Oshkosh Corporation Appoints John J. Hamre to Board of Directors

OSHKOSH, Wis.--(BUSINESS WIRE)--Oshkosh Corporation (NYSE: OSK) announced today that John J. Hamre, Ph.D., has been elected to the company’s Board of Directors.

“We’re pleased to welcome John to our Board. We expect that his substantial international, political and economic background will enhance the direction our Board provides for the corporation and our shareholders”

Dr. Hamre serves as president and chief executive officer for CSIS, the Center for Strategic & International Studies, a bipartisan, nonprofit organization headquartered in Washington, D.C., that provides strategic insights and policy solutions to decision makers in government, international institutions, the private sector and civil society. He has been with the organization since 2000. Prior to joining CSIS, Dr. Hamre served as the 26^th Deputy Secretary of Defense from 1997 until 2000. From 1993-1997, he served as under secretary of defense (comptroller). In 2007, Secretary of Defense Robert Gates appointed Dr. Hamre to serve as chairman of the Defense Policy Board.

“We are very excited to have John join our Board. His talent and years of experience will be a great benefit as our company continues to grow,” stated Michael W. Grebe, presiding director and chairman of the Board’s Governance Committee.

“We’re pleased to welcome John to our Board. We expect that his substantial international, political and economic background will enhance the direction our Board provides for the corporation and our shareholders,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer.

Before working in the Department of Defense, Dr. Hamre worked for 10 years as a professional staff member of the Senate Armed Services Committee. He also served in the Congressional Budget Office from 1978-1984.

Dr. Hamre received his Ph.D., with distinction from the School of Advanced International studies at Johns Hopkins University in Washington, D.C. He received his. B.A. from Augustana College, South Dakota, and studied as a Rockefeller fellow at the Harvard Divinity School.

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 Corp. 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^®. The Oshkosh brands are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshcorporation.com.

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 consequences of financial leverage associated with the JLG acquisition, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; risks related to the required increase in the rate of production for the M-ATV and FMTV contracts, and the amount, if any, of additional orders for M-ATVs and/or FMTVs that the Company may receive; the outcome of the formal protests of the FMTV award to the Company: the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof; risks related to reductions in government expenditures and the uncertainty of government contracts; 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 in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; risks related to the collectibility of receivables during a recession, particularly for those businesses with exposure to construction markets; 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. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any duty, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.