NACCO Materials Handling Group, Inc. Selects XRT Enterprise Suite to Automate Worldwide Treasury Operations

Company awards major contract to achieve greater capital efficiency, better risk management and more timely decision-making capabilities

KING OF PRUSSIA, February 10, 2004 - NACCO Materials Handling Group, Inc. (NMHG) [NYSE: NC], one of the largest global suppliers of lift truck products, has selected the XRT Enterprise Suite to automate and standardize its global treasury management processes.

NMHG, which manufactures the Hyster(tm) and Yale(tm) brand lift trucks, expects the XRT Enterprise Suite will allow treasury management to focus on value-added analysis and advisory activities by reducing the time spent on manual and repetitive data entry processes.

"We expect to more rapidly achieve our goals of implementing best practices in capital efficiency, risk management and expense control by automating our global treasury operation," Julie Boadway, lead treasury analyst for NMHG, said. "The XRT Enterprise Suite supports our enterprise business drivers, such as standardizing global processes to improve forecasting and minimizing our exposure to financial and operational risks. It will also improve financial visibility into current business conditions for our senior management."

Another key factor in choosing the XRT Enterprise Suite is the software's ability to help NMHG comply with the ever-increasing regulatory requirements of multiple countries, such as the Sarbanes-Oxley Act in the United States, Boadway said.

"Global companies, such as NMHG, are realizing that automating their treasury operations provides a real competitive advantage because financial decisions can be made much more rapidly and efficiently than before", John Wlcek, General Manager for XRT North America, said. "As a company solely dedicated to treasury management solutions, we work hand-in-hand with our customers to ensure their treasury management processes reflect best practices and take the fullest advantage possible of the capabilities offered in the XRT Enterprise Suite."

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