Leading Proxy Advisor Backs Simpson Industries Board

14 April 2000
Leading Proxy Advisor Backs Simpson Industries Board
    PLYMOUTH, Mich., April 14 Simpson Industries, Inc.
(Nasdaq: SMPS) announced today that The Proxy Monitor, Inc., respected advisor
to major public and private pension funds and institutional investors, has
recommended to its clients that they vote FOR management's nominees and
AGAINST the MMI shareholder proposal at Simpson's Annual Meeting on
April 18.
    In making its recommendation, Proxy Monitor noted that if MMI were to
prevail, "the only offers the company is likely to receive are those that
represent a premium only to a few short-term investors and speculators seeking
a quick profit, to the detriment of long term shareholders who purchased their
shares at a higher price."  They additionally noted that "in fact, 'shopping
the company around' could impair the board's bargaining power" in any
potential transaction.
    Their recommended vote for the Simpson nominees is based on their opinion
that the 30% representation MMI seeks is "way out of proportion to their
current equity stake," and their doubts that "the addition of the three MMI
representatives would help to boost shareholder returns."
    Commenting on the Proxy Monitor voting directive, Roy Parrott, Chairman
and Chief Executive Officer of Simpson, stated, "We are gratified that Proxy
Monitor had the clarity of vision to support the Simpson Board's judgment.  We
welcome their objectivity, and would ask that all Simpson shareholders
carefully consider this independent professional advice in making their final
voting decision."
    Simpson Industries supplies powertrain and chassis products to original
equipment manufacturers in the worldwide automotive and medium and heavy duty
diesel engine markets.  Simpson's products are focused in three groups:
noise, vibration and harshness, wheel-end and suspension, and modular engine
assemblies.  Simpson's manufacturing units are located in the United States,
Canada, Mexico, Brazil, England, India, France, Spain and South Korea.
Information about Simpson is available on the Internet at
http://www.simpsonind.com .