Actuant Announces European Business Acquisition

MILWAUKEE--Sept. 16, 2004--Actuant Corporation announced today that it has completed the purchase of all the outstanding shares of Yvel S.A. ("Yvel") for approximately EUR 7.5 million (US$9.0 million) in cash. Located in Paris, France, Yvel is a leading provider of hydraulic latches to the European cab-over-engine truck market. It had annual sales of approximately $15 million in calendar 2003, has approximately 85 employees and is expected to be accretive to Actuant's earnings per share during fiscal 2005. Funding for the transaction was provided by borrowings under Actuant's $250 million revolving credit facility.

Robert Arzbaecher, President and Chief Executive Officer of Actuant, commented, "Yvel's market leadership, geographic proximity, and manufacturing competency complements our Power-Packer truck business. Yvel latches are often used in combination with Power-Packer cab-tilt systems to provide complete engine access solutions."

Yvel's management team will continue to lead the business following the acquisition, and will be included in Actuant's Engineered Solutions segment. Bill Blackmore, Engineered Solutions Leader, stated, "Yvel is a natural addition to Power-Packer's truck business. The globalization of our customers, demands for product line consolidation opportunities, and potential synergies are all factors supporting this deal. We believe that combining our respective product lines and development talents will offer customers unparalleled opportunity."

The Company also announced that it will be reporting fourth quarter and fiscal year 2004 results on Thursday, September 30.

Safe Harbor Statement

Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. Management cautions that these statements are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Actuant's results are also subject to general economic conditions, variation in demand from customers, the impact of geopolitical activity on the economy, continued market acceptance of the Company's new product introductions, the successful integration of business unit acquisitions and related restructuring, operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, foreign currency fluctuations and interest rate risk. See the Company's registration statements filed with the Securities and Exchange Commission for further information regarding risk factors.

Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with operations in more than 20 countries. The Actuant businesses are leading companies selling highly engineered position and motion control systems and branded tools. Products are offered under such established brand names as Dresco, Enerpac, Gardner Bender, Kopp, Kwikee, Milwaukee Cylinder, Nielsen Sessions, Power-Packer, and Power Gear.

For further information on Actuant and its business units, visit the Company's website at www.actuant.com.