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Oshkosh Truck Closes Deal for Medtec Ambulance Corporation

1 November 2000

Oshkosh Truck Closes Deal for Medtec Ambulance Corporation; Acquisition Expected to be Accretive Within One Year

    OSHKOSH, Wis.--Oct. 31, 2000--Oshkosh Truck Corporation [NASDAQ:OTRKB], a leading manufacturer of specialty trucks and truck bodies, announced today that it has completed the purchase of 100 percent of the stock of Medtec Ambulance Corporation. Medtec, a top U.S manufacturer of custom ambulances, manufactures a broad line of ambulances for private patient transporters, fire departments, and public transporters. Medtec's division, American Fire & Rescue, manufactures and markets a line of rescue vehicles to the fire service.
    "This is an important acquisition for our growth strategy in the fire and emergency market. It positions us within the growing ambulance market and provides excellent potential for growth in both the short- and long-term. We intend for Medtec to be accretive within the first year," said Robert G. Bohn, chairman, president and chief executive officer of Oshkosh Truck.
    Medtec will be included in the Company's fire and emergency segment along with Pierce Manufacturing Inc., Oshkosh's subsidiary that is the leading U.S. manufacturer of custom fire apparatus.