NEWS RELEASE

                                                                        CONTACT:
                                                                Robert R. Friedl
                            Vice President - Finance and Chief Financial Officer
                                                   Columbus McKinnon Corporation
                                                                    716-689-5479


                 COLUMBUS MCKINNON ADJUSTS ACCOUNTING TREATMENT
                          ON HEADQUARTERS PROPERTY SALE


AMHERST,  N.Y., February 16, 2005--Columbus  McKinnon Corporation (NASDAQ: CMCO)
issued a press  release on February 1, 2005  reporting the January 28, 2005 sale
and partial leaseback of its headquarters  property in Amherst,  New York, which
it is  amending  based  on  further  clarification  of the  required  accounting
treatment of leaseback components of the transaction.  In that release, Columbus
McKinnon  stated  that it would  realize  a gain  from the  transaction  of $2.7
million, or $0.18 per share in the fourth quarter of fiscal 2005 ending on March
31, 2005.

The economic benefit of the transaction remains the same, and cash proceeds from
the sale are $2.7 million, as previously reported.

The required accounting  treatment of the leaseback component of the transaction
defers a portion of the gain, and the non-cash consideration received is removed
from the gain.

As a result,  the gain on the transaction  will be recorded as $2.2 million,  or
$0.5 million less than previously reported.  Of the total gain, $1.0 million, or
$0.07 per share, will be recognized in the fourth quarter ending March 31, 2005,
and $1.2  million  will be deferred  and  recognized  as income over the 10-year
leaseback  period.  Additionally,  the $0.5  million of  non-cash  value will be
recognized as lower operating expenses over the 10-year leaseback period.

Separately,  on January 14, 2005,  Columbus  McKinnon had announced  that it had
completed the sale of a Chicago area property for $3.675 million.  The favorable
effect to net income in the fourth  quarter of fiscal  2005  ending on March 31,
2005 for this transaction will be as previously reported $2.65 million, or $0.18
per  diluted  share.  Total net income  effect in the fourth  quarter  2005 as a
result of the  gains  made on the two  property  sales is  expected  to be $3.65
million,  or $0.25 per share.  Total cash proceeds received from the sale of the
two properties was $6.38 million,  and the Company intends to use these proceeds
to reduce debt.


ABOUT COLUMBUS MCKINNON
-----------------------
Columbus McKinnon is a leading  worldwide  designer and manufacturer of material
handling  products,  systems and services,  which  efficiently and ergonomically
move, lift,  position or secure material.  Key products include hoists,  cranes,
chain  and  forged  attachments.  The  Company  is  focused  on  commercial  and
industrial  applications  that  require the safety and  quality  provided by its
superior design and engineering know-how.  Comprehensive information on Columbus
McKinnon is available on its web site at HTTP://WWW.CMWORKS.COM.




                                       1




SAFE HARBOR STATEMENT
This press release contains  "forward-looking  statements" within the meaning of
the Private Securities  Litigation Reform Act of 1995. Such statements  include,
but are not limited to, statements  concerning future revenue and earnings,  and
involve  known and unknown  risks,  uncertainties  and other  factors that could
cause the actual  results of the Company to differ  materially  from the results
expressed  or  implied  by such  statements,  including  changes  in  accounting
regulations and other factors disclosed in the Company's  periodic reports filed
with the Securities and Exchange  Commission.  The Company assumes no obligation
to update the forward-looking information contained in this release.





















































                                       2