Motor Coach Industries Emerges from Chapter 11

Company Completes Restructuring in Seven Months, Secures $230 Million in Exit
Financing
SCHAUMBURG, ILL--(Business Wire)--
Motor Coach Industries ("MCI" or "the Company") announced that on Friday, April
17, the Company emerged from its voluntary Chapter 11 reorganization. The United
States Bankruptcy Court for the District of Delaware confirmed the Second
Amended Joint Plan of Reorganization for MCI and certain of its affiliated
companies on January 28, 2009.

"The completion of our financial restructuring is a major milestone in the
76-year history of MCI," said Tom Sorrells, President and CEO. "I am
particularly pleased that, given a very challenging economic backdrop and the
tight credit markets, we were able to complete the process in just seven months.
This is a testament to the strong reputation and presence of our Company in the
industry and the unyielding commitment of Franklin Mutual Advisers, LLC, our new
majority shareholder, through the final negotiations."

"This achievement also reflects the dedication of all MCI employees who
continued their focus on delivering quality coaches and customer service during
this period. We are also extremely appreciative of the outstanding support we
received from our lenders and legal and financial advisors in this process,"
said Sorrells. "Finally, I want to especially recognize MCI`s customers and
suppliers, whose loyalty and support throughout were critical components of this
successful result. We look forward to building on our reputation for innovation
and continuing as the leader in the motor coach industry."

Certain investment funds managed by Franklin Mutual Advisers, LLC (collectively
"FMA"), a recognized and established global investment management firm, have
become the Company`s majority shareholders through the conversion of third lien
secured debt into common stock and the issuance of $200 million in new preferred
stock. In conjunction with its emergence from Chapter 11, MCI has obtained $230
million of exit financing and consummated its pre-negotiated plan. GE Capital is
the arranger and lead lender under a $75 million senior secured revolving credit
facility. The Company has also arranged for a $155 million second lien term loan
from a group of lenders.

"The decision to further invest in MCI and its future is based on a recognition
and respect of its leading position in the strategic transportation sector and
its commitment to building customer relationships, providing consistent quality
and innovation, and working with integrity, all values we share," said Shawn
Tumulty, Vice President and Portfolio Manager for FMA. "We are familiar with MCI
and its operations as an investor over the last five years and look forward to
the opportunity to work with MCI`s executive leadership in developing a renewed
strategy for growth and success."

"We have secured a strong new financing package, the terms of which were
improved as a result of FMA agreeing to enhance the Company`s post-emergence
capital structure," added Mr. Sorrells. "With a strengthened financial base, we
are well positioned to take greater advantage of market opportunities and
further grow our business."

The Company was advised by Rothschild Inc., AlixPartners LLP and Simpson Thacher
& Bartlett LLP. FMA was advised by Sills Cummis & Gross P.C. and Houlihan Lokey
Howard & Zukin Capital, Inc.

Franklin Mutual Advisers, LLC, is a subsidiary of Franklin Resources, Inc.
(NYSE: BEN), a global investment management organization based in San Mateo, CA,
with over $391 billion in assets under management as of March 31, 2009.

Motor Coach Industries, headquartered in Schaumburg, Illinois, is the leading
manufacturer of intercity coaches for the tour, charter, line-haul, scheduled
service, and commuter transit sectors in the U.S. and Canada. The Company also
operates seven sales centers and eight service centers in the U.S. and Canada
and is the industry's leading supplier of aftermarket parts for most makes and
models.

MWW Group:
Mr. Rich Tauberman, 202-585-2282
rtauberman@mww.com
or
Ms. Susan Kenney, 201-964-2392
skenney@mww.com

Copyright Business Wire 2009