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Advanced Technical Products Completes its Audit

22 May 2000

Advanced Technical Products Completes its Audit and Delivers Audited Financial Statements to Potential Buyer

    ROSWELL, Ga., May 18 Advanced Technical Products, Inc. today announced that it has
completed its audit for the 1999 fiscal year and will file its Annual Report
on Form 10-K with the Securities and Exchange Commission by Monday, May 22.
    The Company also announced that pursuant to the January 2000 Agreement and
Plan of Merger, dated January 28, 2000 by and among the Company and two
affiliates of The Veritas Capital Fund LP, on May 18, 2000, the Company
delivered to representatives of Veritas its audited financial statements for
fiscal year 1999, together with updated disclosures regarding the Company and
its business.
    Pursuant to the terms of the January Agreement, if the proposed
transaction is consummated, a Veritas affiliate will pay the Company's
shareholders $12.75 per share, without interest.  Veritas has ten days,
commencing on May 18, 2000 in which to terminate the January Agreement at its
discretion.  If Veritas terminates the January Agreement, the Company is
obligated to reimburse Veritas for its expenses up to $750,000.  If Veritas
does not terminate within that ten-day period, it must promptly provide the
Company with reasonable evidence that Veritas has obtained financing to
consummate the proposed transaction.  If Veritas does not terminate the
January Agreement within the ten-day acceptance period, it will be obligated
to pay to the Company a cash fee of $3,000,000 in the event that the January
Agreement is terminated by reason of Veritas' failure to obtain financing on
or before June 30, 2000.