Transportation Resource Partners and GS Capital Partners Agree to Acquire Autocam

KENTWOOD, Mich.--May 4, 2004--Autocam Corporation announced today that an entity formed by a group of investors including Transportation Resource Partners, LP, GS Capital Partners 2000, L.P. and John Kennedy, CEO of Autocam, has signed a definitive agreement to acquire the Company for $390 million from Aurora Capital Group. The transaction is subject to customary closing conditions, including completion of financing arrangements, and is expected to close by the end of the second quarter.

Autocam Corporation, headquartered in Kentwood, Michigan, is a leading designer and high volume manufacturer of close tolerance, metal components and assemblies, primarily for performance and safety critical automotive applications. The Company has operations and manufacturing facilities in North America, France, Brazil and China.

Since 2000, the Company has grown revenues from $205 million to $323 million in 2003. Autocam's senior management team will remain in place and the Company will continue to operate out of its Kentwood, Michigan headquarters.

John Kennedy said, "My management team and I are excited about our new partners. We selected them because we believe Transportation Resource Partners/Penske Corporation can help us to continue to grow our business because of their relationships with existing and target customers. Transportation Resource Partners and Goldman Sachs believe in our strategy and are willing to provide the resources to support our growth."

Roger Penske, CEO of Penske Corporation, a lead investment partner in Transportation Resource Partners, said, "We have known John Kennedy and Autocam Corporation for years. Autocam has an outstanding reputation as a first rate manufacturer of critical performance and safety related parts and systems. As partners, we see opportunities to support John and his team at Autocam as it pursues its next phase of growth."

Adrian Jones, Managing Director at Goldman Sachs, said, "Autocam has become the recognized market leader in several segments of the automotive precision parts industry. GS Capital Partners' investment in Autocam is consistent with our strategy of investing in market-leading companies with outstanding management teams and supporting their continued growth."

Transportation Resource Partners, LP is a $265 million private equity fund that makes leveraged investments in growth-oriented companies operating in the Transportation and Transportation Services Industry. TRP's philosophy is to identify attractive investment situations where it can work in partnership with management to support growth. TRP's principals have extensive operating and investing experience in the Transportation Industry. TRP focuses on businesses having enterprise values of up to $500 million. TRP, along with its predecessor fund, Penske Capital Partners, has been responsible for managing over $600 million of equity capital. Current investors in TRP include both strategic and financial institutions.

Goldman Sachs is a global leader in corporate equity and mezzanine investing. To date, Goldman Sachs has formed ten investment vehicles aggregating over $17 billion of capital. With $5.25 billion in committed capital, GS Capital Partners 2000 is the current primary investment vehicle for Goldman Sachs to make privately negotiated equity investments. GS Capital Partners 2000 seeks long-term capital appreciation by committing equity to high-quality companies with superior management in a variety of situations, including leveraged buyouts, recapitalizations, and growth investments to fund acquisition or expansion. The Fund invests across a broad range of industries and creates value through meaningful involvement with portfolio companies' strategic decision-making and operating philosophy. For more information, please visit www.gs.com/pia.