Drew Industries Purchases Specialty Trailer Components Maker ET&T Frames, Inc.

WHITE PLAINS, N.Y., Oct. 7, 2003 -- Drew Industries Incorporated today announced that its wholly owned subsidiary, Lippert Components, Inc., has acquired certain business and assets of Elkhart, Ind.-based ET&T Frames, Inc.

ET&T Frames manufactures chassis primarily for specialty trailer units, consisting of park models, office units, cargo trailers and, to a lesser extent, chassis for towable recreational vehicles. This acquisition represents a significant expansion of Drew's chassis manufacturing business into specialty chassis.

Drew, a White Plains, N.Y.-based manufacturer of components for recreational vehicles and manufactured homes, reported that the $3.6 million purchase price includes the inventory, accounts receivable and certain fixed assets of ET&T. Lippert Components is not purchasing the ET&T factory. ET&T's business will be integrated into Lippert's existing factories. The former owner of ET&T and his management team will not be employed by Lippert. The Company said this acquisition was financed with available cash, and Drew still has no borrowings under its $30 million line of credit.

ET&T generated revenues of approximately $7.0 million for its last fiscal year. Drew said it expects the acquisition to be accretive to earnings, since Lippert will manufacture the new products in its existing, highly efficient factories without adding significant equipment or new supervisory personnel.

Jason Lippert, president and CEO of Lippert, said: "This acquisition continues our expansion into new product distribution channels with high quality products that we know how to produce efficiently. We hope to expand these new product categories as we have done with most of our other product lines."

Leigh J. Abrams, president and CEO of Drew, continued: "We are excited about the opportunity to use our strong balance sheet and management talent to continue the expansion of our business on an accretive basis, while also presenting the Company with the opportunity to realize even greater growth and profitability in the future."

About Drew Industries

Drew, through its wholly-owned subsidiaries, Kinro, Inc. and Lippert Components, Inc., supplies a broad array of components for RVs and manufactured homes. Manufactured products include aluminum and vinyl windows and screens, doors, chassis, chassis parts, chassis slide-out systems, and bath and shower units. From 40 factories located throughout the United States and one factory in Canada, Drew serves most major national manufacturers of RVs and manufactured homes in an efficient and cost-effective manner. Additional information about Drew and its products can be found at www.drewindustries.com .