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Caterpillar CEO Tells BLOOMBERG TV: Expects Strong Year in 2005

New York (ots/PRNewswire)

- Exclusive Interview to Air on BLOOMBERG TV Tomorrow, Saturday,
March 19
In a U.S. exclusive interview on BLOOMBERG TELEVISION(R), James
Owens, Chief Executive Officer of Caterpillar Inc., stated that he
expects a strong year in 2005 with profits likely rising about 25
percent. Mr. Owens also told BLOOMBERG TELEVISION that higher energy
prices will help to spur new investment for natural resources,
bolstering demand for Caterpillar's products.
"Fewer bottlenecks in manufacturing will allow us to improve our
margins," Mr. Owens told Allan Dodds Frank of BLOOMBERG TELEVISION.
He revealed on BLOOMBERG TELEVISION that he expects Peoria,
Illinois-based Caterpillar to post another record year after earnings
rose 85 percent to US$2.04 billion on a 33 percent revenue increase
to US$30.3 billion in 2004.
Shipments by Caterpillar, the world's largest maker of mining and
earthmoving equipment, climbed 50 percent last year as surging
commodity prices boosted demand from the mining and trucking
industries. Demand was "unprecedented," Mr. Owens told BLOOMBERG
TELEVISION, with simultaneous increases in the mining, on-highway
truck, oil and gas, coal and housing industries. Growth was strongest
in Asia, South America and North America, he said.
"US$60 a gallon oil prices are good for Caterpillar and it's not
problematic for the world economy," Mr. Owens told BLOOMBERG
TELEVISION. As standards of living increase in developing countries,
there will be a gradual increase in the price of energy, he said.
The entire U.S. television interview can be seen starting at
6:30am (EST) Saturday, March 19th on BLOOMBERG TELEVISION worldwide.
It can also be viewed by Bloomberg subscribers via the BLOOMBERG
TERMINAL.
About Bloomberg
Bloomberg is the leading global provider of data, news and
analytics. The BLOOMBERG TERMINAL(TM) and Bloomberg's media services
provide real-time and archived financial and market data, pricing,
trading, news and communications tools in a single, integrated
package to corporations, news organizations, financial and legal
professionals and individuals around the world. Bloomberg's media
services include BLOOMBERG NEWS(R), the global news service that
includes more than 1,600 journalists in 103 bureaus worldwide;
BLOOMBERG TELEVISION(R), the 24-hour business and financial network
produced and distributed worldwide on 10 separate channels in seven
languages; and BLOOMBERG RADIO(SM), which provides up-to-the-minute
news on XM, Sirius and WorldSpace satellite radio around the world
and on WBBR 1130AM in New York. In addition, Bloomberg Magazine Group
and Bloomberg Press publish magazines and books for investment
professionals. For more information please visit
http://www.bloomberg.com .
Web site: http://www.bloomberg.com

Contact:

Elizabeth Patella of Sloane & Company, +1-212-446-1870,
epatella@sloanepr.com, for Bloomberg

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