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Hilite Completes Tender Offer and Sale of Shares to Hilite Holdings, L.L.C.

2 June 1999

Hilite Industries Completes Tender Offer and Sale of Shares to Cleveland-Based Hilite Holdings, L.L.C.

    CARROLLTON, Texas, June 1 -- Hilite Industries, Inc.
today announced it has successfully completed the previously
announced all-cash tender offer by Hilite for all of its outstanding shares of
common stock at a price of $14.25 per share.  The Offer expired at 9:00 a.m.
(New York City time) today.  Approximately 4,730,941 shares, including 22,550
shares tendered pursuant to guaranteed delivery procedures, were validly
tendered and not withdrawn representing approximately 96% shares of all
outstanding common shares of Hilite.  All of the tendered shares were accepted
for payment.
    Immediately prior to the acceptance of the tendered shares, Hilite also
completed the previously announced sale of an aggregate of 1,681,414 shares to
Hilite Holdings, L.L.C.  Hilite Holdings, L.L.C., based in Cleveland, Ohio, is
a Delaware limited liability company newly formed by Carreras, Kestner & Co.,
L.L.C., a Cleveland-based investment group, to acquire Hilite.
    Hilite Industries, Inc. designs, manufactures and sells a diversified line
of highly engineered components and assemblies for the automotive industry
including brake proportioning valves, electromagnetic clutches, machined
components such as mounting brackets and pulleys, and specialty components and
assemblies such as stampings, specialty springs and automated assemblies.  The
Company's customers include all three domestic automotive companies:  Ford
Motor Company, General Motors Corporation and Daimler Chrysler Corporation as
well as other original equipment manufacturers such as Navistar International
Transportation Corporation and non-automotive companies such as Motorola, Inc.
The Company also sells products to first-tier suppliers of the automotive
industry including Borg-Warner Corporation, Bosch Braking Systems Corporation,
Denso of Los Angeles, Inc. and ITT Automotive of North America, Inc.
    For further information call Michael T. Kestner at 216-771-6700 or access
Hilite Industries, Inc.'s website at http://www.hilite-ind.com .