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Cascade Corporation Files 1,630,000 Share Shelf Registration for Holders

30 September 1998

Cascade Corporation Files 1,630,000 Share Shelf Registration for Holders

    PORTLAND, Ore.--Sept. 30, 1998--Cascade Corporation has filed a shelf registration with the Securities and Exchange Commission covering 1,630,000 common shares for holders of equity interests received when Cascade acquired Kenhar Corporation, Industrial Tires Limited, and Hyco-Cascade Pty., Ltd..
    The registration includes 1,405,000 common shares which may be issued in exchange for currently outstanding shares of Canadian subsidiaries. The Canadian subsidiary shares have been reflected in Cascade's reported diluted earnings and carry rights to dividends equal to those paid on Cascade common shares.
    An entity controlled by Kenhar founder William J. Harrison owns 1,100,000 of the Canadian subsidiary shares which are being exchanged for the same number of Cascade common shares. The common shares are being registered in accordance with agreements relating to the Kenhar acquisition. Harrison is currently an executive officer and director of Cascade.
    Holders of shares covered by the S-3 registration will have the option of selling Cascade common shares from time to time once the Commission clears the registration.
    No proceeds will accrue to Cascade, and the holders will be responsible for brokerage commissions or fees in connection with any sale.
    Cascade Corporation, headquartered in Portland, Oregon is a leading international manufacturer of lift truck attachments, forks, tires and accessories.