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McDonald & Company Securities to Advise Eaton Corporation in Divestiture

6 April 1998

McDonald & Company Securities, Inc. is Exclusive Financial Advisor in Eaton Corporation Divestiture

    CLEVELAND, April 6 -- Cleveland-based McDonald & Company
Securities, Inc. reported today that its Corporate Finance Group
served as exclusive financial advisor to Eaton Corporation in connection with
the divestiture of Eaton's Suspension Division.
    Eaton Corporation announced last week that it had finalized
the sale of the business to Oxford Automotive, Inc. of Troy, Michigan, for an
undisclosed amount of cash.  Eaton's Suspension Division is a full-line
supplier of multi-plate and long-taper leaf springs for the light-, medium-,
and heavy-duty vehicle markets.  The Suspension Division, which had 1997 sales
of $126 million, has 1,126 employees at four locations in North America, and
also manufactures and sells suspension products in South America through a
joint venture with Sivensa in Venezuela.
    "Our selection for this assignment demonstrates McDonald & Company's
strong investment banking presence, its experience in the sale of industrial
businesses, and its expertise in the automotive industry," said Andrew R.
Vollmer, McDonald & Company First Vice President.  "We are pleased to serve
Eaton Corporation and to bring this transaction to a successful conclusion."
    McDonald & Co. Securities, Inc. is a full-service investment banking,
brokerage and investment advisory firm.  It is the principal operating
subsidiary of McDonald & Company Investments, Inc. , which also
provides personal trust services through its wholly owned subsidiary, McDonald
Trust Company.

SOURCE  McDonald & Company Securities, Inc.