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Oshkosh Defense to Feature HMMWV Survivability, Mobility Enhancements at Marine West 2011

HMMWV Equipped With Oshkosh TAK-4 Suspension Currently Undergoing USMC Evaluation

OSHKOSH, Wis. (Jan. 26, 2011) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will display its enhancements for the High Mobility Multipurpose Wheeled Vehicle (HMMWV) at Marine West 2011 in response to new U.S. Marine Corps requirements that call for the vehicle to receive add-on armor. The Marine Corps is currently testing and evaluating Oshkosh’s upgraded HMMWV, which uses the Oshkosh TAK-4® independent suspension system to improve the vehicle’s mobility and restore cargo capacity.

“The U.S. Marine Corps needs light vehicles capable of offering the utmost protection for our Marines, and that is what Oshkosh is delivering with these improvements,” said John Bryant, vice president and general manager of Marine Corps Programs for Oshkosh Defense. “Our signature TAK-4 system increases the vehicle’s ground clearance to 17 inches, improving resistance to blasts and allowing for the addition of underbody armor for improved survivability. It also gives Marines improved mobility and ride quality on missions across treacherous terrain.”

Integrating the TAK-4 system on the HMMWV gives the vehicle a 70 percent off-road profile capability and 14 inches of independent wheel travel. In addition to increased mobility, this improves ride quality by reducing suspension vibration and harshness. Use of the Oshkosh TAK-4 system also restores the vehicle’s payload capacity to 2,500 pounds when the crew is embarked with all add-on armor installed; increases the vehicle’s maximum speed by 40 percent and improves the vehicle’s braking by 46 percent.

Also on display at Marine West will be Oshkosh’s Light Concept Tactical Vehicle (LCTV), which successfully tackled the 43rd Annual Tecate SCORE Baja 1000 off-road race in Mexico in November. The LCTV is equipped with a next-generation TAK-4 independent suspension system, giving the vehicle 20 inches of independent wheel travel, and uses the Oshkosh ProPulse® diesel-electric powertrain.

The ProPulse technology delivers as much as 20 percent improved fuel economy and has 70 kW of available military-grade power. The LCTV’s bolt-together capsule design allows for vehicle upgrades and continuous enhancements without having to weld or conduct major fabrication.

Oshkosh will be exhibiting at booth #333 at the show, which is taking place Jan. 26-27 at the Camp Pendleton Marine Corps Base in Oceanside, Calif.

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, including the Form 8-K. 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.