Owosso Corporation Announces Move to Nasdaq SmallCap Market

    KING OF PRUSSIA, Pa., March 7 Owosso Corporation today announced that it was informed by The
Nasdaq Stock Market, Inc. that trading of its shares will be moved from the
Nasdaq National Market to the Nasdaq SmallCap Market effective with the open
of business on March 8, 2001.  Owosso's common stock will continue trading
under its current symbol - OWOS.  Daily trading volume and closing price will
continue to be available on the same basis as previously available from online
services, financial newspapers and general circulation newspapers.
    As the market value of Owosso's public float (i.e. shares held by
nonaffiliates) has fallen below $5,000,000, which is the minimum level
required in order to remain on the Nasdaq National Market, Owosso elected to
apply for listing of its common stock on the Nasdaq SmallCap Market in order
to ensure the continuity of its Nasdaq listing and to protect the interests of
Owosso's shareholders.
    Owosso manufactures engineered component products, specifically motors and
heat exchange coils. Owosso has manufacturing facilities in five states and in
the United Kingdom and its products are sold throughout North America and in
Europe.
    To receive additional information on Owosso Corporation, call Owosso's
toll-free investor services line at 1-888-OWOS-010, or visit Owosso's website,
http://www.owosso.com.