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Oshkosh Defense LCTV Showcases Advances in Light Vehicle Performance and Protection at AUSA Winter

OSHKOSH, Wis. (Feb. 23, 2011) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will have its Light Combat Tactical Vehicle (LCTV) at AUSA Winter 2011 being held in Fort Lauderdale, Fla. The Oshkosh LCTV successfully completed the 43rd annual Tecate SCORE Baja 1000 off-road course in November. Oshkosh developed the LCTV with the latest advanced technologies to demonstrate the future of light tactical vehicles – including improved mobility, exportable power capabilities and optimal crew protection.

“Oshkosh conducted extensive independent testing of the LCTV and its technologies, but nothing compared to putting this vehicle through the paces and seeing it finish the 1,061-mile Baja race,” said Ken Juergens, vice president and general manager of Joint Programs for Oshkosh Defense. “The race allowed us to push these technologies in a very grueling, uncontrolled environment. The LCTV was the first military truck and the first diesel-electric vehicle to finish the Baja race. It was a thrilling venture for us, and we came away with new data to further refine our advanced technologies to support those who serve.”

Among the technologies used on the LCTV is the next-generation of the Oshkosh-patented TAK-4® independent suspension system. Building on the proven existing TAK-4 system, it provides 20 inches of independent wheel travel, resulting in increased mobility and improved ride quality across harsh or rocky terrain. The suspension is adjustable to reduce vehicle height for easier transportability. The LCTV also uses the Oshkosh ProPulse® diesel-electric powertrain, which can deliver 70 kW of available military-grade power and up to 20 percent improved fuel economy.

“Integrating technology, such as our ProPulse powertrain, has the potential to be a force multiplier for military fleets,” Juergens said. “Exportable vehicle power offers Warfighters a reliable energy source in even the most remote environments to support command centers, equipment and weapon systems. It also would minimize reliance on fuel convoys by improving vehicle fuel economy up to 20 percent and reducing the need for trailer-mounted generators.”

Oshkosh designed the LCTV’s crew capsule to be optimized for weight and survivability, utilizing the latest technologies and techniques. Similar to the combat-proven Oshkosh MRAP All-Terrain Vehicle (M-ATV), the LCTV’s capsule uses a bolt-together design that allows for in-theater vehicle upgrades and continuous enhancements without having to weld or conduct major fabrication.

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 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.

®, ™ 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 impact on revenues and margins of the decrease in M-ATV production rates; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness 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 expected level and timing of U.S. Department of Defense (DoD) procurement of products and services and funding thereof, especially in an environment when the U.S. government is operating under a Continuing Resolution budget action; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; 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; the potential for commodity and other raw material costs to rise sharply, particularly in a future economic recovery; 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 delays arising from supplier quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; risks related to work stoppages and other labor matters; the potential for disruptions or cost overruns in the Company’s global enterprise system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; and risks related to disruptions in the Company’s distribution networks. 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.