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National-Standard Extends Loan Agreements To Year 2000

29 September 1997

National-Standard Extends Loan Agreements To Year 2000

    NILES, Mich., Sept. 29 -- National-Standard announced today
that its existing loan agreements with Foothill Capital Corporation, a Norwest
Company, have been extended to October 1, 2000.  The facility includes
$35,000,000 of revolving credit notes secured primarily by accounts receivable
and inventory and $20,000,000 of term loans secured primarily by the Company's
property, plant and equipment.  Total borrowings under the existing agreement
were $34.0 million at June 30, 1997.
    "We're delighted that our existing lender has provided the Company with a
loan facility that allows us to pursue our strategies for enhancing
stakeholders' value," said Michael B. Savitske, President and Chief Executive
Officer.
    "Foothill has been a lender to National-Standard since 1991 and has always
been a keen supporter of our ongoing improvement initiatives."
    Founded in 1907, National-Standard is a Niles, Michigan based firm with
annual sales of approximately $250 million.  In nine operating facilities
throughout the world, the Company manufactures and distributes a broad range
of wire and wire-related products, including tire bead wire and welding wire,
in addition to wire cloth and fabricated filters for the automotive air bag
industry.

SOURCE  National-Standard