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Shiloh Industries Continues Strategic Initiatives

21 July 2000

Shiloh Industries Continues Strategic Initiatives

    *  Automotive Stamping and Assembly Plant to be Acquired
    *  Certain Tool & Die and Steel Processing Operations to be Evaluated
    *  Q3 EPS Estimate Revised

    CLEVELAND - Shiloh Industries, Inc. , a leading manufacturer of engineered 
blanks, stamped components and modular systems for the automotive, truck and 
other industrial markets, announced that it intends to implement key strategic 
initiatives to support its continued focus on the automotive sector.

    Automotive Stamping and Assembly Plant Acquisition

    The Company has signed a definitive agreement to purchase the assets of
A.G. Simpson (Tennessee) Inc. for approximately $47.9 million in cash.  Sales
for A.G. Simpson (Tennessee) Inc. for calendar year 1999 were approximately
$46.6 million.  The purchase is expected to close during Shiloh's fourth
fiscal quarter, pending regulatory approval and satisfaction of certain
closing conditions.

    The assets to be purchased consist of a plant and equipment that produce
automotive stampings and assemblies, primarily for Nissan Motor Corporation,
Johnson Controls, Inc., Ford Motor Company, Saturn Corporation and Visteon
Corporation.

    The facility is located in Dickson, Tennessee, near Nashville.  Built in
1994 and aggregating some 206,000 square feet, this plant is a state-of-the-
art stamping and assembly facility with 10 presses ranging from 200 to 2,000
tons.  This facility has flexible robotic welders, resistance welding cells,
tube bending and assembly capabilities.  The plant employs approximately 325
people.

    "This plant acquisition reflects a strategic expansion of the Company's
capabilities and further positions Shiloh as a key supplier of engineered
metal products for seating and interior structural applications," said Jack F.
Falcon, president and CEO. It is expected that this acquisition will be
accretive to Shiloh in fiscal 2001.

    The Evaluation of Strategic Alternatives

    To further support the Company's core-business growth strategy, Shiloh
intends to pursue strategic alternatives for certain existing tool & die and
steel processing facilities.  Rationalizing the Company's tool & die and steel
processing operations will enable management to better focus on highly-
engineered stamping and blanking operations for the automotive sector, while
retaining the higher value-added operations of its tool & die and steel
processing businesses.

    The Company will actively seek strategic alternatives for two of its five
tool & die facilities, Canton Tool & Die and Utica Tool & Die, and Valley City
Steel, one of its two steel processing facilities.  This is a proactive move
on the part of Shiloh to bring its tool & die and process steel capacity in
line with the Company's internal demand for its internal blanking and stamping
operations, expected program management business and current market capacity
conditions.  The Company expects that final decisions regarding the strategic
direction for each of the facilities will be determined by fiscal year-end
2000.

    Falcon said, "These strategic alternative are necessary in order to focus
our Company on its core competencies and align our financial, operational and
human resources with our strategic plan.  These changes will position Shiloh
for continued growth in the automotive and light-truck markets."

    Third Quarter EPS Revision

    As a result of weak performance by certain tool & die operations, a
general softening in the heavy-truck sector and reduced volumes of certain
light-truck and automotive platforms, the Company anticipates that its
earnings for the third quarter will be lower than expected. Third quarter
results will be announced the week of August 21, 2000.  At this time, the
Company expects that third quarter earnings will be approximately $0.25 per
share.

    "These changes to our organization will position Shiloh to correct
elements of our tool and die capacity that will not contribute to our future
focused areas of growth and position Shiloh to deliver increased services to
our customers, enhanced performance to our stakeholders and expanded growth
opportunities in the engineered blank, stamped component and modular system
markets we serve," Falcon concluded.