Collins Industries Shareholders Approve Steel Partners Merger Transaction

Share Name	Share Symbol	Market	Type
(MM)	NASDAQ:CNSI	NASDAQ	Ordinary Share

(MM) (NASDAQ:CNSI)
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HUTCHINSON, Kan., Oct. 30 /PRNewswire-FirstCall/ -- Collins Industries, Inc. (OTC:CNSI) announced today that its shareholders have approved the merger agreement with Steel Partners II, L.P., a private investment partnership based in New York. Steel Partners is purchasing Collins in affiliation with American Industrial Partners, an operationally focused private equity firm. The merger agreement was approved by holders of 75.3% of the outstanding shares of Collins common stock at the special meeting of shareholders held earlier today. As previously announced, under the terms of the merger agreement, Collins shareholders will receive $12.50 in cash for each share of Collins common stock they hold. The total value of the transaction, including assumed debt and expenses, is approximately $110 million. With the required regulatory and shareholder approvals now secured, the transaction is expected to be completed as early as October 31, 2006. About Collins Industries, Inc. Collins Industries, Inc. is a leading manufacturer of ambulances (including medical attack vehicles, rescue vehicles and fire emergency vehicles), North America's largest producer of Type "A" small school buses, the nation's second largest manufacturer of terminal trucks and a leader in the road construction and industrial sweeper markets. Since 1971, the Company has grown to approximately 1000 employees in six plants comprising over one million combined square feet of manufacturing space. The Company sells its products throughout the United States and abroad. Forward-Looking Statements This press release contains historical and forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company believes the assumptions underlying these forward looking statements are reasonable; however, any of the assumptions could be inaccurate, and therefore, actual results may differ materially from those projected in the forward-looking statements due to certain risks and uncertainties, including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the outcome of any legal proceedings that may be instituted against Collins and others following announcement of the proposal or the merger agreement; the inability to complete the merger due to the failure to satisfy other conditions to the completion of the merger; and other risks as indicated in the Company's prior filings with the Securities and Exchange Commission. The Company undertakes no obligations to publicly release any revisions to any forward-looking statements contained herein to reflect events or circumstances occurring after the date released or to reflect the occurrence of unanticipated events. Additional Information In connection with the proposed merger, Collins has prepared a proxy statement to be mailed to its shareholders. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE MERGER AND THE PARTIES TO THE MERGER. Investors and security holders may obtain a free copy of the proxy statement from the Investor Relations section of the Company's website at http://www.collinsind.com/ . DATASOURCE: Collins Industries, Inc. CONTACT: Cletus Glasener, Chief Financial Officer and Vice President of Finance, of Collins Industries, Inc., +1-620-663-5551, or Kim Marvin, Partner, of American Industrial Partners, +1-212-627-2360 Ext. 209 Web site: http://www.collinsind.com/

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CNSI (MM)