EANS-Adhoc: Demag Cranes AG: Management Board and Supervisory Board recommend not to accept Terex offer

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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31.05.2011

Duesseldorf, 31 May 2011. The Management Board and Supervisory Board
of Demag Cranes AG today both unanimously and without any abstention
from voting agreed their joint reasoned opinion in accordance with
Section 27 of the German Securities Acquisition and Takeover Act
(WpÜG) regarding the voluntary public tender offer published by Terex
Industrial Holding AG on 19 May 2011. Following an extensive review
and consideration of all relevant circumstances, both Management
Board and Supervisory Board recommend that the shareholders of Demag
Cranes AG should not accept the offer.

The reasoned opinion will be published in full during the day and can
be viewed on the company´s website in German at http://www.demagcrane
s-ag.de/de/Investor_Relations/Uebernahme-angebot/index.jsp as well as
in English translation at http://www.demagcranes-ag.de/en/Investor_Re
lations/Tender_Offer/index.jsp. The German version is authoritative.

end of announcement euro adhoc
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issuer: Demag Cranes AG
Forststrasse 16
D-40597 Düsseldorf
phone: +49(0211) 7102 1218
FAX: +49(0211) 7102 1215
mail: ir@demagcranes-ag.com
WWW: http://www.demagcranes-ag.com
sector: Machine Manufacturing
ISIN: DE000DCAG010
indexes: MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English

ots Originaltext: Demag Cranes AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Susanne Tengler
Telefon: +49(0)211 7102-1218
E-Mail: Susanne.Tengler@demagcranes-ag.com

Branche: Machine Manufacturing
ISIN: DE000DCAG010
WKN: DCAG01
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade