---

Owosso Announces the Sale of a Timer and Switch Product Line

8 December 2000

Owosso Corporation Announces the Sale of a Timer and Switch Product Line

    KING OF PRUSSIA, Pa., Dec. 7 Owosso Corporation today announced that it had completed the
sale of the assets associated with the Timer and Switch line of its M.H.
Rhodes division to Capewell Components Company LLC, a diversified manufacturer
of military and industrial products.  Capewell acquired the assets for cash of
approximately $2.0 million and assumed $400,000 in liabilities.
    Fiscal year 2000 sales for this product line were approximately
$5.7 million.
    George B. Lemmon, Jr., Owosso's president and chief executive officer,
commented, "The sale of these assets is consistent with Owosso's plan to
dispose of its non-core businesses.  The proceeds from this sale and the
anticipated future sales will be used to reduce our outstanding debt."