BELL EQUIPMENT LIMITED - PLANS TO EXPAND AND STRENGTHEN BUSINESS RELATIONSHIP

BELL EQUIPMENT LIMITED - PLANS TO EXPAND AND STRENGTHEN BUSINESS RELATIONSHIP   
Bell Equipment Limited                                                          
(Reg no 1968/013656/06)                                                         
ISIN:ZAE000028304  Share code: Bel                                              
Bell Equipment Limited and John Deere Construction & Forestry Company           
Announce Plans to Expand and Strengthen Business Relationship                   
Bell Equipment Limited, of Richards Bay, South Africa ("Bell") and John Deere   
Construction & Forestry Company, of Moline, Illinois USA ("Deere"), today       
announced their intention to enter into a series of agreements expanding their  
business relationship. Under these agreements, which are subject to the final   
approval of Bell"s board of directors, Deere will license Bell to manufacture   
Deere designed Tractor Loader Backhoes ("TLBs") and Front End Loaders ("FELs")  
in South Africa, and Bell will license Deere to manufacture Bell designed       
Articulated Dump Trucks ("ADTs") in North America.                              
Currently, Bell supplies ADTs to Deere, a 32% shareholder of Bell, for resale   
principally in North America.  These new arrangements are designed to provide   
significant cost reduction opportunities and leverage the advantages of local   
manufacturing for both parties.                                                 
"This strategic initiative is yet another step to strengthen the business       
relationship between Deere and Bell," said Gary Bell, CEO of Bell Equipment.    
"This collaboration will increase manufacturing flexibility and fundamentally   
change our cost structure.  Bell and Deere will continue to look for            
opportunities to improve operating efficiencies and reduce costs, while         
improving the quality of our products for our customers."                       
"Bell and Deere are committed to providing the highest quality products at      
competitive prices," said Pierre Leroy, President of Deere.  "This collaboration
will enable both companies to minimize the effects of currency exchange rates,  
reduce working capital requirements, and provide increased value to our         
customers."                                                                     
Under this plan, Deere will begin the manufacture of ADTs at its factory in     
Davenport, Iowa, USA during the Spring of 2005, and will continue to source     
various components from Bell.  Bell will continue to manufacture ADTs at both of
its current facilities in Richards Bay, South Africa and Eisenach, Germany.  As 
capacity requires, Deere may continue to purchase ADTs manufactured by Bell at  
these facilities.                                                               
Bell and Deere will collaborate on improvements to the ADTs and on cost         
reduction initiatives.  Deere"s considerable experience in the construction     
equipment industry and significant enterprise volume will assist Bell in        
reducing its cost of manufacture. The parties will together pursue global       
purchasing whenever possible to enable both companies to obtain components and  
parts at the lowest possible cost.  Bell will utilize these improvements and    
cost reductions in the ADTs it manufactures and sells throughout the world,     
making it a more effective global competitor.                                   
Under the agreements, it is anticipated that Bell will begin manufacturing Deere
designed loaders at its factory in Richards Bay, South Africa in early 2005, to 
expand its current product line. The FEL project will eliminate duplication of  
design by Bell and Deere and leverage Deere"s larger FEL volumes to reduce      
costs. Bell will continue to manufacture a number of its current models while   
the market remains viable. It is also anticipated that Bell will begin          
manufacturing TLBs at its factory in Richards Bay, South Africa in mid-2005.    
Based on current market requirements, Bell will be the sole manufacturer of     
Deere designed side-shift TLB"s and will provide the product to both Deere and  
Bell.                                                                           
By manufacturing an expanded line of FELs as well as TLBs, Bell will            
significantly diversify and expand it manufacturing base. As with the ADTs, Bell
and Deere will collaborate on cost reductions and in global sourcing of         
components.                                                                     
This increased collaboration between Bell and Deere will further increase       
flexibility and accelerate the realization of various synergies within the      
relationship. As a result of these steps, Bell will reduce current pressures    
caused by the strength of the rand, broaden its product manufacturing base, and 
improve its ability to support its customers.                                   
Richards Bay                                                                    
5 November 2004                                                                 
Date: 05/11/2004 07:00:03 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department