Finning International Inc T.FTT

RE: Still around $18.00

[Georgia_Straight]

Finning International Inc. Sale Of Its Materials Handling Business In Canada 7/16/01 FINNING INTERNATIONAL INC ("FTT-T") - Sale Of Its Materials Handling Business In Canada Finning International Inc. is selling its materials handling business in Western Canada. Finning announced it has signed a letter of intent for the sale of the business currently operated by its Materials Handling Division and its subsidiary Interior Lift Truck Services Inc. to Leavitt Machinery. The business provides sales, rentals and servicing of new and used forklifts and high-reach equipment. Ian M. Reid, President and Chief Operating Officer of Finning (Canada), said 150 hourly and salaried employees are affected by the ownership change, noting that Finning is confident that the employees will be well served by the new ownership structure. Reid said the sale to an independently owned operation better positions the business for growth due to the changing competitive structure of the materials handling industry in North America, and is consistent with Finning's strategy to focus on the performance and expansion of its core business. Tom Leavitt, principal owner of the new company, has headed Finning (Canada)'s materials handling operations in Western Canada since 1991. He said the new company will continue to operate the existing 13 materials handling outlets in B.C. and Alberta. On completion of a formal agreement, the new company will assume dealership rights for Mitsubishi/Caterpillar Forklift America and other existing product lines, including Taylor and Manitou forklifts and JLG high-reach equipment. Doug Whitehead, President and CEO of Finning International Inc., said "Finning will retain its materials handling operations in the United Kingdom where lift trucks are an integral part of the core industries served by Hewden Stuart and Finning (UK)". Mr. Whitehead also noted that this sale is consistent with Finning's objective to continue to focus on the Caterpillar line of equipment. The transaction is scheduled to be completed by September 30, 2001, and is subject to usual third party consents and notices. Finning International Inc. sells, rents, finances and provides customer support services for Caterpillar and complementary equipment in Western Canada, the U.K. and Chile. The corporation's Head Office is located in Vancouver, B.C., Canada. Finning International Inc. (www.finning.com) is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT). TEL: [phone] Anthony Guglielmin, Vice President and FAX: [phone] Corporate Treasurer, Finning International Inc. Email: [e-mail] Website: www.finning.com