Terex Announces That Its American Truck Company Joint Venture Has Been Awarded Phase 1 Marine Corps Truck Contract

WESTPORT, Conn.--March 25, 2004--Terex Corporation today announced that its joint venture, American Truck Company, LLC ("ATC"), in which Terex has a two-thirds interest, has been awarded and entered into a contract with the U.S. Marine Corps to supply three prototype Logistic Vehicle System Replacement ("LVSR") trucks. This contract, valued at $5.6 million, represents the first phase in a two-part process to determine the vehicle that ultimately will be selected by the U.S. Marine Corps for a total of up to 1,022 truck order. ATC is one of only two suppliers chosen to advance to the next phase of the proposal and evaluation process. The announcement by the U.S. Marine Corps follows the conclusion of a competition between ATC and other U.S. military truck manufacturers.

The U.S. Marine Corps will put the three ATC prototype vehicles through a 12,000-mile accelerated endurance test, performance testing, and an operational assessment conducted by Marine operators and maintainers. The LVSR program is intended to replace the Marine Corps' existing heavy fleet with more capable, robust vehicles. The anticipated vehicles will include cargo, fifth wheel and wrecker variants. The current contract is only for the system development and demonstration phase. Fabrication and testing will be limited to the cargo variant only. The three prototype LVSR trucks will be manufactured by ATC in Fort Wayne, Indiana and will be completed by March 2005.

ATC trucks are based on the proprietary design developed and tested over many years by Terex's subsidiary, Tatra a.s., and feature a "central backbone" chassis design with an all-wheel drive suspension that can be configured as 4x4, 6x6, 8x8, 10x10, and even 12x12. This modularity of the chassis and suspension design lends itself to a diverse range of vehicle configurations, including cargo carriers, load handling systems, weapon platforms, tankers, firefighting vehicles, aerial work platforms and more, with a payload range from five to 40 tons.

"Terex is both proud and grateful for this opportunity to compete for the supply of trucks and services to one of the military's most discriminating customers," commented Ronald M. DeFeo, Terex's Chairman and Chief Executive Officer. "We are confident in both our team of dedicated employees and in our product, and we are certain that we will deliver on our promise of a high quality product that will meet or exceed the requirements of the U.S. Marine Corps."

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