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Guide Corporation Sets Option to Acquire Land for New Office Complex Site

17 June 1999

Guide Corporation Sets Option to Acquire Land for New Office Complex Site

    ANDERSON, Ind., June 16 -- Guide Corporation said today that
it has acquired an option on a 20-acre site in Pendleton, Ind., for a new
engineering and marketing office complex.  Keith Merrill, president of Guide
Corporation's Signal and Forward Lighting Operations, added that the company
has until September 30 to exercise the option for the site in Madison County,
eight miles from its 2.2-million-square-foot Signal Lighting production plant
in Anderson, Ind.
    The proposed office complex is expected to house the company's
engineering, marketing, research and development, sales, customer service, and
corporate personnel.
    The site Guide is considering is located near I-69 and Route 38 in the
City of Pendleton between Anderson and Indianapolis.  The multi-story complex
is planned to be between 120,000 and 130,000 square feet and contain office
and conference space for an anticipated 400 employees.
    The engineering and marketing center is expected to cost between $12 and
$15 million.
    "The site provides Guide Corporation with several strategic advantages,"
Merrill explained.  "It enables us to honor our commitment to remain in
Madison County, Ind.  Further, it allows us to consolidate our engineering,
research and development, marketing, customer service and administrative
offices under one roof.
   "In addition, our offices will be just 20 miles northeast of Indianapolis,
giving us easier access to Detroit and other major global automotive
production centers.  The office-center complex will also help show that Guide
Corporation has established itself as an independent, stand-alone Tier One
supplier to the world's automobile and truck manufacturing industry.
    "If Guide exercises its option by the end of September, construction will
begin in October or November and be completed by the end of May 2000."
    Merrill said preliminary architectural designs are being prepared by K. R.
Montgomery and Associates, Architects and Interior Design, of Anderson.
    Manzar Real Estate Services, Inc., of Indianapolis, he added, would serve
as site developer and general contractor for building construction, and
provide all outside services such as maintenance and site care.
    Guide Corporation is one of the world's largest producers of
vehicle-lighting products, and has more than 3,600 employees worldwide.
    Headquartered in Anderson, Ind., Guide Corporation has plant operations in
Anderson, and Monroe, La.  The company has a sales and engineering center in
Madison Heights, Mich., an additional manufacturing facility in Matamoros,
Mexico, and a joint-venture operation, Sung San, in Taegu, South Korea.