The Manitowoc Company, Inc. Announces Pricing of Follow-On Offering Nov 16, 2007

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The Manitowoc Company, Inc. announced that a public offering of 4,000,000 shares of its common stock was priced at US$39.48 per share to the public. The underwriting agreement for the offering does not provide an option for the underwriter to purchase additional shares from the company to cover over-allotments. The company expects that the closing of the offering and the delivery of the shares will occur on Nov. 21, 2007. Manitowoc expects to receive net proceeds from the offering of approximately $156.9 million after deducting underwriting discounts and estimated expenses of the offering. The company intends to use the net proceeds of the offering to repay certain funded indebtedness and for other general corporate purposes.

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