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NACCO Announces Termination of Discussions on Nissan's Global Forklift Truck Business

24 January 2000

NACCO Announces Termination of Discussions on Nissan's Global Forklift Truck Business

    MAYFIELD HEIGHTS, Ohio, Jan. 24 -- NACCO Industries, Inc.
today announced that NACCO and its operating subsidiary NACCO
Materials Handling Group, Inc. (NMHG) are no longer pursuing the acquisition
of the global forklift truck business of Nissan Motor Co., Ltd. because NACCO
was unable to reach agreement with Nissan regarding the terms and conditions
of the transaction.  The memorandum of understanding with Nissan originally
announced in May 1999 has been terminated.
    NACCO Materials Handling Group, Inc. designs, engineers, manufactures and
sells a full line of lift trucks and replacement parts marketed worldwide
under the Hyster(R) and Yale(R) brand names and under the Yale(R) and
Sumitomo-Yale brand names in Japan through its 50-50 joint venture with
Sumitomo Heavy Industries Ltd.
    NACCO Industries, Inc. is an operating holding company with three
principal operating businesses.  In addition to NACCO Materials Handling
Group, Inc., NACCO Industries owns NACCO Housewares Group, which consists of
Hamilton Beach*Proctor-Silex, Inc., a leading manufacturer and marketer of
small electric motor and heat-driven household appliances as well as
commercial products for restaurants, bars and hotels, and The Kitchen
Collection, Inc., a national specialty retailer of brand-name kitchenware,
small electrical appliances and related accessories; and The North American
Coal Corporation, which mines and markets lignite primarily as fuel for power
generation by electric utilities.