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Owosso Corporation Announces the Sale of Dura-Bond Bearing Company

6 November 2000

Owosso Corporation Announces the Sale of Dura-Bond Bearing Company

    KING OF PRUSSIA, Pa., Nov. 6 
Owosso Corporation today announced that it had completed the
sale of the stock of its Dura-Bond Bearing Company subsidiary ("Dura-Bond") to
a joint venture formed by Melling Tool Company of Jackson, Michigan and Engine
Power Components, Inc. of Grand Haven, Michigan.  The Joint Venture acquired
the outstanding stock of Dura-Bond for cash of approximately $5.0 million and
the assumption of debt of approximately $5.0 million.   Owosso expects to
record a loss on the disposition of $1.3 million in the fourth fiscal quarter
of 2000.
    Dura-Bond's fiscal 2000 sales were approximately $8.1 million.
    George B. Lemmon, Jr., Owosso's president and chief executive officer,
commented, "We are pleased to have completed the sale of Dura-Bond, our first
step in the process of disposing of our non-core businesses.  The proceeds
from this sale and the anticipated future sales will be used to reduce our
outstanding debt."