Exhibit 99.1

                                                                 PRESS RELEASE
[JLG logo]                                               FOR IMMEDIATE RELEASE

JLG INDUSTRIES, INC.
1 JLG Drive
McConnellsburg, PA 17233-9533
Telephone (717) 485-5161                                CONTACT:  JUNA ROWLAND
Fax (717) 485-6417                   DIRECTOR - CORPORATE & INVESTOR RELATIONS
www.jlg.com                                         (240) 313-1816, IR@JLG.COM


                       JLG ANNOUNCES FINANCIAL RESTATEMENT
         PROVIDES SECOND QUARTER GUIDANCE AND POSTPONES CONFERENCE CALL

         MCCONNELLSBURG, PA, FEBRUARY 18, 2004 - JLG Industries, Inc. (NYSE:
JLG) today announced that it will be restating its audited financial statements
for the fiscal year ended July 31, 2003 and may be restating its unaudited
financial statements for the first quarter ended October 31, 2003. The Company
has determined that one transaction with $8.7 million in net revenues, $1.8
million in net profit and $.04 per diluted share for the fiscal year and fourth
quarter ended July 31, 2003 was recognized prematurely. The restatement will
result in a reduction of revenue and profit in the fourth quarter of fiscal 2003
and an equal or greater increase in revenue and profit recognized over the first
three quarters of the current fiscal year. Reported results for the fiscal year
2003 were revenues of $759.8 million, net income of $14.2 million, and earnings
per diluted share of $.33.

         The transaction, with a single customer, was originally recorded in
July 2003. The Company re-examined the transaction terms and subsequent history
and concluded that the transaction was incorrectly reported as a sale, rather
than a consignment sale, which under generally accepted accounting principles,
allows recognition of the revenues only upon final sale of the equipment by the
consignee. As of February 2004, all of the equipment has now been sold, the
majority in the fiscal 2004 second quarter.

         Management notified both the Audit Committee of the Board of Directors
and Ernst & Young LLP, the Company's independent auditors, of the transaction.
Ernst & Young has advised management and the Audit Committee that the improper
accounting of this transaction reflects a material weakness in internal
controls. The Company has commenced an internal review to determine the
circumstances of this transaction, to rule out or identify any similar
transactions within the current year and preceding three years and evaluate and
recommend appropriate remedial action. The Company's outside counsel, Covington
& Burling, is assisting in the review together with PricewaterhouseCoopers LLP,
which serves as the Company's internal auditors.

         Pending completion of the review, the Company is delaying announcing
earnings for the second quarter ended January 31, 2004. Fiscal second quarter
revenue is expected to be approximately $237.3 million, an increase of $86
million or 57 percent from the prior year period. Sales from the OmniQuip
acquisition contributed $49.8 million to the increase. Earnings per diluted
share are expected to be in the range of $.05 to $.06.

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JLG Industries, Inc. - page 2


         The Company filed its Annual Report on Form 10-K containing audited
financial statements for fiscal 2003 on October 6, 2003, and its Quarterly
Report on Form 10-Q containing unaudited statements for the first quarter of
fiscal 2004 on November 26, 2003. It expects to re-file applicable reports with
restated financial statements as soon as practicable. Accordingly, investors
should rely on such previously filed reports only in the context of the
information presented in this release.

         JLG Industries, Inc. is the world's leading producer of access
equipment and highway-speed telescopic hydraulic excavators. The Company's
diverse product portfolio encompasses leading brands such as JLG(R) aerial work
platforms, JLG(R), SkyTrak(R), Lull(R) and Gradall(R) telehandlers; Gradall
excavators, and an array of complementary accessories that increase the
versatility and efficiency of these products for end users. JLG markets its
products and services through a multi-channel net work that includes a highly
trained and skilled direct sales force, direct marketing, the Internet,
integrated supply programs and a network of distributors. In addition, JLG
offers world-class after-sales service and support for its customers in the
industrial, commercial, institutional and construction markets. JLG's
manufacturing facilities are located in the United States and Belgium, with
sales and service locations on six continents.

         This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are not guarantees of future performance, and involve a number of
risks and uncertainties that could cause actual results to differ materially
from those indicated by the forward-looking statements. Important factors that
could cause actual results to differ materially from those suggested by the
forward-looking statements include, but are not limited to, the following: (i)
general economic and market conditions, including political and economic
uncertainty in areas of the world where we do business; (ii) varying and
seasonal levels of demand for our products and services; (iii) limitations on
customer access to credit for purchases; (iv) credit risks from our financing of
customer purchases; and (v) costs of raw materials and energy, as well as other
risks as detailed in the Company's SEC reports, including the report on Form
10-Q for the quarter ended October 31, 2003.

                    For more information, visit www.jlg.com.

        NOTE: Information contained on our website is not incorporated by
                       reference into this press release.