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ASC Becomes Majority Owner of ASC Exterior Technologies

31 December 1999

ASC Becomes Majority Owner of ASC Exterior Technologies

    SOUTHGATE, Mich., Dec. 30 -- ASC Holdings, an affiliate of
ASC Incorporated, has acquired shares of ASC Exterior Technologies (ASCET INC)
(OTC Bulletin Board: JPEI) from Kojaian Holdings LLC, and now holds
approximately 95 percent of the company.  The announcement was made by David
Treadwell, chairman of ASC Exterior Technologies and CEO of ASC Holdings.
    In May 1999, ASC Holdings LLC and Kojaian Holdings LLC acquired
controlling interest in JPE, Inc., which began doing business as ASC Exterior
Technologies.
    The company is a Tier 1 supplier of automotive exterior trim packages and
aftermarket heavy truck parts. Operations are located in Beaver Creek, Ohio,
East Tawas, Mich., and Harrisburg, Pa., and the company employs approximately
950. ASC Exterior Technologies has sales of approximately $155 million.
    ASC Incorporated is a global specialty vehicle and systems company with
five operating activities: Creative Services provides automotive design,
engineering and prototype services; Specialty Vehicles supplies the automotive
industry manufacturing expertise, development and production of specialty
vehicles; Engineered Systems manufactures and distributes open-air systems
(sunroofs and convertible tops) for OEM and aftermarket applications;
Composite Systems produces removable hardtops and other molded products for
OEM and aftermarket applications; and Aftermarket Products develops and
distributes vehicle accessories for the aftermarket.
    Headquartered in Southgate, ASC maintains operations through the U.S. and
Canada, and in Germany and Korea. ASC and its family of companies employs more
than 4,500 people in over 30 facilities, and has annual sales of over
$900 million. For more information about ASC Incorporated, visit
http://www.ascglobal.com .