As set forth in the indenture for the notes, Manitowoc will pay holders 105.188% of the principal amount plus accrued and unpaid interest up to the redemption date.

The company will redeem all of the notes for approximately €195million ($230m), including interest payments and related costs. At December 31 2005, the notes represented $207.5m of the company’s $474m of long-term debt. The notes were issued May 9 2001, in conjunction with the acquisition of Potain SAS.

The Bank of New York, trustee for the issue, will redeem notes at its offices in London and Luxembourg.