Autocam Completes Recapitalization and New Debt and Equity Financings.

Company Positioned for Growth Under New Ownership

KENTWOOD, Mich., March 1 -- Autocam Corporation announced today that it has completed its previously announced recapitalization. Pursuant to the recapitalization, Autocam has eliminated over $200 million of secured and subordinated indebtedness. The transaction was financed through the issuance of $85 million of preferred stock and the conversion of approximately $139 million of senior subordinated notes into new common equity. Contemporaneously with the recapitalization, Autocam has completed a $150 million secured debt financing, the proceeds of which have refinanced its existing first lien indebtedness. The new debt financing includes a $30 million undrawn revolver that will be available to fund Autocam's global liquidity requirements.

"All of us at Autocam are proud to have completed this recapitalization consistent with the terms and on the timeline previously announced," said John Kennedy, CEO and President. "Our debt level is now in line with our cash flows and we have created a strong financial foundation for our future business. The support of our customers, vendors and new shareholders throughout this process demonstrates Autocam's franchise value and that Autocam will continue to be a global leader of precision-machined components in the automotive and medical device industries. We are ready to write a new chapter in Autocam's history, and I am confident it will be a chapter of sustained growth."

Autocam Corporation was advised by its investment banker, Miller Buckfire & Co., LLC, and its legal counsel, Kirkland & Ellis LLP.

Autocam is a world leader in the design and manufacture of high volume, precision-machined, extremely close tolerance, specialty metal alloy components and assemblies sold to the transportation and medical device industries. Autocam serves automotive, medical and consumer products companies around the world from 14 facilities in North America, South America, Europe and Asia. Founded in 1988, it employs more than 2,500 people. Among its core competencies are: precision turning, precision grinding, gear manufacturing, precision milling, forging, plastic molding, rotary transfer machining, precision secondary machining, sub-assembly, laser machining, finishing, heat treatment, precision cleaning, and precision measuring. More information can be found at www.autocam.com.