As previously disclosed, Navistar International Corporation ("Navistar"), through its wholly owned subsidiary Workhorse International Holding Company, completed the acquisition of certain assets of Monaco Coach Corporation ("Monaco") for cash consideration of approximately $45 million. Navistar funded the purchase price with cash on hand.

Monaco filed for Chapter 11 bankruptcy relief March 5, 2009 in the District of Delaware and the transaction was consummated following court approval.

Under the terms of the asset purchase agreement, Navistar acquired five manufacturing facilities, intellectual property and trademarks and certain inventory.

Daniel C. Ustian, Navistar's Chairman, President and Chief Executive Officer was on the board of directors of Monaco and recused himself from any vote related to the transaction.

Navistar and Monaco have a previous relationship through their joint venture, Custom Chassis Products LLC.