Terex Reports Preliminary Q1 Results

May 12, 2005 — Terex Corp., Westport, Conn., recently announced that it expects total revenues for the first quarter of 2005 (ending March 31) to be in the range of $1.40 to $1.45 billion — an increase of more than 35 percent over the same quarter this time last year. Additionally, Terex anticipates fully diluted earnings per share, before special items, for the quarter ended March 31, 2005 to be in the range of $0.50 to $0.55.

Net debt (total debt less cash) increased approximately $100 million in the first quarter of 2005, which is slightly better than Terex's previous guidance of $125 million. The increase in the outstanding debt balances reflects an investment in working capital in anticipation of the seasonally strong second quarter selling activities. For more information, visit www.terex.com.