NEWS RELEASE

Yale Materials Handling's Veracitor™ VX Revolutionizes Lift Truck Industry

Leading Lift Truck Manufacturer Launches New Product Line at ProMat 2005

GREENVILLE, NC, January 10, 2004 - Yale Materials Handling Corporation, a leading lift truck manufacturer, unveiled a revolutionary line of lift trucks and new manufacturing process to the industry at ProMat 2005 in Chicago. The Yale Veracitor™ VX line of lift trucks, and the equipment and facility used to manufacture the product line, offer customers increased productivity, customization for individual customer application needs, and improved ergonomics designed with the operator in mind.

"Yale was the first company to market with a lift truck back in 1923, and we have continued that tradition of innovation and excellence ever since. Today, we introduce the Veracitor VX, a line of lift trucks that will change and improve how our customers do business," said Don Chance, President of Yale Materials Handling Corporation.
Yale spent five years engineering and developing the new Veracitor VX line of trucks designed to meet customer's needs today and in anticipation of their needs tomorrow, said Chance.

In the late 1990s, Yale executives and engineers committed to the process of inventing a lift truck that offers increased customer productivity, modular manufacturing for easy customization to each customer's application, and solid-state parts to minimize downtime and streamline scheduled maintenance. Yale's Berea, Ky., facility was redesigned with new equipment and technology to produce the new product line. Within this new manufacturing process, customer requested features and special equipment are incorporated into the truck as it is manufactured, to create a final product that meets customer needs better and is produced for the right application. This is a key advance in the industry, reducing the need for post-production modifications, and increasing the number of satisfied customers getting a truck built for their application (as opposed to modified to meet needs).

The first Yale lift truck produced with the new manufacturing process is the Veracitor GC-VX, a lift truck available with three engine selections consisting of the GM 2.4 L, Mazda 2.2L and 2.0L, four Yale transmissions, plus a variety of ergonomic features. There are three models within this 4,000 to 7,000 pound capacity line - Yale's Veracitor Productivity truck, Yale's Veracitor Value truck, and Yale's Veracitor VX truck.

"The Veracitor VX combines innovative design, comprehensive testing, advanced components and superior manufacturing to create a truck that is true to our customers' needs, and true to our promise of productivity," said Jon Levine, Vice President, Counterbalanced Sales, Yale Materials Handling Corporation. "The Veracitor combines the luxury feel that operators appreciate, with greater productivity required by their supervisors, and unique customizability and low cost of operation demanded by senior executives."

To learn more about the Veracitor VX and Yale's new manufacturing process, visit Yale booth 2032 at ProMat or www.veracitorvx.com.

Yale Materials Handling Corporation markets a full line of products and services, including electric, gas, LP-gas and diesel powered lift trucks; narrow aisle, very narrow aisle and motorized hand trucks. Yale offers comprehensive Fleet Management services, as well as Yale service, parts, financing and training. Yale trucks are manufactured in an ISO 9001:2000 registered facility and range in capacity from 2,000 to 36,000 pounds. For more information, or to find the Yale lift truck dealer nearest you, call 1-800-233-YALE or visit www.yale.com.