FARGO, N.D.--(BUSINESS WIRE)--Jun. 11, 2009-- Titan Machinery Inc. (NASDAQ:TITN) announced today that it has entered into a definitive asset agreement to acquire the assets of Valley Equipment, Inc., a Case IH brand agriculture equipment dealership in Mayville, North Dakota. The acquisition is expected to close on June 30, 2009.

Located in the Red River Valley, Mayville is a progressive agricultural community with highly productive soils. Valley Equipment is strategically located between Titan Machinery’s Grand Forks and Arthur stores. In its most recently reported fiscal year, Valley Equipment generated annual revenues of $2.6 million.

David Meyer, Titan Machinery’s Chairman and CEO, said, “We are excited to bring the Titan Machinery operating model to the Mayville dealership. With its location in some of the best farmland in North America, Valley Equipment has excellent industry potential and experienced and knowledgeable employees. We expect to make an immediate impact in this market with our full line of Case IH equipment and believe that this will be an excellent addition to our network.”

About Titan Machinery Inc.

Titan Machinery Inc., founded in 1980 and headquartered in Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations. The Company owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. Including the Valley Equipment Inc. acquisition, the Titan Machinery network consists of 67 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska and Wyoming, including three outlet stores, representing one or more of the CNH Brands (NYSE:CNH) Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.

Forward Looking Statements

Certain statements found in this press release may constitute forward-looking statements as defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. Such statements are generally identifiable by the terminology used, such as "anticipate," "believe," "intend," "expect," "plan," or other similar words. Our forward-looking statements in this release generally relate to the benefits related to the Valley Equipment Inc. acquisition. Although it is not possible to foresee all of the factors that may cause actual results to differ from our forward-looking statements, such factors include, among others, integrating its operations with Titan Machinery’s existing network and those risks described from time to time in our reports to the Securities and Exchange Commission. Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions that could cause our current expectations or beliefs to change. Stockholders and other readers should not place undue reliance on "forward-looking statements," as such statements speak only as of the date of this release. We undertake no obligation to update publicly or revise any forward-looking statements.

Source: Titan Machinery Inc.

ICR, Inc.
John Mills, 310-954-1100
jmills@icrinc.com