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Terex Mining Announces Alliance Agreement in Canada

July 05, 2000

WESTPORT, Conn.--(BUSINESS WIRE)--July 5, 2000--Terex Mining, Canada, a unit of Terex Corporation (TEX: NYSE), today announced that it has entered into a strategic alliance with Equipment Sales & Service Limited (ES&S), Canada's foremost privately owned supplier and provider of parts and service to the construction and mining industries. Under this alliance, ES&S will become the parts and service provider for all Terex Mining product lines in Western Canada, including Saskatchewan, Alberta, British Columbia, the Yukon and the Northwest Territories. The Terex product lines that are part of this agreement include O&K, which manufactures the world's largest hydraulic shovel, and Unit Rig high capacity surface mining trucks, which in 1999 became the market leader in this category after receiving over $350 million in new orders from mining companies worldwide. Terex Mining is part of Terex Earthmoving, a business unit whose revenues have grown from $456 million in 1998 to $879 million in 1999. This alliance took effect June 30, 2000.

For the past 55 years, ES&S has been providing aftermarket parts and service to virtually all makes of capital equipment to Canada's construction and mining companies from 8 locations across Canada. ESS is one of the largest distributors of aftermarket-related products, representing varied industry leader across different product lines. This alliance between Terex Canada and ES&S complements the service provider agreement that the two companies have in the Provinces of Ontario and Quebec for Terex's articulated trucks and O&K mining shovels. It also further strengthens ESS's corporate mission and direction, by broadening its already significant involvement in Alberta's tar sands projects, Canada's largest mining endeavor.

Terex Corporation is a diversified global manufacturer based in Westport, Connecticut, with 2000 pro forma annual revenues in excess of $2 billion. Terex is involved in a broad range of construction, infrastructure and mining-related capital equipment operating in two segments -- Terex Earthmoving and Terex Lifting. Terex Earthmoving manufactures and sells heavy-duty off-road trucks and high-capacity surface mining trucks under the brand names of Terex, Unit Rig and Payhauler, as well as large hydraulic mining shovels under the brand name O&K. Terex entered the infrastructure building business in 1999 with the acquisitions of Powerscreen and Cedarapids. Terex Lifting manufactures and sells telescopic mobile cranes, lattice boom cranes, tower cranes, aerial work platforms, utility aerial devices, telescopic material handlers, truck mounted lift trucks, truck mounted cranes, and related products, under the brand names Terex, Lorain, PPM, P&H, Franna, Marklift, Koehring, Bendini, Simon, RO, Telelect, Square Shooter, Holland Lift, American, Italmacchine, Peiner, Comedil, Matbro, Moffett, Kooi and Princeton.

CONTACT: Terex Mining

Bill Mateychuk, Vice President

770/456-0921

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