TriMas Corporation Building $18 Million Facility in Hackettstown, N.J. To Accommodate Compac Corporation's Manufacturing Operations

NETCONG, N.J., June 12 -- TriMas Corporation announced today it is investing $18 million to build a manufacturing facility in Hackettstown, N.J. The company will move its Compac Corporation operations from Edison and Netcong, N.J. into the new location, which is targeted for completion by the fourth quarter of 2004.

"This state-of-the-art facility represents a commitment to our existing business and positions us for future growth," said Edward Schwartz, group president, TriMas Industrial Specialties Group. "It will enable us to reduce operating costs and continue providing our customers with competitively priced, world-class products."

The 182,000-square-foot plant will feature lean manufacturing processes, upgraded equipment, increased efficiencies and improved amenities compared to existing operations. This includes automated machinery, a larger research and development center for new product development, state-of-the-art quality control center, more loading docks, highway access and a training room for continued education and employee development.

The 120,000-square-foot Edison facility currently employs 61 people and is expected to cease operations by the end of July 2004. The pressure sensitive tape facility manufactures double coated and transfer tapes, as well as metal foil tapes, for the automotive, aerospace, appliance, construction and fabrication markets.

The 101,000-square-foot Netcong facility, which has 95 employees, is expected to complete its relocation by October 2004. The Netcong operation specializes in the manufacture of vapor barrier facings/jacketings for duct wrap, duct board and pipe coverings. These products are used worldwide by insulation manufacturers in construction sites and HVAC installations.

Most employees affected by this move will relocate to the new facility, Schwartz said, noting that the company has notified the workforce, community leaders, customers and suppliers about its plans.

"Although it will be several months before we start transferring operations, we've decided to have our career/life transition programs start now," said Carl Allieri, president of Compac Corporation. "Representatives will be working with city, county and state services in a coordinated effort to assist during the transition."

Netcong, N.J.-based Compac Corporation, which is part of TriMas' Industrial Specialties Group, is North America's leading manufacturer of flame retardant vapor retarders and pressure sensitive tapes. Compac has remained the industry leader from its inception, with revolutionary products using both flame retardant and pressure sensitive adhesive technology.

Headquartered in Bloomfield Hills, Mich., TriMas is a diversified growth company of high-end, specialty niche businesses manufacturing a variety of products for commercial, industrial and consumer markets worldwide. TriMas is organized into four strategic business groups: Cequent Transportation Accessories, Rieke Packaging Systems, Fastening Systems and Industrial Specialties. TriMas has nearly 5,000 employees at 80 different facilities in 10 countries. For more information, visit www.trimascorp.com .

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including but not limited to general economic conditions in the markets in which TriMas operates, technological developments, TriMas' dependence on key individuals and relationships, labor costs and strikes at TriMas or TriMas' customer facilities, exposure to product liability and warranty claims, increases in raw material and energy costs, compliance with environmental and other regulations, competition, the substantial leverage of TriMas and its subsidiaries, limitations imposed by the company's debt facilities and risks and charges attendant to the integration of business acquired by TriMas and TriMas' acquisition strategy.