Terex Under Investigation By SEC

Posted on August 29, 2005
Terex Corp. said it has been advised by the Securities and Exchange Commission that it is commencing an investigation of Terex related to the previously announced restatement of its financial statements for the years ended December 31, 2000, 2001, 2002 and 2003. The restatement principally pertains to errors identified by Terex in accounting for, and reconciliation of, certain intercompany imbalances, as well as in the failure to properly eliminate, in consolidation, all intercompany accounts in accordance with generally accepted accounting principles. While no formal order has yet been issued, Terex said it is cooperating fully and intends to voluntarily provide the SEC staff with information.
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