct
	Participants include securities brokers and dealers, banks, trust
	 companies, clearing corporations and certain other organizations
	 (&#147;Direct Participants&#148;). DTC is owned by a number of
	its Direct Participants and by the New York Stock Exchange, Inc.,
	 the American Stock Exchange, Inc. and the National Association
	of Securities Dealers, Inc. Access to the DTC system is also
	available to others, such as securities brokers and dealers,
	banks and trust companies, that clear through or maintain a
	custodial relationship with a Direct Participant, either directly
	 or indirectly (&#147;Indirect Participants&#148;). The rules
	applicable to DTC and its Participants are on file with the SEC.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Purchases of debt securities under the DTC system must be made by
	 or through Direct Participants, which will receive a credit for
	the debt securities on DTC&#146;s records. The ownership interest
	 of each actual purchaser of each Debt Security (&#147;Beneficial
	 Owner&#148;) is in turn recorded on the Direct and Indirect
	Participants&#146; records. A Beneficial Owner does not receive
	written confirmation from DTC of its purchase, but such
	Beneficial Owner is expected to receive a written confirmation
	providing details of the transaction, as well as periodic
	statements of its holdings, from the Direct or Indirect
	Participant through which such Beneficial Owner entered into the
	transaction. Transfers of ownership interests in debt securities
	are accomplished by entries made on the books of Participants
	acting on behalf of Beneficial Owners. Beneficial Owners will not
	 receive certificates representing their ownership interests in
	debt securities, except in the limited circumstances described
	above.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	To facilitate subsequent transfers, the debt securities are
	registered in the name of DTC&#146;s partnership nominee, Cede
	&#38; Co. The deposit of the debt securities with DTC and their
	registration in the name of Cede &#38; Co. effects no change in
	beneficial ownership. DTC has no knowledge of the actual
	Beneficial Owners of the debt securities; DTC&#146;s records
	reflect only the identity of the Direct Participants to whose
	accounts debt securities are credited, which may or may not be
	the Beneficial Owners. The Participants</TD>
</TR>

</TABLE>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD></TD>
	<TD align="left">
	remain responsible for keeping account of their holdings on
	behalf of their customers.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Delivery of notices and other communications by DTC to Direct
	Participants, by Direct Participants to Indirect Participants,
	and by Direct Participants and Indirect Participants to
	Beneficial Owners are governed by arrangements among them,
	subject to any statutory or regulatory requirements as may be in
	effect from time to time.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Redemption notices must be sent to Cede &#38; Co. If less than
	all of the debt securities within an issue are being redeemed,
	DTC&#146;s practice is to determine by lot the amount of interest
	 of each Direct Participant in such issue to be redeemed.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Neither DTC nor Cede &#38; Co. consents or votes with respect to
	the debt securities. Under its usual procedures, DTC mails a
	proxy (an &#147;Omnibus Proxy&#148;) to the issuer as soon as
	possible after the record date. The Omnibus Proxy assigns Cede
	&#38; Co.&#146;s consenting or voting rights to those Direct
	Participants to whose accounts the debt securities are credited
	on the record date (identified on a list attached to the Omnibus
	Proxy).</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Payments of principal of and any premium and interest on the debt
	 securities will be made to DTC. DTC&#146;s practice is to credit
	 Direct Participants&#146; accounts on the payment date in
	accordance with their respective holdings as shown on DTC&#146;s
	records unless DTC has reason to believe that it will not receive
	 payment on the payment date. Payments by Participants to
	Beneficial Owners will be governed by standing instructions and
	customary practices, as is the case with securities held for the
	accounts of customers in bearer form or registered in
	&#147;street name,&#148; and will be the responsibility of such
	Participant and not of DTC, any paying agent or us, subject to
	any statutory or regulatory requirements as may be in effect from
	 time to time. Payment of principal and any premium and interest
	to DTC will be our responsibility or the responsibility of the
	applicable paying agent, disbursement of such payments to Direct
	Participants will be the responsibility of DTC, and disbursement
	of such payments to the Beneficial Owners will be the
	responsibility of Direct and Indirect Participants.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	DTC may discontinue providing its services as securities
	depository with respect to the debt securities at any time by
	giving reasonable notice to us or the applicable paying agent.
	Under such circumstances, in the event that a successor
	securities depository is not appointed, debt securities in
	certificated form are required to be prepared and delivered as
	described above.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	We may decide to discontinue use of the system of book-entry
	transfers through DTC (or a successor securities depository). In
	that event, debt security certificates will be printed and
	delivered.</TD>
</TR>

</TABLE>

<P align="center">14

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<P align="left">
The information in this section concerning DTC and DTC&#146;s
book-entry system has been obtained from sources (including DTC)
that we believe to be reliable. However, neither we nor any
underwriter or agent take any responsibility for its accuracy.

<P align="left">
Neither we nor any underwriter or agent, the Trustee or any
applicable paying agent will have any responsibility or liability
 for any aspect of the records relating to or payments made on
account of beneficial interests in a global security, or for
maintaining, supervising or reviewing any records relating to
such beneficial interests.

<P align="center">COVENANTS

<P align="left">
The Indenture contains several restrictive covenants. The
Indenture does not contain:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any restrictions on us paying dividends or making other
	distributions on any of our capital stock or purchasing or
	redeeming any of our capital stock;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any restrictions on us incurring, assuming or becoming liable
	upon Senior Indebtedness or any other type of debt securities or
	other obligations;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any restrictions on us creating liens on our property for any
	purpose; or</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any requirement on us adhering to any financial ratios or
	specified levels of net worth or liquidity.</TD>
</TR>

</TABLE>

<P align="left">
Any additional restrictive covenants relating to any series of
debt securities will be described in the prospectus supplement or
 pricing supplement relating to such series. If any such
covenants are described, the prospectus supplement or pricing
supplement will also state whether the &#147;covenant
defeasance&#148; provisions described below will apply.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Corporate Existence</TD>
</TR>

</TABLE>

<P align="left">
We will do or cause to be done all things necessary to preserve
and keep in full force and effect our corporate existence and
material rights (charter and statutory) and material franchises;
provided, however, that we will not be required to preserve any
such right or franchise if our Board of Directors determines that
 the preservation of such rights and franchises is no longer
desirable in the conduct of our business and our consolidated
subsidiaries considered as a whole, and that the loss thereof is
not disadvantageous in any material respect to the holders of the
 debt securities.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	Consolidation, Merger, and Sale of Assets</TD>
</TR>

</TABLE>

<P align="left">
Without the consent of any holders of outstanding debt
securities, we may consolidate or merge with or into, or transfer
 or lease our assets as an entirety to, any corporation, provided
 that (i)&nbsp;the corporation (if other than AMERCO) formed by
such consolidation or into which we are merged or that acquires
or leases our assets substantially as an entirety is a
corporation, partnership or trust, is organized and existing
under the laws of any United States jurisdiction and expressly
assumes our obligations on the debt securities

<P align="center">15

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<DIV align="left">
and under the Indenture, (ii)&nbsp;after giving effect to such
transaction no Event of Default, and no event that, after notice
or lapse of time or both, would become an Event of Default, shall
 have occurred and be continuing (provided that a transaction
will only be deemed to be in violation of this condition
(ii)&nbsp;as to any series of debt securities as to which such
Event of Default or such event shall have occurred and be
continuing), and (iii)&nbsp;certain other conditions are met.
</DIV>

<P align="center">EVENTS OF DEFAULT

<P align="left">
The following are Events of Default under the Indenture with
respect to debt securities of any series issued thereunder:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	failure to pay principal of or premium, if any, on any debt
	security of that series when due;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	failure to pay any interest on any debt security of that series
	when due, continued for 30&nbsp;days;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	(i)&nbsp;the failure by us or any of our subsidiaries to pay
	indebtedness for money borrowed (including debt securities of
	other series) in an aggregate principal amount exceeding
	$10,000,000 at the later of final maturity or upon the expiration
	 of any applicable period of grace with respect to such principal
	 amount or (ii)&nbsp; acceleration of the maturity of any
	indebtedness for money borrowed by us or any of our subsidiaries
	in excess of $10,000,000, if such failure to pay or acceleration
	is not discharged or such acceleration is not annulled within
	15&nbsp;days after due notice;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	failure to deposit any sinking fund payment, when due, in respect
	 of any debt security of that series;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	failure to perform any of our covenants or warranties in the
	Indenture (other than a covenant or warranty included in the
	Indenture solely for the benefit of a series of debt securities
	other than that series), continued for 60&nbsp;days after written
	 notice as provided in such Indenture;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	certain events in bankruptcy, insolvency or reorganization; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	any other Event of Default provided with respect to debt
	securities of that series.</TD>
</TR>

</TABLE>

<P align="left">
If an Event of Default relating to bankruptcy, insolvency or
reorganization occurs and is continuing with respect to a series
of debt securities, then the principal amount of the outstanding
debt securities shall become immediately due and payable without
any declaration or other act on the part of the Trustee or any
holder. If any other Event of Default occurs and is continuing
with respect to outstanding debt securities of any series, either
 the Trustee or the holders of at least 25% in principal amount
of the outstanding debt securities of that series may declare the
 principal amount (or, if the debt securities of

<P align="center">16

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<P><HR noshade><P>

<DIV align="left">
that series are original issue discount securities, such portion
of the principal amount as may be specified in the terms of that
series) of all the debt securities of that series to be due and
payable immediately by written notice to us (and to the Trustee
if given by the holders). At any time after a declaration of
acceleration with respect to debt securities of any series has
been made, but before a judgment or decree based on acceleration
has been obtained, the holders of a majority in principal amount
of the outstanding debt securities of that series may, under
certain circumstances, rescind and annul such acceleration. For
information as to waiver of defaults, see &#147;Modification and
Waiver&#148; below.
</DIV>

<P align="left">
We refer to the prospectus supplement relating to each series of
offered securities that are original issue discount securities
for the particular provisions relating to acceleration of the
maturity of a portion of the principal amount of such original
issue discount securities upon the occurrence of an Event of
Default.

<P align="left">
The Indenture provides that the Trustee will be under no
obligation, subject to the duty of the Trustee during any default
 to act with the required standard of care, to exercise any of
its rights or powers under the Indenture at the request or
direction of any of the holders, unless such holders shall have
offered to the Trustee reasonable indemnity. Subject to such
provisions for indemnification of the Trustee, the holders of a
majority in principal amount of the outstanding debt securities
of any series will have the right to direct the time, method, and
 place of conducting any proceeding for any remedy available to
the Trustee, or exercising any trust or power conferred on the
Trustee, with respect to the debt securities of that series.

<P align="left">
We will furnish to the Trustee annually a certificate as to
compliance by us with all terms, provisions and conditions of the
 Indenture.

<P align="center">DEFEASANCE

<P align="left">
The prospectus supplement or pricing supplement will state if any
 additional defeasance provision will apply to the offered
securities.

<P align="left"><I>Defeasance and Discharge</I>

<P align="left">
The Indenture provides that, if applicable, we will be discharged
 from any and all obligations in respect of the debt securities
of any series issued (except for certain obligations to register
the transfer or exchange of debt securities of such series, to
replace stolen, lost, or mutilated debt securities of such
series, to maintain paying agencies and to hold monies for
payment in trust) upon the irrevocable deposit with the Trustee,
in trust, of money and/or U.S. Government obligations, which
through the payment of interest and principal in respect thereof
in accordance with their terms will provide money in an amount
sufficient to pay the principal of and premium, if any, and each
installment of interest on the debt securities of that series on
the stated maturity of such payments in accordance with the terms
 of the Indenture and the debt securities of such series. Such a
trust may only be established if, among other things, we have
delivered to the Trustee an opinion of counsel (who may be an
employee of or counsel for AMERCO) to the effect that we have

<P align="center">17

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<P><HR noshade><P>

<DIV align="left">
received from, or there has been published by, the Internal
Revenue Service a ruling or there has been a change in the
applicable United States federal income tax law to the effect
that holders of the debt securities of that series will not
recognize income, gain, or loss for federal income tax purposes
as a result of such deposit, defeasance, and discharge and will
be subject to federal income tax on the same amount and in the
same manner and at the same times as would have been the case if
such deposit, defeasance, and discharge had not occurred.
However, the Statement of Financial Accounting Standards
No.&nbsp;125 &#147;Accounting for Transfers and Services of
Financial Assets and Extinguishments of Liabilities&#148; as
issued by the Financial Accounting Standard&#146;s Board will
generally not permit the in-substance defeasance of debt as
described above.
</DIV>

<P align="left"><I>Defeasance of Certain Covenants and Certain Events of Default
</I>

<P align="left">
The Indenture provides that we may omit to comply with the
covenants described under &#147;Covenants,&#148; and that may be
described in a prospectus supplement or pricing supplement, and
that violations of such covenants will not be deemed to be an
Event of Default under the Indenture to the extent that the
conditions described herein are met. The Indenture also provides
with respect to the offered securities of any series issued
thereunder, to the extent provided for in the prospectus
supplement, that we may omit to comply with certain restrictive
covenants provided for in this prospectus or the prospectus
supplement and, to the extent provided in the prospectus
supplement, that violations of certain restrictive covenants
provided for in the prospectus supplement shall not be deemed to
be an Event of Default under the Indenture and the debt
securities of such series, upon the deposit with the Trustee, in
trust, of money and/or U.S. Government obligations which through
the payment of interest and principal in respect thereof in
accordance with their terms will provide money in an amount
sufficient to pay the principal of and premium, if any, and each
installment of interest on the debt securities of such series on
the stated maturity of such payments in accordance with the terms
 of the Indenture and the debt securities of such series. Our
obligations under the Indenture and the debt securities of such
series other than with respect to the covenants referred to above
 and the Events of Default other than the Event of Default
referred to above shall remain in full force and effect. Such a
trust may only be established if, among other things, we have
delivered to the Trustee an opinion of counsel (who may be an
employee of or counsel for AMERCO) to the effect that the holders
 of the debt securities of such series will not recognize income,
 gain or loss for federal income tax purposes as a result of such
 deposit and defeasance of certain covenants and Events of
Default and will be subject to federal income tax on the same
amount and in the same manner and at the same times as would have
 been the case if such deposit and defeasance had not occurred.

<P align="left"><I>Defeasance and Certain Other Events of Default</I>

<P align="left">
In the event we exercise our option to omit compliance with
certain covenants of the Indenture with respect to the offered
securities of any series as described above issued thereunder and
 the offered securities of such series are declared due and
payable because of the occurrence of any Event of Default other
than the Event of Default due to certain events in bankruptcy,
insolvency, or reorganization described under &#147;Events of
Default,&#148; the amount of money and U.S. Government
obligations on deposit with the Trustee will be

<P align="center">18

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<P><HR noshade><P>

<DIV align="left">
sufficient to pay amounts due on the offered securities of such
series at the time of their stated maturity but may not be
sufficient to pay amounts due on the offered securities of such
series at the time of the acceleration resulting from such Event
of Default. However, we will remain liable for such payments.
</DIV>

<P align="center">MODIFICATION AND WAIVER

<P align="left">
Both we and the Trustee may make modifications and amendments to
the Indenture with the consent of the holders of a majority in
principal amount of the outstanding debt securities of each
series affected by such modification or amendment; provided,
however, that no such modification or amendment may, without the
consent of the holder of each outstanding debt security affected
thereby:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	change the stated maturity of the principal of, or any
	installment of principal of or interest on, any debt security;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	reduce the principal amount of, or the premium, if any, or
	interest, if any, on any debt security or any premium payable
	upon the redemption thereof;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	reduce the amount of principal of an original issue discount
	security payable upon acceleration of the maturity thereof;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	adversely affect the rights of such holder under any mandatory
	redemption or repurchase provision or any right or redemption or
	repurchase at the option of such holder;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	change the place or currency of payment of principal of, or
	premium, if any, or interest, if any, on, any debt security;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	impair the right to institute suit for the enforcement of any
	payment on or with respect to any debt security; or</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	reduce the percentage in principal amount of outstanding debt
	securities of any series, the consent of the holders of which is
	required for modification or amendment of the Indenture or for
	waiver of compliance with certain provisions of the Indenture or
	for waiver of certain defaults.</TD>
</TR>

</TABLE>

<P align="left">
The holders of a majority in principal amount of the outstanding
debt securities of any series may on behalf of the holders of all
 debt securities of that series waive, insofar as that series is
concerned, compliance by us with certain restrictive provisions
of the Indenture. The holders of a majority in principal amount
of the outstanding debt securities of any series may on behalf of
 the holders of all debt securities of that series waive any past
 default under the Indenture with respect to that series, except
a default in the payment of the principal of or premium, if any,
or interest on any debt security of that series or in respect of
a provision that under the Indenture cannot be modified or
amended without the consent of the holder of each outstanding
debt security of that series affected.

<P align="center">19

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<P><HR noshade><P>

<P align="center">CERTAIN DEFINITIONS

<P align="left">
Set forth below is a summary of certain of the defined terms used
 in the covenants contained in the Indenture. Reference is made
to the Indenture for the full definition of all such terms as
well as any other capitalized terms used herein for which no
definition is provided.

<P align="left">
<I>&#147;consolidated subsidiary&#148; </I>means any subsidiary
of a person or of any consolidated subsidiary which is
consolidated with such person for financial reporting purposes in
 accordance with United States generally accepted accounting
principles.

<P align="left">
<I>&#147;indebtedness for money borrowed,&#148; </I>when used
with respect to us or any of our subsidiaries, means any
obligation of, or any obligation guaranteed by, us or any of our
subsidiaries for the repayment of borrowed money, whether or not
evidenced by bonds, debentures, notes or other written
instruments, and any deferred obligation of, or any such
obligation guaranteed by, us for the payment of the purchase
price of property or assets.

<P align="left">
<I>&#147;subsidiary&#148; </I>means a person more than 50% of the
 outstanding voting stock of which is owned, directly or
indirectly, by such person or by one or more other subsidiaries,
or by such person and one or more other subsidiaries of such
person.

<P align="center">CONCERNING THE TRUSTEE

<P align="left">
We may maintain banking and other commercial relationships with
the Trustee and its affiliates in the ordinary course of
business.

<P align="center">GOVERNING LAW

<P align="left">
The Indenture and the offered securities will be governed by and
construed in accordance with the laws of the State of New York.

<P align="center">20
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<!-- link1 "PLAN OF DISTRIBUTION" -->

<P align="center"><B><FONT size="4">PLAN OF DISTRIBUTION</FONT></B>

<P align="left">
We may sell the offered securities:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="6%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	through agents;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	through underwriters or dealers;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	directly to one or more purchasers; or</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*</FONT></TD>
	<TD align="left">
	through some combination of these methods.</TD>
</TR>

</TABLE>

<P align="left"><I>Agents</I>

<P align="left">
The offered securities may be sold through agents we designate.
Except as otherwise set forth in a prospectus supplement, the
agents will agree to use their reasonable best efforts to solicit
 purchases for the period of their appointment.

<P align="left"><I>Underwriters</I>

<P align="left">
If underwriters are used in the sale, the underwriters will
acquire the offered securities for their own account. The
underwriters may resell the offered securities in one or more
transactions, including negotiated transactions, at a fixed
public offering price or at varying prices determined at the time
 of sale. The obligations of the underwriters to purchase the
offered securities will be subject to certain conditions. The
underwriters will be obligated to purchase all the offered
securities of the series offered if any of the offered securities
 are purchased. Any public offering price and any discounts or
concessions allowed or re-allowed or paid to dealers may be
changed from time to time.

<P align="left"><I>Dealers</I>

<P align="left">
If dealers are used in the sale, we will sell the offered
securities to the dealers, as principal. The dealers may then
resell the offered securities to the public at varying prices to
be determined by them at the time of sale.

<P align="left"><I>Direct Sales</I>

<P align="left">
We may also directly sell the offered securities. In this case,
no underwriters, dealers or agents would be involved.

<P align="left"><I>General Information</I>

<P align="left">
Underwriters, dealers and agents that participate in the
distribution of the offered securities may be deemed underwriters
 under the Securities Act of 1933, and any discounts or
commissions they receive from us or commissions from purchasers
of the offered securities may be treated as underwriting
discounts, concessions or commissions under the Securities Act.
Any underwriter, dealer or agent will be identified and their
compensation described in the applicable prospectus or pricing
supplement.

<P align="center">21

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<P align="left">
We may have agreements with the underwriters, dealers and agents
to indemnify them against certain civil liabilities, including
liabilities under the Securities Act, or to contribute to
payments that the underwriters, dealers or agents may be required
 to make.

<P align="left">
Certain of the underwriters or agents and their affiliates may be
 customers of, engage in transactions with and perform investment
 banking, commercial banking and other financial services for us
and our affiliates in the ordinary course of business.

<P align="left">
Each series of offered securities will be a new issue with no
established trading market. We do not intend to list any of the
offered securities on a national securities exchange or quotation
 system. It is possible that one or more underwriters or
broker-dealers may make a market in the offered securities, but
will not be obligated to do so and may discontinue any market
making at any time without notice. Therefore, we can give you no
assurance as to the existence or liquidity of a trading market
for any of the offered securities.

<P align="left">
In connection with an offering of our offered securities,
underwriters, dealers or agents may purchase and sell them in the
 open market. These transactions may include stabilizing
transactions and purchases to cover syndicate short positions
created in connection with the offering. Stabilizing transactions
 consist of certain bids or purchases for the purpose of
preventing or slowing a decline in the market price of the
offered securities; and syndicate short positions involve the
sale by the underwriters, dealers or agents, as the case may be,
of a greater number of offered securities than they are required
to purchase from us in the offering. Underwriters also may impose
 a penalty bid, which means that the underwriting syndicate may
reclaim selling concessions allowed to syndicate members or other
 broker dealers who sell offered securities in the offering for
their account if the syndicate repurchases the securities in
stabilizing or covering transactions. These activities may
stabilize, maintain or otherwise affect the market price of the
offered securities, which may be higher than the price that might
 otherwise prevail in the open market. These activities, if
commenced, may be discontinued at any time without notice. These
transactions may be effected on any securities exchange on which
the offered securities may be listed, in the over-the-counter
market or otherwise.

<DIV>&nbsp;</DIV>

<!-- link1 "LEGAL OPINIONS" -->

<DIV align="center"><B><FONT size="4">LEGAL OPINIONS</FONT></B>
</DIV>

<P align="left">
Our counsel, Lionel, Sawyer &#38; Collins, Las Vegas, Nevada,
will issue a legal opinion about the validity of the offered
securities. Counsel named in the applicable prospectus supplement
 will advise the underwriters.

<DIV>&nbsp;</DIV>

<!-- link1 "EXPERTS" -->

<DIV align="center"><B><FONT size="4">EXPERTS</FONT></B>
</DIV>

<P align="left">
Our consolidated financial statements as of March&nbsp;31, 2000
and 1999 and for each of the fiscal years in the three-year
period ended March&nbsp;31, 2000, incorporated in this prospectus
 by reference to our Annual Report on Form&nbsp;10-K for the
fiscal year ended March&nbsp;31, 2000 have been so incorporated
by reference herein and in the registration statement in reliance
 on the reports of PricewaterhouseCoopers LLP, independent
accountants, and given on the authority of said firm as experts
in auditing and accounting.

<P align="center">22

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<P><HR noshade><P>

<P align="center">
<FONT size="5">$350,000,000</FONT>

<P align="center">
<B><FONT size="6">AMERCO</FONT></B>

<P align="center">
<FONT size="6">[UHAUL LOGO]</FONT>

<P align="center">
<FONT size="5">DEBT SECURITIES</FONT>

<P align="center">
<HR size="1" width="35%" align="center">

<DIV align="center">
<FONT size="5">PROSPECTUS</FONT>
</DIV>

<DIV align="center">
<HR size="1" width="35%" align="center">
</DIV>

<P align="center">
<FONT size="5">Dated
October&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
 2000</FONT>

<DIV>&nbsp;</DIV>

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<P><HR noshade><P>

<P align="center">PART II

<P align="center">
INFORMATION NOT REQUIRED IN PROSPECTUS

<P align="left">ITEM 14.&nbsp; OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION

<CENTER>
<TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="3%">&nbsp;</TD>
	<TD width="82%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="6%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="5%">&nbsp;</TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top"><FONT size="2">
	Securities and Exchange Commission Registration Fee</FONT></TD>
	<TD></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">52,800</FONT></TD>
	<TD></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top"><FONT size="2">
	Printing and Engraving Expenses</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">40,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top"><FONT size="2">
	Legal Fees and Expenses</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top"><FONT size="2">
	Accounting Fees and Expenses</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">40,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top"><FONT size="2">
	Other Expenses</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left"><HR size="1"></TD>
	<TD></TD>

</TR>

<TR>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Total Expenses</FONT></TD>
	<TD></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">193,800</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left">
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>*&nbsp;</TD>
	<TD align="left">
	Estimated</TD>
</TR>

</TABLE>

<P align="left">ITEM 15.&nbsp; INDEMNIFICATION OF DIRECTORS AND OFFICERS

<P align="left">
The Nevada General Corporation Law requires AMERCO to indemnify
officers and directors for any expenses incurred by any officer
or director in connection with any actions or proceedings,
whether civil, criminal, administrative, or investigative,
brought against such officer or director because of his or her
status as an officer or director, to the extent that the director
 or officer has been successful on the merits or otherwise in
defense of the action or proceeding. The Nevada General
Corporation Law permits a corporation to indemnify an officer or
director, even in the absence of an agreement to do so, for
expenses incurred in connection with any action or proceeding if
such officer or director acted in good faith and in a manner in
which he or she reasonably believed to be in or not opposed to
the best interests of the corporation and such indemnification is
 authorized by the stockholders, by a quorum of disinterested
directors, by independent legal counsel in a written opinion
authorized by a majority vote of a quorum of directors consisting
 of disinterested directors, or by independent legal counsel in a
 written opinion if a quorum of disinterested directors cannot be
 obtained. AMERCO&#146;s Restated Articles of Incorporation
eliminate personal liability of directors and officers, to AMERCO
 or its stockholders, for damages for breach of their fiduciary
duties as directors or officers, except for liability
(i)&nbsp;for acts or omissions that involve intentional
misconduct, fraud, or a knowing violation of law, or
(ii)&nbsp;for the unlawful payment of dividends. In addition,
AMERCO&#146;s Bylaws provide that AMERCO shall indemnify, to the
fullest extent authorized or permitted by law, any person made,
or threatened to be made, a defendant in any threatened, pending,
 or completed action, suit, or proceeding by reason of the fact
that he or she was a director or officer of AMERCO. AMERCO has
also executed Indemnification Agreements that provide that
certain of AMERCO&#146;s directors and officers shall be
indemnified and held harmless by AMERCO to the fullest extent
permitted by applicable law or the Restated Articles of
incorporation or Bylaws of AMERCO. AMERCO has established a trust
 fund with Harris Trust and Savings Bank as Trustee in order to
fund its obligations under the Indemnification Agreements. AMERCO
 has agreed to maintain a minimum balance in the trust fund of
$1,000,000. The Nevada General Corporation Law prohibits
indemnification of a director or officer if a final adjudication
establishes that the officer&#146;s or director&#146;s acts or
omissions involved intentional misconduct, fraud, or a knowing
violation of the law and

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV align="left">
were material to the cause of action. Despite the foregoing
limitations on indemnification, the Nevada General Corporation
Law may permit an officer or director to apply to the court for
approval of indemnification even if the officer or director is
adjudged to have committed intentional misconduct, fraud, or a
knowing violation of the law. The Nevada General Corporation Law
also provides that indemnification of directors is not permitted
for the unlawful payment of distributions, except for those
directors registering their dissent to the payment of the
distribution.
</DIV>

<P align="left">ITEM 16.&nbsp; EXHIBITS

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="6%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="5%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="85%">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><FONT size="2">EXHIBIT</FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><FONT size="2">NUMBER</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2">EXHIBIT</FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Form of Underwriting or Distribution Agreement for Debt
	Securities*</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4.1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Senior Indenture between AMERCO and The Bank of New York, dated
	April&nbsp;1, 1999<SUP>(1)</SUP></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4.2</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Supplemental Indenture between AMERCO and The Bank of New&nbsp;
	York*</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">5</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Opinion of Lionel, Sawyer&nbsp;&#38; Collins</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Statement re Computation of Ratios</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">23.1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Consent of Independent Accountants</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">23.2</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Consent of Lionel, Sawyer&nbsp;&#38; Collins (included in
	Exhibit&nbsp; 5)</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">24</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Power of Attorney (included on signature page of Registration
	Statement)</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">25</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Form&nbsp;T-1 Statement of Eligibility under the Trust Indenture
	Act of 1939, as amended, of The Bank of New York, as Trustee
	under the Indenture<SUP>(2)</SUP></FONT></TD>
</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="3%"></TD>
	<TD width="91%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>*&nbsp;</TD>
	<TD align="left">
	To be filed by means of Form&nbsp;8-K.</TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="7%"></TD>
	<TD width="93%"></TD>
</TR>

<TR valign="top">
	<TD>(1)</TD>
	<TD align="left">
	Incorporated by reference to AMERCO&#146;s Current Report on
	Form&nbsp;8-K filed on April&nbsp;4, 1999</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(2)</TD>
	<TD align="left">
	Incorporated by reference to AMERCO&#146;s Registration Statement
	 on Form&nbsp;S-3, Registration No.&nbsp;333-73357</TD>
</TR>

</TABLE>

<P align="left">ITEM 17.&nbsp; UNDERTAKINGS

<P align="left">
The undersigned registrant hereby undertakes:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="7%"></TD>
	<TD width="93%"></TD>
</TR>

<TR valign="top">
	<TD>(1)</TD>
	<TD align="left">
	To file, during any period in which offers or sales are being
	made, a post-effective amendment to this registration statement
	to include any material information with respect to the plan of
	distribution not previously disclosed in the registration
	statement or any material change to such information in the
	registration statement.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(2)</TD>
	<TD align="left">
	That, for the purpose of determining any liability under the
	Securities Act of 1933, each such post-effective amendment shall
	be deemed to be a new registration statement relating to the
	securities offered therein, and the offering of such securities
	at that time shall be deemed to be the initial bona fide offering
	 thereof.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(3)</TD>
	<TD align="left">
	To remove from registration by means of a post-effective
	amendment any of the securities being registered which remain
	unsold at the termination of the offering.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(4)</TD>
	<TD align="left">
	That, for purposes of determining any liability under the
	Securities Act of 1933, each such filing of the registrant&#146;s
	 annual report pursuant to Section&nbsp;13(a) or</TD>
</TR>

</TABLE>
<!-- PAGEBREAK -->
<P><HR noshade><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="7%"></TD>
	<TD width="93%"></TD>
</TR>

<TR valign="top">
	<TD></TD>
	<TD align="left">
	Section&nbsp;15(d) of the Securities Exchange Act of 1934 that is
	 incorporated by reference in the registration statement shall be
	 deemed to be a new registration statement relating to the
	securities offered therein, and the offering of such securities
	at that time shall be deemed to be the initial bona fide offering
	 thereof.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(5)</TD>
	<TD align="left">
	That, for purposes of determining any liability under the
	Securities Act of 1933, the information omitted from the form of
	prospectus filed as part of this registration statement in
	reliance upon Rule&nbsp;430A and contained in a form of
	prospectus filed by the registrant pursuant to
	Rule&nbsp;424(b)(1) or (4)&nbsp;or 497(h) under the Securities
	Act shall be deemed to be part of this registration statement as
	of the time it was declared effective.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(6)</TD>
	<TD align="left">
	That, for the purpose of determining any liability under the
	Securities Act of 1933, each post-effective amendment that
	contains a form of prospectus shall be deemed to be a new
	registration statement relating to the securities offered
	therein, and the offering of such securities at that time shall
	be deemed to be the initial bona fide offering thereof.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(7)</TD>
	<TD align="left">
	To file an application for the purpose of determining the
	eligibility of the Trustee to act under subsection (a)&nbsp;of
	Section&nbsp;310 of the Trust Indenture Act of 1939 in accordance
	 with the rules and regulations prescribed by the Commission
	under Section&nbsp; 305(b)(2) of the Trust Indenture Act of 1939.</TD>
</TR>

</TABLE>

<P align="left">
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers
and controlling persons of the registrant pursuant to the
provisions described in Item&nbsp;15 above, or otherwise, the
registrant has been advised that in the opinion of the Securities
 and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act of 1933 and is,
therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment
by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful
 defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the
securities being registered, the registrant will, unless in the
opinion of its counsel the matter has been settled by controlling
 precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public
policy as expressed in the Securities Act of 1933 and will be
governed by the final adjudication of such issue.

<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="center"><B><FONT size="4">SIGNATURES</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form&nbsp;S-3
 and has duly caused this registration statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the
City of Phoenix, State of Arizona, on the 20th day of October,
2000.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="42%"></TD>
	<TD width="58%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	AMERCO</TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="42%"></TD>
	<TD width="4%"></TD>
	<TD width="54%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>By:</TD>
	<TD align="left">
	/s/ EDWARD J. SHOEN</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="42%"></TD>
	<TD width="58%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<HR size="1" align="left"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	Edward J. Shoen</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	Chairman of the Board and President</TD>
</TR>

</TABLE>

<P align="left">
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons
in the capacities and on the dates indicated. Each person whose
signature appears below hereby authorizes Edward J. Shoen, as
attorney-in-fact, to sign in his name and behalf, individually
and in each capacity designated below, and to file any
amendments, including post-effective amendments to this
registration statement and any registration statement for the
same offering that is to be effective upon filing pursuant to
Rule&nbsp;462(b) of the Securities Act of 1933, and to file the
same, with all exhibits thereto, and all documents in connection
therewith, with the Securities and Exchange Commission, granting
unto said attorney-in-fact and agent, full power and authority to
 do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully and to
all intents and purposes as he might or could do in person hereby
 ratifying and confirming all that said attorney-in-fact and
agent may lawfully do or cause to be done by virtue hereof.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="44%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="39%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="11%">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name and Signature</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Title</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Date</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ EDWARD J. SHOEN<BR>
	<HR size="1">Edward J. Shoen</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Chairman of the Board and President (principal executive officer)</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ GARY B. HORTON<BR>
	<HR size="1">Gary B. Horton</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Treasurer (principal financial and accounting officer)</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ JAMES P. SHOEN<BR>
	<HR size="1">James P. Shoen</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ WILLIAM E. CARTY<BR>
	<HR size="1">William E. Carty</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ JOHN M. DODDS<BR>
	<HR size="1">John M. Dodds</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ CHARLES J. BAYER<BR>
	<HR size="1">Charles J. Bayer</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ RICHARD J. HERRERA<BR>
	<HR size="1">Richard J. Herrera</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ JOHN P. BROGAN<BR>
	<HR size="1">John P. Brogan</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	/s/ JAMES J. GROGAN<BR>
	<HR size="1">James J. Grogan</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	October&nbsp;20, 2000</FONT></TD>
</TR>

</TABLE>
</CENTER>
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="center">EXHIBIT INDEX

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="6%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="5%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="85%">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><FONT size="2">EXHIBIT</FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><FONT size="2">NUMBER</FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2">EXHIBIT</FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Form of Underwriting or Distribution Agreement for Debt
	Securities*</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4.1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Senior Indenture between AMERCO and The Bank of New York, dated
	April&nbsp;1, 1999<SUP>(1)</SUP></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4.2</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Supplemental Indenture between AMERCO and The Bank of New&nbsp;
	York*</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">5</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Opinion of Lionel, Sawyer &#38; Collins</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Statement re Computation of Ratios</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">23.1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Consent of Independent Accountants</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">23.2</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Consent of Lionel, Sawyer &#38; Collins (included in
	Exhibit&nbsp;5)</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">24</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Power of Attorney (included on signature page of Registration
	Statement)</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">25</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="bottom"><FONT size="2">
	Form&nbsp;T-1 Statement of Eligibility under the Trust Indenture
	Act of 1939, as amended, of The Bank of New York, as Trustee
	under the Indenture<SUP>(2)</SUP></FONT></TD>
</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="3%"></TD>
	<TD width="91%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>*&nbsp;</TD>
	<TD align="left">
	To be filed by means of Form&nbsp;8-K.</TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="7%"></TD>
	<TD width="93%"></TD>
</TR>

<TR valign="top">
	<TD>(1)</TD>
	<TD align="left">
	Incorporated by reference to AMERCO&#146;s Current Report on
	Form&nbsp;8-K filed on April&nbsp;4, 1999</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(2)</TD>
	<TD align="left">
	Incorporated by reference to AMERCO&#146;s Registration Statement
	 on Form&nbsp;S-3, Registration No.&nbsp;333-73357</TD>
</TR>

</TABLE>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>2
<FILENAME>p63987ex5.txt
<DESCRIPTION>EX-5
<TEXT>

<PAGE>   1
                                                                       EXHIBIT 5




                    [Letterhead of Lionel, Sawyer & Collins]

                                        October 20, 2000


AMERCO
1325 Airmotive Way, Suite 100
Reno, NV 89502-3239

        Re:     REGISTRATION STATEMENT ON FORM S-3

Gentlemen:

         At your request, we have examined the Registration Statement on Form
S-3 ("Registration Statement") relating to the registration and sale from time
to time by you of up to an aggregate of $350,000,000 of debt securities ("Debt
Securities") consisting of debentures, notes and/or other evidences of
indebtedness representing unsecured obligations of the Company in amounts, at
prices, and on terms to be determined at the time of offering. Capitalized terms
used but not otherwise defined herein shall have the meanings ascribed to them
in the Registration Statement.

         In connection with this opinion, we have examined:

         a.       the Registration Statement;

         b.       the Articles of Incorporation of AMERCO, as amended, certified
                  by the Nevada Secretary of State; and

         c.       the Bylaws of AMERCO certified by the Secretary of AMERCO.

         We have assumed that the proceeds from the sale of the Debt Securities
will be used for valid corporate purposes.

         We have assumed the authenticity of all documents submitted to us as
originals, the genuineness of all signatures, the legal capacity of natural
persons and the conformity to originals of all copies of all documents submitted
to us. We have relied upon the certificates of all public officials and
corporate officers with respect to the accuracy of all matters contained
therein.

         We further assume the following:

         a.       The Registration Statement being declared effective under the
                  Securities Act of 1933, as amended;

         b.       The due authorization of any resolutions of the Board of
                  Directors of AMERCO by which the Debt Securities are to be
                  issued;

         c.       The due authorization by the appropriate members of the Board
                  of Directors of AMERCO and the subsequent execution and
                  delivery of the agreements or indentures pursuant to which the
                  Debt Securities are to be issued, and the
<PAGE>   2
                  authentication of any such agreements or indentures under the
                  Trust Indenture Act of 1939, as amended, if required;

         d.       The due execution, registration and delivery of the
                  certificate or instrument or instruments evidencing the Debt
                  Securities; and

         e.       The securities being established, issued and sold in the
                  manner specified in the Registration Statement and the
                  exhibits thereto, in accordance with corporate and
                  governmental authorities and not in violation of any
                  applicable law, agreement or instrument.

         Based upon the foregoing and subject to the following it is our opinion
that:

         The Debt Securities to be issued by AMERCO will be legally issued and
will be the binding obligations of AMERCO subject to bankruptcy, insolvency,
moratorium and similar laws affecting the rights of creditors generally and to
general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law) and except that certain
provisions of the Debt Securities may not be enforceable in whole or in part
under the laws of the State of Nevada.

         You have informed us that you intend to issue the Debt Securities from
time to time on a delayed or continuous basis. Accordingly, this opinion is
subject to the laws, including the rules and regulations, as in effect on the
date hereof. We understand that prior to issuing any Debt Securities you will
advise us in writing of the terms thereof, will afford us an opportunity to
review the operative documents pursuant to which such Debt Securities are to be
issued (including the applicable Prospectus Supplement) and will file such
supplement or amendment to this opinion (if any) as we reasonably consider
necessary or appropriate by reason of the terms of the Debt Securities.

         Nothing herein shall be deemed an opinion as to the laws of any
jurisdiction other than the State of Nevada.

         This opinion is intended solely for the use of AMERCO in connection
with the Registration Statement. It may not be relied upon by any other person
or for any other purpose, or reproduced or filed publicly by any person, without
the written consent of this firm.

         We hereby consent to the use of this opinion as an exhibit to the
Registration Statement, and we further consent to the use of our name under the
caption "Legal Opinions" in the Registration Statement and Prospectus and in
"Legal Matters" in any Prospectus Supplement. We disclaim liability as an expert
under law.

                                        Very truly yours,

                                        /s/ Lionel, Sawyer & Collins
                                        LIONEL SAWYER & COLLINS
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12
<SEQUENCE>3
<FILENAME>p63987ex12.txt
<DESCRIPTION>EX-12
<TEXT>

<PAGE>   1
                                                                      Exhibit 12

<TABLE>
<CAPTION>
                                      Three months ended                 Year Ended March 31,
                                        June 30, 2000         2000      1999      1998      1997      1996
                                      ---------------------------------------------------------------------
<S>                                   <C>                    <C>       <C>       <C>       <C>       <C>
Pretax earnings from operations                    58.4      102.7      97.6      76.3      83.5      96.2
Plus: Interest expense                             22.8       81.5      73.7      79.4      76.0      67.6
      Amortization of debt
        expense and discounts                         -        0.5       0.3       0.3       0.1         -
      A portion of rental
        expense(1/3)                               13.5       45.2      39.6      30.0      28.7      23.0
                                      ---------------------------------------------------------------------
Subtotal(A)                                        94.7      229.9     211.2     186.0     188.3     186.8
                                      ---------------------------------------------------------------------

Divided by:
Fixed charges
      Interest expense                             22.8       81.5      73.7      79.4      76.0      67.6
      A portion of rental
        expense(1/3)                               13.5       45.2      39.6      30.0      28.7      23.0
      Interest capitalized during
        the period                                  0.1        1.4       0.9       2.2       3.4       1.8
      Amortization of debt
        expense and discounts                         -        0.5       0.3       0.3       0.1         -
                                      ---------------------------------------------------------------------
Subtotal(B)                                        36.4      128.6     114.5     111.9     108.2      92.4
                                      ---------------------------------------------------------------------

Ratio of earnings to fixed
charges(A)/(B)                                     2.60       1.79      1.84      1.66      1.74      2.02
                                      =====================================================================
</TABLE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>p63987ex23-1.txt
<DESCRIPTION>EX-23.1
<TEXT>

<PAGE>   1
                                                                    EXHIBIT 23.1



                       CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in this Registration
Statement on Form S-3 of our report dated June 26, 2000 relating to the
financial statements and financial statement schedules, which appears in
AMERCO's Annual Report on Form 10-K for the year ended March 31, 2000. We also
consent to the reference to us under the heading "Experts" in such Registration
Statement.


PricewaterhouseCoopers LLP
Phoenix, Arizona
October 20, 2000





</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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