J.L. French Automotive Castings, Inc. Completes Debt Refinancing

SHEBOYGAN, Wis., Aug. 24, 2004 -- J.L. French Automotive Castings, Inc. announced today that it has completed a refinancing of its outstanding indebtedness. The refinancing included:

  -- The issuance of $165 million of preferred and common stock, $50 million
      of which was purchased by the company's existing stockholders.

  -- The completion of a tender offer for the company's 11 - 1/2% senior
      subordinated notes.  Approximately 84% of the notes were tendered at a
      price of $850 per $1,000 principal amount of notes.

  -- Refinancing of the company's senior secured credit facilities.  The new
      credit facilities which provide for total borrowings of $465 million
      mature in 2011.

In commenting on the refinancing, Jack Falcon, president and chief executive officer said, "The completion of the refinancing provides a long- term solution to our capital structure. It will allow us to continue to grow our business and provide our customers with the highest quality aluminum components.

About J.L. French Automotive Castings, Inc.

J.L. French Automotive Castings, Inc., a privately held automotive supplier, is a leading global designer and manufacturer of highly engineered aluminum die cast automotive parts including oil pans, engine front covers and transmission cases. The company has manufacturing facilities in Sheboygan, WI; Glasgow, KY; Benton Harbor, MI; San Andres de Echevarria, Spain; Saltillo, Mexico; as well as three plants in the United Kingdom. The company is based in Sheboygan, WI, and has its corporate office in Minneapolis, MN.

This communication contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication that relate to prospective events or developments are deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will" and similar words are intended to identify forward-looking statements. These forward-looking statements, which may include, but are not limited to, statements, concerning the financial condition, results of operations and businesses of J.L. French are based on management's current expectations and estimates and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements.