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MascoTech, Inc. and Simpson Industries, Inc. Complete Merger

18 December 2000

MascoTech, Inc. and Simpson Industries, Inc. Complete Merger

    TAYLOR, Mich., Dec. 15 MascoTech, Inc., which is
controlled by Heartland Industrial Partners, L.P. and its co-sponsor, CSFB
Private Equity, announced today that a subsidiary of MascoTech completed a
merger with Simpson Industries, Inc.  As a result of the merger, each
outstanding share of Simpson common stock was converted into the right to
receive $13.00 in cash per share.  Holders of record of Simpson common stock
as of today will receive written instructions on how to surrender their shares
of common stock for payment.  Shares of Simpson Industries will cease trading
on the Nasdaq National Market as of the close of the market today.  As a
result of the merger, Simpson Industries will be a subsidiary of MascoTech.
    The value of the transaction, including the assumption of debt, was
approximately $365 million.