Awarded U.S. Department of Commerce Export Achievement Certificate

Climax recognized for its successful entry into the Australian industrial market.

NEWBERG, Ore. September 27, 2004 - Climax Portable Machine Tools, a strategic world-class provider of comprehensive, on-site machining solutions, has been awarded an Export Achievement Award from the U.S. Department of Commerce. The award honors Climax for its success in entering the Australian export market to provide portable, on-site machining solutions for the shipbuilding, power generation, and service and engineering sectors.

Daniel Bloom, director of the Advocacy Center, U.S. Department of Commerce will present Climax with the Export Achievement Certificate at the Climax world headquarters in Newberg, Oregon on Thursday, September 30 at 10:30 a.m. To support tool sales in these global markets, the company plans to continue manufacturing its tools at its headquarters in Newberg. By concentrating manufacturing in Oregon while simultaneously expanding export markets, Climax has experienced steady employee growth in recent years. For example, between August 2003 and August 2004, Climax’s employee base grew by 23 percent. Additionally, the company’s strategic business units realized a 25 percent growth in new business, which led to new hires.

Climax’s ability to sustain its job growth domestically mirrors a national economic trend that demonstrates the positive impact of exports on the American job market. For example, according to U.S. Department of Commerce data, by exporting their products, U.S. companies can support more than 12 million jobs that pay as much as 18 percent more than the average national wage.

"It’s the dedication and hard work of small businesses like Climax Portable Machine Tools that keep the country strong and growing," said Daniel Bloom, director of the Trade Advocacy Center, U.S. Department of Commerce. " These businesses make up the backbone of our economy, accounting for 70 percent of new jobs created." The Export Achievement Certificate recognizes small and medium-sized organizations that have successfully entered the international marketplace for the first time or that have effectively entered a new export market.

According to Gail Snyder, senior international trade specialist for the U.S. Department of Commerce, "Climax Portable Machine Tools has been very successful at developing new market opportunities. Climax was selected for this award because of its commitment to developing a strong network of international distributors, and the smart investment of company resources to successfully enter the Australian marketplace." "Climax is honored to receive the Export Achievement Certificate," said Climax CEO Geoff Gilmore, Ph.D., P.E. "We are proud to contribute to the strength and vitality of the Oregon economy by creating and sustaining jobs in Oregon, all the while expanding our presence in worldwide industrial marketplaces."

About Climax Portable Machine Tools, Inc.

Based in Oregon, Climax Portable Machine Tools, Inc. is a strategic world-class provider of comprehensive, on-site machining solutions. The company offers specialized engineering consulting services, customized training programs and a full line of portable machine tools enabling customers to efficiently perform on-site machining for applications in the shipbuilding, power generation, and service and engineering sectors. Climax Portable Machine Tools pioneered the portable machine tools concept. As the world’s largest supplier of portable machine tools, it offers standard and custom-built solutions and serves the domestic and international markets through its own international offices and licensed representatives in 23 countries. More information about the company is available at www.cpmt.com.