Ewing Management Group Led Team Announces Agreement to Buy Remaining Stock of Key Automotive Group of Companies

DALLAS--July 28, 2004--B. Edward Ewing, Chairman and CEO of the Ewing Management Group (EMG), announced today that an EMG-led team has signed a definitive agreement with affiliates of The Carlyle Group and Lightyear Capital to acquire the stock of the affiliates of the Key Automotive Group which it did not previously own. The Key Automotive Group affiliates include Key Plastics, LLC and Key Safety Systems, Inc. The transaction is scheduled to close in September 2004 and is being funded entirely by new equity provided by the EMG-led team.

In announcing the transaction, Mr. Ewing said: "Our acquisition of the stock of Key Plastics and Key Safety Systems is a further affirmation of our commitment to the automotive industry as owners and operators. We have made great strides in improving the operations, delivery, customer satisfaction and financial stability of Key Plastics and Key Safety Systems, and this acquisition by an EMG-led team reflects our continued focus on strengthening the leadership positions of these companies over the long term."

Mr. Ewing added: "As part of this transaction, both I and the management teams of EMG, Key Plastics, and Key Safety Systems will directly provide significant amounts of new equity for these two KAG companies. Our customers, employees, suppliers and shareholders will all be well served by this close alignment of shareholders and company managers."

Mr. Ewing is currently Chairman and Chief Executive Officer of both Key Plastics and Key Safety Systems and he will continue in those roles.

About Key Automotive Group

The Key Automotive Group of companies is an affiliation of premier suppliers of components and systems to the global automotive industry. The Key Automotive Group of companies currently generate more than $1.6 billion in sales and employ more than 14,000 employees in state-of-the-art technical and manufacturing facilities in 15 countries in North America, Europe and Asia.

Key Plastics is a leading supplier of plastic products to the automotive and light truck Tier 1 and OEM markets. Key Plastics engineers and produces value-added components and sub-assemblies for exterior applications, interior term and functional under-hood products. Key Plastics' global operations comprise 21 manufacturing facilities, 3 technical centers and two mold-making facilities providing concurrent program management and production services throughout North America, Europe and Asia. With over $500 million in global sales annually, Key Plastics employs over 4,500 people. Mr. Ewing became Chairman and CEO of Key Plastics when the company was acquired by a group of investors in April 2001.

Key Safety Systems Inc. is a leading global designer and manufacturer of safety-critical components and systems, including airbags, seat belts and steering wheels. Key Safety Systems' products are used in more than 300 vehicle models produced by over 45 automobile manufacturers worldwide. Key Safety Systems' global reach comprises 32 manufacturing technical and sales facilities in 12 countries. The company generates over $1 billion in sales and employs more than 10,000 people in North America, Europe and Asia. Key Safety Systems was acquired by a group of investors in April 2003.

About Ewing Management Group

Based in Dallas, Texas, the Ewing Management Group is focused on acquiring and managing underperforming companies in manufacturing or asset-intensive industries. Ewing Management Group was formerly the Carlyle Management Group, an affiliate of The Carlyle Group.