GOOD NEWS-Cincinnati Machine Announces Plans to Renovate Its Cincinnati Manufacturing Facility

    CINCINNATI--April 27, 2001--Cincinnati Machine, a global leader in advanced machine tools and related services, announced this week the sale of two office buildings and surrounding property at its Cincinnati campus.
    At the same time, the company revealed plans to reinvest $2.8 million of the sale proceeds for renovations to the 55-acre facility it will continue to occupy. The buildings that were sold had previously served as headquarters for Cincinnati Milacron and were largely underutilized after the sale of the Machine Tool Group to UNOVA in 1998.
    The renovations to office space will accommodate 300 employees in engineering, administration and executive departments. The sale and renovations will save Cincinnati Machine $1.4 million in operating expenses annually.
    In addition to reduced operating costs, the move will enhance the company's day-to-day efficiency. Cincinnati Machine President Kyle Seymour said, "The move will ensure that departments with closely related functions or activities, or which share resources, will be located in offices near each other for more cost-effective and streamlined operation."
    Cincinnati Machine is a leading global manufacturer and supplier of CNC machine tools, such as turning centers, vertical machining centers, horizontal machining centers/cells, 5-axis machining centers, universal machining centers, profilers, routers and composites processing equipment. Industries served include aerospace, heavy equipment, fluid power, and automotive, as well as small job shops.
    For more information about Cincinnati Machine renovations, call 1-877-CINMACH (246-6224), fax us at 513-752-9800 or visit our website, www.CinMach.com.