GEHL [graphic omitted]
Gehl Company Tel: 262/334-9461
143 Water Street Fax: 262/334-6603
P.O. Box 179 http://www.gehl.com
West Bend, WI 53095-0179
USA
Contact:
Michael J. Mulcahy
Vice President, Secretary and General Counsel
262/334-9461
News Release
FOR IMMEDIATE RELEASE
SHAREHOLDER DISMISSES LAWSUIT AGAINST GEHL COMPANY
AND ITS BOARD OF DIRECTORS
WEST BEND, WI, May 14, 2001 - Gehl Company (Nasdaq: GEHL) today announced that a
shareholder lawsuit against the Company and its Board of Directors resulting
from the Board's response to a December 2000 highly conditional purported offer
to acquire the Company has been voluntarily dismissed without prejudice by the
plaintiff. The lawsuit had been filed in a Washington County, Wisconsin court by
Jim Speckbrock on behalf of himself and purportedly on behalf of all others
similarly situated.
"We are pleased that the plaintiff has voluntarily elected to withdraw this
lawsuit," said William D. Gehl, Chairman, President and CEO. "We can now focus
our attention exclusively on operating the business and completing a thorough
review of strategic alternatives to maximize value for all shareholders."
About Gehl Company
Gehl Company is a leading manufacturer of equipment used worldwide in
construction and agricultural markets. Founded in 1859, Gehl is headquartered in
West Bend, WI, with manufacturing facilities in West Bend, WI; Lebanon, PA;
Madison and Yankton, SD; and Owatonna, MN. The Company markets its products
under the Gehl(R) and Mustang(R) brand names. Mustang product information is
available at www.mustangmfg.com. Gehl Company information is available at
www.gehl.com.
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