EXHIBIT 17

                              GIDDINGS & LEWIS 

          FOR IMMEDIATE RELEASE

          FOR INFORMATION:



                                                      
          Douglas E. Barnett       Patricia B. Meinecke     Mike Pascale/Rhonda Barnat
          Giddings & Lewis, Inc.   Giddings & Lewis, Inc.   Abernathy MacGregor
          Vice President and       Director of Com-         (212) 371-5999
            Controller               munications
          (414) 929-4374           (414) 929-4212


          NEWS RELEASE

          GIDDINGS & LEWIS CONTINUES TO REVIEW STRATEGIC ALTERNATIVES

          FOND DU LAC, WI, MAY 27, 1997 -- GIDDINGS & LEWIS, INC.
          (NASDAQ:  GIDL) Giddings & Lewis sent the following
          letter to Harnischfeger today.  The text is as follows:

          May 27, 1997

          Mr. Jeffery T. Grade
          Chairman and Chief Executive Officer
          Harnischfeger Industries, Inc.
          3600 South Lake Drive
          St. Francis, WI 53235-3716

          Dear Mr. Grade:

          The Board of Directors of Giddings & Lewis is
          productively engaged in the ongoing evaluation of all
          strategic alternatives for the Company.  Moreover, your
          concern that this process is adversely affecting the
          value of Giddings & Lewis is misplaced.  Our business is
          good, and we expect to report favorable results for the
          second quarter.

          Given the importance of this matter, we believe that a
          deliberate review of our alternatives is in the best
          interests of our shareholders, customers and employees.

          Sincerely,

          /s/ Marvin L. Isles
          Chairman and Chief Executive Officer


          Headquartered in Fond du Lac, Wisconsin, Giddings & Lewis
          is the largest supplier of industrial automation products
          and machine tools in North America, and among the largest
          in the world.  The company serves customers worldwide
          with products and services to improve manufacturing
          productivity.

          To receive Giddings & Lewis's latest news at no charge
          via fax, simply call Company News On Call, 1-800-758-
          5804, ext. 119821.  Internet address: 
          http://www.giddings.com