Manitex International, Inc. Adopts Shareholder Rights Plan

BRIDGEVIEW, Ill., October 17, 2008: Manitex International, Inc. ("Manitex" or the "Company") announced that its Board of Directors has adopted a shareholder rights plan. The shareholder rights plan includes the declaration of a dividend of one preferred share purchase right on each outstanding share of the Company's common stock. The issuance of the rights under the shareholder rights plan will be made on October 31, 2008 to shareholders of record as of the close of business on October 21, 2008.

The rights are designed to enable all Manitex shareholders to realize the full long-term value of their investment and to provide for fair and equal treatment for all shareholders in the event that an unsolicited attempt is made to acquire Manitex. Manitex's Board of Directors believes the value of the Company's assets is not reflected in the current market price of the Company's stock, which may make the Company vulnerable to abusive takeover tactics. The Company believes that adoption of the rights plan is in the best interests of all the Company's shareholders, as it will help to protect shareholders against takeover tactics that may be used to gain control of the Company without paying a price that is in the best interest of all shareholders.

In general, the rights will be exercisable only if a person or group acquires 15% or more of the Company's common stock or announces a tender offer, consummation of which would result in ownership by a person or group of 15% or more of the common stock.

Each right will initially entitle shareholders, other than the acquiring person or group, to buy one one-hundredth of one share of a series of the Company's preferred stock at an initial exercise price of $35.00 per one one-hundredth share, subject to adjustment. In general, if any person becomes a 15% or more shareholder of the Company, each right (subject to certain limitations) will entitle its holder to purchase, at the right's then-current exercise price (per one-hundredth share of preferred stock), a number of common shares of the Company (in lieu of preferred shares) having a market value at the time of twice the right's exercise price. In addition, if after the rights have become exercisable, an acquiring company were to merge or otherwise combine with the Company, or the Company were to sell 50% or more of its assets or earning power, then each right will generally entitle the holder, other than the acquiring person or group, to acquire, for the exercise price of $35.00 per right (subject to adjustment as provided in the plan), that number of shares of common stock of the acquiring company that, at the time of such transaction, have a market value of two times the exercise price of the right.

Manitex's Board of Directors may redeem the rights for $0.001 per right at any time prior to the time when the rights become exercisable. Unless the rights are redeemed, exchanged or terminated earlier, they will expire on October 17, 2018.

Additional details regarding the rights plan are contained in a Form 8-K to be filed by Manitex International, Inc. with the Securities and Exchange Commission and in a summary to be mailed to all shareholders following the record date.