On signing a refinancing agreement dated 18 November 2010, Demag Cranes AG has taken out a syndicated revolving credit facility amounting to EUR 350,000,000 with a maturity of five years for which the significant companies of the Group are jointly and severally liable to the lenders. The agreement includes a revolving credit facility for cash drawings amounting to EUR 200,000,000 and a credit facility for bank guarantees totalling EUR 150,000,000 and was concluded on arms length terms. The revolving credit facility for cash drawings can also be drawn to finance legal acquisitions. There are also financial covenants to be observed during the lifetime of the credit facility. These financial covenants include stipulated ratios for consolidated net debt to consolidated operating EBITDA (less than 2.75) and for consolidated operating EBITDA to consolidated net interest payment (greater than 4.0) are applicable for the current credit facility as for the previous one. If the financial covenants are not met and the non-compliance is not remedied or the lenders do not waive the covenants, there are grounds for termination under the conditions of the credit facility. Among other things, the lenders are then entitled to call due all amounts owed with immediate effect. A further right of termination exists in certain instances where a third party acquires a majority shareholding in Demag Cranes AG.

The credit facility, for which the agreement was recently signed, will be opened on 31 January 2011 for the first time and will replace the master loan agreement for a total amount of EUR 325,000,000.

No other events material to the financial position or financial performance of the Demag Cranes Group occurred after the balance sheet date.

Düsseldorf, 29 November 2010

Aloysius Rauen

Rainer Beaujean

Thomas H. Hagen