JPE, Inc. Agrees to Sell Plastic Trim, Inc.

AUBURN HILLS, Mich., May 15, 2003 -- JPE, Inc. (BULLETIN BOARD: JPEI) today announced that it has entered into an agreement to sell the assets of Plastic Trim, Inc., its wholly-owned subsidiary, to PTI Acquisition, LLC. The transaction, which is subject to customary conditions, is expected to close within one month. W.Y. Campbell & Company served as JPE's investment banker and conducted the sales process.

JPE, Inc., through Plastic Trim, Inc., manufactures automotive components for the original equipment manufacturers (OEMs) principally in North America. Operations are located in Beaver Creek, Ohio and East Tawas, Michigan.

PTI Acquisition, LLC has been formed by C. William Mercurio, John A. Keighley and Otto A. DePaulis ("Members") to purchase the assets of Plastic Trim, Inc. The Members were shareholders in Plastic Trim, Inc. prior to its sale to JPE, Inc. in 1995.

Caution Concerning Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements include, without limitation, statements concerning the expected timing and conditions to closing of the transaction. While these forward- looking statements represent our judgments and future expectations concerning the timing and consummation of the transaction, a number of risks, uncertainties and other important factors including availability of financing and satisfaction of closing conditions could cause actual developments and results to differ materially from our expectations. Neither JPE, Inc. or PTI Acquisition, LLC is under any obligation to (and expressly disclaims any such obligations to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.