<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex991.txt
<DESCRIPTION>EXH 99-1 NEWS RELEASE - NEW MANAGMNT MINING SEG.
<TEXT>
                               [Terex Letterhead]


                     NEWS RELEASE NEWS RELEASE NEWS RELEASE

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


                TEREX ANNOUNCES NEW MANAGEMENT FOR MINING SEGMENT

         WESTPORT, CT, January 23, 2004 - Terex Corporation (NYSE: TEX) today
announced that Rick Nichols has been named to the position of President of Terex
Materials Processing and Mining. The Unit Rig truck and O&K Mining shovel
businesses along with the Material Processing businesses of Cedarapids,
Simplicity, Jacques and Canica will now be under Mr. Nichol's leadership,
broadening his Terex responsibilities. This change will take effect immediately.
Thys de Beer, currently President of Terex Mining, will continue with the
Company, working on various corporate initiatives and special assignments. Both
Rick Nichols and Thys de Beer will continue to report to Ronald DeFeo, Terex's
Chairman and CEO.

         "This realignment allows Terex to offer a range of products to mining
customers that is compelling and unmatched by our competition. Our mining
shovels dig and load, our trucks transport and our large crushing and screening
products process the materials. Putting these together can offer a compelling
productivity advantage," commented Ronald DeFeo. "We have a lot to do in order
to deliver on this promise, but this new focus moves us closer to the customer,
which is always a good thing."

         "Rick has made progress at the Material Processing businesses and with
his significant experience with our Mining business can bring this customer
focus to fruition," added Mr. DeFeo. Rick joined Terex Mining as Vice President
of Operations in 1999 from Allied Signal. He was promoted to General Manager of
Materials Processing in early 2003. He will continue to reside in Cedar Rapids,
Iowa.

         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, Lectra Haul, Load King, Lorain, Marklift, Matbro,
Morrison, Muller, O&K, Payhauler, Peiner, Powerscreen, PPM, Re-Tech, RO, Royer,
Schaeff, Simplicity, Square Shooter, Tatra, Telelect, Terex, and Unit Rig. 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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