Williams Controls to Pursue Sale of the Company

    PORTLAND, Ore., Feb. 22 The board of directors of Williams
Controls, Inc. announced today that, based on the review of
strategic alternatives by the company's investment banker, it will immediately
pursue a sale of the company or its individual operating subsidiaries as a
means to maximize value to its shareholders.

    Williams Controls' investment banker, W.Y. Campbell & Company (WYC&C)
recommended this course of action based on its analysis of the company, which
began in mid-January when Williams announced the hiring of WYC&C to review
strategic alternatives for the company.  WYC&C is a leading international
specialty investment banking firm concentrating on middle market merger and
divestiture activity principally in the automotive and truck supplier markets.

    Commenting on this new development, Williams Controls president and chief
executive officer Thomas K. Ziegler stated, "While other alternatives were
considered, management and the board agreed with our investment banker that
the best way to maximize value for our shareholders is to pursue a sale of the
company, either as one entity or by selling the individual operating
companies.  W.Y. Campbell & Company has had a number of indications of
interest from potential buyers in the five weeks since they were engaged by
the company, and now that the alternatives have been considered and the
decision to sell the company has been reviewed and approved by our board, we
expect that W.Y. Campbell & Company will pursue these potential buyers on an
aggressive timetable."

    Mr. Ziegler continued, "We believe that our remaining businesses,
primarily the Portland heavy truck operation and our Florida sensor business
and automotive electronic throttle control (ETC) business, can be very
attractive properties for the right strategic buyers at prices which we
believe are not reflected in the company's current stock price.  We expect
that WYC&C will now focus its efforts with a number of potential acquirers
that will recognize the value in Williams' businesses and the investments that
the company has made to develop its markets and products, and whose product
line and market position will benefit most from a combination with the
dominant market share position that Williams has established in its primary
markets.  We believe that this course of action will result in maximum value
for our shareholders."

    The company also announced that it has reached an agreement with its
primary bank to provide for continued funding of the company's operations as
Williams Controls proceeds through the process of selling the company's
individual operating subsidiaries.

    Commenting on the bank agreement, Mr. Ziegler stated, "We are very pleased
that our lender has recognized the important role it is playing as Williams
Controls seeks to maximize value to its shareholders through the sale of the
company.  This agreement should provide us with the continued working capital
to fund our operations as we now begin the sale process and will provide
financial stability to the organization as we seek to get the most for our
shareholders."