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Meridian Automotive Systems, Inc. Completes Planned Purchase Of Cambridge Industries, Inc.

17 July 2000

Meridian Automotive Systems, Inc. Completes Planned Purchase Of Cambridge Industries, Inc.

    DEARBORN, Mich. - Robert H. Barton III, Chairman, President and Chief 
Executive Officer of Meridian Automotive Systems, Inc., announced that the 
company has completed its previously announced purchase of Cambridge Industries,
Inc.

    With the closing, Meridian assumes ownership of the purchased assets and
responsibility for affected Cambridge operations and associated employee,
customer and supplier relations.  Additionally, the Meridian name will replace
Cambridge's name in all affected locations.

    Dearborn-based Meridian Automotive Systems is a leading supplier of
technologically advanced front and rear end modules, console modules,
instrument panels and other interior systems to automobile manufacturers in
North America.  Meridian operates 13 plants in Michigan, Indiana, Kansas and
Tennessee supplying Ford, General Motors, DaimlerChrysler and major Tier One
parts suppliers.

    Cambridge Industries was a Tier One plastic composites supplier to the
automotive, light and commercial truck, and industrial products markets.
Cambridge operated 18 facilities in the U.S., Canada, and South America.

    "This acquisition supports Meridian's strategy to become the leader in
exterior systems and selective interior modules," Barton said.  "With combined
sales in excess of $1.2 billion, and a strong reputation for quality, customer
satisfaction and technological innovation, the new Meridian is poised to be a
leader in the automotive supply industry.

    "The purchase price for Cambridge's assets included approximately $363
million in cash and the assumption by Meridian of certain current and accrued
liabilities and employee-related obligations and adjustments.

    Major investors in Meridian Automotive Systems include Windward Capital
Partners, L.P., Metropolitan Life Insurance Company, Northwestern Mutual Life
Insurance Company, Credit Suisse First Boston and the Caisse de Depot et
Placement du Quebec.