Manitou Group — Capital/Financing Update 2009

Apr 17, 2009

GeW

Gehl Company 143 Water Street P.O. Box 179 West Bend, WI 53095-0179 USA

INSTRUCTION

Tel: 262/334-9461 Fax: 262/338-7517 http://www.gehl.com

Contact: Serge Bosche, Chief Financial Officer 262-334-9461

News Release

GEHL COMPANY REACHES FORBEARANCE AGREEMENT WITH LENDERS AND ENTERS INTO DISCUSSIONS CONCERNING AN AMENDED FACILITY

WEST BEND, WI, April 16, 2009 - Gehl Company's principal source of liquidity is a revolving credit agreement entered into in October 2006 with a group of U.S. bank lenders with approximately \$117 million outstanding as of March 31, 2009. As part of its ongoing discussions with its U.S. bank lenders, on April 16, 2009, the Company entered into a Forbearance Agreement with the lender group. The Forbearance Agreement rescinds and withdraws the notice of debt repayment delivered on March 31, 2009, allows the Company access to credit under the revolving credit agreement and provides a 75-day time period to complete the negotiation of a further amendment to the credit agreement, subject to customary terms and conditions. The Company has repaid a portion of the outstanding borrowings to its lenders using cash generated from operations and anticipates making additional debt repayments in 2009 using cash generated from operations. The Company also anticipates entering into a long-term secured credit facility within the extension time period to replace the existing revolving credit agreement.

About Gehl Company

Gehl Company is a manufacturer and worldwide distributor of compact equipment used worldwide in construction and agricultural markets. Founded in 1859, the Company is headquartered in West Bend, Wisconsin. In October 2008, Gehl Company became a subsidiary of the Manitou Group. The Company markets its products under the Gehl ® and Mustang ® brand names. Mustang product information is available on the Mustang Manufacturing website (www.mustangmfg.com). CE Attachments, Inc. information is available at www.ceattach.com. Gehl Company information is available at www.gehl.com or contact: Gehl Company, 143 Water Street, West Bend, WI 53095 (telephone: 262-334-9461).

This press release contains forward-looking statements. These forward-looking statements are not guarantees of future results and are subject to certain risks, uncertainties. assumptions and other factors, some of which are beyond the Company's control. These statements are based on the Company's current expectations and beliefs. Actual results could differ materially from the results implied by these statements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.