SCOTTSDALE, Ariz., Nov. 12 /PRNewswire-FirstCall/ -- The Association of Equipment Manufacturers (AEM) announced former Caterpillar Chairman and Chief Executive Officer, Donald V. Fites, has been inducted into the prestigious AEM Hall of Fame. The honor is designed to celebrate and preserve the history of outstanding leaders in the off-road equipment industry. The induction took place during the AEM Annual Conference November 11, 2008 in Scottsdale. An independent panel of industry experts judged the candidates on industry contributions, leadership, innovation, corporate citizenship/social responsibility and sustainability. "We are pleased to continue the tradition of recognizing individuals whose vision and leadership have contributed greatly to the growth and strength of our industry and our quality of life," said AEM President Dennis Slater. "Don Fites represents one of the most influential minds in the history of construction and equipment manufacturing." As one of five inductees this year, Fites was recognized for his tremendous accomplishments during his 42 years at Caterpillar. He served as Chairman and Chief Executive Officer from June 1990 until his retirement in February 1999. Throughout his career, he was instrumental in providing the momentum for product and market innovations and new ventures. In 1975 he directed a study of engine capacity that set the course for the growth of the company's engine business into the 1990s. During the 1980s he oversaw creation of the Caterpillar Logistics Services program, which markets the company's parts distribution capabilities to other companies. "Don was an absolute pioneer in the world of manufacturing during his career at Cat," said Caterpillar Group President and AEM Board Member, Doug Oberhelman. "He guided our company through some very difficult times. And because of it, we are a much more diverse, global company in a strong position to handle the current economic turmoil we're facing and any other challenge that comes our way." In 1995, Financial Magazine named Fites "CEO of the Year" and The Wall Street Transcript named him the gold award winner of the machinery industry. In the late 1990s, Fites received the "Consumers for World Trade Annual" award and the Executives Club of Chicago named him "Executive of the Year." The other 2008 AEM inductees are: Sir Anthony Bamford, Chairman and Managing Director of JCB Jerome Increase Case, founder of the J.I. Case Machinery Company Ronald M. DeFeo, Chairman and Chief Executive Officer of Terex Corporation LeRoy G. Hagenbuch, P.E. is President of Philippi-Hagenbuch, Inc. The Hall of Fame was originally created to honor the pioneering individuals who invented, managed, built and led the construction equipment industry. Caterpillar founders Benjamin Holt, and Daniel Best are also members of the AEM Hall of Fame. About Caterpillar For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2007 sales and revenues of $44.958 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at http://www.cat.com/. DATASOURCE: Caterpillar Inc. CONTACT: Kate Kenny, Corporate Public Affairs of Caterpillar Inc., +1-309-636-5253, Web site: http://www.cat.com/

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