22 January 2004

FOR IMMEDIATE RELEASE NEWS RELEASE

CLARK ACHIEVES 4TH QUARTER NET INCOME

LEXINGTON, KY - January 22, 2004 - CLARK Material Handling Company announced today that the Company achieved net income for the fourth quarter of 2003, the second consecutive quarter that it has reported net income.

Brian Butler, CLARK's President and CEO, said of the results, "our fourth quarter performance is a direct result of the performance of our Parts operations in Kentucky, our production facilities in Korea, and an increase in sales of CLARK forklift trucks and aftermarket parts during the fourth quarter."

Butler went on to state that CLARK's performance in 2003 clearly demonstrates that the company has successfully repositioned its worldwide operations and "CLARK is dynamically positioned for profitable growth in 2004 and even better profitable growth if the economy improves in 2004."

An industry leader since it invented the first material handling truck in 1917, and celebrated its 100th year in 2003, CLARK has built more than one million forklift trucks. CLARK supplies a full line of electric and internal combustion forklifts, narrow aisle forklifts, electric pallet jacks, stackers and electric tuggers. Additionally, CLARK offers order pickers and pallet jacks. CLARK products are distributed through a network of over 550 dealer locations worldwide.

For additional information on CLARK, its products or to locate a dealer, visit us on the World Wide Web at www.clarkmhc.com or call toll free 866-252-5275.