Manitowoc Launches New Cutter for U.S. Coast Guard

USCGC ASPEN is Eighth of 14 U.S. Coast Guard Seagoing Buoy Tenders

Scheduled for Delivery



Apr 25, 2001, 01:00 ET from The Manitowoc Company, Inc.

    MANITOWOC, Wis., April 25 /PRNewswire/ -- The Manitowoc Company, Inc.
 (NYSE:   MTW) today announced that Marinette Marine Corporation, its Marinette,
 Wisconsin-based marine subsidiary, launched the U.S. Coast Guard Cutter Aspen
 (WLB-208) on Saturday, April 21, 2001.  The Aspen is the eighth ship in a
 series of 14 seagoing buoy tenders under contract for construction by
 Marinette Marine.  This 225-foot Juniper class (WLB) seagoing buoy tender is
 part of a $309 million contract awarded in September 1998, which contains
 options for an additional two vessels, yet to be awarded.
     "Marinette continues to demonstrate its industry-leading quality and
 efficiency with each vessel launch," said Terry D. Growcock, Manitowoc's
 president and chief executive officer.  "This shipyard is known throughout the
 maritime industry for its exceptional engineering and manufacturing
 capabilities and has completed each of the Juniper class and Keeper class buoy
 tenders it has built on or ahead of schedule and on budget.  Marinette has
 been a welcome addition to Manitowoc's Marine group, and we look forward to
 continued success with the U.S. Coast Guard in the future."
     Launch ceremonies on Saturday featured a spectacular side launch of the
 cutter into the Menominee River.  The Aspen will be based in San Francisco,
 California under the command of LCDR Adam Shaw and includes a complement of
 six officers and 34 enlisted personnel.  Aspen will join her sister cutters,
 now operating in both the Atlantic and Pacific Oceans, as the newest member of
 a fleet of technically advanced and highly capable buoy tenders.  Aspen is
 equipped to perform search and rescue, law enforcement, pollution response,
 and domestic icebreaking missions as well as servicing aids to navigation.
     The Manitowoc Company, Inc. is a leading manufacturer of ice-cube
 machines, ice/beverage dispensers, and commercial refrigeration equipment for
 the foodservice industry.  It is also a leading producer of lattice-boom
 cranes, boom trucks, and related products for the construction industry, and
 is the largest provider of ship repair, conversion, and new-construction
 services for the U.S. Great Lakes maritime industry.
 
     Any statements in this news release concerning Manitowoc's continued
 success with the U.S. Coast Guard are forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995, and involve
 risks and uncertainties.  Potential factors could cause actual results to
 differ materially from those expressed or implied by such statements.  These
 statements include, but are not limited to, those relating to Manitowoc's
 ability to win shipbuilding contracts, price and availability of steel and
 other construction materials, potential labor disputes and other liabilities.
 Information on the potential factors that could affect the company's actual
 results of operations is included in its filings with the Securities and
 Exchange Commission, including but not limited to its Annual Report on Form
 10-K for the fiscal year ended December 31, 2000.
 
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SOURCE The Manitowoc Company, Inc.
    MANITOWOC, Wis., April 25 /PRNewswire/ -- The Manitowoc Company, Inc.
 (NYSE:   MTW) today announced that Marinette Marine Corporation, its Marinette,
 Wisconsin-based marine subsidiary, launched the U.S. Coast Guard Cutter Aspen
 (WLB-208) on Saturday, April 21, 2001.  The Aspen is the eighth ship in a
 series of 14 seagoing buoy tenders under contract for construction by
 Marinette Marine.  This 225-foot Juniper class (WLB) seagoing buoy tender is
 part of a $309 million contract awarded in September 1998, which contains
 options for an additional two vessels, yet to be awarded.
     "Marinette continues to demonstrate its industry-leading quality and
 efficiency with each vessel launch," said Terry D. Growcock, Manitowoc's
 president and chief executive officer.  "This shipyard is known throughout the
 maritime industry for its exceptional engineering and manufacturing
 capabilities and has completed each of the Juniper class and Keeper class buoy
 tenders it has built on or ahead of schedule and on budget.  Marinette has
 been a welcome addition to Manitowoc's Marine group, and we look forward to
 continued success with the U.S. Coast Guard in the future."
     Launch ceremonies on Saturday featured a spectacular side launch of the
 cutter into the Menominee River.  The Aspen will be based in San Francisco,
 California under the command of LCDR Adam Shaw and includes a complement of
 six officers and 34 enlisted personnel.  Aspen will join her sister cutters,
 now operating in both the Atlantic and Pacific Oceans, as the newest member of
 a fleet of technically advanced and highly capable buoy tenders.  Aspen is
 equipped to perform search and rescue, law enforcement, pollution response,
 and domestic icebreaking missions as well as servicing aids to navigation.
     The Manitowoc Company, Inc. is a leading manufacturer of ice-cube
 machines, ice/beverage dispensers, and commercial refrigeration equipment for
 the foodservice industry.  It is also a leading producer of lattice-boom
 cranes, boom trucks, and related products for the construction industry, and
 is the largest provider of ship repair, conversion, and new-construction
 services for the U.S. Great Lakes maritime industry.
 
     Any statements in this news release concerning Manitowoc's continued
 success with the U.S. Coast Guard are forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995, and involve
 risks and uncertainties.  Potential factors could cause actual results to
 differ materially from those expressed or implied by such statements.  These
 statements include, but are not limited to, those relating to Manitowoc's
 ability to win shipbuilding contracts, price and availability of steel and
 other construction materials, potential labor disputes and other liabilities.
 Information on the potential factors that could affect the company's actual
 results of operations is included in its filings with the Securities and
 Exchange Commission, including but not limited to its Annual Report on Form
 10-K for the fiscal year ended December 31, 2000.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X41186336
 
 SOURCE  The Manitowoc Company, Inc.