1 May 2003

FOR IMMEDIATE RELEASE NEWS RELEASE

CLARK MATERIAL HANDLING COMPANY ANNOUNCES TWO KEY APPOINTMENTS

LEXINGTON, KY - May 1, 2003 - CLARK Material Handling Company announced today that CLARK's President & COO, Brian C. Butler has been appointed to the position of CEO by Chairman, S.H. Baik. In addition, current CEO, Kevin Reardon has been appointed to the position of Vice Chairman of Forklift Division of Young An.

Mr. Baik said, " I am very confident in Brian Butler's leadership and his ability to manage CLARK'S future. I believe under Mr. Butler's direction, Clark Material Handling Co. will continue to grow the CLARK brand name and our dealers confidence in CLARK will be restored".

In appointing Mr. Reardon Mr. Baik said, "we have significant plans for growth worldwide and the CLARK name is recognized the world over. I have asked Mr. Reardon to work directly with me on strategic issues as an advisory that include manufacturing / sales strategies and new business opportunities.

Chairman Baik said "I am very pleased with my acquisition of CLARK and I am very anxious to meet all of the dealers. I am hopeful that with CLARK's reorganization complete and my personal and financial commitment to CLARK in place all of the dealers will support Mr. Butler and myself as we enhance the CLARK name worldwide".

The Young An Hat Co., Ltd. was established in 1959 by CEO and Chairman Sung Hak Baik. Young An is the largest hat manufacturer in the world. Other business holdings include specialty truck manufacturing, multiple bus manufacturing businesses, farm equipment and an automobile and hotel business. Young An has more than 6,000 employees worldwide, including more than 1,000 in the Americas, and estimated sales worldwide for 2003 of $1 billion.

An industry leader since it invented the first material handling truck in 1917, CLARK has built more than one million forklifts during its 85-year history. CLARK produces 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, to locate a dealer, or to learn more about becoming a CLARK dealer, visit us on the World Wide Web at www.clarkmhc.com or call toll free 866-252-5275.