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GenRad Advances Auto Aftermarket Strategy With Acquisition of Mastertech

28 December 1999

GenRad Advances Automotive Aftermarket Strategy With Acquisition of Mastertech Automotive Limited

    WESTFORD, Mass.--Dec. 27, 1999--GenRad, Inc. today announced it has acquired the Wickford, England based Mastertech Automotive Limited. The acquisition provides GenRad with the ability to offer guided diagnostic solutions to the independent automotive repair market.
    GenRad's president and CEO, Jim Lyons noted "this acquisition is in line with our stated intention of broadening our presence in the automotive aftermarket. The expertise that we gain from the acquisition of Mastertech will both further that strategy and provide better diagnostic capabilities to independent service providers. We are very pleased with the acquisition."
    This acquisition, a combination of cash and stock, is non-dilutive.

    GenRad Background

    GenRad, Inc. provides electronics OEMs and their customers with the hardware, software and services to increase productivity by optimizing product design, manufacturing and after-market service. GenRad, headquartered in Westford, MA, offers products and services through three business units: Advanced Diagnostic Solutions (ADS), Electronic Manufacturing Solutions (EMS), and GR Software (GRS). GenRad's web site address is http://www.genrad.com.

    GenRad's most current shareholder information is available by visiting our Website at http://www.genrad.com or calling our Fax on Demand Service at (800) 469-1261.

    Statements made in this press release which are not historical, including statements regarding future performance, product capabilities and markets are forward looking statements and as such are subject to a number of risks. Factors that may cause results to differ materially from those projected are discussed in GenRad's 1998 Annual Report on Form 10-K for the fiscal year ending January 2, 1999 and form 10-Q for the quarter ended October 2 , 1999 under the section "Management's Discussion and Analysis of Financial Conditions and Results of Operations - Factors That May Affect Future Results."