Hawk Announces Acquisition of Tex Racing Enterprises, Inc.

1 November 2000

Hawk Announces Acquisition of Tex Racing Enterprises, Inc.
      Expands Position in Motorsports and Performance Automotive Markets

    CLEVELAND, Nov. 1 Hawk Corporation announced
today that it has acquired Tex Racing Enterprises, Inc., a leading
manufacturer of premium branded drive train components for motorsports and
performance automotive markets.  The products are used by leading teams in the
NASCAR racing series, as well as for high-performance street vehicles, and
other road race and oval track competition cars.
    Tex Racing, located in Ether, North Carolina, was founded in 1975.  The
company had 1999 sales of $7.9 million.  William "Tex" Powell will continue as
president of Tex Racing under Hawk's ownership.
    "The acquisition of Tex Racing reflects another expansion of our
motorsport and automotive performance business," said Ronald E. Weinberg, Hawk
Corporation Co-Chairman and Co-CEO.  "The acquisition of Tex Racing
complements the businesses that form the Hawk Performance Group, headed up by
Rob Nelson, which also includes Quarter Master, a manufacturer of premium
clutch assemblies for racing cars, and Hawk Brake, which provides high
durability brakes for racing and other markets.  Under Rob's leadership, the
performance group provides us with a platform to broaden our customer base and
offer new products in the high-performance automotive markets."
    Terms of the transaction were not disclosed.  Hawk will finance the
transaction with available cash.
    Hawk Corporation is a leading worldwide supplier of friction products for
brakes, clutches and transmissions used in airplanes, trucks, construction
equipment, farm equipment and recreational vehicles.  Hawk also is a leading
supplier of powder metal components for industrial applications, including
pump, motor and transmission elements; gears; pistons; and anti-lock brake
sensor rings.  The Company designs and manufactures die-cast aluminum rotors
for small electric motors used in appliances, business equipment and exhaust
fans; and clutch assemblies for the high performance racing markets.
Headquartered in Cleveland, Ohio, the Company has 1,600 employees and 13
manufacturing sites in four countries.
    This press release includes forward-looking statements that involve risks
and uncertainties.  Actual results and events may differ significantly from
those projected in the forward-looking statements.  These statements are
subject to a variety of uncertainties, unknown risk and other factors
concerning the Company's operations and business environment, including, but
are not limited to:  changes in end markets served by the Company; the effects
of competition by manufacturers using new or different technologies; and the
continuity of business relationships with major customers.  There is no
assurance that Hawk will be able to successfully integrate Tex Racing
Enterprises, Inc. into its existing business, or that Tex Racing Enterprises,
Inc. will achieve results comparable to Hawk's existing businesses.
    Hawk Corporation financial results and news releases are available on-line
at: http://www.hawkcorp.com .

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