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Autocam Completes Acquisition of French Manufacturer

2 October 1998

Autocam Completes Acquisition of French Manufacturer; Provides Estimate of First Quarter Earnings; Names David Livingston as Chief Operating Officer

    KENTWOOD, Mich., Oct. 2 -- Kentwood, Michigan-based Autocam
Corporation today announced that it completed the previously-
announced purchase of Frank & Pignard ("F&P"), a French manufacturer of
precision-machined metal components with operations in Cluses, France, for $53
million.  In addition, the Company agreed to assume $20 million of existing
F&P debt.  Annual sales of F&P, consisting primarily of power steering, diesel
fuel injector and braking system components to leading global automotive
manufacturers and their tier-one suppliers, approximated $82 million during
the year ended December 31, 1997.  The investment was financed through bank
borrowings.
    "With this latest acquisition, Autocam has strengthened its position as a
leading global supplier of precision-metal machined components for the
automotive industry and the only precision machining supplier with production
facilities in North America, South America and Europe," Autocam President John
C. Kennedy said.  "F&P has a strong base of business and manufacturing
capabilities which will allow us to expand and strengthen our relationship
with a key fuel systems customer, and F&P's power steering component business
will contribute significantly toward many corporate financial and marketing
objectives."  The Company expects the acquisition to add 25 cents per common
share to its fiscal 1999 earnings and as much as 50 cents per common share to
its fiscal 2000 earnings.
    The Company also reported that it expects to earn 3 to 5 cents per share
for the three months ended September 30, 1998, after recording a 4 cent per
share non-operating charge in connection with dissolution of its domestic
international sales corporation as a result of the establishment of a foreign
sales corporation.  This lower than expected earnings performance is primarily
due to a reduction in sales to Delphi Automotive Systems caused by the recent
strike at General Motors.  Demand from Delphi returned to pre-strike levels in
mid-September.
    Finally, Autocam announced that David H. Livingston, 48, has joined the
Company to fill the position of Chief Operating Officer responsible for
overseeing global manufacturing operations.  Mr. Livingston, a graduate of the
University of Kentucky, was most recently Senior Vice President of Operations
for Delco Remy America responsible for manufacturing operations in the U.S.,
Mexico, Korea and Hungary.  "David is a dynamic leader and manager," said
Kennedy.  "Throughout his 25-year career serving the automotive industry, he
has demonstrated skill in directly managing manufacturing operations, as well
as marketing/sales, product engineering, finance and human resource functions,
and he has extensive experience in implementing the Toyota Production System."
Mr. Livingston will begin on October 12.
    Autocam manufactures precision-machined parts used in automotive fuel
systems, anti-lock braking systems, automotive electric motor assemblies,
medical devices, and computer electronics.  Autocam's common stock trades on
the Nasdaq National Market under the symbol "ACAM."  For more information on
the Company, visit our Internet website at http://www.autocam.com.
    This release may contain forward-looking statements relating to future
financial and other results.  Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or performance
and underlying assumptions and other statements that are other than statements
of historical facts.  Such forward-looking statements may be identified by the
use of the words "anticipates," "estimates," "expects," "intends," "plans,"
"predicts," "projects," and similar expressions.  These cautionary statements
and any other cautionary statements that may accompany the forward-looking
statements expressly qualify all such statements.  Forward-looking statements
involve risk and uncertainties that could cause actual results or outcomes to
differ materially from those expressed in the forward-looking statements.