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Delco Remy International, Inc. Acquires Williams Technologies, Inc.

16 November 1998

Delco Remy International, Inc. Acquires Williams Technologies, Inc. Remanufacturing Operation

    ANDERSON, Ind., Nov. 13 -- Delco Remy International, Inc.
, has announced the acquisition of Williams Technologies, Inc.,
Summerville, South Carolina, from The W.W. Williams Company, Columbus, Ohio.
    Williams Technologies, Inc. (WTI) is a leading remanufacturer of automatic
transmissions and torque converters for automotive and medium and heavy duty
truck applications.  The primary market for WTI is the dealer network of major
North American and foreign original equipment vehicle manufacturers.
    The acquisition of WTI will expand DRI's sales of powertrain/drivetrain
components and will be integrated with Power Investments Inc., a DRI
subsidiary.  Power Investments remanufactures engines, automatic
transmissions, fuel systems and other components.
    William's products are sold to the original equipment channel of the
aftermarket for both warranty and post-warranty replacement.  With the
capability of WTI, Delco Remy International expects to benefit from the
growing use of remanufactured automatic transmissions for vehicle repair.
Major WTI customers include Ford, General Motors Powertrain, Allison
Transmission Division of General Motors, Nissan, Hyundai and Mazda.  WTI
product applications include passenger cars, light trucks and the medium and
heavy duty markets.
    DRI Group Vice President, Aftermarket, Joseph P. Felicelli said, "This is
an excellent company that significantly expands our opportunities in the
drivetrain aftermarket.  We also believe its lean manufacturing technology,
known as ProNet, is a benchmark system in this industry."
    Williams Technologies, Inc. was organized in 1979 to remanufacture diesel
engine components.  William S. Williams, who is vice chairman and CEO of The
W.W. Williams Company, will continue to serve as chairman of WTI. Jeffrey W.
Anderson will remain as president and general manager.
    David F. Williams, chairman of The W.W. Williams Company, commented, "This
is a great opportunity for WTI and its employees.  It's been exciting for us
for the past 19 years and we know Delco Remy will continue the WTI growth."
    The W.W. Williams Company was founded in 1912.  It is a leading Detroit
Diesel-Allison distributor with 18 locations in seven states.
    Delco Remy International, Inc., became a public company with
an initial public offering of stock in December 1997.  The company designs,
manufactures, remanufactures and distributes electrical, powertrain/drivetrain
and related components for automobiles and light trucks, medium and heavy duty
trucks and other heavy duty vehicles.  Products include starter motors,
alternators, engines, transmissions, traction control systems and fuel systems
for both the original equipment and the aftermarket.
    Statements in this press announcement, which are not historical facts, are
forward-looking statements that involve certain risks and uncertainties
including, but not limited to risks associated with the uncertainty of future
financial results, acquisition, additional financing requirements, development
of new products and services, the effect of competitive products or pricing,
the effect of economic conditions and other uncertainties detailed in the
Company's filings with the Securities and Exchange Commission.