BUCY Bucyrus International, Inc. (MM)

Bucyrus International, Inc. (Nasdaq:BUCY), a world leader in the design and manufacture of mining equipment, learned today that the U.S. Export-Import Bank has decided to reconsider the application of Reliance Power for loan guarantees supporting the export of Bucyrus' U.S. manufactured mining equipment. In a phone conversation with Bucyrus Chief Executive Officer and President Tim Sullivan, Chairman Fred Hochberg of the U.S. Export-Import Bank, confirmed that the Bank now has sufficient additional information, including a broader understanding of Reliance Power's development of other renewable power generation facilities, to approve this application from an environmental perspective. Chairman Hochberg committed to an expedited review and approval of the loan guarantees. This project will generate nearly 1,000 jobs in the U.S., as indicated by a study conducted by the Metropolitan Milwaukee Association of Commerce.*    

The nearly 1,000 U.S. jobs supported by the project include over 300 family-supporting jobs in the Milwaukee region and approximately 650 additional U.S. jobs in Bucyrus' supply chain. "We are very pleased with the decision of the U.S. Export-Import Bank to change course and support this project. This is great news for Bucyrus, but more importantly it is great news to be keeping this work in the U.S. and providing job opportunities across 13 states," said Mr. Sullivan.

"We wouldn't have been able to get this back on the right track without the support of our business partners, elected officials and the Administration's support of U.S. manufacturer's exports," Sullivan said. "I would like to personally thank Governor Jim Doyle, Mayor Tom Barrett, Senators Herb Kohl and Russ Feingold, as well as Representatives Gwen Moore, Paul Ryan and Jim Sensenbrenner for helping Bucyrus, the Milwaukee region and beyond. We will need everyone's continuing support." 

Chairman Hochberg also committed to meetings with Mr. Sullivan and Congressional, Business and Environmental leaders in the coming months to clarify Bank policy. "I am looking forward to meeting in person with Chairman Hochberg and other leaders later this summer in Washington to clarify future policy so we can bring even more jobs to Wisconsin and the United States," said Sullivan.

* Full economic impact report available at www.mmac.org

About Bucyrus International, Inc.

Bucyrus is a world leader in the design and manufacture of high productivity mining equipment for the surface and underground mining industries. Bucyrus' surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus' underground mining equipment is used primarily for mining coal and also used in mining minerals such as potash and trona. In addition to machine manufacturing, Bucyrus manufactures high quality OE parts and provides world-class support services for their machines. Bucyrus' corporate headquarters is located in South Milwaukee, Wisconsin, USA.

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All Bucyrus financial news releases and SEC filings are posted to Bucyrus' websites. Material and financial releases as well as SEC filings are available at www.investors.bucyrus.com. Automatic email alerts for these postings are available from this site. Corporate and general releases as well as product information is available at www.bucyrus.com.

Special Note Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of predictive, future tense or forward-looking terminology, such as "believes," "anticipates," "expects," "estimates," "intends," "may," "will" or similar terms. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may differ materially from those contained in the forward-looking statements as a result of various factors, some of which are unknown. Bucyrus' policy on forward-looking statements, including a list of factors that could cause actual results to differ materially from those anticipated in forward-looking statements, as well as risk factors relating to Bucyrus are included in Bucyrus' 2008 Form 10-K filed with the Securities and Exchange Commission on March 2, 2009 and any other cautionary statements described in other reports filed by Bucyrus with the Securities and Exchange Commission. All forward-looking statements attributable to Bucyrus are expressly qualified in their entirety by the foregoing cautionary statements. Bucyrus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:  Bucyrus International, Inc.
          Shelley M. Hickman, Director Global Communications
          414-768-4599
          Fax: 414-768-5262
          shickman@bucyrus.com
          www.bucyrus.com