Contact Information:

Terex Cranes Global Marketing

Press & Public Relations

E-mail: info.cranes@terex.com

FRANK BARDONARO PROMOTED TO NEWLy CREATED POSITION OF

VICE PRESIDENT & MANAGING DIRECTOR GLOBAL SALES,

TEREX CRANES

Zweibruecken, 18th October 2011 –Terex Cranes is pleased to announce the promotion of Frank Bardonaro to the newly created position of Vice President & Managing Director Global Sales, Terex Cranes.

Mr. Bardonaro will assume full commercial responsibility for the company’s complete range of mobile cranes, working in partnership with local distributors and Terex sales organizations worldwide. Mr. Bardonaro will be relocating to Europe in the near future where the position will be based.

Dan Slater, who has served as a General Manager of Terex Cranes North America Operations, will assume the new role of General Manager of Terex Mobile Cranes North America.

Since joining the company in 2010 as Vice President & Managing Director, Terex Cranes North America, Mr. Bardonaro has significantly contributed to a very positive growth story for Terex Cranes in the North American market.

“Frank has already achieved much for our company during his first year with Terex. His impressive understanding of the cranes industry makes him the right person for this new position that will be focused on providing global, world-class customer service,” explains Kevin Bradley, President Terex Cranes. “Together with our team, I congratulate him on his new role and wish him every success.”

“I am looking forward to working with all Terex mobile cranes distributors to provide our customers with the best offering and support in the industry,” says Mr. Bardonaro.

Prior to joining Terex, Mr. Bardonaro spent 25 years in all aspects of the crane industry, most recently as President and CEO at one of the 10 largest crane rental companies in North America, and as General Manager for North Americas’ largest crane rental and lifting services company. He is currently on the Board of Directors of SC&RA (the Specialized Carriers & Rigging Association), an international trade association of more than 1,300 members from 43 nations.

About Terex

Terex Corporation is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, and Terex Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining, and utility industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information on Terex can be found at www.terex.com.