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Briggs & Stratton Completes Foundry Transaction

31 August 1999

Briggs & Stratton Completes Foundry Transaction

    MILWAUKEE, Aug. 31 -- Briggs & Stratton Corporation
:
    Briggs & Stratton Corporation announced today that it has completed a
contribution of its ductile iron foundry business to Metal Technologies
Holding Company, Inc. in exchange for $23.6 million of cash and $45.0 million
of preferred stock. The transaction will result in a gain.
    The provisions of the preferred stock include a 15% cumulative dividend
and conversion rights into a minimum of 31% of the common stock of Metal
Technologies Holding Company, Inc.
    Metal Technologies Holding Company, Inc. becomes the primary supplier to
Briggs & Stratton Corporation of ductile iron castings for crankshafts and cam
gears.

                             BRIGGS & STRATTON CORPORATION

                             James E. Brenn
                             Senior Vice President and Chief Financial Officer

    This release contains certain forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those in the forward-looking statements.  The forward-looking statements
are based on the Company's current views and assumptions and involve risks and
uncertainties that include, among other things, the effects of weather on the
purchasing patterns of the Company's customers and end use purchasers of the
Company's engines; the seasonal nature of the Company's business; actions of
competitors; changes in laws and regulations, including accounting standards;
employee relations; customer demand; prices of purchased raw materials and
parts; domestic economic conditions, including housing starts and changes in
consumer disposable income; foreign economic conditions, including currency
rate fluctuations; the ability of the Company's customers and suppliers to
meet year 2000 compliance; and unanticipated internal year 2000 issues.  Some
or all of the factors are beyond the Company's control.