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 COMPLETES TENDER OFFER FOR CLUB CAR SOUTH BEND, INDIANA, March 9, 1995 -- Clark Equipment Company (NYSE: CKL) announced today the completion of its tender offer for Club Car, Inc., (NASDAQ: CLBC). Ninety-nine percent of the outstanding stock of Club Car, representing 9,492,837 shares, was tendered and accepted for payment. The tender offer expired at midnight on March 8, 1995. Clark intends to promptly merge its wholly-owned acquisition subsidiary into Club Car. In such a merger, shareholders of Club Car who did not tender their shares will be entitled to receive $25.00 per share, the same consideration paid in the offer. Club Car, Inc., designs, manufactures and markets electric and gasoline golf cars for recreational use and similar off-road utility vehicles for golf, commercial and industrial use. Clark Equipment Company designs, manufactures and markets compact construction machinery, asphalt paving equipment, and axles and transmissions for off-highway equipment. -4-