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Toyota Industries Corporation Announces Certification of Substantial Compliance and Extension of Cash Tender Offer for Shares of Cascade Corporation


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KARIYA, Japan--February 28, 2013: Toyota Industries Corporation (Tokyo Stock Exchange: 6201) ("TICO") today announced that Industrial Components and Attachments II, Inc., an indirect wholly owned subsidiary of TICO, has extended its tender offer for all outstanding common shares of Cascade Corporation ("Cascade") for $65.00 per share (the "Offer"). The Offer was scheduled to expire at 12:00 midnight, New York City time, on Thursday, February 28, 2013. With the consent of Cascade, the Offer has been extended to expire at 12:00 midnight, New York City time, on Thursday, March 21, 2013, unless further extended. All other terms and conditions of the Offer remain unchanged.

As previously announced, TICO received a Request for Additional Information and Documentary Material (the "Second Request") from the Antitrust Division of the Department of Justice (the "Antitrust Division") with respect to the Offer. On February 15, 2013, TICO certified to the Antitrust Division substantial compliance with the Second Request. Additionally, TICO provided a timing commitment to the Antitrust Division pursuant to which TICO committed not to close the transaction prior to 30 days thereafter without the consent of the Antitrust Division and to provide at least 10 days notice to the Antitrust Division prior to consummating the acquisition of Cascade. Cascade informed TICO that it also received a Request for Additional Information and Documentary Material from the Antitrust Division and that it is currently in the process of responding to such request and intends to cooperate with the Antitrust Division with respect to such request. TICO expects to continue to work cooperatively with the Antitrust Division as it completes its review of the proposed transaction in order to respond to and resolve expeditiously any questions the Antitrust Division may have. The Offer is now scheduled to expire at 12:00 midnight, New York City time, on Thursday, March 21, 2013. The transaction is expected to be completed immediately upon receiving regulatory approval from the Antitrust Division.

Computershare Trust Company, N.A., the depositary for the Offer, has advised TICO that, as of 5:00 p.m., New York City time, on February 28, 2013, 9,990,707 shares of common stock of Cascade had been validly tendered and not properly withdrawn in the Offer (including 486,973 shares tendered pursuant to notices of guaranteed delivery), representing approximately 89.2% of Cascade's outstanding shares. Shareholders who have already tendered their shares of common stock of Cascade do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the Offer.

Nomura Securities is serving as exclusive financial advisor to TICO and White & Case LLP is serving as TICO's legal advisor in connection with the transaction. BofA Merrill Lynch is serving as exclusive financial advisor to Cascade, and Miller Nash LLP is serving as Cascade's legal advisor.