Hideaki Ninomiya Named Mitsubishi Caterpillar Forklift America Inc. President

HOUSTON, Oct. 29, 2003 -- Mitsubishi Caterpillar Forklift America Inc. ("MCFA"), a Houston-based forklift manufacturing company, announces the appointment of Hideaki Ninomiya as President. Mr. Ninomiya has a strong combination of financial background and more than 15 years of experience in the material handling industry with Mitsubishi Heavy Industries, Ltd. ("MHI") and MCFA.

"MCFA is a much stronger company than when I left over three years ago," said Mr. Ninomiya. "There have been significant improvements in facilities, in management processes and in the organizational structure. I know we can continue to build on this progress because MCFA is well positioned to surpass the competition by delivering the best combination of quality forklifts, parts and services to our dealers and customers."

After serving as Vice President and Treasurer at Mitsubishi Forklift America from 1988-1991, he returned to Tokyo to participate in negotiations with Caterpillar Inc. to form a joint venture, which resulted in the formation of three Mitsubishi Caterpillar Forklift companies in 1992. After helping coordinate the establishment of these companies, he returned to Houston in 1996 as Vice President and Treasurer at MCFA and held that position until 2000.

Mr. Ninomiya's most recent assignment was Senior General Manager at MHI's General Machinery and Special Vehicle Headquarters in Sagamihara, Japan. He considers Houston a second home as this is Mr. Ninomiya's third time to live and work in Texas. After he earned his bachelor's degree in Sociology from Hitotsubashi University in Tokyo, Japan, Mr. Ninomiya earned a master's degree in business from the University of Washington.

Mitsubishi Caterpillar Forklift America Inc., headquartered in Houston, Texas, manufactures Mitsubishi forklift trucks and Cat(R) lift trucks. MCFA is ISO 9001-2000 certified and has obtained compliance certification from the California Air Resources Board (CARB). MCFA is home to more than 800 employees dedicated to becoming the premier producer of superior quality forklifts. MCFA provides a full line of forklifts with complete sales and product support through more than 600 dealer locations throughout the United States, Canada and Latin America.

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