Brown & Sharpe Announces Stockholder Meeting Date

    NORTH KINGSTOWN, R.I.--April 3, 2001--Brown & Sharpe Manufacturing Company announced today that its Proxy Statement, dated March 30, 2001, was mailed out on Friday, March 30, to stockholders of record as of March 21, 2001. The Special Meeting will be held at the Company's executive offices at 9:30 a.m. on April 27, 2001 to consider and vote on a proposal for the sale of substantially all of the Company's assets, including the sale of its Metrology Business to Hexagon AB, the sale of its North Kingstown, Rhode Island facility to Precision Park Partners LLC, and the proposed cash distributions to stockholders following each of these sales and to consider and vote on other related matters, all as set forth in such Proxy Statement.
    The Closing with Hexagon is scheduled for later in the day on April 27, 2001. The first of the proposed cash distributions to shareholders will be made as soon as practicable in May, after the Closing with Hexagon.