BancBoston Robertson Stephens Reiterates Buy Rating on OTRKB.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 1, 1999--

BancBoston Robertson Stephens managing director and senior industrial growth analyst Michael R. Mach today reiterated his Buy rating on Oshkosh Truck Corp. (NASDAQ:OTRKB).

Oshkosh Truck is a leading supplier of specialty heavy-duty trucks and truck bodies used in construction, defense, refuse-hauling, snow removal, and fire and emergency applications.

"We are reiterating our Buy rating on Oshkosh with a 12-month price target of $43. Oshkosh Truck's stock price has declined approximately ten percent over the last few days, which we believe may in part reflect negative press releases recently issued by leading companies in the cement and refuse industry," said Mach. "Based on our analysis, we believe the downward earning guidance provided by both Southdown Inc. and Republic Services Inc. was more company-specific than industry-related."

"In our view, Oshkosh Truck's commercial business is strong. As of June 30, 1999, backlogs in refuse packers were up 26 percent over prior year levels and backlogs within the company's cement business were also strong with front-end loaders and rear-end loaders up 84 percent and 157 percent over prior year levels, respectively," said Mach. "Incoming orders in each of these businesses have continued strong since the end of the third quarter."

"We continue to have confidence in our fourth quarter 1999 earnings-per-share estimate of $0.71, which is more than 80 percent above Oshkosh Truck's fourth quarter 1998 estimates," said Mach.

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