Miller Industries, Inc. Announces Commitments for New Loan Facility

    CHATTANOOGA, Tenn., May 21 Miller Industries, Inc.
announced today that it has received a commitment from Bank of
America N. A. and The CIT Group/Business Credit, Inc. for an underwritten
syndication of a $110 million senior secured revolving credit facility and an
$8 million term loan.  Additionally, the Company received a commitment from
its existing lenders for a junior credit facility of up to $14 million.  These
credit facilities would replace the Company's current credit facility with its
existing lenders.  These commitments are pursuant to commitment letters the
Company has signed with the banks and are subject to the terms and conditions
set forth in the commitment letters.  The Company expects to have a closing of
this transaction in the month of July.
    The proposed new senior facility has a four-year term and would bear
interest at the rate of LIBOR plus 2.25% on the revolving portion and LIBOR
plus 2.50% on the term portion of the facility. These rates reflect reductions
of 2.50% and 5.50%, respectively, from the rates on the current facility.
    J. Vincent Mish, CFO of Miller Industries, stated, "The amount of bank
debt outstanding at fiscal 2001 year-end was $100 million, which represents a
$26 million reduction over the past fiscal year.  In addition, the Company
paid over $15 million of interest and fees associated with the existing bank
facility during fiscal 2001."
    Jeffrey I. Badgley, President and CEO, said, "We are very pleased to enter
into this agreement with Bank of America and CIT.  This new facility should
provide for the Company's funding requirements for the next four years.  We
anticipate the Company will save several million dollars per year in its
financing costs."
    The finalization of the new credit facility is subject to various terms
and conditions, including the negotiation of definitive documentation, the
absence of material adverse changes in the general economy or the Company's
business, and the final approval of the Company's Board of Directors.  As is
typical in commitments subject to conditions, there is no assurance that the
credit facility will be finalized and the funds drawn.
    Miller Industries is the world's leading integrated provider of vehicle
towing and recovery equipment and services.  The Company markets its towing
services under the national brand name RoadOne(R) and its towing equipment
under a number of well-recognized brands.
    Except for historical information contained herein, the matters set forth
in this news release are forward-looking statements.  The Company noted that
forward-looking statements set forth above involve a number of risks and
uncertainties that could cause actual results to differ materially from any
such statement, including the risks and uncertainties discussed under the
caption "Risk Factors" in the Company's Form 10-K for fiscal 2000, which
discussion is incorporated herein by this reference.