<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex991.txt
<DESCRIPTION>EXHIBIT 99.1 NEWS RELEASE - SR. SUBORD NOTE
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                     NEWS RELEASE NEWS RELEASE NEWS RELEASE


For information,  contact:  Tom Gelston,  Director,  Investor Relations at (203)
222-5943


                     TEREX CORPORATION ANNOUNCES PRICING OF
                    $300 MILLION OF SENIOR SUBORDINATED NOTES


         WESTPORT, CT, November 10, 2003 - Terex Corporation (NYSE: TEX) today
announced that it priced $300,000,000 principal amount of Senior Subordinated
Notes due 2014. The notes will be issued with a coupon of 7.375% and will have a
yield to maturity of 7.5%. Terex intends to use the net proceeds from the
offering to prepay the remaining $200,000,000 in principal amount outstanding of
its 8.875% Senior Subordinated Notes due 2008 and to prepay approximately
$100,000,000 of its existing bank term loans. Terex also intends to prepay an
additional $100,000,000 of its existing bank term loans with cash on hand. The
result of these transactions will be to reduce total debt by $100,000,000. In
addition, $200,000,000 in principal amount of the Notes will be swapped to a
floating rate similar to that paid by Terex under its existing credit facility.
The transactions are expected to close during the fourth quarter of 2003. Terex
will take a pre-tax charge of approximately $5,500,000 in the fourth quarter due
to the early retirement of existing debt.

         In connection with the offering of the new Notes, Terex is seeking to
amend its existing bank credit facility. The closing of the Notes offering is
conditioned upon Terex gaining approval of the amendment to its bank credit
facility. Terex expects that the amendment will, among other things, permit the
redemption of the 8.875% Senior Subordinated Notes due 2008 with proceeds from
this offering, allow for the repurchase of Terex's 10.375% Senior Subordinated
Notes due 2011 on or after April 1, 2006, and modify certain financial covenants
for the second half of 2004 and 2005.

         It is intended that Terex Corporation will offer these Senior
Subordinated Notes pursuant to Rule 144A promulgated under the Securities Act of
1933, as amended (the "Act"), and that they will not initially be registered
under the Act. Accordingly, these Senior Subordinated Notes will not be able to
be offered or sold in the United States absent registration under the Act or an
applicable exemption from the registration requirements. This press release does
not constitute an offer to sell, or the solicitation of an offer to buy, any
securities of Terex Corporation.

         Terex Corporation is a diversified global manufacturer based in
Westport, Connecticut, with 2002 revenues of $2.8 billion. Terex is involved in
a broad range of construction, infrastructure, recycling and mining-related
capital equipment under the brand names of Advance, American, American Truck,
Amida, Atlas, Bartell, Bendini, Benford, Bid-Well, B.L. Pegson, Canica,
Cedarapids, Cifali, CMI, Coleman Engineering, Comedil, CPV, Demag, Fermec,
Finlay, Franna, Fuchs, Genie, Grayhound, Hi-Ranger, Italmacchine, Jaques,
Johnson-Ross, Koehring, Load King, Lorain, Marklift, Matbro, Morrison, Muller,
O&K, Peiner, Powerscreen, PPM, Re-Tech, RO, Royer, Schaeff, Simplicity, Square
Shooter, Tatra, Telelect, and Terex. Terex offers a complete line of financial
products and services to assist in the acquisition of Terex equipment through
Terex Financial Services. More information on Terex can be found at
www.terex.com.

                                      # # #


                                Terex Corporation
           500 Post Road East, Suite 320, Westport, Connecticut 06880
          Telephone: (203) 222-7170, Fax: (203) 222-7976, www.terex.com


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