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AMETEK Acquires Several Businesses From Prestolite Electric

8 August 2000

Acquisition Greatly Expands AMETEK's Electromechanical Product Offering

    PAOLI, Pa. - AMETEK, Inc. today announced the acquisition of the switch, 
industrial battery charger, and direct-current motor businesses of Prestolite 
Electric Incorporated for approximately $60 million in cash.  The acquired 
businesses had 1999 sales totaling $71 million and employ more than 500 people 
at six worldwide locations.  This acquisition substantially expands the product 
offering of the Electromechanical Group beyond its current focus on motors for 
floorcare, technical and other specialty applications.

    The acquired businesses are: Prestolite's Switch Division, which produces
contactors, solenoids, and other electromechanical devices for the
telecommunications, mobile phone, and material-handling markets; Prestolite's
Industrial Battery Charger business which designs and manufactures high-
quality industrial battery chargers for sale under the Hobart and Prestolite
Power brand names, and the DC motor business, which produces high-quality
drive-motors used in electric-powered, material-handling vehicles and in
hydraulic pumps and winches.

    Mr. Frank Hermance, AMETEK president and chief executive officer said, "We
are very excited about this acquisition.  With the addition of the switch and
the industrial battery charger businesses, our Electromechanical Group
substantially broadens its market and customer potential.  These are
differentiated businesses, with strong market positions, superior technology,
and a reputation for quality and service. "

    "We plan to combine the Prestolite Switch Division and the Industrial
Battery Charger business into a new division, Prestolite Power and Switch
Division.  We expect this Division will serve as a platform for future
acquisitions as we continue to broaden the product offering of our
Electromechanical Group," Mr. Hermance continued.

    "Our acquisition of Prestolite's DC motor business provides us with market
expansion opportunities through its strong position in the material-handling
and electric-drive motor markets.  We will be able to leverage this business
with AMETEK's worldwide manufacturing and distribution capabilities,"
concluded Mr. Hermance.

    Corporate Profile

    AMETEK is a leading global manufacturer of electronic instruments and
electromechanical equipment with 1999 sales of $925 million.  Its Corporate
Growth Plan is based on Four Key Strategies: Strategic Acquisitions & Joint
Ventures, Global & Market Expansion, New Products and Operational Excellence.
Its objective is double-digit percentage growth in earnings per share from
continuing operations and a superior return on total capital.  The common
stock of AMETEK is a component of the S & P MidCap 400 Index and the Russell
2000 Growth Index.