Millbrook Capital Management Acquires Hudson Lock

Business Wire, May 15, 1997

MILLBROOK, N.Y.--(BUSINESS WIRE)--May 15, 1997--Millbrook Capital Management Inc. ("MCM") today announced that they have acquired Hudson Lock, Inc. ("Hudson") a wholly-owned subsidiary of Jordan Industries. MCM will acquire Hudson through its affiliated company, Key Components, Inc. Key Components is a manufacturing holding company specializing in niche market industrial componentry. Key Components also owns B.W. Elliott Manufacturing Co. ("Elliott"). Elliott, based in Binghamton, NY, manufactures flexible shaft and valve control products for industrial users and has been in business for over 65 years.

Hudson is a leading designer, manufacturer, and marketer of highly engineered medium-security custom and specialty locks for original equipment manufacturer customers. It is headquartered in Hudson, Massachusetts and has been in business for over 34 years.

MCM, based in Millbrook, NY, is an investment firm owned by John S. Dyson. MCM specializes in the acquisition and management of middle market companies. Until recently, Mr. Dyson served as Deputy Mayor for Finance and Economic Development of New York City. Recent strategic investments include a 6.6% ownership of The Eastern Company (AMEX Symbol: EML), a manufacturer of locks and security hardware.

CONTACT: Millbrook Capital Management Inc.

Clay Lifflander, President

Alan L. Rivera, CFO

212-586-4333