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J.L. French Automotive Castings Announces New Equity and Changes to Credit Agreement

30 November 2000

J.L. French Automotive Castings Announces New Equity and Changes to Credit Agreement

    MINNEAPOLIS, Nov. 30 J.L. French Automotive Castings,
Inc., today announced it has completed an amendment to its senior credit
facility.  Concurrent with the execution of the amendment to the senior credit
facility, the company's common stockholders have invested $60 million in a
newly created class of common stock of the company.  In addition, a
$30 million convertible subordinated note was converted into another class of
common stock.  The company believes that the amended credit facility and
equity investments will provide the company with the financial resources to
pursue its growth strategy and continue to provide its customers with superior
service on a global basis.
    J.L. French Automotive Castings, Inc., is a leading global designer and
manufacturer of highly engineered aluminum die cast automotive parts including
oil pans, engine front covers and transmission cases.  The company has
manufacturing facilities in Sheboygan, Wis.; Grandville, and Benton Harbor,
Mich.; Glasgow, Ky.; San Andres de Echevarria, Spain; Saltillo, Mexico; as
well as five plants in the United Kingdom.  The company is based in Sheboygan,
Wis. and has its corporate office in Minneapolis, Minn.
    This press release contains forward-looking statements that are subject to
risks and uncertainties.  These statements often include words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate," or similar
expressions.  These statements are based on certain assumptions that the
company has made in light of its experience in the industry as well as its
perspective of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the
circumstances.  Actual results may differ materially from the anticipated
results because of certain risks and uncertainties, including but not limited
to (i) expected synergies, economies of scale and cost savings from the
company's acquisitions not being realized or realized within the expected
timeframes; (ii) unanticipated difficulties servicing the substantially higher
level of indebtedness at the company, (iii) costs or operational difficulties
related to integrating the operations of the acquired entities with those of
the company being greater than expected; (iv) labor disputes involving the
company or its significant customers, (v) risks associated with conducting
business in foreign countries, and (vi) general economic or business
conditions affecting the automotive industry, either nationally or regionally,
being less favorable than expected.