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The Holland Group Signs Definitive Agreement to Acquire Neway Anchorlok

4 June 1999

The Holland Group Signs Definitive Agreement to Acquire Neway Anchorlok International

      -- Combined Company Will Have Scale and Scope Necessary to Compete
           Successfully in Global Truck and Trailer Marketplace --

    HOLLAND and MUSKEGON, Mich., June 3 -- The Holland Group and
Neway Anchorlok International, Inc. today announced that they have signed a
definitive agreement in which The Holland Group will acquire Neway Anchorlok,
a full service supplier of air suspension systems, height control valves,
spring brake actuators and related products to the truck and trailer market.
The Holland Group, through its Holland Hitch, Holland Binkley and Holland
ProPar operations, is a leading supplier of coupling, lift and suspension
systems for trucks, tractors and trailers.  Terms of the transaction were
not disclosed.  The transaction is expected to close by mid-summer.
    The synergistic combination joins two world-class original equipment
suppliers with highly complementary products, leading market positions, strong
management teams and excellent design, engineering, production and testing
technologies.  The acquisition also provides The Holland Group with the
critical mass necessary to compete in the global market with twenty-three
manufacturing and warehousing facilities worldwide.
    "Neway Anchorlok is a world-class supplier of products for the truck and
trailer markets for both the North American and international markets.  Neway
Anchorlok's reputation for innovation and product performance and its
extensive distribution network are major factors contributing to its leading
market positions in each of its product lines," said Dick Muzzy, President and
Chief Executive Officer of The Holland Group.  "We believe that this
acquisition will strengthen our strategic position globally, increase
shareholder value and lead to enhanced growth and margin opportunities."
    Jack P. Smith, President and Chief Executive Officer of Neway Anchorlok,
said, "The union of Neway Ancholok and The Holland Group marks an excellent
strategic combination.  The combined company will have the scope and scale
necessary to compete effectively in the worldwide marketplace and an enhanced
ability to deliver customers a more complete package of industry-leading
products."
    James H. Greene, Jr., partner of KKR, which acquired Neway Anchorlok in
1995, added, "We have been very pleased with Neway Anchorlok's growth over the
past four years and believe this transaction represents the next logical step
in the company's development.  In a consolidating industry where scale is
becoming increasingly important, the combined Holland and Neway Anchorlok will
be a formidable competitor."
    Neway Anchorlok International, Inc., based in Muskegon, Michigan, is a
leading manufacturer of highly engineered systems and components for trucks
and trailers for the North American and international markets.  The Company
designs and manufactures two major product lines under two brand names: (i) a
full line of air suspensions systems and height control valves as well as
related replacement parts and components for both trucks and trailers under
its Neway(R) brand and (ii) spring brakes actuators under its Anchorlok(R)
brand.  The Company's suspension business was established in 1948 and its
Anchorlok brake operation was founded in 1957.
    The Holland Group is the internationally recognized leader in the design,
manufacture and distribution of quality engineered components to the
transportation industry specializing in coupling, lift and suspension systems
for trucks, tractors and trailers.  Products include tractor fifth wheels and
trailer landing gear, suspensions, kingpins, axles, brakes, couplers and roll
formed components sold under the Holland(R), Holland Binkley(R), and Holland
ProPar(R) brand names.  Holland Group products are standard equipment at
original equipment manufacturers worldwide and are sold and serviced by more
than 2,500 distribution locations.
    KKR is a private investment firm headquartered in Menlo Park, California,
New York, New York and London, England.