NEWS RELEASE
CONTACT:
Karen L. Howard
Vice President, Treasurer and Interim Chief Financial Officer
Columbus McKinnon Corporation
Phone: 716-689-5550
karen.howard@cmworks.com

COLUMBUS MCKINNON REPORTS 10% SALES GROWTH FOR
SECOND QUARTER FISCAL 2006

o SECOND QUARTER GROSS PROFIT MARGIN INCREASED 170 BASIS POINTS FROM
PRIOR YEAR TO 26.1%
o NET DEBT REDUCED $14.8 MILLION IN QUARTER
o OPERATING INCOME FOR THE QUARTER UP 34.1%; NET INCOME RISES 25.8%
o NET INCOME AFFECTED BY $3.5 MILLION ($0.23 PER SHARE) IN PREVIOUSLY
ANNOUNCED COSTS ASSOCIATED WITH RECENT DEBT REFINANCING

AMHERST, N.Y, October 25, 2005-- Columbus McKinnon Corporation (Nasdaq: CMCO), a
leading designer, manufacturer and marketer of material handling products, today
announced net sales of $134.7 million for the second quarter fiscal 2006, which
ended October 2, 2005. This quarter's sales represent a 9.8% increase over sales
of $122.7 million in the second quarter of fiscal 2005. Net income for the
second quarter of fiscal 2006 was $3.3 million, or $0.21 per share, a $0.7
million or 25.8% increase from $2.6 million, or $0.18 per share, in the prior
fiscal year second quarter. Second quarter fiscal 2006 results include the
negative impact of the previously announced charges of $3.5 million associated
with the Company's recent subordinated debt refinancing. Excluding these
charges, net income for the fiscal 2006 second quarter would have been $6.8
million or $0.44 per diluted share, respective increases of 160.7% and 144.4%
over reported U.S. GAAP net income and diluted net income per share in the
year-ago quarter.

SECOND QUARTER REVIEW
- ---------------------

Demand from Columbus McKinnon's end user markets was driven by continued
strength in the U.S. and international industrial economies as well as a
continuation of the Company's successful global growth strategy. Volume
accounted for approximately 5 percentage points of the increase in sales while
price changes accounted for 4 percentage points, and currency translation for
about 1 percentage point.

Timothy Tevens, President and Chief Executive Officer of Columbus McKinnon,
commented, "We continue to realize the operating leverage from higher sales
enhanced by stronger margins resulting from our lean manufacturing improvements
and product and facility rationalization initiatives. In the fiscal 2006 second
quarter, operating leverage contributed $0.28 to income from operations for each
incremental sales dollar over the fiscal 2005 second quarter. We are especially
pleased to achieve a 25.8% increase in net income even with the $3.5 million
charge for debt refinancing, and that excluding this charge, net income would
have increased 160.7%. Further, our recent successful bond offering and the
refinancing of our subordinated debt effectively position us to reduce our more
restrictive and costly debt, and also increase the level of pre-payable debt
that can be reduced in the future with cash generated from operations. These are
important steps in our continuing initiative to further improve Columbus
McKinnon's financial flexibility by strategically restructuring our balance
sheet to address our high cost debt, improve our debt-to-equity ratio, and
financially support our global growth initiatives."

The Company's effective tax rate for the fiscal 2006 second quarter was 36.1%,
compared with 29.2% in the fiscal 2005 second quarter. The higher effective
income tax rate in fiscal 2006 reflects the debt refinancing charges of $3.5
million, which reduced U.S. taxable income in the fiscal 2006 second quarter
resulting in no associated tax benefit being recorded in the quarter. The
Company has approximately $93 million of fully reserved U.S. federal net
operating loss carry forwards available to offset future U.S. taxable income,
allowing more of its U.S.-based margin expansion to be directly reflected in net
income.

Debt, net of cash at October 2, 2005, was $238.2 million, a $23.3 million
reduction from $261.5 million at March 31, 2005, and a $46.3 million reduction
from $284.5 million a year ago. Included in subordinated debt at the end of the
second quarter this fiscal year was $25.6 million of the refinanced notes that
were settled on October 14, 2005, effectively reducing subordinated debt by that
amount in the fiscal 2006 third quarter. The percentage of debt to total
capitalization improved to 75.0% or 180 basis points compared with 76.8% at
March 31, 2005, and improved 590 basis points compared with 80.9% at the end of
last year's second quarter.

Net cash provided by operations was $24.2 million year-to-date through the
fiscal 2006 second quarter, compared with $2.8 million in cash used by
operations for the prior year period. The improvement in operating cash flow was
driven by earnings growth and improved working capital management. Working
capital as a percent of the latest twelve month's revenues through the fiscal
2006 second quarter improved to 18.1%, compared with 19.4% and 23.1% at the end
of the first quarter of fiscal 2006 and last year's second quarter,
respectively.

PRODUCTS SEGMENT
- ----------------

Products segment sales for the second quarter of fiscal 2006 represented 89.6%
of consolidated net sales, increasing 10.7% from last year to $120.7 million.
Gross margin for this segment was 27.1%, a 160 basis point improvement from
25.5% in last year's second quarter. Income from operations, as a percent of
sales, was 10.5% for this period, up from 8.7% in the fiscal 2005 second
quarter.

Backlog stood at $40.2 million at the end of the quarter, down from $42.8
million and $47.2 million at the end of the first quarter of fiscal 2006 and
last year's second quarter, respectively. The changes in backlog reflect normal
business fluctuations. The time to convert Products segment backlog to sales can
range from a few days to a few weeks, and backlog for this segment on average
represents four to five weeks of shipments.

SOLUTIONS SEGMENT
- -----------------

Net sales for the Solutions segment were $14.0 million in the fiscal 2006 second
quarter, up $0.3 million, or 2.2%, from sales of $13.7 million in the same
period last year. Gross margin was 17.8%, a 220 basis point improvement from
15.6% last year. Income from operations as a percent of sales was 4.1% for this
period compared with 3.4% in last year's second quarter.

Backlog for the Solutions segment at October 2, 2005 was $17.4 million,
virtually even with $17.3 million at the end of the fiscal 2006 first quarter
and slightly down from backlog of $20.6 million at the end of the fiscal 2005
second quarter. The change in backlog reflects the timing of projects awarded
for this segment. The average cycle time for backlog to convert to sales for the
Solutions segment can range from one to six months.

SIX-MONTH REVIEW
- ----------------

Net sales for the first half of fiscal 2006 were $275.6 million, up 12.8%, or
$31.2 million, compared with the first half of fiscal 2005. Gross profit of
$71.7 million was 16.8% higher for this fiscal year's first six months,
resulting in a 90 basis point improvement in gross profit margin to 26.0%. The
improved margin was the result of continued operating leverage. Selling, general
and administrative expenses as a percent of sales improved to 15.8%, compared
with 16.3% in the prior year. Net income for the first half of fiscal 2006 was
$10.6 million, up $4.6 million, or 77.7%. On a per share basis, net income was

$0.70 ($0.93 excluding the $0.23 charge for subordinated debt refinancing) for
the first half of fiscal 2006, a 70.7% increase from $0.41 for the same period
in fiscal 2005.

Capital expenditures for the first half of fiscal 2006 were $3.8 million, up
from $1.9 million in the prior year period. Columbus McKinnon expects capital
spending for fiscal 2006 to be in the range of $6.0 to $7.0 million. Higher
capital expenditures in the first half of fiscal 2006 included a concentration
of new product development and productivity improvement spending.

OUTLOOK
- -------

Mr. Tevens noted, "Sales trends in our markets continue to be favorable and
while the pace of revenue growth is moderating, we continue to expect future
benefits in profitability from operating leverage and our productivity and debt
reduction initiatives. We have seen improvements in our working capital
utilization and will continue to focus on further opportunities. We are making
strides in reducing our debt and improving our financial position and
flexibility to support our planned growth. Our strategic objectives remain to:
o Increase our domestic organic sales growth by introducing new and
cross-branded products to maximize market coverage,
o Increase our global sales volumes and share by expanding our global
presence to pursue growth opportunities in emerging industrial markets
and leverage our multi-brands in other markets,
o Improve our operations to increase our profitability through lean
manufacturing and facility rationalization, and
o Pay down debt to reduce interest expense and enhance our strategic
flexibility."

ABOUT COLUMBUS MCKINNON
- -----------------------

Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of
material handling products, systems and services, which efficiently and
ergonomically move, lift, position or secure material. Key products include
hoists, cranes, chain and forged attachments. The Company is focused on
commercial and industrial applications that require the safety and quality
provided by its superior design and engineering know-how. Comprehensive
information on Columbus McKinnon is available on its web site at
HTTP://WWW.CMWORKS.COM.

TELECONFERENCE/WEBCAST
- ----------------------

A teleconference and webcast have been scheduled for October 25, 2005 at 10:00
AM Eastern Time at which the management of Columbus McKinnon will discuss the
Company's financial results and strategy. Interested parties in the United
States and Canada can participate in the teleconference by dialing
1-888-459-1579, and asking to be placed in the "Columbus McKinnon Quarterly
Conference Call" and providing the password "Columbus McKinnon" and identifying
conference leader, "Tim Tevens" when asked. The toll number for parties outside
the United States and Canada is 1-210-234-7695.

The webcast will be accessible at Columbus McKinnon's web site:
http://www.cmworks.com.

An audio recording of the call will be available two hours after its completion
and until December 23, 2005 by dialing 1-800-570-8791. Alternatively, you may
access an archive of the call until December 23, 2005 on Columbus McKinnon's web
site at: http://www.cmworks.com/invrel/presentation.asp.

SAFE HARBOR STATEMENT
- ---------------------

THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH STATEMENTS INCLUDE,
BUT ARE NOT LIMITED TO, STATEMENTS CONCERNING FUTURE REVENUE AND EARNINGS,
INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT COULD
CAUSE THE ACTUAL RESULTS OF THE COMPANY TO DIFFER MATERIALLY FROM THE RESULTS
EXPRESSED OR IMPLIED BY SUCH STATEMENTS, INCLUDING GENERAL ECONOMIC AND BUSINESS
CONDITIONS, CONDITIONS AFFECTING THE INDUSTRIES SERVED BY THE COMPANY AND ITS
SUBSIDIARIES, CONDITIONS AFFECTING THE COMPANY'S CUSTOMERS AND SUPPLIERS,
COMPETITOR RESPONSES TO THE COMPANY'S PRODUCTS AND SERVICES, THE OVERALL MARKET
ACCEPTANCE OF SUCH PRODUCTS AND SERVICES, THE LIKELIHOOD THAT THE COMPANY CAN
UTILIZE ITS NOLS, THE EFFECT OF OPERATING LEVERAGE, THE PACE OF BOOKINGS
RELATIVE TO SHIPMENTS, AND OTHER FACTORS DISCLOSED IN THE COMPANY'S PERIODIC
REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. THE COMPANY ASSUMES
NO OBLIGATION TO UPDATE THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS
RELEASE.

COLUMBUS MCKINNON CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS

(IN THOUSANDS, EXCEPT
PER SHARE AND PERCENTAGE DATA)

THREE MONTHS ENDED
------------------
10/2/05 10/3/04 CHANGE
---------------------- --------

Net sales ...................................... $ 134,712 $ 122,711 9.8%
Cost of products sold .......................... 99,554 92,768 7.3%
----------------------
Gross profit ................................... 35,158 29,943 17.4%
Gross profit margin ......................... 26.1% 24.4%
Selling expense ................................ 13,080 12,270 6.6%
General and administrative expense ............. 8,539 7,517 13.6%
Restructuring charges .......................... 211 184 14.7%
Amortization ................................... 61 76 -19.7%
----------------------
Income from operations ......................... 13,267 9,896 34.1%
----------------------
Interest and debt expense ...................... 6,633 7,141 -7.1%
Interest and other expense (income) ............ 1,864 (607) -407.1%
----------------------
Income from cont. ops. before income tax expense 4,770 3,362 41.9%
Income tax expense ............................. 1,721 982 75.3%
----------------------
Income from cont. ops .......................... 3,049 2,380 28.1%
Income from disc. ops .......................... 214 214
----------------------
Net income ..................................... $ 3,263 $ 2,594 25.8%
======================

Average basic shares outstanding . 14,845 14,585 1.8%
Basic net income per share:
Continuing operations ....................... $ 0.21 $ 0.17 17.6%
Discontinued operations ..................... 0.01 0.01
----------------------
Net income .................................. $ 0.22 $ 0.18 16.7%
======================

Average diluted shares outstanding 15,431 14,800 4.3%
Diluted net income per share:
Continuing operations ....................... $ 0.20 $ 0.17 17.6%
Discontinued operations ..................... 0.01 0.01
----------------------
Net income .................................. $ 0.21 $ 0.18 16.7%
======================

COLUMBUS MCKINNON CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS

(IN THOUSANDS, EXCEPT
PER SHARE AND PERCENTAGE DATA)

SIX MONTHS ENDED
----------------
10/2/05 10/3/04 CHANGE
---------------------- --------

Net sales ...................................... $ 275,589 $ 244,369 12.8%
Cost of products sold .......................... 203,888 182,975 11.4%
----------------------
Gross profit ................................... 71,701 61,394 16.8%
Gross profit margin ......................... 26.0% 25.1%
Selling expense ................................ 26,738 24,970 7.1%
General and administrative expense ............. 16,714 15,002 11.4%
Restructuring charges .......................... 237 217 9.2%
Amortization ................................... 123 153 -19.6%
----------------------
Income from operations ......................... 27,889 21,052 32.5%
----------------------
Interest and debt expense ...................... 13,349 14,189 -5.9%
Interest and other expense (income) ............ 1,075 (589) -282.5%
----------------------
Income from cont. ops. before income tax expense 13,465 7,452 80.7%
Income tax expense ............................. 3,308 1,710 93.5%
----------------------
Income from cont. ops .......................... 10,157 5,742 76.9%
Income from disc. ops .......................... 428 214
----------------------
Net income ..................................... $ 10,585 $ 5,956 77.7%
======================

Average basic shares outstanding ............. 14,757 14,585 1.2%
Basic net income per share:
Continuing operations ..................... $ 0.69 $ 0.40 72.5%
Discontinued operations ................... 0.03 0.01
----------------------
Net income ................................ $ 0.72 $ 0.41 75.6%
======================

Average diluted shares outstanding ........... 15,227 14,698 3.6%
Diluted net income per share:
Continuing operations ..................... $ 0.67 $ 0.40 67.5%
Discontinued operations ................... 0.03 0.01
----------------------
Net income ................................ $ 0.70 $ 0.41 70.7%
======================

COLUMBUS MCKINNON CORPORATION
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)

10/2/05 3/31/05
----------------------
ASSETS
Current assets:

Cash and cash equivalents .............................. $ 42,535 $ 9,479
Trade accounts receivable .............................. 86,026 88,974
Unbilled revenues ...................................... 10,862 8,848
Inventories ............................................ 77,637 77,626
Prepaid expenses ....................................... 14,317 14,198
----------------------
Total current assets ........................................ 231,377 199,125
Net property, plant, and equipment .......................... 54,532 57,237
Goodwill and other intangibles, net ......................... 186,732 187,285
Marketable securities ....................................... 25,165 24,615
Deferred taxes on income .................................... 4,327 6,122
Other assets ................................................ 6,635 6,487
----------------------
Total assets ................................................ $ 508,768 $ 480,871
======================

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Notes payable to banks ................................. $ 3,318 $ 4,839
Trade accounts payable ................................. 37,833 33,688
Accrued liabilities .................................... 51,955 51,962
Restructuring reserve .................................. 114 144
Current portion of long-term debt ...................... 195 5,819
----------------------
Total current liabilities ................................... 93,415 96,452
Senior debt, less current portion ........................... 115,600 115,735
Subordinated debt ........................................... 161,600 144,548
Other non-current liabilities ............................... 44,751 42,369
----------------------
Total liabilities ........................................... 415,366 399,104
----------------------
Shareholders' equity:
Common stock ........................................... 152 149
Additional paid-in capital ............................. 106,795 104,078
Retained earnings (accumulated deficit) ................ 1,941 (8,644)
ESOP debt guarantee .................................... (4,260) (4,554)
Unearned restricted stock .............................. (29) (6)
Accumulated other comprehensive loss ................... (11,197) (9,256)
----------------------
Total shareholders' equity .................................. 93,402 81,767
----------------------
Total liabilities and shareholders' equity .................. $ 508,768 $ 480,871
======================

COLUMBUS MCKINNON CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOW

SIX MONTHS ENDED
----------------
10/2/05 10/3/04
-----------------------
(IN THOUSANDS)
OPERATING ACTIVITIES:

Income from continuing operations .......................................... $ 10,157 $ 5,742
Adjustments to reconcile income from continuing operations to net
cash provided by (used in) operating activities of continuing operations:
Depreciation and amortization ......................................... 4,651 4,652
Deferred income taxes ................................................. 1,795 1,275
Gain on sale of real estate/investments ............................... (1,547) --
Loss on early retirement of 2008 bonds ................................ 2,407 --
Amortization/write-off of deferred financing costs .................... 1,563 655
Changes in operating assets and liabilities:
Trade accounts receivable ........................................ 2,381 578
Unbilled revenues and excess billings ............................ (2,798) (2,175)
Inventories ...................................................... (301) (5,257)
Prepaid expenses ................................................. (97) 1,342
Other assets ..................................................... (202) (135)
Trade accounts payable ........................................... 4,666 (4,718)
Accrued and non-current liabilities .............................. 1,487 (4,781)
---------------------
Net cash provided by (used in) operating activities of continuing operations 24,162 (2,822)
---------------------
INVESTING ACTIVITIES:
Sale of marketable securities, net ......................................... 475 1,991
Capital expenditures ....................................................... (3,761) (1,948)
Proceeds from sale of businesses and fixed assets .......................... 2,091 --
Net assets held for sale ................................................... -- 300
---------------------
Net cash (used in) provided by investing activities of continuing operations (1,195) 343
---------------------
FINANCING ACTIVITIES:
Proceeds from stock options exercised ...................................... 2,729 --
Net payments under revolving line-of-credit agreements ..................... (1,110) 8,036
Repayment of debt .......................................................... (126,953) (7,173)
Payment of deferred financing costs ........................................ (1,566) (11)
Proceeds from issuance of long-term debt ................................... 136,000 --
Other ...................................................................... 294 286
---------------------
Net cash provided by financing activities of continuing operations ......... 9,394 1,138
EFFECT OF EXCHANGE RATE CHANGES ON CASH .................................... 267 (91)
---------------------
Net cash provided by (used in) continuing operations ....................... 32,628 (1,432)
NET CASH PROVIDED BY DISCONTINUED OPERATIONS ............................... 428 214
---------------------
Net change in cash and cash equivalents .................................... 33,056 (1,218)
Cash and cash equivalents at beginning of period ........................... 9,479 11,101
---------------------
Cash and cash equivalents at end of period ................................. $ 42,535 $ 9,883
=====================

COLUMBUS MCKINNON CORPORATION

BUSINESS SEGMENT DATA

PRODUCTS SOLUTIONS CONSOLIDATED
------------------------------------------
(IN THOUSANDS, EXCEPT FOR PERCENTAGES)

Quarter ended 10/2/05
Net sales ............ $120,674 $ 14,038 $134,712
Gross profit ......... 32,665 2,493 35,158
Margin ........ 27.1% 17.8% 26.1%
Income from operations 12,692 575 13,267
Margin ........ 10.5% 4.1% 9.8%

Quarter ended 10/3/04
Net sales ............ $108,981 $ 13,730 $122,711
Gross profit ......... 27,805 2,138 29,943
Margin ........ 25.5% 15.6% 24.4%
Income from operations 9,435 461 9,896
Margin ........ 8.7% 3.4% 8.1%

Six-months ended 10/2/05
Net sales ............ $244,555 $ 31,034 $275,589
Gross profit ......... 66,885 4,816 71,701
Margin ........ 27.3% 15.5% 26.0%
Income from operations 26,820 1,069 27,889
Margin ........ 11.0% 3.4% 10.1%

Six-months ended 10/3/04
Net sales ............ $217,538 $ 26,831 $244,369
Gross profit ......... 57,050 4,344 61,394
Margin ........ 26.2% 16.2% 25.1%
Income from operations 20,259 793 21,052
Margin ........ 9.3% 3.0% 8.6%

COLUMBUS MCKINNON CORPORATION

ADDITIONAL DATA

OCTOBER 2, 2005 OCTOBER 3, 2004
--------------- ---------------
Backlog (in thousands)
Products segment .................$ 40,235 $ 47,194
Solutions segment ................. 17,402 20,647

Trade accounts receivable -
Days sales outstanding ............ 58.1 62.6

Inventory turns per year (based on
cost of products sold) ............ 5.1x 5.0x
Days per turn ..................... 71.6 73.0

Trade accounts payable -
Days payables outstanding ......... 34.6 25.0

Working capital as a % of total sales . 18.1% 23.1%
Debt to total capitalization percentage 75.0% 80.9%

SHIPPING DAYS BY QUARTER
------------------------

Q1 Q2 Q3 Q4
-- -- -- --
FY06 65 63 58 65
FY05 65 63 58 63