Cascade Corporation Directors Approve Quarterly Dividend

13 November 1998

Cascade Corporation Directors Approve Quarterly Dividend; Elect Vice President -- Sales and Two New Directors

    PORTLAND, Ore.--Nov. 13, 1998--Robert C. Warren, Jr., President and Chief Executive Officer of Cascade Corporation announced that the Board of Directors has declared the regular quarterly dividend of $.10.
    The dividend will be paid on December 11, 1998 to shareholders of record on November 19, 1998.
    Warren added that operating results continue to improve. "We are pleased with results of our efforts to improve margins and cut operating costs," Warren said.
    The Board of Directors also elected James R. Keene to the position of Vice President -- Sales. Keene was previously Sales Manager -- Americas, and has been employed by Cascade since 1981.
    Greg H. Kubicek of Camas, Washington and Henry W. Wessinger II of Portland, Oregon were elected to the board. Kubicek, a graduate of Harvard University, is President of The Holt Company, a developer of commercial and residential property. Wessinger, a graduate of the University of Oregon and the Amos Tuck School of Business Administration at Dartmouth College, is a Senior Vice President of Ragen Mackenzie Incorporated, a regional securities and investment firm.
    Cascade Corporation, headquartered in Portland, Oregon is a leading international manufacturer of lift truck attachments, forks, tires and accessories.
    Under the "safe harbor provisions" of the Private Securities Litigation Act, Cascade is required to advise you this news release contains "forward looking statements" based on assumptions as to future sales and earnings, which in turn are dependent on economic conditions in general, including interest rates, on competitive factors in, and on the cyclical nature of, the Materials Handling Industry.