THE MANITOWOC COMPANY, INC.

NEWS For Immediate Release


                    MANITOWOC COMPANY DIRECTORS
                    APPROVE 3-FOR-2 STOCK SPLIT


MANITOWOC, Wisconsin, June 14, 1996   ---   Directors of The Manitowoc
Company, Inc. (MTW), have approved a three-for-two stock split of the
company's common shares in the form of a 50 percent stock dividend.

The company will distribute the stock dividend in the form of
additional shares to shareholders of record on June 25, 1996.  The
company will arrange for mailing of these certificates beginning July
2, 1996.

Under the stock split, one new share of company common stock will be
issued for every two shares owned on the record date.  The company
intends to pay cash in lieu of fractional shares that would otherwise
result from the split.

The company's common stock purchase rights under its Rights Agreement,
dated as of September 5, 1986, as amended, will also be appropriately
adjusted to reflect the stock split.

The three-for-two split will increase the number of outstanding
Manitowoc common shares from 7.7 million to 11.5 million.  The
company's common stock authorization previously approved by
shareholders is 35 million shares.

It is expected that the dividend rate on the new shares will be
adjusted to reflect the increased number of shares except for a
possible minor adjustment for rounding purposes.  The most recent
quarterly dividend, paid earlier this month, was at a pre-split rate
of 25 cents per share.  This would indicate a post-split dividend of
about 17 cents per share.  Directors are next scheduled to consider
dividend payout at their August meeting.

The company said the stock split reflected solid operating results,
recent stock price performance, and was intended to improve trading
liquidity over time.

The Manitowoc Company, Inc. is a leading manufacturer of ice-cube
machines, ice-cube dispensers, and commercial refrigeration equipment
for the foodservice industry; a leading producer of lattice-boom
cranes, boom trucks, and related products for the construction
industry; and also specializes in ship-repair work for vessels
operating on the Great Lakes.

Company Contact:

Philip D. Keener
Treasurer
414-683-8133