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Harbour Group Subsidiary Acquires Peck Spring Company

2 June 1998

Harbour Group Subsidiary Acquires Peck Spring Company

    ST. LOUIS, June 1 -- Sam Fox, Chairman and Chief Executive
Officer of Harbour Group, announced today that MW Industries, Inc., a Harbour
Group subsidiary, has acquired Peck Spring Company of Plainville, CT.  Terms
of the acquisition were not disclosed.
    MW Industries manufactures a full range of industrial springs and
flat-stamped products for the transportation, construction, and agricultural
industries, among others.  The company employs approximately 500 people and is
based in Logansport, Ind.
    Peck Spring manufactures a broad array of spring components used in
numerous industries.  ISO certified Peck Spring is strategically aligned with
many companies that require precise springs for critical applications.
    Dan Sebastian, Chief Executive Officer of MW Industries said, "With the
acquisition of Peck Spring, MW Industries has become one of the largest spring
companies in the industry, with the capability of offering numerous
cost-effective spring applications to its customer base.  This acquisition
provides geographical balance, as well as expansion of our product offering."
    Mr. Fox said the acquisition "represents another example of Harbour
Group's commitment to establishing a presence in highly fragmented industrial
products industries."
    Harbour Group is a privately owned industrial holding company based in
St. Louis.  Harbour Group specializes in the acquisition and development of
industrial manufacturing companies within fragmented industries that provide
the opportunity for long-term growth through complementary acquisitions.
Harbour Group's subsidiaries and former subsidiaries (the public companies in
which Harbour Group retains varying amounts of stock ownership) have more than
10,000 employees worldwide and annual revenues of over $1.0 billion and
manufacture a variety of industrial products, including auxiliary processing
equipment, construction equipment, paint spraying systems and accessories,
high pressure cleaning equipment, industrial and automotive springs, automated
production equipment and automotive accessories.