Coltec Names Thomas B. Jones, Jr., Vice President and Treasurer

Business Wire, August 8, 1997

CHARLOTTE, N.C.--(BUSINESS WIRE)--Aug. 8, 1997--Coltec Industries (NYSE:COT) has named Thomas B. Jones, Jr., vice president and treasurer.

Mr. Jones, 45, who reports to David D. Harrison, executive vice president and chief financial officer, joined Coltec in 1996 as assistant treasurer and was named treasurer in January 1997. Mr. Harrison said, "Tom Jones has made considerable contributions to Coltec Industries, particularly in the leadership role he provided in restructuring Coltec's debt at significantly more favorable rates. I expect that his contributions will continue to expand as Coltec Industries pursues the Coltec 2000 initiative."

Prior to joining Coltec, Mr. Jones held increasingly responsible financial management positions with Clark Equipment company in South Bend, Indiana. He started as a staff analyst and was named assistant treasurer in 1993. Earlier in his career, he was a management trainee with Western Electric Company. Mr. Jones was awarded a bachelor of business administration degree by the University of Georgia in 1977 and a master of business administration degree in 1979 by the University of Chicago.

Coltec Industries is a diversified manufacturing company serving primarily aerospace and general industrial markets.

CONTACT: Coltec Industries

Michael Dunn, 704/423-7060