SAO PAULO, Brazil, May 3 /PRNewswire-FirstCall/ -- Iochpe-Maxion S.A. (OTC:IOCJYOTC:[Preferred]) (BULLETIN BOARD: IOCJY [Preferred]) (Bovespa: MYPK3 [Common] MYPK4 [Preferred]) today announced its consolidated results for the 1Q06, pursuant to Brazilian Corporate Law. -- Net Operating Revenue: R$340.3 million -- Gross Profit: R$63.8 million -- Earnings Before Interest and Taxes (EBIT): R$37.7 million -- Earnings After Financial Expenses: R$31.5 million -- Net Income: R$14.9 million -- Earnings Per Share (EPS): R$0.2800 -- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): R$44.7 million -- Net Bank Debt: R$150.8 million -- Capital Expenditures: R$13.5 million Iochpe-Maxion recorded net income of R$14.9 million in the first quarter 2006, 1.4% less than the first quarter 2005. Net operating revenue reached R$340.3 million, a 3.5% decrease over the same period of 2005, following the slowdown in the domestic production of buses and agricultural machinery, the impact of the Real appreciation on exports, combined with export growth in industrial and railway castings. Exports reached US$29.2 million in the first quarter of 2006, an increase of 28.6% in the Dollar amount over the same period of 2005. The net bank debt reached R$150.8 million at the end of March 2006 against R$157.8 million in March 2005. The ratio between the last 12 months EBITDA reached 0.7x, inferior to the 0.9x presented at the end of March 2005. Capital expenditures reached R$13.5 million in the quarter, primarily towards plant modernization and production capacity increase. About Iochpe-Maxion Iochpe-Maxion is the largest Brazilian manufacturer of wheels and frames for commercial vehicles and railway freight cars and castings. It is the controlling holding shareholder of two main companies: Maxion Sistemas Automotivos Ltda. (which operates through the Wheels and Frames Division and the Automotive Component Division), and Amsted Maxion Fundicao e Equipamentos Ferroviarios S.A. These companies have five plants in the cities of Cruzeiro, Osasco and Hortolandia, in the state of Sao Paulo; and in Contagem, in the state of Minas Gerais. Iochpe-Maxion is a publicly traded company since 1984. Iochpe-Maxion has Companhia Iochpe and BNDESPAR as its controlling shareholders, both represented on its Board of Directors. The Iochpe-Maxion investor relations Web site at http://www.iochpe-maxion.com.br/ contains comprehensive information about the company, including quarterly financial statements, presentations and releases. Contact: Marcio Fenelon Iochpe-Maxion S.A. Investor Relations Phone: +011-55-11-5508-3843 Fax: +011-55-11-5506-7353 DATASOURCE: Iochpe-Maxion S.A. CONTACT: Investors, Marcio Fenelon, Iochpe-Maxion S.A., +011-55-11-5508-3843, or fax, +011-55-11-5506-7353, or Web site: http://www.iochpe.com.br/

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