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Statement By Alfmeier Corporation

22 October 1998

Statement By Alfmeier Corporation

    GREENVILLE, S.C., Oct. 22 -- Alfmeier Corporation announces a
transition of the North American executive team which will take effect on
November 1, 1998.  Newly promoted vice presidents Dean Davidson, Markus
Farrenkopf, and Rainer Mayer will begin their respective positions as vice
president of operations, vice president of engineering, and vice president of
business development and international strategy.  Markus Farrenkopf will chair
the newly formed Vice Presidential Board.
    Following five years of service to Alfmeier, Executive Vice President for
North America Sam J. Konduros has accepted a new position with a South
Carolina corporation, with the support and best wishes of the worldwide chief
executive officers and majority owners, Markus and Andreas Gebhardt.
    "Being part of the fast emerging automotive industry in South Carolina and
having the opportunity to lead Alfmeier Corporation's business launch and
first five years in North America has been one of the most meaningful and
exciting experiences of my life.  I am especially excited to pass the
leadership torch to my Alfmeier colleagues who have contributed greatly to our
success and have worked by my side over the past years," stated Sam Konduros.
Markus and Andreas Gebhardt remarked that "We are grateful for Sam's
leadership which has been an essential ingredient in our early North American
success story, and are fully confident that the newly aligned executive team
will continue the momentum and create a strong future for Alfmeier Corporation
in coming years."
    Prior to their promotion to vice presidents, Dean Davidson served as plant
manager and Markus Farrenkopf served as director of engineering for Alfmeier
Corporation in North America.  Rainer Mayer, who formerly served as director
of marketing for the German parent organization, Alfmeier Prazision AG, will
relocate to the United States in his new corporate role.  Completing the
U.S.-based executive team are Jim Wiginton, director of finance, and Derek
Loader, director of sales and marketing.  Alfmeier remains fully committed to
its North American customers, employees and investment, which is projected to
increase substantially over the next five years.
    Alfmeier Corporation currently employs a total of 83 full time employees
at its Greenville, S.C., Headquarters and Manufacturing facility, and its
Detroit-based Program Management and Sales division.  Following its initial
North American production year in 1995, sales have more than quadrupled, with
annual turnover projected to exceed $20 million by year 2000.  1998 sales are
expected to surpass $13 million.  Alfmeier Corporation currently delivers fuel
system products to 11 customers, including BMW, Mercedes-Benz, Chrysler,
Kautex Textron, Plastic Omnium, Pierburg, AFCO and Solvay Automotive.
Alfmeier Corporation was awarded QS9000 certification in 1998, recognizing the
company's world class quality and manufacturing systems.