The son of long-time Supertruck and production-car racer John Falk, Ben Falk joins the team to make his SuperUtes debut in the Holden.
Ryal Harris stays on with Peters Motorsport for a title defence in his Mazda, while the second BT-50 finished fifth in 2018 with Aaron Cameron.
"Ben is one of these young fellas that has done everything; he has raced boats, he has raced motocross and he even jumped in a Supercar (in what's now the Dunlop Super2 Series) years ago," Peters told Supercars.com.
"He has sort of done a bit of everything and this is his chance to get back into a seat for a season."
Harris will dovetail his SuperUtes drive with a Peters Motorsport-run Touring Car Masters campaign, while Cameron's place is under a cloud as he searches for funding.
"We're not sure if Aaron's family will want to fund him through Adelaide, but we've got someone up our sleeve to drive it if they don't want to do that," Peters added.
"The car will be there. We'll give every chance we've got to have Aaron in the car, but we've got a couple of other proposals out there."
Toyota line-up locked in
Western Sydney Motorsport will, meanwhile, field a four-strong Toyota Hilux operation, prepared by Sieders Racing.
The 2018 runner-up, Craig Woods is signed on for another full season, as is Ben Walsh, who finished fourth.
Micheal Sieders and Luke Vanna are the additions; Sieders after contesting four rounds of the 2018 season with Team Triton and Vanna one in a WSM Toyota, below on the Gold Coast.