Precision Partners Inc. Announces the Resignation of Certain Officers and the Appointment of a New Chairman of the Board of Directors

Business Wire, April 26, 2000

Business Editors

DALLAS--(BUSINESS WIRE)--April 26, 2000

Precision Partners Inc. ("Precision Partners") today announced that Dr. James Ashton will be resigning as chairman and chief executive officer of Precision Partners to pursue other interests.

Ashton has been an integral part of Precision Partners since its inception and has been a key factor in directing Precision Partners to its current status as a leading contract manufacturer of precision machined parts, tooling and assemblies. Ashton will continue to serve as CEO of Precision Partners until his successor is named. Precision Partners also announced that Ronald Miller and Mel Johnson will be resigning as CFO and VP of Operations, respectively. Both will remain with Precision Partners and serve in their current positions until successors are named.

Effective immediately, Robert Womack has been named chairman of Precision Partners. Womack recently retired as chairman and CEO of US Industries Bath and Plumbing Products, a $1.3 billion diversified manufacturer of plumbing, bath and HVAC products sold under such brands as Jacuzzi, Eljer, Zurn, US Brass and Selkirk. Prior to US Industries, Womack was the chairman and CEO of Zurn Industries, a $800 million diversified manufacturing and engineering construction company serving the non-residential construction and power generation industries. Overall, Womack has over 40 years of manufacturing experience and will be a strong addition to Precision Partners.

Womack emphasized, "We are strongly committed to the original business concept of Precision Partners and I am pleased to have the opportunity to contribute to the growth of the company."

Precision Partners is a leading contract mechanical manufacturing services supplier of complex precision metal parts, tooling and assemblies for original equipment manufacturers. The broad manufacturing capabilities and highly engineered processes of Precision Partners allows it to meet the critical specifications of its customers across a wide range of industries. Precision Partners has earned "preferred" or "qualified" supplier status with most of its customers and is predominately the sole source supplier of the parts it manufactures for its customers.

Except for historical information contained herein, this release contains certain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. A number of factors, including those identified below, could adversely affect the company's ability to obtain these results: the company's ability to attract new business, the company's ability to acquire adequate raw materials and to obtain favorable pricing for such materials, pricing pressures for the company's products and services, increased competition in the precision machining and OEM markets, the ability to consummate suitable acquisitions, the continuing ability to effectively integrate acquisitions, economic factors which affect the manufacturing industry and changes in government regulations. Certain of these risks are or will be described in the company's Financial Results and Analysis for the Years Ended Dec. 31, 1999 and 1998. Copies of this report may be obtained upon request from the company, or you can access the financial results via the World Wide Web at www.precisionpartnersinc.com.

Precision Partners does not have publicly held equity registered under the Securities Exchange Act of 1934, as amended. However, Precision Partners recently completed its initial filing to register the $100,000,000 12% Senior Subordinated Notes due 2009 under the Securities Act of 1933, as amended. This press release should not be construed as an offer to sell, or the solicitation of an offer to buy any of the company's securities. Furthermore, the company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

For further information, contact Ron Miller, Chief Financial Officer, at 972/580-1550.