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Kennametal Renews Partnership With Three-Time Racing Champion Target-Ganassi Team

3 May 1999

Kennametal Renews Partnership With Three-Time Racing Champion Target-Ganassi Team

 Metalcutting Leader Also Begins NASCAR Partnership With Dale Earnhardt Inc.

    LATROBE, Pa., May 3 -- Kennametal Inc. today
announced the renewal of its metalcutting technology partnership with the
Target-Ganassi racing team, winner of the last three consecutive CART/FedEx
Series Championships.  Kennametal began its relationship with the
Target-Ganassi racing team four years ago.
    The company also announced the start of a similar technology partnership
with Dale Earnhardt Inc. in the NASCAR Winston Cup series.  The sponsorship
covers the Pennzoil car driven by Steve Park for the full 1999 season and the
Budweiser car driven by Dale Earnhardt, Jr. for five Cup races this season and
the entire season next year.
    "We are extremely pleased with these technology partnerships," said A
David Tilstone, Kennametal vice president and director, global marketing and
sales.  "These programs are consistent with Kennametal's focus in the
automotive industry, one of our largest markets.  We are a leading supplier of
tooling, tooling systems, industrial supplies and technologically advanced
application solutions to automotive manufacturers and their direct suppliers.
Partnering with winning teams such as Target-Ganassi in CART and Dale
Earnhardt Inc. in NASCAR keeps the Kennametal brand prominent with one of our
most important customer audiences and provides these racing leaders with the
best machining expertise available."
    Kennametal, a global leader in metalworking tooling and supplies for more
than 60 years, provides tooling and technical expertise to the racing teams'
workshops.  Kennametal tooling is used throughout the automotive industry to
machine a variety of high-performance parts and components, such as engine
blocks, heads, pistons, crankshafts, drive train components, gear boxes and
components, suspension parts, exhaust systems and components, brake drums,
rotors and wheels.  The company's advanced tooling systems are used in
turning, milling and holemaking operations to machine cast irons, steels,
stainless steels and aluminum, as well as more exotic metals and alloys,
including titanium, magnesium and Inconel.
    The Target-Ganassi team has already earned two victories this season.  The
team's triple-champion CART cars are powered by Honda engines and are driven
by Jimmy Vasser and Juan Pablo Montoya.  The Dale Earnhardt Inc. team races
NASCAR model Chevrolet Monte Carlos.
    Kennametal is a vertically integrated manufacturer and marketer of a
comprehensive offering of consumable tools, tooling systems and related
supplies for the metalworking, mining and highway construction industries, and
wear-resistant parts for a wide range of industries.  With headquarters in
Latrobe, Pa., Kennametal has 14,000 employees worldwide and annual sales of
approximately $2 billion.