NEWS

Oshkosh Defense, U.S. Military Complete 3,500 M-ATV Underbody Kit Installations In-Theater in Seven Months

OSHKOSH, Wis. (Feb. 22, 2012) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), and the U.S. military have reached a significant milestone in the ongoing battle against improvised explosive devices (IED) in Afghanistan, having recently completed the in-theater installation of the 3,500th Oshkosh MRAP All-Terrain Vehicle (M-ATV) Underbody Improvement Kit (UIK) in less than seven months to give Warfighters new levels of protection against the threats.

In response to larger IEDs, Oshkosh worked closely with the MRAP Joint Program Office (JPO) to design and deliver the first M-ATV UIK in less than 30 days. The kits increase the M-ATV’s protection level beyond the initial requirements and are part of Oshkosh’s comprehensive strategy to help keep Warfighters safer on the battlefield without limiting mission-critical off-road mobility.

“Oshkosh Defense uses a modular approach to vehicle design, allowing the M-ATV and several other fielded platforms to accept a wide range of upgrades in-theater as threats evolve,” said John Bryant, vice president and general manager of Joint and Marine Corps Programs for Oshkosh Defense. “We design UIKs and test them thoroughly to meet the government’s stringent survivability requirements. Our Field Service Representatives then go wherever needed, including in-theater, to install the kits in rapid fashion.”

In addition to the M-ATV, Oshkosh produces UIKs to enhance protection for other vehicle platforms. The U.S. Army to date has ordered more than 400 UIKs, also known as C-Kit armor, for the Oshkosh Heavy Expanded Mobility Tactical Truck (HEMTT) A4.

Oshkosh is also developing and conducting independent testing of UIK enhancements for its wide range of light, medium and heavy tactical wheeled vehicle platforms, including the Army’s Family of Medium Tactical Vehicles (FMTV).

Urgent In-Theater Installation

The MRAP JPO established 10 UIK installation sites in Afghanistan, while Oshkosh designed the lean process flow and specified, procured, packaged and delivered the tooling required to support the installations. Working together, the MRAP JPO’s universal workforce and Oshkosh installed the first 3,500 UIKs in less than seven months. Oshkosh to date has received orders for more than 8,000 M-ATV UIKs and continues to install the kits in-theater.

The Oshkosh UIKs take advantage of the M-ATV’s flexible design and industry-leading suspension system to accept additional armor. Similar to the M-ATV’s bolt-on armor, UIKs can be installed in-theater without the need for welding or major fabrication.

U.S. military technicians in Afghanistan have also installed 400 UIKs for a total of more than 3,900 M-ATVs with greater protection levels in-theater to date. Additionally, Oshkosh delivered more than 500 new M-ATVs with factory-installed UIKs.

About Oshkosh Defense

Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit www.oshkoshdefense.com.

About Oshkosh Corporation

Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, visit www.oshkoshcorporation.com.

®, TM All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Forward-Looking Statements

This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the expected level and timing of the DoD’s procurement of products and services and funding thereof, including the impact of the DoD’s allocation of certain tires which will restrict and delay certain FHTV sales; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic uncertainty, lower municipal spending and tight credit markets; the Company’s ability to produce vehicles under the FMTV contract at targeted margins; the duration of the ongoing global economic weakness, which could lead to additional impairment charges related to many of the Company’s intangible assets and/or a slower recovery in the Company’s cyclical businesses than equity market expectations; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; the consequences of financial leverage, which could limit the Company’s ability to pursue various opportunities; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to pass on to customers price increases to offset higher input costs; risks related to costs and charges as a result of facilities consolidation and alignment, including that anticipated cost savings may not be achieved; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; the cost of any warranty campaigns related to the Company’s products; risks related to production or shipment delays arising from quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; the potential for increased costs relating to compliance with changes in laws and regulations; risks related to disruptions in the Company’s distribution networks; risks related to actions of activist shareholders; and the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.

NEWS CONTACTS

For further information
please contact:
Alexandra Hittle
Sr. Manager, Global Brand Management
Oshkosh Defense
920.966.5978

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