Oshkosh Truck Corporation, a leading manufacturer of specialty vehicles and vehicle bodies, announced that it has completed the acquisition of JLG Industries, Inc. (JLG) for $28 per share in an all cash transaction valued at approximately $3.2 billion.

With the addition of JLG's forecasted revenues, Oshkosh Truck now expects to surpass $6 billion in net sales for fiscal 2007.

The Company today affirmed its previous estimates that the Oshkosh stand-alone earnings per share (EPS), without giving effect to the JLG acquisition, is expected to be $3.05 to $3.15 and that the JLG acquisition will be modestly accretive to its stand-alone EPS for the fiscal year ended September 30, 2007. Due to the timing of the JLG acquisition closing during the seasonally slow holiday period and the estimated impact of certain non-cash purchase accounting adjustments, the Company estimates that the JLG acquisition will be approximately $0.15 dilutive to EPS for the first quarter of fiscal 2007. Accordingly, the Company now estimates that EPS for its first quarter of fiscal 2007, including the impact of the JLG acquisition, will be approximately $0.35 to $0.40 per share. The Company expects to provide its sales and EPS estimates for fiscal 2007, including the impact of the JLG acquisition, during the first week of February 2007, when the Company plans to report its earnings for the first quarter of fiscal 2007.

Oshkosh expects to integrate JLG by applying its successful method of cross-functional collaboration. They have eight operational teams, with members from both Oshkosh and JLG, leading the integration initiative and focused on specific near- and long-term objectives. Planning is well underway and we are pleased with initial progress. In addition, the Company is enlisting external consulting resources in select areas to spur velocity and provide expertise in effective integration.

Sergyi Way
12.12.2006

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