JLG Industries, Inc. Commences Cash Tender Offers and Consent Solicitations for Its Outstanding 8 1/4% Senior Notes Due 2008 and

  
    
  
  
    
      JLG Industries, Inc. (NYSE:JLG) announced today that it has commenced 
      offers to purchase for cash any and all of its outstanding 8 1/4% Senior 
      Notes due 2008 (the “2008 Notes”) 
      in an aggregate principal amount of $89,545,000 and 8 3/8% Senior 
      Subordinated Notes due 2012 (the “2012 Notes” 
      and, together with the 2008 Notes, the “Notes”) 
      in an aggregate principal amount of $113,750,000. In connection with the 
      offers, holders of the Notes are being solicited to provide consents to 
      certain amendments to the indentures for the Notes that would eliminate 
      most of the restrictive covenants and events of default contained in the 
      indentures.
    
    
      JLG is making the offers as required by the Agreement and Plan of Merger 
      dated October 15, 2006 (the “Merger Agreement”), 
      by and among JLG, Oshkosh Truck Corporation and Steel Acquisition Corp.
    
    
      The consent solicitations will expire at 5:00 p.m., New York City time, 
      on November 20, 2006 (the “Consent Deadline”), 
      and the offers will expire at midnight, New York City time, on December 
      5, 2006, in each case unless extended or earlier terminated by JLG.
    
    
      As described in more detail in the Offer to Purchase and Consent 
      Solicitation Statement dated November 6, 2006, a copy of which will be 
      distributed to noteholders promptly, the total consideration for each 
      $1,000 principal amount of Notes validly tendered and accepted for 
      purchase by JLG will be calculated based upon a fixed spread of 50 basis 
      points over the bid side yield on the 4.875% U.S. Treasury Note due 
      April 30, 2008, in the case of the 2008 Notes, and the 3.5% U.S. 
      Treasury Note due May 31, 2007, in the case of the 2012 Notes. The 
      foregoing total consideration for the Notes includes a consent payment 
      equal to $30 per $1,000 principal amount of Notes tendered. Holders must 
      validly tender their Notes on or before the Consent Deadline in order to 
      be eligible to receive the total consideration, which includes the 
      consent payment. Holders who validly tender their Notes after the 
      Consent Deadline and before the expiration of the offers will only be 
      eligible to receive an amount equal to the total consideration minus the 
      consent payment. Additionally, holders whose Notes are purchased 
      pursuant to the offers will receive any accrued but unpaid interest for 
      the period up to but not including the payment date for the Notes.
    
    
      Completion of the offers and consent solicitations is subject to the 
      satisfaction of certain conditions, including, but not limited to, with 
      respect to each series of Notes, receipt of valid tenders and consents 
      from at least a majority in principal amount of such series of 
      outstanding Notes not owned by JLG or any of its affiliates and the 
      consummation of the merger of Steel Acquisition Corp. with and into JLG 
      pursuant to the Merger Agreement. Consummation of the merger is not 
      conditioned upon completion of the offers or the consent solicitations. 
      The offers and consent solicitations may be amended, extended or, under 
      certain conditions, terminated. However, pursuant to the Merger 
      Agreement, JLG cannot waive any condition to the offers without the 
      prior written consent of Oshkosh. A more comprehensive description of 
      the offers and the consent solicitations can be found in the Offer to 
      Purchase and Consent Solicitation Statement and the related Letter of 
      Transmittal dated November 6, 2006.
    
    
      The information agent for the offers and consent solicitations is 
      Innisfree M&A Incorporated. The depositary for the offers is The Bank of 
      New York. The dealer managers for the offers and consent solicitation 
      agents for the consent solicitations are J.P. Morgan Securities Inc. 
      ([phone], call collect) and Banc of America Securities LLC ((704) 
      388-9217, call collect).
    
    
      The offer to purchase and consent solicitation statement, letter of 
      transmittal and consent and related documents will be distributed to 
      noteholders promptly. Noteholders with questions or who would like 
      additional copies of the offer documents may call the information agent, 
      Innisfree M&A Incorporated, toll-free at [phone]. (Banks and 
      brokers may call collect at [phone].)
    
    
      JLG Industries, Inc. is the world’s leading 
      producer of access equipment (aerial work platforms and telehandlers). 
      JLG’s diverse product portfolio encompasses 
      leading brands such as JLG® aerial work 
      platforms; JLG, SkyTrak®, Lull® 
      and Gradall® telehandlers; and an array of 
      complementary accessories that increase the versatility and efficiency 
      of these products for end users. JLG markets its products and services 
      through a multi-channel approach that includes a highly trained sales 
      force and utilizes a broad range of marketing techniques, integrated 
      supply programs and a network of distributors in the industrial, 
      commercial, institutional and construction markets. In addition, JLG 
      offers world-class after-sales service and support for its customers. JLG’s 
      manufacturing facilities are located in the United States, Belgium, and 
      France, with sales and service operations on six continents.
    
    
      This press release is for informational purposes only and does not 
      constitute an offer to buy or the solicitation of an offer to sell JLG’s 
      8 1/4% senior notes due 2008 or its 8 3/8% senior subordinated notes due 
      2012. The offers and the consent solicitations are being made only 
      pursuant to the offer to purchase and consent solicitation statement, 
      letter of transmittal and consent and related materials that JLG will be 
      distributing to noteholders promptly. Noteholders and investors should 
      read carefully the offer to purchase and consent solicitation statement, 
      letter of transmittal and consent and related materials because they 
      contain important information, including the various terms of and 
      conditions to, the offers and the consent solicitations. None of 
      JLG, Oshkosh, the dealer managers, the information agent or the 
      depositary makes any recommendation in connection with the offers or the 
      consent solicitations.
    
  
JLG Industries, Inc. (NYSE:JLG) announced today that it has
commenced offers to purchase for cash any and all of its outstanding 8
1/4% Senior Notes due 2008 (the "2008 Notes") in an aggregate
principal amount of $89,545,000 and 8 3/8% Senior Subordinated Notes
due 2012 (the "2012 Notes" and, together with the 2008 Notes, the
"Notes") in an aggregate principal amount of $113,750,000. In
connection with the offers, holders of the Notes are being solicited
to provide consents to certain amendments to the indentures for the
Notes that would eliminate most of the restrictive covenants and
events of default contained in the indentures.

   JLG is making the offers as required by the Agreement and Plan of
Merger dated October 15, 2006 (the "Merger Agreement"), by and among
JLG, Oshkosh Truck Corporation and Steel Acquisition Corp.

   The consent solicitations will expire at 5:00 p.m., New York City
time, on November 20, 2006 (the "Consent Deadline"), and the offers
will expire at midnight, New York City time, on December 5, 2006, in
each case unless extended or earlier terminated by JLG.

   As described in more detail in the Offer to Purchase and Consent
Solicitation Statement dated November 6, 2006, a copy of which will be
distributed to noteholders promptly, the total consideration for each
$1,000 principal amount of Notes validly tendered and accepted for
purchase by JLG will be calculated based upon a fixed spread of 50
basis points over the bid side yield on the 4.875% U.S. Treasury Note
due April 30, 2008, in the case of the 2008 Notes, and the 3.5% U.S.
Treasury Note due May 31, 2007, in the case of the 2012 Notes. The
foregoing total consideration for the Notes includes a consent payment
equal to $30 per $1,000 principal amount of Notes tendered. Holders
must validly tender their Notes on or before the Consent Deadline in
order to be eligible to receive the total consideration, which
includes the consent payment. Holders who validly tender their Notes
after the Consent Deadline and before the expiration of the offers
will only be eligible to receive an amount equal to the total
consideration minus the consent payment. Additionally, holders whose
Notes are purchased pursuant to the offers will receive any accrued
but unpaid interest for the period up to but not including the payment
date for the Notes.

   Completion of the offers and consent solicitations is subject to
the satisfaction of certain conditions, including, but not limited to,
with respect to each series of Notes, receipt of valid tenders and
consents from at least a majority in principal amount of such series
of outstanding Notes not owned by JLG or any of its affiliates and the
consummation of the merger of Steel Acquisition Corp. with and into
JLG pursuant to the Merger Agreement. Consummation of the merger is
not conditioned upon completion of the offers or the consent
solicitations. The offers and consent solicitations may be amended,
extended or, under certain conditions, terminated. However, pursuant
to the Merger Agreement, JLG cannot waive any condition to the offers
without the prior written consent of Oshkosh. A more comprehensive
description of the offers and the consent solicitations can be found
in the Offer to Purchase and Consent Solicitation Statement and the
related Letter of Transmittal dated November 6, 2006.

   The information agent for the offers and consent solicitations is
Innisfree M&A Incorporated. The depositary for the offers is The Bank
of New York. The dealer managers for the offers and consent
solicitation agents for the consent solicitations are J.P. Morgan
Securities Inc. ([phone], call collect) and Banc of America
Securities LLC ([phone], call collect).

   The offer to purchase and consent solicitation statement, letter
of transmittal and consent and related documents will be distributed
to noteholders promptly. Noteholders with questions or who would like
additional copies of the offer documents may call the information
agent, Innisfree M&A Incorporated, toll-free at [phone]. (Banks
and brokers may call collect at [phone].)

   JLG Industries, Inc. is the world's leading producer of access
equipment (aerial work platforms and telehandlers). JLG's diverse
product portfolio encompasses leading brands such as JLG(R) aerial
work platforms; JLG, SkyTrak(R), Lull(R) and Gradall(R) telehandlers;
and an array of complementary accessories that increase the
versatility and efficiency of these products for end users. JLG
markets its products and services through a multi-channel approach
that includes a highly trained sales force and utilizes a broad range
of marketing techniques, integrated supply programs and a network of
distributors in the industrial, commercial, institutional and
construction markets. In addition, JLG offers world-class after-sales
service and support for its customers. JLG's manufacturing facilities
are located in the United States, Belgium, and France, with sales and
service operations on six continents.

   This press release is for informational purposes only and does not
constitute an offer to buy or the solicitation of an offer to sell
JLG's 8 1/4% senior notes due 2008 or its 8 3/8% senior subordinated
notes due 2012. The offers and the consent solicitations are being
made only pursuant to the offer to purchase and consent solicitation
statement, letter of transmittal and consent and related materials
that JLG will be distributing to noteholders promptly. Noteholders and
investors should read carefully the offer to purchase and consent
solicitation statement, letter of transmittal and consent and related
materials because they contain important information, including the
various terms of and conditions to, the offers and the consent
solicitations. None of JLG, Oshkosh, the dealer managers, the
information agent or the depositary makes any recommendation in
connection with the offers or the consent solicitations.