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Terex Corporation Announces New Operating Structure and Names Management Team

September 11, 2002

WESTPORT, Conn.--(BUSINESS WIRE)--Sept. 11, 2002--Terex Corporation (NYSE: TEX) announced today a new operating structure organizing the company into four primary reporting groups: Terex Cranes, Terex Construction, Terex Mining, and Terex Roadbuilding and Utility Products.

Upon the completion of the previously announced acquisition of Genie Industries, Inc., Terex will add Terex Aerial Work Platforms as a fifth reporting group. Financial data for Terex for 1999, 2000, 2001 and the first six months of 2002, reflecting the new operating structure, is attached to this release.

"The purpose of these changes is to strengthen the company's ability to service our customers and to provide a better return to our shareholders," commented Ronald M. DeFeo, Terex's Chairman and Chief Executive Officer. "Over the past twelve months we have grown as a company and have added over $1.5 billion in pro forma revenues through eight completed or announced acquisitions. These acquisitions have continued to increase our product and geographic diversification and will improve the overall Terex franchise. With growth, however, comes change, and today's announcement reflects the continued growth and management leadership required to run our businesses." Mr. DeFeo added, "The new organizational structure not only aligns us more closely with how our customers buy our equipment, but also puts manufacturing and sales for each product group under focused leadership. I am confident that the new structure will allow us to better focus on servicing our customers and markets and provide products which generate greater value for our customers."

Fil Filipov, formerly Terex Executive Vice President, has been named as President - Terex Cranes. In this new capacity, he will be responsible for all operations, manufacturing, and sales and marketing activities for Terex crane products sold worldwide, including mobile telescopic cranes, lattice boom cranes, tower cranes and boom trucks. Mr. Filipov will lead the integration and future growth of the recent Demag acquisition as part of the Terex Crane group. Demag, which fills a strategic need within the product portfolio, solidifies the Terex European crane franchise and positions Terex to compete as a leading worldwide crane company. In addition to Terex's crane businesses, Mr. Filipov will continue to be responsible for Terex's Advance Mixer operations and Terex's investment in Tatra a.s.

Colin Robertson, formerly President Terex Europe, has been named as President - Terex Construction. In this new capacity, he will be responsible for all operations, manufacturing, and sales and marketing for Terex construction products sold worldwide, including off-highway articulated and rigid trucks, loader backhoes, mini and midi excavators, wheeled excavators, compaction equipment, telehandlers and wheel loaders. The Terex Construction organization consolidates Terex's construction equipment lines and establishes it as a major competitor in both the heavy and compact product areas, bringing under one roof a powerful combination of products with tremendous growth potential. Mr. Robertson will continue to be responsible for the Powerscreen Group, which includes the Powerscreen, Finlay and BL Pegson businesses.

Thys de Beer will continue in his current role as President - Terex Mining. Terex Mining is a leading supplier of haul trucks and mining shovels with operations and offices around the world focused on the surface mining segment, including the operations of O&K Mining and Unit Rig.

The Terex Roadbuilding and Utility Products Group will be led by Mr. DeFeo. Included in this group will be Terex's product offerings for the roadbuilding, utility, and light construction industries, including asphalt and concrete plants and pavers, reclaimers, stabilizers and milling machines, crushing and screening equipment (with the exception of the Powerscreen Group), aerial devices, digger derricks, tree trimmers, light towers and generators. Reporting to Mr. DeFeo will be Bill McClane, President - Cedarapids, Jim Holland, President - CMI Terex, Chris Ragot, President - Terex Utilities, and Kerry O'Sullivan, President - Terex Light Construction.

As noted above, upon completion of Terex's acquisition of Genie, scheduled to take place late in the third quarter of 2002, Genie will make up a new reporting group, Terex Aerial Work Platforms, with Bob Wilkerson, currently President of Genie, having responsibility for this group and reporting to Mr. DeFeo.

Ernie Verebelyi, who has been serving as Group President - Terex Americas, has announced his intention to retire effective September 30, 2002. "Ernie joined the company in 1998 and during the past four years has played a critical role in the growth and profitability of Terex," said Mr. DeFeo. "During his tenure, Terex grew from $1.2 billion in annual revenues to $3.4 billion in annual revenues pro forma for the recently completed and announced acquisitions. I want to thank Ernie for his hard work and dedication in helping to build a stronger Terex franchise."

Safe Harbor Statement

The above contains forward-looking information based on Terex's current expectations. Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and uncertainties, many of which are beyond Terex's control, include among others: Terex's business is highly cyclical and weak general economic conditions may affect the sales of its products and its financial results; the sensitivity of construction and mining activity to interest rates, government spending and general economic conditions; the ability to successfully integrate acquired businesses; the retention of key management personnel; foreign currency fluctuations; Terex's businesses are very competitive and may be affected by pricing, product initiatives and other actions taken by competitors; the effects of changes in laws and regulations; Terex's business is international in nature and is subject to changes in exchange rates between currencies, as well as international politics; the ability of suppliers to timely supply Terex parts and components at competitive prices; the financial condition of suppliers and customers, and their continued access to capital; Terex's ability to timely manufacture and deliver products to customers; Terex's substantial amount of debt and its need to comply with restrictive covenants contained in Terex's debt agreements; compliance with applicable environmental laws and regulations; and other factors, risks, uncertainties more specifically set forth in Terex's public filings with the SEC. Actual events or the actual future results of Terex may differ materially from any forward looking statement due to those and other risks, uncertainties and significant factors. The forward-looking statements herein speak only as of the date of this release. Terex expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement included in this release to reflect any changes in Terex's expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.

Terex Corporation is a diversified global manufacturer based in Westport, Connecticut, with 2001 annual revenues in excess of $1.8 billion. Terex is involved in a broad range of construction, infrastructure, recycling and mining-related capital equipment under the brand names of Advance, American, Amida, Atlas, Bartell, Bendini, Benford, Bid-Well, B.L. Pegson, Canica, Cedarapids, Cifali, CMI, Coleman Engineering, Comedil, CPV, Demag, Fermec, Finlay, Franna, Fuchs, Grayhound, Hi-Ranger, Italmacchine, Jaques, Johnson-Ross, Koehring, Lectra Haul, Load King, Lorain, Marklift, Matbro, Morrison, Muller, O&K, Payhauler, Peiner, Powerscreen, PPM, Re-Tech, RO, Royer, Schaeff, Simplicity, Square Shooter, Telelect, Terex, and Unit Rig. More information on Terex can be found at www.terex.com.

                  Terex Corporation and Subsidiaries
                     Business Segment Information
                             (in millions)
                              (unaudited)

                         Q1 99   Q2 99    Q3 99    Q4 99     1999 
                     ----------------------------------------------
As Reported                                                        
  Net sales                                                        
     Construction        102.9   112.0    144.9    147.4     507.2 
     Cranes              190.7   202.0    182.5    136.7     711.9 
     Mining              112.3   103.1    110.6    127.0     453.0 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           31.0    47.9     68.4     89.2     236.5 
     Corp. &                                                       
      Eliminations       (13.6)  (16.9)   (10.8)   (10.7)    (52.0)
                     ----------------------------------------------
          Total          423.3   448.1    495.6    489.6   1,856.6 
                     ==============================================

  Gross margin                                                     
     Construction         16.0    18.3     27.8     29.8      91.9 
     Cranes               29.6    30.5     27.0     16.4     103.5 
     Mining               19.0    18.4     20.3     17.6      75.3 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            6.6    10.0     13.7     15.5      45.8 
     Corp. &                                                       
      Eliminations        (0.3)   (0.5)    (0.3)     1.3       0.2 
                     ----------------------------------------------
          Total           70.9    76.7     88.5     80.6     316.7 
                     ==============================================

  Selling, General &                                               
   Admin.                                                          
     Construction          6.4     5.9     12.2     11.7      36.2 
     Cranes               11.4    11.1     12.0     12.0      46.5 
     Mining                9.5     9.1      9.7     11.4      39.7 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            1.9     2.1      5.0      8.1      17.1 
     Corp. &                                                       
      Eliminations         1.2     1.5     (0.2)    (3.6)     (1.1)
                     ----------------------------------------------
          Total           30.4    29.7     38.7     39.6     138.4 
                     ==============================================

  Income from                                                      
   operations                                                      
     Construction          9.6    12.4     15.6     18.1      55.7 
     Cranes               18.2    19.4     15.0      4.4      57.0 
     Mining                9.5     9.3     10.6      6.2      35.6 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            4.7     7.9      8.7      7.4      28.7 
     Corp. &                                                       
      Eliminations        (1.5)   (2.0)    (0.1)     4.9       1.3 
                     ----------------------------------------------
          Total           40.5    47.0     49.8     41.0     178.3 
                     ==============================================

  Depreciation &                                                   
   amortization (1)                                                
     Construction          1.2     1.2      2.6      4.4       9.4 
     Cranes                2.2     2.1      2.4      3.0       9.7 
     Mining                1.4     1.4      1.4      1.4       5.6 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            0.4     0.6      1.0      2.4       4.4 
     Corp. &                                                       
      Eliminations         0.1     0.1      0.1      0.2       0.5 
                     ----------------------------------------------
          Total            5.3     5.4      7.5     11.4      29.6 
                     ==============================================



                         Q1 00   Q2 00    Q3 00    Q4 00     2000 
                     ----------------------------------------------
As Reported                                                        
  Net sales                                                        
     Construction        191.3   208.8    154.5    153.4     708.0 
     Cranes              168.0   190.6    172.5    144.1     675.2 
     Mining               93.5    95.5     60.8     69.5     319.3 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other          114.9   109.7     99.2     91.2     415.0 
     Corp. &                                                       
      Eliminations       (14.2)  (11.1)   (11.9)   (11.6)    (48.8)
                     ----------------------------------------------
          Total          553.5   593.5    475.1    446.6   2,068.7 
                     ==============================================

  Gross margin                                                     
     Construction         34.4    42.1     30.9     24.7     132.1 
     Cranes               27.4    30.5     27.0     19.3     104.2 
     Mining               14.1    12.6      6.2     12.0      44.9 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           21.0    21.6     22.3     17.4      82.3 
     Corp. &                                                       
      Eliminations        (0.2)   (0.2)     0.3      0.2       0.1 
                     ----------------------------------------------
          Total           96.7   106.6     86.7     73.6     363.6 
                     ==============================================

  Selling, General &                                               
   Admin.                                                          
     Construction         12.5    12.4     11.4     11.7      48.0 
     Cranes               12.7    12.9     11.3     10.4      47.3 
     Mining                8.5     9.9     11.0      8.6      38.0 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            8.1     8.0      6.3      8.2      30.6 
     Corp. &                                                       
      Eliminations        (0.1)   (0.1)    (0.7)     2.3       1.4 
                     ----------------------------------------------
          Total           41.7    43.1     39.3     41.2     165.3 
                     ==============================================

  Income from                                                      
   operations                                                      
     Construction         21.9    29.7     19.5     13.0      84.1 
     Cranes               14.7    17.6     15.7      8.9      56.9 
     Mining                5.6     2.7     (4.8)     3.4       6.9 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           12.9    13.6     16.0      9.2      51.7 
     Corp. &                                                       
      Eliminations        (0.1)   (0.1)     1.0     (2.1)     (1.3)
                     ----------------------------------------------
          Total           55.0    63.5     47.4     32.4     198.3 
                     ==============================================

  Depreciation &                                                   
   amortization (1)                                                
     Construction          3.7     3.5      2.9      2.9      13.0 
     Cranes                2.8     1.8      2.5      3.3      10.4 
     Mining                1.5     1.6      1.6      1.1       5.8 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            2.3     2.3      2.2      2.0       8.8 
     Corp. &                                                       
      Eliminations         ---     ---      ---      ---       ---
                     ----------------------------------------------
          Total           10.3     9.2      9.2      9.3      38.0 
                     ==============================================


                         Q1 01   Q2 01    Q3 01    Q4 01     2001 
                     ----------------------------------------------
As Reported                                                        
  Net sales                                                        
     Construction        180.0   203.7    183.9    171.5     739.1 
     Cranes              138.4   141.2    123.0     89.9     492.5 
     Mining               61.1    30.7     91.7     82.7     266.2 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other          105.8    84.0     69.6    106.1     365.5 
     Corp. &                                                       
      Eliminations        (7.9)  (20.3)   (14.5)    (8.1)    (50.8)
                     ----------------------------------------------
          Total          477.4   439.3    453.7    442.1   1,812.5 
                     ==============================================

  Gross margin                                                     
     Construction         28.1    34.2     20.5     22.1     104.9 
     Cranes               19.1    23.1      0.6     13.3      56.1 
     Mining               11.7     7.8     14.1     10.8      44.4 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           19.2    14.6     10.4     22.3      66.5 
     Corp. &                                                       
      Eliminations         0.5     0.5     (0.1)     3.8       4.7 
                     ----------------------------------------------
          Total           78.6    80.2     45.5     72.3     276.6 
                     ==============================================

  Selling, General &                                               
   Admin.                                                          
     Construction         13.4    13.4     14.6     14.1      55.5 
     Cranes               10.2    10.2     11.9     11.5      43.8 
     Mining                8.7     8.7      5.8      6.7      29.9 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            8.3     8.9      8.9     14.4      40.5 
     Corp. &                                                       
      Eliminations           -    (0.2)     0.6      2.3       2.7 
                     ----------------------------------------------
          Total           40.6    41.0     41.8     49.0     172.4 
                     ==============================================

  Income from                                                      
   operations                                                      
     Construction         14.7    20.8      5.9      8.0      49.4 
     Cranes                8.9    12.9    (11.3)     1.8      12.3 
     Mining                3.0    (0.9)     8.3      4.1      14.5 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           10.9     5.7      1.5      7.9      26.0 
     Corp. &                                                       
      Eliminations         0.5     0.7     (0.7)     1.5       2.0 
                     ----------------------------------------------
          Total           38.0    39.2      3.7     23.3     104.2 
                     ==============================================

  Depreciation &                                                   
   amortization (1)                                                
     Construction          3.3     2.3      3.1      3.2      11.9 
     Cranes                2.2     2.4      2.2      2.2       9.0 
     Mining                1.4     1.4      1.3      1.2       5.3 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            2.2     2.3      2.0      3.3       9.8 
     Corp. &                                                       
      Eliminations         0.1     0.1      0.2      0.1       0.5 
                     ----------------------------------------------
          Total            9.2     8.5      8.8     10.0      36.5 
                     ==============================================

                                Q1 02        Q2 02     2002 YTD
                        -----------------------------------------
As Reported                                                      
  Net sales                                                      
     Construction               264.3         347.0        611.3 
     Cranes                     135.1         136.4        271.5 
     Mining                      65.3          73.2        138.5 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                 132.6         157.7        290.3 
     Corp. &                                                     
      Eliminations              (15.3)        (24.1)       (39.4)
                        -----------------------------------------
            Total               582.0         690.2      1,272.2 
                        =========================================

  Gross margin                                                   
     Construction                40.0          61.9        101.9 
     Cranes                      16.8          21.7         38.5 
     Mining                       8.1           4.2         12.3 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                  26.3          24.0         50.3 
     Corp. &                                                     
      Eliminations                0.1           0.1          0.2 
                        -----------------------------------------
            Total                91.3         111.9        203.2 
                        =========================================

  Selling, General &                                             
   Admin.                                                        
     Construction                24.5          32.8         57.3 
     Cranes                       9.5           9.4         18.9 
     Mining                       6.5           7.3         13.8 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                  17.9          21.4         39.3 
     Corp. &                                                     
      Eliminations                1.4           2.4          3.8 
                        -----------------------------------------
            Total                59.8          73.3        133.1 
                        =========================================

  Income from operations                                         
     Construction                15.5          29.1         44.6 
     Cranes                       7.3          12.3         19.6 
     Mining                       1.6          (3.1)        (1.5)
     Roadbuilding,                                               
      Utility Products                                           
        & Other                   8.4           2.6         11.0 
     Corp. &                                                     
      Eliminations               (1.3)         (2.3)        (3.6)
                        -----------------------------------------
            Total                31.5          38.6         70.1 
                        =========================================

  Depreciation &                                                 
   amortization (1)                                              
     Construction                 3.1           3.7          6.8 
     Cranes                       1.1           2.9          4.0 
     Mining                       0.3           0.3          0.6 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                   2.6           2.2          4.8 
     Corp. &                                                     
      Eliminations                0.2           0.1          0.3 
                        -----------------------------------------
            Total                 7.3           9.2         16.5 
                        =========================================

    (1) Excludes amortization of debt issuance costs.



                  Terex Corporation and Subsidiaries
                     Business Segment Information
                             (in millions)
                              (unaudited)


                         Q1 99   Q2 99    Q3 99    Q4 99(1)   1999 
                     ----------------------------------------------
Excluding Special Items
  Net sales                                                        
     Construction        102.9   112.0    144.9    147.4     507.2 
     Cranes              190.7   202.0    182.5    136.7     711.9 
     Mining              112.3   103.1    110.6    127.0     453.0 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           31.0    47.9     68.4     89.2     236.5 
     Corp. &                                                       
      Eliminations       (13.6)  (16.9)   (10.8)   (10.7)    (52.0)
                     ----------------------------------------------
          Total          423.3   448.1    495.6    489.6   1,856.6 
                     ==============================================

  Gross margin                                                     
     Construction         16.0    18.3     27.8     29.8      91.9 
     Cranes               29.6    30.5     27.0     29.3     116.4 
     Mining               19.0    18.4     20.3     17.6      75.3 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            6.6    10.0     13.7     15.5      45.8 
     Corp. &                                                       
      Eliminations        (0.3)   (0.5)    (0.3)     1.3       0.2 
                     ----------------------------------------------
          Total           70.9    76.7     88.5     93.5     329.6 
                     ==============================================

  Selling, General &                                               
   Admin.                                                          
     Construction          6.4     5.9     12.2     11.7      36.2 
     Cranes               11.4    11.1     12.0     10.9      45.4 
     Mining                9.5     9.1      9.7      9.4      37.7 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            1.9     2.1      5.0      8.1      17.1 
     Corp. &                                                       
      Eliminations         1.2     1.5     (0.2)     0.1       2.6 
                     ----------------------------------------------
          Total           30.4    29.7     38.7     40.2     139.0 
                     ==============================================

  Income from                                                      
   operations                                                      
     Construction          9.6    12.4     15.6     18.1      55.7 
     Cranes               18.2    19.4     15.0     18.4      71.0 
     Mining                9.5     9.3     10.6      8.2      37.6 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            4.7     7.9      8.7      7.4      28.7 
     Corp. &                                                       
      Eliminations        (1.5)   (2.0)    (0.1)     1.2      (2.4)
                     ----------------------------------------------
          Total           40.5    47.0     49.8     53.3     190.6 
                     ==============================================


                         Q1 00   Q2 00    Q3 00(2) Q4 00(3)   2000 
                     ----------------------------------------------
Excluding Special Items
  Net sales                                                        
     Construction        191.3   208.8    154.5    153.4     708.0 
     Cranes              168.0   190.6    172.5    144.1     675.2 
     Mining               93.5    95.5     60.8     69.5     319.3 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other          114.9   109.7     99.2     91.2     415.0 
     Corp. &                                                       
      Eliminations       (14.2)  (11.1)   (11.9)   (11.6)    (48.8)
                     ----------------------------------------------
          Total          553.5   593.5    475.1    446.6   2,068.7 
                     ==============================================

  Gross margin                                                     
     Construction         34.4    42.1     30.9     31.4     138.8 
     Cranes               27.4    30.5     27.0     19.3     104.2 
     Mining               14.1    12.6      9.4     12.0      48.1 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           21.0    21.6     22.3     17.4      82.3 
     Corp. &                                                       
      Eliminations        (0.2)   (0.2)     0.3      0.2       0.1 
                     ----------------------------------------------
          Total           96.7   106.6     89.9     80.3     373.5 
                     ==============================================

  Selling, General &                                               
   Admin.                                                          
     Construction         12.5    12.4     11.4     10.7      47.0 
     Cranes               12.7    12.9     11.3     10.4      47.3 
     Mining                8.5     9.9      9.4      8.6      36.4 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            8.1     8.0      8.1      8.2      32.4 
     Corp. &                                                       
      Eliminations        (0.1)   (0.1)    (0.7)    (0.3)     (1.2)
                     ----------------------------------------------
          Total           41.7    43.1     39.5     37.6     161.9 
                     ==============================================

  Income from                                                      
   operations                                                      
     Construction         21.9    29.7     19.5     20.7      91.8 
     Cranes               14.7    17.6     15.7      8.9      56.9 
     Mining                5.6     2.7        -      3.4      11.7 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           12.9    13.6     14.2      9.2      49.9 
     Corp. &                                                       
      Eliminations        (0.1)   (0.1)     1.0      0.5       1.3 
                     ----------------------------------------------
          Total           55.0    63.5     50.4     42.7     211.6 
                     ==============================================



                         Q1 01   Q2 01(4) Q3 01(5) Q4 01(5)   2001 
                     ----------------------------------------------
Excluding Special                                                  
 Items                                                             
  Net sales                                                        
     Construction        180.0   203.7    183.9    171.5     739.1 
     Cranes              138.4   141.2    123.0     89.9     492.5 
     Mining               61.1    42.5     91.7     82.7     278.0 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other          105.8    84.0     69.6    106.1     365.5 
     Corp. &                                                       
      Eliminations        (7.9)  (20.3)   (14.5)    (8.1)    (50.8)
                     ----------------------------------------------
          Total          477.4   451.1    453.7    442.1   1,824.3 
                     ==============================================

  Gross margin                                                     
     Construction         28.1    34.2     26.7     22.1     111.1 
     Cranes               19.1    23.1     16.5     14.1      72.8 
     Mining               11.7    11.0     14.8     10.8      48.3 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           19.2    14.6     12.4     22.7      68.9 
     Corp. &                                                       
      Eliminations         0.5     0.5     (0.1)     3.8       4.7 
                     ----------------------------------------------
          Total           78.6    83.4     70.3     73.5     305.8 
                     ==============================================

  Selling, General &                                               
   Admin.                                                          
     Construction         13.4    13.4     13.4     14.1      54.3 
     Cranes               10.2    10.2      9.2     10.7      40.3 
     Mining                8.7     8.7      5.8      6.7      29.9 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other            8.3     8.9      8.4     14.4      40.0 
     Corp. &                                                       
      Eliminations           -    (0.2)     0.6      2.3       2.7 
                     ----------------------------------------------
          Total           40.6    41.0     37.4     48.2     167.2 
                     ==============================================

  Income from                                                      
   operations                                                      
     Construction         14.7    20.8     13.3      8.0      56.8 
     Cranes                8.9    12.9      7.3      3.4      32.5 
     Mining                3.0     2.3      9.0      4.1      18.4 
     Roadbuilding,                                                 
      Utility                                                      
      Products                                                     
        & Other           10.9     5.7      4.0      8.3      28.9 
     Corp. &                                                       
      Eliminations         0.5     0.7     (0.7)     1.5       2.0 
                     ----------------------------------------------
          Total           38.0    42.4     32.9     25.3     138.6 
                     ==============================================


                              Q1 02 (6)     Q2 02 (7)    2002 YTD
                        -----------------------------------------
Excluding Special Items                                          
  Net sales                                                      
     Construction               264.3         347.0        611.3 
     Cranes                     135.1         136.4        271.5 
     Mining                      65.3          73.2        138.5 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                 132.6         157.7        290.3 
     Corp. &                                                     
      Eliminations              (15.3)        (24.1)       (39.4)
                        -----------------------------------------
            Total               582.0         690.2      1,272.2 
                        =========================================

  Gross margin                                                   
     Construction                40.0          61.9        101.9 
     Cranes                      16.8          21.7         38.5 
     Mining                       8.1           8.4         16.5 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                  27.5          32.2         59.7 
     Corp. &                                                     
      Eliminations                0.1           0.1          0.2 
                        -----------------------------------------
            Total                92.5         124.3        216.8 
                        =========================================

  Selling, General &                                             
   Admin.                                                        
     Construction                24.5          32.8         57.3 
     Cranes                       9.5           9.4         18.9 
     Mining                       6.5           7.3         13.8 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                  17.9          20.8         38.7 
     Corp. &                                                     
      Eliminations                1.4           2.4          3.8 
                        -----------------------------------------
            Total                59.8          72.7        132.5 
                        =========================================

  Income from operations                                         
     Construction                15.5          29.1         44.6 
     Cranes                       7.3          12.3         19.6 
     Mining                       1.6           1.1          2.7 
     Roadbuilding,                                               
      Utility Products                                           
        & Other                   9.6          11.4         21.0 
     Corp. &                                                     
      Eliminations               (1.3)         (2.3)        (3.6)
                        -----------------------------------------
            Total                32.7          51.6         84.3 
                        =========================================


(1) Special items in 1999 include charges related to the operations
and closure of the Milwaukee facility and headcount reductions at O&K
Germany, offset by a favorable legal settlement.

(2) Third Quarter 2000 excludes the impact of the restructuring
charges related to Terex Mining and a one-time gain related to pension
curtailment.

(3) Special items in the fourth quarter of 2000 related to the closing
of the Terex distribution facility in the United Kingdom, an
aggregates customer filing bankruptcy, and due diligence costs
associated with a large potential acquisition which did not come to
fruition.

(4) Excludes the impact related to the one-time charge for the cost
associated with the return of five trucks by a mining customer.

(5) Excludes the impact of restructuring charges related to the
consolidation of 11 facilities and other cost reduction initiatives,
and the operating loss related to businesses held for sale.

(6) Excludes the impact of additional charges related to the
restructuring mentioned in (5) above.

(7) Special items relate to the restructuring charge for the closure
of the Tulsa, Oklahoma facility, headcount reductions at Cedarapids,
and write down of certain assets within the light construction group.

CONTACT: Terex Corporation
Kevin O'Reilly, 203/222-5943


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