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Oshkosh Defense Showcases Light Military Vehicle Technologies to Address the Evolution of the Modern Battlefield

Technologies Include Next-Generation TAK-4® Independent Suspension System

OSHKOSH, Wis. (Oct. 25, 2010) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), today unveiled a vehicle to demonstrate the future of light tactical wheeled vehicles at the AUSA 2010 Annual Meeting & Exposition.

This vehicle, called the Light Combat Tactical Vehicle (LCTV), features the company’s latest advancements in off-road mobility, performance and protection for the U.S. military – including the next-generation of TAK-4® independent suspension systems. The new system provides increased off-road mobility, improved vehicle maneuverability and smoother ride quality.

“The LCTV technologies represent a forward-thinking, customer-guided approach to research and development, and more than 80 years of experience selling vehicles to the military,” said Ken Juergens, Oshkosh Defense vice president and general manager, Joint Programs. “Our new TAK-4 system will further expand the vehicles’ off-road capabilities to make military routes less predictable and Warfighters less susceptible to roadside attacks. Combined with our ProPulse diesel-electric powertrain and modular capsule design, the LCTV provides a glimpse into the survivability and mobility potential of the U.S. military’s light vehicle fleets.”

The ProPulse® technology delivers up to 20 percent improved fuel economy and has 70 kW of available military-grade power. The bolt-together capsule design – proven on the Oshkosh MRAP All-Terrain Vehicle (M-ATV) and legacy MRAPs – allows for vehicle upgrades and continuous enhancements to the capsule without having to weld or conduct major fabrication.

The next-generation TAK-4 suspension system delivers 20 inches of independent wheel travel. It also uses a larger shock absorber to deliver an even smoother ride quality at increased speeds and is adjustable to reduce vehicle height for better transportability. Like the demonstration vehicle’s other technologies, it is scalable for use on light, medium and heavy fleets. Oshkosh’s current TAK-4 independent suspension system has been proven in combat operations in Iraq and Afghanistan, where it has been successfully integrated on multiple vehicle platforms to include the M-ATV, Medium Tactical Vehicle Replacement (MTVR), and other legacy MRAP vehicles.

Oshkosh’s ProPulse technology has been demonstrated on the Oshkosh Heavy Expanded Mobility Tactical Truck (HEMTT) A3 and the Oshkosh MTVR, which are undergoing testing with the Army and Marine Corps respectively. “The modular nature of the Oshkosh ProPulse system allows for easy integration and flexibility for the future, such as the inclusion of fuel cells for power generation,” Juergens added.

The demonstration vehicle’s capsule is optimized for weight and survivability, utilizing the latest and most proven technologies and techniques available to the Warfighter. Oshkosh has a history of delivering advanced survivability solutions. Its (HEMTT) A4 was the first vehicle delivered to the U.S. military with an integrated A-kit/B-kit armor configuration.

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 presentation, 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 projected decrease in M-ATV production rates; the cost of any warranty campaigns related to the Company’s products; the Company’s ability to start production under the FMTV contract at targeted margins; 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 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. DoD procurement of products and services and funding thereof; 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 associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply, particularly in a future economic recovery; risks related to costs and charges as a result of facilities consolidation and alignment; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; risks related to disruptions in the Company’s distribution networks; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. The Company discla