Company Press Releases

Titan Machinery

Titan Machinery Closes Acquisition of 9 Dealerships

January 23, 2009 — FARGO, N.D.--(BUSINESS WIRE)--Titan Machinery Inc. (NASDAQ:TITN - News) announced today that it has closed on the previously announced acquisition of Western Plains Machinery Co. and WP Rentals, consisting of nine construction equipment locations in Montana and Wyoming. The acquisition closed on January 1, 2009.

Founded in 1940, Western Plains Machinery has Case Construction dealerships in Billings, Great Falls, Missoula, and Kalispell, Montana and Casper and Gillette, Wyoming. WP Rentals has locations in Billings and Belgrade, Montana and Cheyenne, Wyoming. These nine locations are contiguous to Titan Machinery’s existing construction stores and are expected to continue producing solid financial results by focusing on energy, mining, residential, commercial and infrastructure projects on the local, state and federal levels. In its most recently reported fiscal year ended December 31, 2007, Western Plains Machinery and WP Rental generated revenues of $48.9 million.

About Titan Machinery Inc.
Titan Machinery Inc., founded in 1980 and headquartered in Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations. The Company owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. The current Titan Machinery network consists of 61 dealerships in North Dakota, South Dakota, Minnesota, Iowa and Nebraska, including two outlet stores, representing one or more of the CNH Brands (NYSE:CNH - News) CaseIH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.

Forward Looking Statements
Certain statements found in this press release may constitute forward-looking statements as defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. Such statements are generally identifiable by the terminology used, such as "anticipate," "believe," "intend," "expect," "plan," or other similar words. Our forward-looking statements in this release generally relate to the benefits related to the Western Plains Co. and WP Rentals acquisition. Although it is not possible to foresee all of the factors that may cause actual results to differ from our forward-looking statements, such factors include, among others, integrating its operations with Titan Machinery and those risks described from time to time in our reports to the Securities and Exchange Commission. Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions that could cause our current expectations or beliefs to change. Stockholders and other readers should not place undue reliance on "forward-looking statements," as such statements speak only as of the date of this release. We undertake no obligation to update publicly or revise any forward-looking statements.

Contact:
ICR, Inc.
John Mills, 310-954-1100
jmills@icrinc.com

Cherry Tree is a founder, investor and board member of Titan Machinery, Inc.