Quantum Value Management

							     Quantum Value Partners Purchases Two Companies –
      Crane & Machinery, Inc. and Schaeff Incorporated

Warren, Michigan (November 4th, 2003) Quantum Value Partners, L.P. (“Quantum”)
purchased two capital equipment companies – Crane & Machinery, Inc. (“CM”) and Schaeff
Incorporated (“Schaeff”).

CM is a leading distributor in material handling equipment. CM represents Terex in new, used
and rental equipment and is also the largest Illinois parts distributor for Terex. Schaeff is a
leading manufacturer of electric, stand-up counter balance forklifts. Schaeff has over 50 years of
experience developing innovative material handling solutions in North America.

According to David Langevin, a managing partner at Quantum, “We are pleased to partner with
these great companies and plan to leverage Quantum’s resources (both capital and expertise) to
assist them in further penetrating existing customers, adding new customers, and broadening new
products and services. We look forward to providing even greater support and service to CM
and Schaeff customers”.


About Quantum Value Partners, L.P.

Quantum Value Partners, L.P. is a private equity fund seeking long-term capital growth through
investments in small and middle market companies in North America. Headquartered in
Michigan, with offices in New York and Connecticut, Quantum will invest across a broad set of
industries including manufacturing, services, distribution, industrial equipment and consumer
products. Utilizing the partners’ executive backgrounds in operating companies, Quantum looks
to realize and enhance shareholder value through a hands-on active management approach to
each investment. The website is www.qvmllc.com

For additional information please call David Langevin at (203) 221-1387.