Quixote Acquires 40% Interest In Quantic Industries

Business Wire, April 6, 1995

CHICAGO, IL--(BUSINESS WIRE)--April 6, 1995--Quixote Corporation (Nasdaq:QUIX) announced today that its subsidiary, Energy Absorption Systems, Inc., has acquired a 40% interest in Quantic Industries, Inc. from an affiliate of Charterhouse Group International, Inc. of New York.

Quantic is a leading manufacturer of electronic and pyrotechnic safety devices. Based upon its aerospace and defense expertise, Quantic has developed a low-cost proprietary initiator for automobile supplementary restraint systems, including airbags, for which it is receiving purchase orders. Quantic, a privately-held company headquartered in San Carlos, California, had revenues of over $20 million in 1994 and is profitable. Terms of the transaction were not disclosed.

Initiators, which are electrical/pyrotechnic devices, play an integral role in the initiation of the airbag system by providing heat under pressure to set off the chemical reaction that inflates the airbag. Applications include driver, passenger and side airbags as well as the newly developed seatbelt pretensioners which are commonly used in Europe.

Philip E. Rollhaus, Jr., Quixote's President, commented: "This is an important strategic investment for our Company in that it broadens our focus on driver and passenger safety. In particular, our investment nicely complements the leading position in highway safety already enjoyed by Energy Absorption Systems, Inc. Quantic offers a high quality, proven, low cost product which should enable it to become a leader in the initiator market. We see additional exciting opportunities to share technologies with benefits to highway safety."

The Company noted that it may increase its ownership in Quantic should the opportunity arise.

Quixote Corporation is a diversified technology company composed of Disc Manufacturing, Inc., the largest independent manufacturer of music compact discs (CDs) and CD-ROM and CD-i discs in the United States; Energy Absorption Systems, Inc., the world's leading manufacturer and marketer of energy- absorbing highway crash cushions and related highway safety products; and Legal Technologies, Inc., a leading designer and supplier of advanced technologies and services for the legal, judicial and court reporting markets.

CONTACT: Quixote Corporation

Joan R. Riley, Daniel P. Gorey

312/467-6755

or

Morgen-Walke Associates

June Filingeri, Robert Weiner

Media Contact: Brian Maddox

212/850-5600