EXHIBIT (99) Clark Equipment Company 100 North Michigan St. P.O. Box 7008 South Bend, Indiana 46634 NEWS RELEASE Contact: Joe Fimbianti Release Date: Immediate 219-239-0176 CLARK EQUIPMENT EXPECTS STRONGER-THAN-ANTICIPATED THIRD QUARTER EARNINGS SOUTH BEND, INDIANA, September 23, 1994 -- Clark Equipment Company (NYSE: CKL) today announced it expects stronger-than-anticipated third quarter earnings due to significantly improved productivity, pricing and demand in key domestic and European markets. The announcement was made by Leo J. McKernan, Clark Chairman, President and Chief Executive Officer. Noting that the cyclical upturn in major Clark markets is offsetting traditional seasonal effects, Mr. McKernan pointed out that Clark third quarter earnings also include the first full quarter of results from its recent acquisition, Blaw-Knox Construction Equipment Company. Clark Equipment Company designs, manufactures and markets skid-steer loaders, construction machinery, asphalt paving equipment, and axles and transmissions for off-highway equipment. -4-