---

Flint & Livonia Peregrine Plant Employees Will Have Option to Work at GM

31 August 1998

Flint & Livonia Peregrine Plant Employees Will Have Option To Work at General Motors

    SOUTHFIELD, Mich., Aug. 28 -- Peregrine Incorporated today
announced all hourly employees at its Flint and Livonia plants scheduled for
closure later this year will have the option to fill open positions at General
Motors.
    About 725 workers at Peregrine's Flint plant met Thursday and another 725
employees at the Livonia plant met today with labor relations representatives
from General Motors and with representatives of the United Auto
Workers International Union to receive details of the UAW/GM agreement.
    "We're pleased with the details of this agreement since one of the stated
objectives of our turnaround strategy was to minimize unemployment and job
loss," said Peregrine Chief Executive Officer James J. Bonsall.  "General
Motors and the unions have been very cooperative throughout this entire
process."
    Both the Flint and Livonia plants are expected to close during the fourth
quarter of 1998.  The company's Windsor, Ont. plant is expected to be sold by
Dec. 31.
    After the closings and sale, Peregrine will continue to operate five
facilities: a bumper fascia and stamping plant in Oshawa, Ont., a metal
forming plant in Battle Creek and three metal forming plants in Warren.  In
addition, the company will retain its headquarters in Southfield.  The
restructured company will employ more than 2,000 people and focus on providing
automotive components to GM, Ford, Chrysler, Takata, TRW and Budd.
    Peregrine Incorporated, a major supplier of interior and exterior products
to the automotive industry, was purchased in May by Peregrine Acquisition,
Inc., an entity whose principals include Jay Alix, founder of Jay Alix &
Associates and managing principal of Questor Partners Fund, L.P.