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Penda Corporation Announces Acquisition of Tuffliner

14 September 2000

Penda Corporation Announces Acquisition of Tuffliner

    PORTAGE, Wis., Sept. 13 Penda Corporation announced today
the acquisition of the assets of Atwell Industries.  Located in Ayden, N.C.,
Atwell Industries is the manufacturer of Tuffliner branded truck bedliners.
Penda is the nation's largest manufacturer and marketer of pick-up truck
bedliners, serving both the original equipment and automotive aftermarkets.
    Jack Thompson, President and Chief Executive Officer for Penda, adds,
"Tuffliner will help Penda continue to gain market share and further
strengthen our hold as the number one bedliner manufacturer."
    The Tuffliner acquisition will continue to enhance Penda's position as a
complete platform for truck accessories.  Leo Waner, Chief Financial Officer
for Penda, explains, "The Tuffliner acquisition allows us to continue to build
our market leadership position.  It allows us to leverage our fully integrated
process and favorable supplier agreements to create additional shareholder
value."