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Cascade Corporation Directors Approve Quarterly Dividend

12 February 1999

Cascade Corporation Directors Approve Quarterly Dividend

    PORTLAND, Ore.--Feb. 12, 1999--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 March 12, 1999 to shareholders of record on February 18, 1999.
    Warren added that operating results in the fourth quarter will be below previous expectations. "We expect 1998 to compare favorably with last year, but revenues in the last three months were not as strong as we anticipated," Warren said. "It appears the European market has not continued the recovery we reported with our third quarter results."
    Warren noted that the company is well positioned going into the new year. "Changes we have been making throughout 1998 should be evident in 1999," according to Warren. "Operating costs have been falling and margins improving, and we expect this trend to continue," he said.
    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.