<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99-1.txt
<DESCRIPTION>EXH 99.1 REEDRILL PRESS RELEASE ISSUED 1-3-05
<TEXT>





                                [Terex Logo]

                     NEWS RELEASE NEWS RELEASE NEWS RELEASE

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

                     TEREX COMPLETES ACQUISITION OF REEDRILL

         WESTPORT, CT, January 3, 2005 - Terex Corporation (NYSE: TEX) announced
today that it has completed its previously announced acquisition of the Reedrill
division from Metso Corporation. Reedrill, headquartered in Sherman, Texas, is a
leading manufacturer of surface drilling equipment for use in the mining,
construction and utility industries, with estimated 2004 revenues of
approximately $80 million. This transaction was completed on December 31, 2004.

         "We are very excited about the opportunity in front of us," commented
Rick Nichols, President - Terex Materials Processing and Mining. "We believe
that the Reedrill product lines are a nice complement to our Terex Mining
products, which include electric mining trucks and hydraulic mining shovels.
This product extension helps us to better service our customers' needs and
provides further penetration into the mining, construction and utility
businesses." Mr. Nichols also stated, "We believe that there are cost saving
opportunities to make this business more profitable, as we integrate the
Reedrill product line into the Terex business model and our Materials Processing
and Mining group." More information on Reedrill and their product line can be
found at www.reedrill.com.

Safe Harbor Statement

         The above contains forward-looking statements based on Terex's current
expectations and projections about future events. Because forward-looking
statements involve risks and uncertainties, actual results could differ
materially. Such risks and uncertainties, many of which are beyond Terex's
control, include among others: Terex's business is highly cyclical and weak
general economic conditions may affect the sales of its products and its
financial results; the sensitivity of construction, infrastructure and mining
activity and products produced for the military to interest rates and government
spending; the ability to successfully integrate acquired businesses; the
retention of key management personnel; Terex's businesses are very competitive
and may be affected by pricing, product initiatives and other actions taken by
competitors; the effects of changes in laws and regulations; Terex's business is
international in nature and is subject to changes in exchange rates between
currencies, as well as international politics; the ability of suppliers to
timely supply Terex parts and components at competitive prices; the financial
condition of suppliers and customers, and their continued access to capital;
Terex's ability to timely manufacture and deliver products to customers; Terex's
significant amount of debt and its need to comply with restrictive covenants
contained in Terex's debt agreements; compliance with applicable environmental
laws and regulations; and other factors, risks, uncertainties more specifically
set forth in Terex's public filings with the SEC. In addition, until the review
by Terex of its previously announced intercompany account imbalance is
concluded, no assurance can be given with respect to the financial statement
adjustments, impacts and periods resulting from such review, nor can there be
assurance that additional adjustments to the financial statements will not be
identified. Actual events or the actual future results of Terex may differ
materially from any forward looking statement due to those and other risks,
uncertainties and significant factors. The forward-looking statements herein
speak only as of the date of this release. Terex expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statement included in this release to reflect any changes in
Terex's expectations with regard thereto or any changes in events, conditions,
or circumstances on which any such statement is based.

         Terex Corporation is a diversified global manufacturer with 2003 net
sales of $3.9 billion. The Company operates in five business segments: Terex
Construction, Terex Cranes, Terex Aerial Work Platforms, Terex Materials
Processing & Mining, and Terex Roadbuilding, Utility Products and Other. Terex
manufactures a broad range of equipment for use in various industries, including
the construction, infrastructure, quarrying, recycling, surface mining,
shipping, transportation, refining, utility and maintenance industries. 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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