News Release

April 24, 2006

CraneCREDIT Popularity Grows in EMEA

CraneCREDIT, the financing arm of Manitowoc Crane Group, used Intermat 2006 to highlight the extensive funding programs now available in the EMEA region. Jean-François Amet, credit management and financing director for EMEA, and a number of members from the CraneCREDIT team were on hand to discuss the various financing options now available direct from the manufacturer.

Last year CraneCREDIT established itself in the region with financing partnerships in France, Germany, Italy, Russia, Spain, and the UK. The partnerships include Natexis Banques Populaires for France and Spain; VR Leasing for Germany; Centro Leasing for Italy; Hansa Leasing for Russia; and Bank of Scotland for the UK. In 2006, CraneCREDIT will expand to serve customers in the Benelux region, Africa, and the Middle East.

Jean-François Amet, said he was expecting Intermat to generate continued interest in CraneCREDIT.

“This year will be only our first full year of operation, but we’re already seeing high levels of interest from the market,” he said. “CraneCREDIT is proving hugely popular in North America with over $250 million [€212 million] now recorded in booked and funded purchases. With lifting work on the increase throughout the EMEA region, we’re expecting CraneCREDIT to grow even stronger in the coming years.”

CraneCREDIT can tailor individual finance packages for any piece of equipment (or accessory) from Manitowoc Crane Group, new or used. It can offer attractive residual values with packages requiring monthly, quarterly, semi-annual, or even annual repayments depending on a customer’s requirements. The experts at CraneCREDIT can also offer advice on local tax implications and recommend the best financial package to maximize tax efficiency. There is an inventory financing package for dealers, as well, which is helping Manitowoc Crane Group strengthen its position in EMEA.