UNOVA Reduces Borrowing Needs

    WOODLAND HILLS, Calif.--May 9, 2001--UNOVA Inc. today announced it has voluntarily reduced the commitment level under its credit facility to $300 million.
    The successful action allows UNOVA to avoid certain costs under the terms of its bank debt agreement.
    "Better-than-expected operating cash flows have enabled us to reduce our debt commitment levels," said Michael E. Keane, chief financial officer. "Even after the reduction, the Company will have aggregate cash and additional borrowing availability in excess of $100 million."
    "This important step is another example of continued progress in UNOVA's business recovery," Keane said.
    UNOVA is a leading supplier of mobile computing and wireless network products for non-office applications and of manufacturing systems technologies primarily for the automotive and aerospace industries.