Altec Announces Acquisition of Lift-All

December 23, 2008 – Altec, L.L.C., a wholly-owned subsidiary of Altec, Inc., Birmingham, Ala., announced today that it has finalized the acquisition of Lift-All, a manufacturer of aerial lifts and digger derricks. The acquisition includes Lift-All’s products, its manufacturing assets, and facilities. In addition Altec has acquired certain other assets and real estate as part of the purchase agreement.

“This acquisition provides Altec with a unique opportunity to broaden our product line and offer additional choice and value to our customers”, said Lee Styslinger, III, president and CEO of Altec, Inc. “Lift-All has had a well-established reputation for producing reliable, quality products for nearly 30 years. Their equipment will be an excellent complement to Altec’s products and services.”