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Cascade Announces Sale of Mast Business Unit

25 January 1999

Cascade Announces Sale of Mast Business Unit

    PORTLAND, Ore--Jan. 25, 1999--Robert C. Warren, Jr., President and Chief Executive Officer of Cascade Corporation reported that the previously announced sale of the company's mast business unit to Lift Technologies, Inc. has been completed.
    "Effective with this week, Cascade Corporation will not manufacture masts," Warren said, "but we look forward to selling masts made by Lift Technologies to our dealer customers, and we wish the new company the best in the future.
    Lift Technologies, Inc. is headed by former Cascade officer and director William Harrison. In connection with the transaction, Cascade redeemed 300,000 shares indirectly held by Harrison as partial payment for the assets purchased.
    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.