Press Release Details

WESTPORT, CT--(BUSINESS WIRE)--January 26, 2001--Terex Corporation (NYSE: TEX) announced today that it has agreed to make an equity investment into SourceRight.com, a B2B e-commerce industrial supply company, focused on the cost-effective supply of materials and supplies to the construction and mining industries.

"This investment will allow Terex to develop an e-presence in the materials and supplies business," said Ronald M. DeFeo, Terex's Chairman and Chief Executive Officer. "We recently announced the launching of EarthKing, an independent and unbiased Internet marketplace for the construction and mining equipment industry. SourceRight provides EarthKing with a comprehensive source of supplies and materials, tailored to its target markets. SourceRight's approach to driving down supply chain waste, simplifying the purchasing process and aggressive pricing will provide real, tangible savings for EarthKing's customers. We are particularly pleased with the SourceRight relationship because EarthKing's customers can begin to reap its benefits right away."

"The SourceRight team is pleased to have Terex as a strategic, value-added investor," commented Derek Everitt, SourceRight President and CEO. "Partnering with a strong, experienced company like Terex allows us to sustain our aggressive advance into the mining and specialized construction markets. It is a strong signal to those markets that SourceRight and its MineSupplies.com, TunnelSupplies.com and other specialized website operations are in business for the long haul. The relationship with Terex and EarthKing will benefit all parties, particularly our customers, who will have unprecedented access to EarthKing's full menu of products and services." About Terex Corporation

Terex Corporation is a diversified global manufacturer based in Westport, Connecticut, with expected 2000 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, large hydraulic mining shovels under the brand name O&K, as well as backhoe loaders under the brand name Fermec. 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 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 and Matbro. More information on Terex can be found at www.terex.com. About SourceRight.com, Inc.

Based in Bristol, Virginia, and London, Ontario, SourceRight.com, Inc., is a B2B e-commerce company that offers a one-stop materials and supplies sourcing solution to the mining and construction industries through its www.SourceRight.com website, and its www.MineSupplies.com, www.TunnelSupplies.com, and www.ConcreteToolandSupply.com specialized websites. The company's extensive on-line catalog offers over 100,000 products from hundreds of vendors. By utilizing the skills of its seasoned sourcing team and keeping operating costs at absolute minimum levels, SourceRight consistently beats competitors' prices while providing unequalled customer service. Customers purchase on-line, create on-line RFQs, and/or communicate directly with SourceRight's experienced sales and service team. SourceRight was founded in 1999 and is a privately held company. More information on SourceRight can be found at www.SourceRight.com. Safe Harbor Statement

Certain information in this announcement includes forward-looking statements regarding future events or the future performance of the Company that involve certain contingencies and uncertainties. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual events or performance to differ materially from those reflected in such forward-looking statements. Such risks and uncertainties, many of which are beyond the Company's control, include, among others: the effects of changes in laws and regulations; the effect of interest rates, government spending and general economic conditions on construction and mining activity; the national and international political climate; and other factors, risks and uncertainties set forth in more detail in the Company's public filings. Actual events or performance may differ materially from any forward-looking statement due to these and other risks, uncertainties and significant factors.