• Option offers one-stop shopping for welding equipment and financing
• Visit MillerWelds.com/financing for details, payment calculator

APPLETON, Wis., November 16, 2003—Responding to the needs of its business customers, Miller Electric Mfg. Co. has introduced its new American Express Business Finance equipment finance program. This equipment financing program makes it easier for customers to lease Miller and Hobart brand welding and plasma cutting equipment, manage their cash flow, expand their welding fleets, as well as acquire newer, more productive technology. Visit MillerWelds.com/financing for details, a payment calculator and FAQs.

The Miller Electric Mfg. Co. equipment financing program offers leases to businesses that present a variety of end-of-lease options, which include returning the equipment to American Express, renewing the contract with new equipment or buying the equipment for either $1 or for 10 percent of the original equipment price. Each of the four end-of-lease options, which need to be determined at lease signing, provides customers with the flexibility to choose the plan that best fits their cash flow needs. For example, customers who prefer a smaller monthly payment could choose to purchase the equipment at lease end for 10 percent of the original equipment price, and those who want to minimize their end-of-lease payment could select the $1 purchase option and make higher monthly payments.

In addition, the equipment financing program provides variable term lengths that can also help customers manage cash flow. For example, if a customer buys equipment priced at $45,000 and selects a 36-month lease with a $1 purchase option, the monthly lease payment would be $1,463.85. However, by extending the term to 60 months with a $1 purchase option, the monthly payment would be $955.80, or more than $500 less.

“Customers who lease equipment do so for a variety of reasons, including convenience and flexibility, cash management, and technological considerations,” says Steve Millage, regional manager for Miller Electric Mfg. Co. “This convenient leasing program offers customers one-stop shopping for equipment and financing from American Express, a trusted brand in financial services. It also helps customers better manage cash flow, expand their welding operations and allows them to update their existing equipment more often.”

To participate, customers must meet American Express’ credit standards, show proof of business purpose (e.g., tax ID number, business checking account, etc.), make a $1,000 minimum purchase and opt for either a 24, 36, 48, or 60 month lease. In addition, a minimum of 50 percent of each customer’s total purchase must be for Miller or Hobart brand equipment.

To begin the quick and easy lease process, customers should contact their local distributor of Miller Electric Mfg. Co. products (to find your nearest distributor, call 1-800-4-A-MILLER or visit MillerWelds.com). You can select your new equipment and complete the financing usually in one visit. Your distributor will complete and submit the simple application. Credit decisions get made quickly, usually within 24 hours. As part of lease acceptance, a down payment consisting of the first and last payments is required.

With headquarters in Appleton, Wis., Miller Electric Mfg. Co. is a leading worldwide manufacturer of Miller and Hobart brand arc welding equipment and related systems for metalworking, construction, maintenance and other applications. Miller Electric Mfg. Co. is a wholly owned subsidiary of Illinois Tool Works Inc. (ITW), Glenview, Ill. ITW is a diversified multinational manufacturer of highly engineered components, assemblies and systems.

American Express Business Finance is a division of OPEN; The Small Business Network(SM) from American Express. To obtain more information about American Express Business Finance, visit www.americanexpress.com/equipmentfinancing