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Miller Industries, Inc. Announces Conclusion of Alternatives Study

14 May 1999

Miller Industries, Inc. Announces Conclusion of Strategic and Financial Alternatives Study

    CHATTANOOGA, Tenn., May 13 -- Miller Industries, Inc.
announced today that its Board of Directors has concluded its
study of potential strategic and financial alternatives for the Company.
Today the Board of Directors ratified its Special Committee's recommendation
to investigate and pursue the possibility of separating the Company's RoadOne
towing and recovery services business from its towing and recovery equipment
manufacturing operations through a tax-free spinoff which would result in the
formation of two public companies.  The Company has engaged J.C. Bradford &
Co., which has provided financial advisory services to the Company since its
initial public offering in 1994, as its financial advisor with respect to
these matters.  William G. Miller, Chairman, commenting on the Board's
conclusion, said: "As we look to the year 2000 and beyond, a separation of the
businesses into two public entities should allow the potential of each
business to be maximized."
    To emphasize this direction, the Company announced that James A. McKinney
has joined the Company as the Chief Executive Officer of RoadOne and a member
of the Miller Industries, Inc. Board of Directors (see press release on
McKinney).  As CEO of RoadOne, Mr. McKinney will report directly to the Board
of Directors and will be responsible for all aspects of RoadOne, which will
include leading RoadOne's efforts in the pursuit of the spinoff.
    Jeffrey I. Badgley will continue to report to the Board of Directors as
President and Chief Executive Officer of Miller Industries, Inc. with
responsibility for all aspects of the equipment segment of the Company, which
includes manufacturing, distribution and financial services.  Mr. Badgley will
lead the effort to separate the equipment segment from RoadOne.
    Mr. Badgley, commenting on the announcements, said: "Jim McKinney is a
welcome addition to our management team.  He brings to RoadOne a wealth of
experience in the service business at the senior management level and, as
such, helps position RoadOne to be a stand alone company."  He continued,
"Jim's presence allows me to have a singular focus on the equipment segment of
the Company where I see substantial growth opportunities for the future."
    Mr. McKinney said: "RoadOne is well positioned to capitalize on the
critical mass it has established with the national network of owned and
affiliated towing companies along with the national call center which supports
its national commercial accounts program."  He continued: "To succeed, RoadOne
must achieve operational excellence and I plan to utilize many of the same
approaches we utilized at Federal Express to rapidly grow our business at
RoadOne while meeting all of our customer's expectations."
    Should the potential separation occur, the manufacturing business would
have a current revenue run rate of approximately $340 million, 10 owned
distributors, 140 independent distributors, approximately 1,000 employees, six
manufacturing facilities and the financial services group.  RoadOne would have
a current revenue run rate of approximately $200 million, more than
3,000 employees in 100+ locations with approximately 1,850 affiliated towing
companies.
    The Company stressed that completing any such separation of the two
businesses through a tax-free spinoff transaction would entail the
satisfaction of numerous significant conditions which at this time are
uncertain.  These conditions include, but are not limited to, securing an IRS
private letter ruling, an SEC no-action letter, satisfactory banking
arrangements, the approval of the Company's shareholders and a final decision
to proceed by the Board of Directors.  Therefore the Company can give no
assurance that any such transaction will occur.  The Company currently expects
that the spinoff transaction, if completed, would occur around the 1st of
January, 2000.
    Miller Industries is the world's leading integrated provider of vehicle
towing and recovery equipment and services.  The Company markets its towing
services under the national brand name RoadOne(R) and its towing equipment
under a number of well-recognized brands.

    Except for historical information contained herein, the matters set forth
in this news release are forward-looking statements.  The Company noted that
forward-looking statements set forth above involve a number of risks and
uncertainties that could cause actual results to differ materially from any
such statement, including the risks and uncertainties discussed under the
caption "Risk Factors" in the Company's Form 10-K for fiscal 1998, which
discussion is incorporated herein by this reference.