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UNIDYNE Announces New Credit Agreement

9 July 1999

UNIDYNE Announces New Credit Agreement

    EXTON, Pa., July 8 -- UNIDYNE Corporation
today announced that it has received credit committee approval for up to $10
million for working capital and acquisitions.
    The Exton, Pa.-based manufacturer of dynamometers, emission testing
equipment and specialized electric motors said the new credit facility with
Congress Financial Corporation, a subsidiary of First Union Bank N.A., will
provide for a revolving credit and term loan facility of up to $10 million for
working capital and acquisitions.  The new facility will have a three-year
term extending through July 1, 2002.  The loan remains subject to execution of
definitive documentation.
    "UNIDYNE continues to make significant progress in improving our
operations and maximizing opportunities in the emissions-testing and specialty
equipment markets," said Wayne Lorgus, president and chief financial officer.
"This new credit agreement provides us the necessary working capital to
aggressively pursue new markets coming online in the emissions testing market,
service the emerging testing equipment replacement market, continue to invest
in product development, and accelerate the overall growth of UNIDYNE.
    Lorgus continued:  "We are also beginning to examine acquisitions that can
expand our role as a leader in the chassis dynamometer business and further
contribute to value creation at UNIDYNE."
    Exton, Pa.-based UNIDYNE Corporation and its subsidiaries manufacture,
sell, service and finance a variety of products, including vehicle emissions
testing systems, specialized electric motors, and variable speed drives and
controls.  UNIDYNE also manufactures engine and chassis dynamometer testing
systems for a variety of large industrial customers, primarily in the
automotive and heavy equipment industries.  The Company employs approximately
200 people at facilities in Kenosha, Wis.; San Francisco, Calif.; Anaheim,
Calif.; and Exton, Pa.
    The statements contained in this news release include certain predictions
and projections that may be considered forward-looking statements under
securities law.  These statements involve a number of important risks and
uncertainties that could cause actual results to differ materially, including,
but not limited to, the performance of the emissions testing industry, certain
customer and affiliated companies, as well as other economic, competitive,
governmental and technological factors involving the Company's operations,
markets, services, products and prices.