Profiles

ABEX FRICTION PRODUCTS (FEDERAL-MOGUL CORP.)October 31, 199862PZ

INTERNET: http://www.federalmogul.com

COMPETITIVE TYPE: Manufacturer

MAJOR PRODUCT CLASSES: Drive Train (Friction Material

LOCATIONS:

Headquarters - Hampton, NH (Pneumo Abex Corp.)

Branches -

Abex Friction Products: Hayward, CA; Salisbury, NC; Winchester, VA; and Cambridge, Ontario,Canada. (9/93 - D&B)

----Sales Office -

Pneumo Abex Corp., Abex Friction Products Div., Troy, MI; employs one. (10/93 - D&B)----

Believe Abex had some sort of operation in Marietta, GA that is no longer in existence. (9/93)

EMPLOYMENT:

1993 = 3,200 Pneumo Abex Corp./Abex Inc. (9/93 - D&B)

SALES:1991 = $704.0M Pneumo Abex Corp./Abex Inc. (9/93 - D&B)1992 = 728.4M Pneumo Abex Corp./Abex Inc. (9/93 - D&B)

(1st qtr.) 1993 = 159.0M Pneumo Abex Corp./Abex Inc. (9/93 - D&B)

The increase in sales for 1992 was attributed to a $41.1 million increase in sales in the company'sIndustrial Products segment. The increase in sales in the company's Industrial Products segment reflectsa 9.3% increase in net sales at Friction Products Division (FPD). Sales increased in both originalequipment markets and aftermarkets at FPD. (9/93 - D&B)

----The decrease in sales for the first quarter of 1993 was partially offset by increased sales of brakematerials for cars and trucks (9/93 - D&B)

HISTORY:

1959 - Business started.1984-88 - Owned by IC Industries Inc.1994 - Cooper Industries acquired Abex Friction Products Div. of Abex Inc., Winchester, VA, in

late 1994. Abex manufactures asbestos-free brake material for a variety of markets,including heavy-duty on-highway and off-road.

1998 - Federal-Mogul completes acquisition of Cooper Automotive including Abex Friction

Products. On October 9, 1998, Federal-Mogul Corporation reported they had completed theacquisition of Cooper Automotive, a business unit of Cooper Industries, Inc., for $1.9billion.

Cooper Automotive had 1997 revenues of $1,873 million and operating income ofapproximately $190 million before nonrecurring items. Their principal products include:brakes and friction, lighting, chassis parts, ignition and wiper blades. Abex FrictionProducts, is included in this group.

Cooper Industries, a manufacturer of electrical products, tools and hardware, isheadquartered in Houston, Texas, and had 1997 revenues of $5.3 billion. Additionalinformation about Cooper is available on the company's World Wide Web site:www.cooperindustries.com. (10/8 & 9/98 - PRNewswire)

PRODUCTS:PRODUCT FEATURES:QUALITY:

Abex Corp., Friction Products Group, Winchester, VA, is a supplier to Cat for shoe brakes, but notcertified. (9/93 - A.L. Affolter, Cat Quality)

MARKETING:PRODUCT SUPPORT:WARRANTY:PRICING:

No information in either Parts Pricing's CIS system or the Competitive Parts Report (CPR) system.(9/93)

DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

Territory is international. (9/93 - D&B)

GENERAL:

Caterpillar supplier Raymark Friction Co. believes the biggest manufacturers that sell dry brakecomponents to the aftermarket are Champion Friction Co., Motion Control/Carlisle, Abex, ThermosetInc., Ferracto, Stamco, and Scanpac. (6/93 - G.K. Springborn, P&SM, DT)

----Minor supplier to Caterpillar (9/93 - G.L. Miller, Central Purchasing)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: September 10, 1993 (Parent)DUNS (D&B NUMBER): 19-417-3787 Parent, Pneumo Abex Corp.

SIC (CODES): 3812, 3535, 3499, 3594LAST PROFILE REVIEW/UPDATE: October 6, 1993 (Added News, dated 10/31/98)

AMERICAN CRANE & TRACTOR PARTS INC.October 31, 199921YA

INTERNET: http://www.actparts.com

COMPETITIVE TYPE: DistributorRebuilder

MAJOR PRODUCT CLASSES: Undercarriage Drive TrainEngine HydraulicsGET

LOCATIONS:

Headquarters - Kansas City, KS----

According to http://www.machinerytrader.com/americancrane/index.htm AC&T claims a 70,000 sq. ft. facility with anadditional 15 acres of outside storage. (2/97)

----AC&T claims to have a warehouse in St. Louis. (AC&T Brochure received 9/96, effective date unknown)

----Related Concerns:

- Tri-State Tank Kansas City, KS- Helm-Paul Development Co. Kansas City, KS- Garsite/TSR Kansas City, KS- Tri-State Refueler Co. Kansas City, KS- TSI Holding Inc. Kansas City, KS

Intercompany relations for the above are confined to sharing Melvyn Paul as a principal. (2/98 - D&B)

EMPLOYMENT:

1986 = 21 (6/86-D&B)1988 = 27 (3/89-D&B)

Jul 1991 = 40-45 (8/92-D&B)Aug 1993 = 40-45 (11/93-D&B)Aug 1994 = 40-45 (12/94-D&B)Jun 1995 = 40-45 (1/96-D&B)Sep 1996 = 40-45 (2/97-D&B)Feb 1998 = 40-45 (2/98-D&B)

Employees vary with workload. (2/98 - D&B)

----Chief Executive is Jeffrey A. Weiner (President, Treasurer). Melvyn Paul is Vice President. (2/98 - D&B)

----AC&T reportedly has one PSSR on the road. (5/88 - KC District)AC&T also utilizes telemarketing reps, but field reports on the number is contradictory; 6 (1/88), 4 (5/88), and 10(3/89).

SALES:

Fiscal year ends 12/31.----

1986 = $4,000,000 projected (6/86 - D&B)1991 = 9,067,961 (8/92 - D&B)1992 = 9,849,965 (11/93 - D&B)1993 = 9,355,291 (1/95 - D&B)1994 = 8,813,092 (1/96 - D&B)1995 = 10,564,163 (2/97 - D&B)1996 = 11,900,178 (2/98 - D&B)

WORTH:

1988 = $<577,493> (8/92 - D&B)1989 = <416,797> (8/92 - D&B)1990 = 13,563 (8/92 - D&B)1991 = 512,379 (8/92 - D&B)1992 = <425,653> (11/93 - D&B)1993 = 131,345 (1/95 - D&B)1994 = 106,161 (1/96 - D&B)1995 = 597,841 (2/97 - D&B)1996 = 839,286 (2/98 - D&B)

HISTORY:

1982 - July, Business started as a used-equipment broker.1985 - June, Relocated from 3500 Manchester Trafficway to 4601 Van Brunt Extension--began to more

aggressively pursue the will-fit and used-parts businesses.1987 - Ownership change, purchased by Jeffrey A. Weiner and Melvyn Paul.1994 - June, relocated from 4601 Ban Brunt Extension, Kansas City, MO to 2200 State Line, Kansas City, KS.

(1/95 - D&B)

PRODUCTS:

Specializing in Caterpillar parts and components. Offers new replacement, used and rebuilt parts. AC&T rebuilds mostmajor components. (5/98 - Internet)

----

Invertory value as of December 31, 1996 is $2,403,562. (2/98 D&B)----

Call or fax for instant quotes and same day shipments on new replacement, rebuilt and used Caterpillar and Bucyrus-Erie parts. Hundreds of rebuilt components on the shelf including transmissions, torque convertors, pumps, finaldrives, differentials, and much more all tested before shipping. (2/97 - Machinery Trader, Internet)

----Wholesales new and used crane and tractor components and parts for general construction equipment (100%). (2/98 -D&B)

----AC&T offers new, reconditioned, used, and attachments. Below is an overview of each:

New Replacement Parts - AC&T stocks a variety of new parts, including transmission, final drive, and enginecomponents, oil cooler and radiator cores, hard bars, hydraulic cylinder seal kits, trunnion balls and other dozer bladeparts, oil pumps, reversible fans, bucket control levers, bearings, and gaskets. AC&T supplies new undercarriage partsfor Caterpillar, John Deere, International, Fiatallis, Clark-Michigan, and many other makes. AC&T also supplies newparts, from the turntable down, on a variety of cranes, draglines and shovels for Bucyrus-Erie, Northwest, American,Linkbelt, Manitowoc, and others. In addition to the thousands of new parts AC&T stocks, they will try to locate partsfor all other makes and models. (1/89 - AC&T Customer Letter)

Reconditioned Replacement Parts - American Crane & Tractor Parts supplies a variety of replacement parts asreconditioned. When used equipment is disassembled, some parts are worn too badly to be sold. If possible, the partis reconditioned. If a customer needs a final drive off a D9 dozer and doesn't have the time or manpower torecondition a good take-off, American Crane will replace all the bearings and seals and put a 90-day warranty on thecomplete final drive. Most of American Crane's rebuild parts offer the 90-day warranty (from date of installation), butthere are exceptions, like crankshafts-- most carry six-month warranties. American Crane requires each core beshipped to them prepaid and assembled regardless of the condition of the core, there are NO CHARGEBACKS! (1/89- AC&T Customer Letter)

Used Replacement Parts - Field mechanics constantly disassemble used equipment and the used parts are thoroughlycleaned prior to inspection for quality. The parts are then graded based on the level of serviceability remaining. Forexample, a complete front idler is measured and may then be supplied as having 60% wear left. An idler with only30% wear left may still be available for sale and it is priced accordingly. A final drive may be supplied as a goodtakeoff in which case it's opened and inspected and AC&T guarantees the major internal components to beserviceable, but do not guarantee bearings and seals. AC&T usually supplies engines as good running take-outs thatare tested on a dynometer prior to shipping. AC&T provides a 30-day warranty on dyno'd engines (from date ofinstallation) against major failure. (1/89 - AC&T Customer Letter)

Attachments/Options - Availability of attachments, including buckets, rippers, blades, drawbars, winches and fairleadsvaries and pricing is based primarily on condition. Often in order to supply a good blade, AC&T will reface it with3/8" T-1 steel. Other parts like hitches or hitch brackets are available as well. AC&T has a variety of OROPS andEROPS and many different types of cabs. AC&T will try to locate what the customer needs if they don't have it.(1/89 - AC&T Customer Letter)

----

In reviewing information from P.I.E.R.S. (Port Import Export Reporting Service) there is no evidence to indicate thatAC&T is a direct importer from any manufacturers. AC&T is importing components from two end users in the

Bahamas, presumably for rebuild and return. (8/92 - P&SM, Mkt. Res.)----

Brands AC&T has reportedly carried and effective date of information:

Brand Date (Source*) Description

Genuine Caterpillar 1995 (CPRs) DT, HYDAmerican Alloy 1/88 U/CSimmel 1/92 (CPRs) U/CBerco 1996 (CPRs) U/CIntertractor 1/94 (AC&T Video) U/C SegmentsIPD 1/88 --Italtractor 1996 (CPRs) U/CEsco 1994 (CPRs) GETValk Mfg. Co. 1995 (CPRs) GETFord Steel Co. 1995 (CPRs) GETAmerican Crane Equipment** 7/91 (CPRs) Eng.AE Clevite 1/94 (AC&T Video) Eng.Ghinassi 7/91 (CPRs) Eng., Hyd, DTNAPA 1995 (CPRs) Eng.SIRT 1/91 (CPRs) DTFederal-Mogul 1/87 Bearings"Bulldog" (Heavy Eq. Pts. Co.) 5/86 Seals & GasketsNTN-Bower Corp. 10/91 (CPRs) A.F. BearingsVickers Inc. 10/90 (CPRs) Hyd.Reco Italia 1/92 (CPRs) Hyd. CylindersSuperior 1996 (CPRs Hyd.Regal Equipment** 1996 (CPRs) Gen., Hyd., DT, Oth.Ajax 1/94 (AC&T Video) HardwareOFM (Mosca) 1/94 (AC&T Video)Schwitzer 1/94 (AC&T Video) TurbosTimken 1/94 (AC&T Video) AF BearingsVickers 1/94 (AC&T Video) Hyd. Pump/MotorFP Phillips Gasket 1996 (CPRs) Gaskets

*Source is P&MR's Competitive Information Library unless noted.**Not a manufacturer.

QUALITY:

"Each part we sell is backed by our 100% complete satisfaction guarantee." (5/98 - Internet)

Parts Competitive Bulletins (PCBs) and/or Competitive Test Reports (CTRs) are available on some of the brandsAC&T carries. (2/97)

MARKETING:

New Internet online quote & order system 10/31/99 - AC&T recently announced their all-new Internet e-commerceQuote & Order System. They have redesigned their site, making it faster, flexible, more efficient and easy to use. Userequires registration. Site includes real-time pricing and availability. Frequently Asked Questions/Answersinformation is available at http://www.actparts.com/ACTP.ASP?WCI=GotoFAQ&WCU#Q8A (10/99 - AC&T,http://www.actparts.com/)

----AC&T exhibited at the following trading shows: the Expo Mineria '95 trade show, October 18-21, 1995, in Acapulco,Mexico; MINExpo International '96, September 9-12, 1996, in Las Vegas, Nevada; and CONEXPO-CON/AGG '96,March 20-24, 1996, Las Vegas, Nevada.

----Advertises in Rock and Dirt magazine. (6/94)

PRODUCT SUPPORT:

Offers Toll Free 800 Number. (1/94-AC&T Video)

WARRANTY:

Warranties on all new parts meet or exceed OEM warranties; complete warranties on all rebuilt components; usedparts include warranties which guarantee complete satisfaction or we pay freight both ways. (2/97 - MachineryTrader, Internet.

----Return freight policy--anything AC&T ships which doesn't meet the condition as represented, can be returned; willpay freight both ways. Additional warranty information is overviewed under the Reconditioned Replacement Partsand Used Replacement Parts subtitles of the PRODUCTS section. (1/89 - AC&T Customer Letter)

PRICING:

Transaction level price observations are available in the Competitive Parts Reports (CPR) portion of PMIS. (2/97)


AC&T claims parts and components can be shipped anywhere in the world. (2/97 - Internet)----

The following Caterpillar dealers have submitted Competitive Parts Reports (CPR) during the latest 8 quarters, as of2/97:

NACD- West Texas Eq. - Darr Equipment- Dean Mchry. - Altorfer Mchry.- Southworth-Milton COSA- Fabick - Oasis Trading- Thompson Tractor CACO

- Tracmac----

Sells to 25 countries; 10,000 customers. (1/94-AC&T Video)----

Information obtained from P.I.E.R.S. (Port Import Export Reporting Service) indicates AC&T is exporting to the

following ports:

- Jeddah, Saudi Arabia = 3 shipments (5/20/92, 2/25/92, 10/18/91), 27,755 pounds total cargo weight, assortedspare parts for Caterpillar equipment.

- Damman, Saudi Arabia = 2 shipments (11/14/91 & 4/18/91) 2,579 pounds crane parts and 10,150 pounds roadbuilding machinery parts.

- Abu Dhabi, Arab Em = 1 shipment (12/12/91) 2,600 pounds of extension cylinders for Grove crane.- Cartagena, Colombia = 1 shipment (10/18/91) 1,800 pounds of crane boom- Chanaral, Chile = 1 shipment (3/22/91) 582 pounds of mower parts.- Freeport, Bahamas = 7 shipments (from 1/9/91 - 3/17/92) 124,940 pounds tractor parts and used tractor parts.

(8/92 - P&SM, Mkt. Res.)

GENERAL:

"D" Competitor (major distributor) for DT Gears, etc. (4/00)----

Added to Caterpillar Export Services (CES) Reseller List on Feb. 21, 1992--Caterpillar dealers should not sell partsto this competitor for export resell.

----Regular member of Independent Distributors Association (IDA). (1995 - Membership Roster)

----Member of Telequip national locating and selling network for construction equipment salvage yards. (6/91 -Membership Listing)

----Member of Peed Parts & Machinery Network. (2/97 - Internet Membership Listing)

APPARENT MARKETING STRATEGY:

Primary focus has been on mines: 637s, D8s, D9s, etc. (3/89 - NACD, Peoria District)

ASSESSMENT OF STRENGTHS:

Offers new, used, and rebuilt components. Also, AC&T uses locating services to find "even the most difficult tosupply parts." (1/89 - AC&T Customer Letter)

ASSESSMENT OF WEAKNESSES:

Not a direct importer, causing AC&T to pay more for their new parts. (8/92 - P&SM, Mkt. Res.)----

Warranty is perceived as a weak spot. Heard several instances where American Crane did not stand behind theirproduct. (3/89 – Dan Frey, Dean Machinery)

FUTURE OUTLOOK: Financial condition good. (2/98 - D&B)LAST D&B: February 14, 1998DUNS (D&B NUMBER): 06-533-8873SIC CODE/DESCRIPTION:

50 82 Wholesale trade--construction and mining machinery and equipmentLAST PROFILE REVIEW/UPDATE: May 7, 1998 (Minor update 10/31/99)

APPLIED INDUSTRIAL TECHNOLOGIES INC. (Name changed from Bearings Inc., 1/1/97)June 14, 199521GI

INTERNET: http://www.appliedindustrial.com

COMPETITIVE TYPE: Distributor

MAJOR PRODUCT CLASSES: EngineDrive TrainHydraulicsGeneral UsageNot Elsewhere Classified

LOCATIONS:

Headquarters - Cleveland, OH

At headquarters location 3600 Euclid Ave. and at neighboring 3634, 3940 and 3950 Euclid Ave.; owns four separatetwo story masonry buildings with about 98,000 sq. ft. of usable floor space. To the rear of the parking area is a smallmasonry building housing the company's spindle laboratory. (3/93 - D&B)

Branches- Dixie Bearings Inc.- Bruening Bearings Inc.- King Bearing Inc.- Mainline(6/95)

EMPLOYMENT:

1981 - 2,800 (220, headquarters) (7/81 - D&B)1983 - 3,000 (250, headquarters) (6/83 - D&B)

Jun 1991 - 4,225 (1993 Annual Report)Jun 1992 - 4,050 (275, headquarters) (3/93 - D&B)Jun 1993 - 3,986 (1993 Annual Report)Jun 1994 - 4,066 (1994 Annual Report)

SALES: Fiscal year ends June 30.----

Net IncomeYear Sales (Loss) Worth

1984 $451,955,000 $11,002,000 -- (1993 Annual Report)1985 495,529,000 11,011,000 -- (1993 Annual Report)1986 490,249,000 2,244,000 -- (1993 Annual Report)1987 490,995,000 6,247,000 -- (1993 Annual Report)1988 542,883,000 14,948,000 -- (1993 Annual Report)1989 630,281,000 18,313,000 -- (1993 Annual Report)1990 651,271,000 12,201,000 135,338,000 (3/93 - D&B)1991 814,000,000 4,282,000 134,203,000 (3/93 - D&B)1992 817,813,000 (1,666,000) 128,830,000 (3/93 - D&B)1993 831,432,000 8,927,000 -- (1993 Annual Report)

1994 936,254,000 12,687,000 -- (1994 Annual Report)1995 1,030,000,000 Projected as of May 12, 1995 (5/95 Value Line)

----Sales increased in 1994 pricinpally due to volume increases and the acquisition of Mainline Industrial Distributors,Inc. (1994 Annual Report)

----Sales increased in 1993 primarily due to price increases. (1993 Annual Report)

----Results for fiscal 1992 were affected by the persistent weakness in the industrial economy. Sales increased in 1992primarily from price increases of approximately 2%. (1993 Annual Report)

----During fiscal year 1992 Bearings recorded a restructuring charge of $7.8 Million for closing four of elevendistribution centers, the consolidation of 16 branches, two rubber product service centers, an international facility,and for the reorganization of the sales regions and administrative functions. (1993 Annual Report)

----Export business was less than 2% of net sales in fiscal 1992. (3/93 - D&B)

----Recently Settled Litigation Won't Hurt Bearings Inc. 8/92 - In June, a California jury made a $32.4 million awardagainst Bearings Inc.'s King Bearing unit. But this suit was ongoing when Bearings acquired King, and the dealensured at that time that the company wouldn't be liable for any damages resulting from the litigation. (8/14/92 -Value Line Report)

----Finishes Fiscal 1992 On A Down Note 8/92 - Fiscal 1992 was one of the worst years for Bearings Inc. in the past twodecades. The company continues to suffer from weak economic conditions, which have lowered operating rates atthe nation's factories, and have hence reduced demand for the bearings and power transmission products thatBearings Inc. distributes.

A high debt load is still a problem. In 1990, the company acquired King Bearing in an effort to expand itsgeographic base, broaden its product line, and boost volume. Shortly after the purchase, market conditionsdeteriorated, and the debt taken on to finance the acquisition has put a damper on earnings. Low short-term rateshave helped offset the effects of the elevated debt levels, but the company would be at the mercy of the markets ifshort-term rates started to rise.

The company, however, is poised to fare better in fiscal 1993. Bearings incurred a $7.8 million pretax restructuringcharge in the June period, reflecting warehouse consolidations and overhead reductions. The savings from this moveshould provide a nice bottom line boost for 1993. Moreover, if the economy gathers momentum over the next twelvemonths as expected, Bearings' volume-sensitive earnings will likely grow. And with imports being restricted, thecompany will likely be able to put through price increases. (8/14/92 - Value Line Report)

----Net Income Falls/Trend Likely to Improve 2/91 - Net income in the first half of fiscal 1991 (year began July 1)plummeted to a fraction of the year earlier level. Much of the shortfall can be attributed to the acquisition of KingBearing on June 29, 1990. This company was barely profitable at the time of its acquisition, so the combination oflower margins, higher interest expenses, and a weakening economy continue to batter the bottom line.

Analysts look for the profit trend to improve in coming quarters. Bearings Inc. has now completed the consolidationof 30 redundant branches. The benefits of the elimination of duplicative corporate functions will begin to be felt inthe 4th fiscal quarter. Also, Bearings Inc. is reducing inventories now that the company's automatic order entrysystem is up and running and the supply of bearings is dependable.

The U.S. economy is currently in a recession. If this lasts much longer than mid-year, 1991, the anticipated earningsrecovery would be postponed. (2/15/91 - Value Line Report)

HISTORY:

1923 - Bearings Inc. founded as Ohio Ball Bearing Co.1927 - First branch opened in Youngstown, Ohio1937 - First branch outside Ohio opened in Indianapolis, IN1947 - Dixie Bearings started1952 - Merged with Pennsylvania Bearings, Indiana Bearings and West Virginia Bearings to become Bearings

Specialists, Inc.1957 - Dixie Bearings, Incorporated brought into the Company as a wholly-owned subsidiary.1965 - Bruening Bearings started

- Company's stock appeared on the New York Stock Exchange1967 - Acquired three corporations and formed a West Coast Division1983 - Several single branch acquisitions in California1989 - Opened the Jon R. Cunin Distribution Center in Carlisle, OH. Reportedly Bearings' largest distribution

center.1990 - June, completes the acquisition of Corona, CA headquartered King Bearing. The purchase of King will

improve the company's penetration for far western and southwestern markets, enhancing Bearings' abilityto provide fast delivery. King has 94 branches, and estimated annual sales of $200M, increasing BearingsInc.'s sales by approximately one-third. (5/90 - Value Line Report)

1994 - March 10, Bearings exchanged 196,000 shares of their common stock for Mainline Industrial DistributorsInc., Appleton, WI. Mailine is a distributor of drive systems, rubber products and bearings. (1994 AnnualReport)

PRODUCTS:

Bearings, Inc. is focused on the distribution of Maintenance Repair Operation (MRO) products and services to theindustrial aftermarket in North America. Bearings, Inc. is one of America's largest distributors of replacementbearings, electrical and mechanical drive products, fluid power products, industrial rubber products, generalmaintenance products and related specialty items. In all, the company carries more than 800,000 line items producedby more than 2,500 manufacturers. (1994 Annual Report)

----Comparing 1993 with 1989, Bearings Inc. has changed its product mix as a percent of total sales.

- Bearings decreased approx. 11%.- Drive Systems increased approx. 2%.- Specialty Maintenance Products increased approx. 1%.- Industrial Rubber increased approx. 5%.- Fluid Power increased approx. 2 1/2%. (1993 Annual Report)

----A customer requested a quote from Bearings Inc. on 112 part numbers. They were only able to offer 44 of them(39%). The requested parts were the consists of the following five Caterpillar bearing kits - 7X7474 (D8N finaldrive), 7X2875 (789 trans.), 3E7478 (776B/777B trans.), 7X0784 (980C trans.), 9X6537 (D7H trans.) and 10individual self-aligning bearings. Bearings Inc. was unable to supply any of the 10 self-aligning bearings. (4/93 -GKSpringborn, P&SM)

----Sources in Lexington, KY and Knoxville, TN say that Bearings Inc. does not offer bearing kits for Cat applications.(4/93 - GKSpringborn, P&SM)

----Policy is to buy and distribute American made products whenever it can. (9/91 - The Plain Dealer, BusinessNewspaper)

----The Bearings Inc. group distributed products for many manufacturers, including the following:

- American Roller Bearing Co. - INA- BCA - INA/Andrews- CR Services - Kaydon- Dayco Products Inc. - National Seals- Fafnir - Parker Seal- FAG - Rexnord- Garlock Bearings - SKF- Garlock Seals - SNR- Gates - Timken Co., The- Goodyear - Torrington

- Weatherhead

A complete list by manufacturer or by product is in the Bearings Inc., Catalog M in P&SM's Competitive

Information Library. (3/93)----

Looking To Diversify Its Products 10/91 - Bearings Inc., whose maintenance and repair business has been eroded bythe recession, hopes to expand into faster-growing product lines, including fluid power--such as hydraulic hoses--andspecialty rubber items. Bearings Inc. will stick to its policy of buying and distributing American-made productswhenever it can.

Reportedly, the market for bearings has been growing at 2% a year, far more slowly than the 8-10% growth rate forsome other industrial items. Sales of bearings account for about 55% of the company's total sales, but Bearings Inc.'sacquisition of King Bearing Inc., an industrial distributor base in California has given it a much greater presence inagricultural, food processing and pulp and paper industries. King's product expertise is expected to add to BearingsInc.'s sales of fluid power parts and specialty rubber products such as conveyor belts.

In its overall business, Bearings Inc. has been reducing its number of distribution centers, focusing on fewer butlarger, more efficient centers. The company had about 15 centers, but it has closed centers in North Carolina,Massachusetts, and Florida. The goal is to end up with 4-6 centers, serving 341 branches. Bearings Inc. operates in37 statesand has 4,200 employees.

Improvements to logistics have permitted next day availability to many customers, while the firm stands by to delivercritically needed parts on a same-day basis. (9/13/91 - The Plain Dealer, Business Newspaper).

PRODUCT FEATURES:

Regarding how Bearings Inc. adds value to the products it sells - "In order to grow in today's competitive environment,a distributor cannot survive simply by being an 'order-taker'. Today's leading manufacturers want distribution partnerswho understand the issues associated with maintenance and repair, and apply resources to solving problems - oftenbefore they occur. So Bearings Inc.'s future growth depends on going beyond simply selling and delivering industrialproducts. We also provide maintenance training, inventory management and analysis, technical knowledge andproduct application skills, purchasing management reports, quality reports and more." (1994 Annual Report)

QUALITY:

In March 1994, Bearings Inc. launched its quality seminar program for customers, which is designed to share thecompany's quality expertise on a first-hand basis. More than 50 key customers attended the initial program --"Applying Total Quality Management to Purchasing" -- held in Pittsburgh. As part of Bearings' total qualitymanagement philosophy, virtually every branch coast-to-coast underwent stringent quality audits. Of 339 branches,223 are now rated quality "green" by tough auditors. Quality "green" is the way Bearings recognizes facilities anddepartments for integrating quality processes in customer satisfaction and cycle-time areas. Bearings Inc. associatesreceived an aggregate of 200,000 hours of additional training. Moreover, more than 1,200 quality improvementteams have been put into place across the company solving problems and addressing issues of importance tocustomers. To date, 4,900 actionable "idea briefs" were submitted by employee associates, many of which have beenimplemented. (1994 Annual Report)

----Like all successful quality programs - especially those that provide a competitive differentiation - Bearings beginswith the top of the organization and involves all 3,986 associates nationwide. Every associate is a member of at leastone quality improvement team. In the Cleveland headquarters alone, Bearings has more than 150 qualityimprovement teams currently working on best practices so that corporate functions are lean and very cost-effective.

In the last year Bearings has generated more than 1,000 ideas from the continuous improvement process. The BICenter for Quality was created to anchor the company's quality efforts and provide a database of information on thesuccess of Total Quality Management (TQM).

Toward the goal of 100 percent error-free and on-time, Bearings Inc. currently is about 99 percent on-time and 99.2percent error-free. Bearings believe world-class is 99.8 percent, and that's where Bearings is headed. (1993 AnnualReport)

----The following is a quality statement from Bearings Inc.'s 1991 Catalog M: "We strive to achieve quality levels thatmeet or exceed customer expectations. It is our firm resolve to sell only the finest quality, factory fresh products, and

to perform our role in the distribution of these products with 100 percent error-free, on-time performance.

Our commitment to continuous quality improvement never stops, and is documented through a formal qualityprocess - Quality Assured Distribution (QAD). This program begins with our top management and is supported byeach employee in our organization.

We now have pilot quality programs in place at select groups of distribution centers and branches around the UnitedStates. These pilot programs include the creation of Continuous Improvement Teams, thoroughly educated on thequality improvement process, and empowered to work independently to improve quality. We have already achievedsignificant improvements through this process.

Nationally, we track many aspects of our business including fill rates and returns. We even track the performance ofour vendors and evaluate their service in supporting us. We have embraced the culture of quality and made itours...and yours."

MARKETING:PRODUCT SUPPORT:

Electronic Data Interchange (EDI) between Bearings Inc. branches and customers is being adopted widely to reducecustomer purchasing costs, improve accuracy and speed order processing and delivery time. The number of EDIinstallations with customers grew by 39 percent in fiscal 1993.

----Product specialists are available to branches to help troubleshoot particularly complex customer issues. (1993Annual Report)

WARRANTY:

Warranty Policy - products are sold only with such warranties as may be extended by the manufacturer of theproduct. We make no other warranty and there are no implied warranties of merchantability or fitness. In no eventare we responsible for incidental and consequential damages, or for more than the allocable price of the defectiveproduct. Buyer is responsible for installation and use in accordance with manufacturer's instructions. Our employeesare not authorized to alter this Warranty Policy. All sales are subject to our standard terms and conditions of saleunless other specific terms are expressly agreed upon.

Disclaimer: While dimensions in this catalog are as accurately compiled as possible, no responsibility can beassumed for typographical errors. The right is also reserved to change dimensions without notice. (1991 - BearingsInc., Catalog M)

PRICING:

Bearings Inc. does not have a hard copy price list. All prices are on-line. (4/93 - GKSpringborn, P&SM, DT)----

10% of balance payable in 15 days, remaining balance 30 days from date of invoice. (3/93 - D&B)


At year-end 1994 Bearings had 339 branches, seven distribution centers and 20 mechanical, fluid power andindustrial rubber service shops in 40 states. Branches are operated under the Bearings Inc., Bruening Bearings, DixieBearings, King Bearing and Mainline names.

During fiscal 1994, 21 new branches were opened or acquired across the country. Three branches were consolidatedand two closed during the year.

The Mainline acquisition added nine branches to Bearings' network in Wisconsin, Minneapolis and Chicago.

In addition, smaller acquisitions during the year added four branches to supplement King Bearing branches opened inthe Greater Chicago market in 1993. (1994 Annual Report)

----Regarding inventory turns, Bearings' goal is to achieve an annual inventory turnover rate of six times by 1998,

double the current rate of three times. A series of aggressive actions are in place to stimulate this improvement inasset utilization. They include reducing slow-moving bearing inventory; improving order-to-fulfillment cycle timesfrom manufacturers; increasing coordination and sharing of in-stock items among locations; reducing the number ofvendors; reducing the effects of overlapping product lines; and establishing active data interchanges with vendors tofacilitate just-in-time shipments. As fiscal 1994 ended, Bearings created a new logistics group to develop andimplement strategies for managing inventories, including purchasing, replenishment, traffic and distribution centermanagement. (1994 Annual Report)

----All 44 part numbers quoted by Bearings Inc. listed a 10 day "quoted leadtime." (4/13/93 - GKSpringborn, P&SM)

----Bearings Inc. is America's largest distributor of replacement bearings and power transmission components. (2/93 -Value Line)

----Bearings Inc. and its subsidiaries distribute their products in 37 states, per their 1991 catalog.

Below is a breakdown by operating unit and state:

- Bearings Inc.

Connecticut Montana Rhode IslandDelaware New Hampshire TexasIdaho New Jersey VermontIndiana Ohio WashingtonMaine Oklahoma West VirginiaMaryland OregonMassachusetts Pennsylvania

- Dixie Bearings Inc.

Alabama Louisiana TennesseeArkansas Mississippi VirginiaFlorida North Carolina and also Puerto RicoGeorgia South Carolina

- Bruening Bearings Inc.

Illinois MissouriKentucky New York

- King Bearing Inc.

Arizona NevadaCalifornia New Mexico

(1991 - Bearings Inc., Catalog M)----

The job of keeping track of all the Bearings Inc. group inventory is done by their OMNEX 2.0 computer systemwhich puts their entire inventory at the finger tips of their local branches. (1991 - Bearings Inc., Catalog M)

GENERAL:

Ranked as a 'D' DT (AF Bearing) Competitor. (4/00)----

Publicly held corporation. Stock symbol AIT effective 7/3/2000.----

Outside directors include the president of The Lubrizol Corp., Wickliffe, OH and president/chief operating officer ofEaton Corp., Cleveland, OH. (3/93 - D&B)


Bearings Inc. is singularly focused on the distribution of Maintenance Repair Operation (MRO) products andservices to the industrial aftermarket in North America. Goal is to be the best in distribution. (1993 Annual Report)

----Delivering their best - Bearings Inc. believes that customer satisfaction is the key to growing their business. It canonly be achieved through employees dedicated to meeting and exceeding customers' needs and wants. (1991 -Bearings Inc., Catalog M)


Becoming a "one-stop-shopping" source for Maintenance Repair Operation (MRO) products. (6/95)----

Anti-dumping legislation currently in place makes the threat of foreign competition less than it was in previousrecoveries. (11/91 - Value Line)


Narrow-margined business relies heavily on volume for profitability. (2/92 - Value Line)----

Apparently not a single source for all antifriction bearings needs. See 4/93 information in Products section. Also, donot offer bearing kits for Cat applications. (4/93 - GKSpringborn, P&SM)

FUTURE OUTLOOK:

Regarding Bearings Inc.'s growth strategy - "While we will continue to maintain and develop our current branchnetwork and expertise in core bearing technologies, a greater percentage of our sales in the future will derive fromdrive products, rubber products, industrial specialties and fluid power products--all of which represent a biggermarket and carry higher margins than do bearings. Most of our customers who currently rely on us for their bearingneeds have substantially greater requirements forproducts and services in these other technologies. While the total U.S. market for replacement bearings is about $1.7billion a year, the marketplace for other technologies we offer is about $18.3 billion annually."

Regarding acquisition plans - "Our acquisition growth opportunities are grouped into two areas--to expand intogeographic areas of North America where we do not currently have a presence, and to supplement and strengthen ourposition in specific product lines other than bearings.

Regarding plans to grow the fluid power and industrial rubber businesses - "Our strategy includes providing theseproducts and services to our base of customers who currently rely on us for bearings. In addition, we are investing inthe training and education of our current branch personnel so they can better offer fluid power and rubber technologyand service to customers. In those geographic areas where we do not currently offer the broad range of products andservices in all technologies, we would consider acquisitions of smaller distributors where doing so would help toaccelerate the integration of these products into our existing customer base." (1994 Annual Report)

LAST D&B: March 23, 1993DUNS (D&B NUMBER): 00-790-0129

SIC (CODES): 5085, 5172, 5169, 7699LAST PROFILE REVIEW/UPDATE: June 14, 1995

BENDIXDecember 15, 199921AONEWS

http://www.honeywell.com/

http://www.alliedsignal.com/corporate/our_businesses/index.html#Truck Brake Systems

PARENT, ALLIEDSIGNAL AND HONEYWELL MERGER COMPLETED. NEW NAME IS HONEYWELLINTERNATIONAL INC. 12/15/99

On December 2, 1999, Honeywell International Inc. announced that the merger involving AlliedSignal Inc. and Honeywell Inc.became effective December 1, 1999.

In connection with the merger, AlliedSignal Inc. changed its name to Honeywell International Inc. (12/2/99 - Business Wire)

CORPORATE REORGANIZATION 4/92

The Bendix heavy vehicles systems and Garrett Automotive groups, operating units of Allied-Signal, Inc. have combined tobuild an organization to better serve world heavy vehicle and passenger car engine markets. The new organization will retainboth operating group names. Headquarters will remain in Ohio. The new organization includes four global productgroups:heavy-duty charging and actuation devices, heavy-duty breaking control systems, commercial diesel turbochargers, andpassenger car turbochargers.

Customer marketing and sales activities will also be combined in North America and Europe to support both Garrett andBendix customers with service and support. Worldwide research and development functions will remain separate. (1/92 -Fleet Equipment Magazine)

BERRY BEARING COMPANYApril 24, 199521HR

Subsidiary (100%) of Genuine Parts Company, headquartered in Atlanta GA. Berry operates as a Division of MotionIndustries.

----See internet site for most current information.

INTERNET: http://www.motion-industries.com/


MAJOR PRODUCT CLASSES: Drive TrainGeneral UsageNot Elsewhere Classified

LOCATIONS:

Headquarters - Lyons, Illinois

Branches - All branches, except where indicated, operate the same as the headquarters.

- Addison, IL 1790A Courtland Court- Bourbonnais, IL 811 Larry Power Rd.- Broadview, IL 1920 N. Beach Ave.- Chicago, IL 3900 S. Cicero Ave.- Chicago, IL 3839 S. Normal Ave.- Chicago, IL 26th & Michigan Avenue- Chicago, IL 3825 S. Normal Ave.- Chicago, IL 1900 W. Hubbard St.- Chicago Heights, IL 100 Halstead St.- Countryside, IL 5446 East Ave.- Danville, IL 1250 N. Michigan Avenue- Elgin, IL 786 N. Church Rd.- Elk Grove Village, IL 1345 Landmeier Rd.- Joliet, IL 1223 N. Broadway Ave.- Moline, IL 1920 5th Ave.- Montgomery, IL 1125 S. Lake St.- Niles, IL 3801 Oakton St.- Peru, IL 2017 4th St.- Quincy, IL 312 State St.- Rockford, IL 3483 Lonergan Dr.- Urbana, IL Triumph Drive- Waukegan, IL 800 Glen Flora Ave.

- West Chicago, IL 397A Charles Court- Wheeling, IL 625 Wheeling Rd. (Uses trade-style Quintcities Bearing)- Clinton, IA 1615 Lincolnway St.- Dubuque, IA 12th & Kerper Blvd.- Des Moines, IA 1505 E. Aurora St.- Ft. Madison, IA Jefferson Industrial Park- Muscatine, IA 2011 Grandview St.- Oak Lawn, IL 5400 W. 111th St.- Ottumwa, IA 802 S. Madison Ave.- Waterloo, IA 1512 Falls Ave.

Maintains P.O. Box, Chicago, IL used as a lock box for remittance purposes only.

Subsidiary -

- Bearing Machine & Fabricating Co., Chicago, IL

Affiliates - Intercompany relations except where indicated for all locations below consist of occasional merchandisetransactions and service transactions.

- Berry Bearing Co. Inc. (IN), Hammond, IN, started 1937. Operates as a wholesaler of bearings.- Illinois Bearing Co. (Inc.), Peoria, IL, started 1941. Operates as a wholesaler of mechanical power-driven

machine tools, equipment, supplies, mechanical power transmission equipment and supplies.- Wisconsin Bearing Company Inc. (WI), Milwaukee, WI, started 1933. Operates as a wholesaler of bearings

in Wisconsin.- Bearings Service Company (Inc.) (IN), South Bend, IN, started 1982. Operates as a wholesaler of bearings

and mechanical power transmission equipment.- Bearings Service Company (Inc.) (IL), Marion, IL, started 1942. Operates as a wholesaler of bearings and

mechanical power transmission equipment.- Mountain Bearing & Supply Company (Inc.) (WY), Gilette, WY, started 1975. Operates as a subsidiary of

Bearing Supply Company (Inc.) (MT) and wholesales bearings. Intercompany relations: None reported bymanagement.

- Bearings Manufacturing Company (Inc.) (IL), Chicago, IL, started 1934. Operates as a manufacturer ofspecial bearings.

- Bearing Service Company, Madisonville, KY, started 1942. Operates as a wholesaler of bearings andmechanical power transmission equipment.

- Berry Machine and Fabricating Company Inc. (formerly Mercury Machine and Fabrication Company),Chicago, IL, started 1983. Operates as a heavy machining and machine shop.

(4/95 - D&B)

EMPLOYMENT:

1986 - 500 (11/90 - Duns Market Identifiers)1988 - 500 (11/90 - Duns Market Identifiers)

May 1994 - 1,300 (125 at headquarters) (4/95 - D&B)

SALES:

1986 - $ 52,500,000 (11/90 - Duns Market Identifiers)1988 - $ 55,000,000 (11/90 - Duns Market Identifiers)1992 - $340,000,0001993 - $370,000,000 (4/95 - D&B)

Mar 1994 - $390,000,000 projected (4/95 - D&B)----

The parent company, Genuine Parts Company, reported that its Industrial Parts Group (which is comprised of MotionIndustries Inc. and another subsidiary, Berry Bearing Company), posted sales and operating profit of $1,153,371,000and $96,727,000, respectively, for the year ended Dec. 31, 1993. (4/95 - D&B)

HISTORY:

1920 - Business started by Lester and Gertrude Berry.1993 - January 29, purchased by Genuine Parts Co. for 9.5 million shares of common stock valued at $300.4

million.

PRODUCTS:

Wholesales industrial ball and roller bearings and power transmission equipment (95%), and operates a heavy machineshop (5%). (4/95 - D&B)

----Berry may carry a number of brands, but as of 4/24/95, The Timken Company was the only brand information in theCompetitive Parts Report (CPR) portion of PMIS.

PRODUCT FEATURES:QUALITY:MARKETING:PRODUCT SUPPORT, WARRANTY:

PRICING:

Terms are net 30 days. (4/95 - D&B)----

No list price information in Pricing (P&MR) Dept.'s CIS system as of 4/24/95.----

No transaction level price observations in the Competitive Parts Report (CPR) portion of PMIS as of 4/24/95.


Has 50,000 accounts; sells to manufacturers, machine shops, and every other major industry. Territory is nationwide.(4/95 - D&B)

----Berry Bearing has 95 outlets stretching from Maine to Montana, 13 of them in Chicagoland.

Bearings Inc. and Motion Industries (Berry Bearing) are the only two firms now expanding to a national base. Thenext eight largest have been content with regional markets, though there has been some movement towards jointventures between them. (9/9/93 - Chicago Tribune)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: April 19, 1995DUNS (D&B NUMBER): 00-385-2720

SIC (CODES): 5085 Wholesales Bearings & Power Transmission EquipmentLAST PROFILE REVIEW/UPDATE: April 24, 1995

BRAKE SUPPLY CO. INC. - NEWSJuly 15, 200031U3NEWS

http://www.brake.com

INTRODUCES ONLINE EXPRESS CREDIT CARD BUYING OPTION FOR COMMODITY PARTS7/15/00

In February 1998, Brake Supply (BSC) announced BSC Online, Internet parts ordering for registeredcustomers. Brake Supply has now introduced Online Express for credit card purchases.

Express is for the person in a hurry who wants to pay by credit card. Not all products are available via Express.These are BSC’s commodity parts. According to BSC, there just isn't a good way to display over 300,000 partnumbers in a shopping cart.

"If you need OEM parts or want to buy on open account, try the original BSCOnline. If you want to pay bycredit card or have not signed up for online access, try Online Express!" (7/10/00 – BS Web Site)

STEPS, LADDERS & MIRRORS, THE NEWEST ADDITION TO PRODUCT LINE 3/31/00

According to Brake Supply’s web site, "Our replacement steps and ladders are a perfect fit for your equipment.No more outrageous dealer prices, and no more wasted time fabricating your own ladders. Now you caneconomically remedy unsafe equipment conditions using Brake Supply's railings, steps, ladders and mirrors. Ifyou don't see the part you need here, give us a call; we will get it for you!"

Product is offered for the following Caterpillar models: 235, 350L, 769C, 769D, 771C, 771D, 773, 773B, 773D,775B, 777, 777B, 785, 785B, 789, 928F, 950B, 950F, 966D, 980C, 980F, 980G, 988B, 988F, 990, 992C, 992D,992G, 815, 816, 826, 12G, 12H, 14G, 14H, 16G, 16H, 120, 140, 160, D9N, D10, and D11N.

Four replacement mirror part numbers are offered.

Specific part numbers and descriptions are listed. (3/20/00 – BS Web Site)

THE 2% DISCOUNT FOR WEB ORDERS IS BACK! 8/31/99

In July 1998 we reported that Brake Supply was offering a 2% discount on parts orders placed via their internetsite prior to August 31. We also reported Brake Supply continued to extend this offer monthly until December31, 1998.

Brake Supply announced on August 17, 1999, that the 2% discount is back. The discount is not applicable tospecial quotes and certain other negotiated prices. No ending effective date was stated. (8/17/99 – BS Web Site)

OPENS NEW STORE IN NORTON, VIRGINIA 8/15/99

Brake Supply Co. recently opened a new store at 5445 Kent Junction Rd., in Norton, Virginia. The new store isideally located to serve mining customers in the southern Appalachians. Norton is about half way betweenBristol, VA and Hazard, KY. (8/99 – BS Web Site)

CONTINUES TO EXTEND 2% INTERNET ORDERING DISCOUNT 11/98

In July, we reported Brake Supply was offering a 2% discount on all on-line orders placed before August 31,1998. Brake Supply has continued to extend this discount monthly. As of December 1, the 2% online discountis good through December 31, 1998. (12/1/98 – BS Web Site)

ORDER ON-LINE BEFORE AUGUST 31, 1998 AND SAVE 2% 7/98

Any order placed through the Brake Supply web page prior to August 31, 1998 earns a 2% discount. On-lineordering is reportedly even faster and easier with the ability to look up as many as 10 part numbers at one time.Brake Supply also has a "bargain basement." Just click the "Surplus" button on the home page to see what's onthe clearance table that week.

All but one of the 82 new and remanufactured part numbers on the Surplus list on July 15, 1998 were forCaterpillar applications. (7/15/98 - Brake Supply Web Site)

INTERNET PARTS ORDERING FEATURES FOR APPROVED CUSTOMERS 2/98

Brake Supply Co. recently introduced an Internet program called Brake Supply Online. After filling out a creditapplication on-line, customers will reportedly soon be able to take advantage of the most advanced orderingsystem in the heavy-duty parts business, one backed by a depth of inventory and application expertiseunmatched by anyone else in the industry.

Any Brake Supply customer, anywhere in the world, any time of the day or night can:

- look at parts availability- request a quotation- place an order- inquire on the status of an order- trace a shipment through UPS and other carriers- show the status of their account- access a complete on-line directory of Brake Supply team members at every location

The following are some of Brake Supply's key suppliers:

- Aeroquip - Baldwin- Rockwell Automotive - Bendix- Rexroth - Wagner- Eaton - Midland- Timken - CR Industries

(2/3/98 - BS Web Site)

BRAKE SUPPLY COMPANY INC.May 11, 199831U3

(SUBSIDIARY 100% OF GEORGE KOCH SONS INC., EVANSVILLE, IN)

INTERNET: http://www.brake.com (5/98)

COMPETITIVE TYPE: Manufacturer No (Parent is a manufacturer)Distributor Yes

MAJOR PRODUCT CLASSES: Drive TrainHydraulics

LOCATIONS: Headquarters - Evansville, IN1300 W. Lloyd Expressway

Owns 135,000 sq. ft. in one story concrete block and aluminum building in good condition, commercial section onwell traveled street.

Branches- Ivel, KY, Brake Supply (Eastern Kentucky Division), Hwy 23 S- Elko, NV, Brake Supply - Mountain States Inc. (Nevada Division), 2265 Industrial Way- Austin, TX, Brake Supply - Southwest, Inc. 7740 Ed Bluestein Blvd.- Clearwater, FL, Brake Supply - Gulf Coast, 3725 131st Ave N- Casper, WY, Brake Supply - Mountain States, 2000 Oil Dr (3/98 - D&B and Internet)

----Brake Supply also has satellite warehouses in the Chicago, IL (Hammond, IN), and Atlanta, GA, areas. (Issue 4 1995 -Rockford Powertrain Inc.'s Power Trends Newsletter) No details, but these two locations are also listed on BrakeSupply's Internet site. (5/98)

----Through the common ownership of the parent company this business is related to the following companies:

- Gibbs Die Casting Corporation, Henderson, KY; started 1965, manufactures die castings. Statement datedDecember 31, 1993, showed a net worth of $47,911,696.

- Uniseal Inc., Evansville, IN, started 1984, manufactures sealants and adhesives. Statement dated December31, 1993; showed a net worth of $5,306,001.

- Koch, George Sons International Inc., Evansville, IN, started 1988, active as foreign sales company.- Marco Sales Inc., Saint Louis, MO, acquired December 31, 1996, operates as a distributor of heating and air-

conditioning equipment. (3/98 & 2/97 - D&Bs)

EMPLOYMENT:Year Employees

1980 125 (12/80-D&B)

1991 228 (179 at headquarters) (2/92-D&B)Jun 1993 228 (182 at headquarters) (2/94-D&B)Jun 1994 228 (182 at headquarters) (1/95-D&B)Oct 1995 228 (182 at headquarters) (1/96-D&B)Feb 1996 228 (182 at headquarters) (2/97-D&B)Mar 1998 205 (155 at headquarters) (3/98-D&B)

----According to Rockford Powertrain Inc.'s Issue 4 1995 Newsletter, Brake Supply has 190 employees. (1/96)

SALES: Fiscal year ends December 31.

NetProfit

Year Sales (Loss) Worth

1988 $23,930,814 $ 612,288 $ 6,142,556 (2/92-D&B)1989 24,388,063 (14,971) 6,577,181 (2/94-D&B)1990 24,585,014 1,261,011 8,524,090 (2/94-D&B)1991 22,653,484 512,790 9,382,859 (2/94-D&B)1992 23,613,028 262,119 10,315,176 (2/94-D&B)1993 30,927,480 60,322 10,343,785 (1/95-D&B)1994 36,462,268 1,610,950 11,965,857 (1/96-D&B)1995 39,481,495 1,762,930 13,961,460 (2/97-D&B)1997 42,049,256 1,570,272 14,224,595 (3/98-D&B)

HISTORY:

1946 - Business started1979 - Expanded facilities and hydraulic product line (12/80-D&B)1980 - Started Brake Supply - Mountain States Inc., Casper, WY (100% owned)1984 - Started Brake Supply - Southwest Inc., Austin, TX (100% owned)1985 - October, started Brake Supply - Gulf Coast Inc., Clearwater, FL (100% owned)1993 - May, business moved from Vogel Av. to 1300 W. Lloyd Expressway, Evansville, IN, to consolidate locations.

(2/94-D&B)

PRODUCTS:

Inventory value as of December 31, 1991 was $6,413,994. (2/94-D&B)Inventory value as of December 31, 1992 was $6,392,090. (1/95-D&B)Inventory value as of December 31, 1993 was $8,410,494. (1/95-D&B)Inventory value as of December 31, 1994 was $8,282,083. (1/96-D&B)Inventory value as of December 31, 1998 was $7,970,384. (3/98-D&B)

----Wholesales mining equipment (40%), industrial equipment (40%), marine equipment (10%) and truck parts (10%).(1/95,2/97 & 3/98 D&Bs)

----

Brake Supply offers products from many manufacturers including, but not limited to, the following:

- Aeroquip - Denison Hydraulics- Allied Signal, Automotive - Eaton Corp., Hydraulics Div. Aftermarket - Ecco Back-Up Alarms & Strobe Lights- Baldwin Filters - Federal-Mogul Corp.- CR Services - Lovejoy, Inc.- Carlisle Braking Systems - Midland-Grau Heavy Duty Systems- Commercial Intertech Corp. - National Seal Co.- Cooper Industries, Abex - Parker Hannifin Corp. Friction Products Div. o Racor. Div.- Dana Corp. o Seal Group o Drivetrain Service Div. - Quincy Compressor, Div. of Coltec o Fluid Product Sales - Rexroth Corp, Mobile Hyd. Div. o Mobile Fluid Products Div. - Rockford Powertrain, Inc. o Spicer Driveshift Div. - Rockwell Automotive(11/30/96 - Construction Equipment 1997 Buyers Guide)

----Now Stocks Instrumentation for Caterpillar Applications 5/95 - According to their "NEWS Brake, New ProductAvailability Bulletin", April 10, 1995, Number 12, Brake Supply is now stocking, Pricol brand water, oil, fuel, airtemperature and pressure gauges. They are also offering ammeter and hourmeters. A total of 37 part numbers forCaterpillar applications were listed. (4/95 - Brake Supply)

----The following information on specific products offered comes from 1992 and 1994 brochures:

Brakes Hydraulics

Bearings and Seals Cylinders and AccumulatorsDrums and Discs Pumps and MotorsFoundation Brake Parts Valves and Oil CoolersBrake Shoes Hose and CouplingsBrake Hose and Tubing Reservoirs and AccessoriesAir and Hydraulic Components Filters and StrainersMolded and Woven Sheet and Roll Stock Gauges and Quick CouplersBlocks, Facings and Segments Complete Power UnitsMetallic Plates and Facings High Pressure Lifting Equipment

Shim Stock and Flat SheetsRebuilds pumps, motors,

(Also relines and rebuilds brake cylinders and valvesshoes, bands, calipers, and wet (2/94-Brochure)disc brake assemblies. (2/94-Brochure)

Pneumatics Clutches

Cylinders and Valves Cover Assemblies and DiscsCompressors and Dryers Matched Sets

Filters, Regulators & Lubricators Release and Pilot BearingsTanks and Gauges Industrial Air & Hydraulic ClutchesRotating Unions Horns and Back-up AlarmsLubrication Equipment Flywheels are machined.Hose and Couplings Clutches are rebuilt andAir Starters electronically balanced.

Also offers rebuilt pneumatic components. (2/94-Brochure)

Drivelines

Universal JointsCV-JointsPTO ShaftsComplete Prop Shaft AssembliesPower-Take-OffsHanger BearingsShaft Component Parts

(1992 Brochure) (1994 Brochure when noted)----

Over one million part numbers in their OEM Cross Reference Library. (2/94-Brochure)

PRODUCT FEATURES:QUALITY:

Poor Quality Friction Discs Reported 2/95 - Recent field reports indicate a couple of customers in Wagner's territoryhave switched from Brake Supply friction discs back to genuine Cat. Reportedly, the material on the Brake Supplydisc is uneven, causing accelerated wear. (2/95 - JKGilles, M&DS, DT)

----Competitive Test Reports (CTR) and Parts Competitive Bulletins (PCB) available on Brake Supply products. (2/97)

MARKETING:PRODUCT SUPPORT:WARRANTY:

"GUARANTEED PLUS" warranty assures 100% satisfaction on any new or rebuilt part. (2/94-Brochure)----

All rebuilt or exchange units are warranted to perform at 100% of new unit specifications and service life. (1992Brochure)

PRICING:

Most current price list in Parts Pricing Dept. is effective March 1, 1993. (5/98)


In addition to satellite warehouses in Chicago, IL (Hammond, IN), and Atlanta, GA, areas, Brake Supply has thefollowing sales representatives:

- Brake Supply Company, BrasilR. 24 De Outubro 1219/40190510-003 Porto Alegre/RSBrasil

- Brake Supply,ChilePunta De Rieles 2007Villa HuaytiquinaCalama -- Chile

- Brake Supply UK CompanyP.O. Box 12Whaley BridgeHigh PeakSK23 7BX Cheshire, United Kingdom,covering Europe, the Middle East, and Asia.

- Ermelo Brakecore, C.C.5 Oosthuise Str. 5Box 1837 Ermelo 2350,Mpumalanga, Republic of South Africa

- Peru (5/98 - Internet)----

Ship parts within 4 hours, 24 hours a day, 7 days a week. (2/94 Brochure)----

Territory - U.S. and exports. Exports less than 5%. Sells to industrial, commercial marine, trucking and miningaccounts. (2/92,2/97, & 3/98 - D&Bs)

----According to a brochure distributed by Brake Supply at CON/AGG '94, they have export sales to the United Kingdom,Australia, Singapore, Columbia, Chile, Mexico and South Africa. (2/94)

GENERAL:

Ranked as a 'D' DT (Brake Component) competitor. (5/98)----

Every BSC employee (team member) gets a full reporting of company profits and expenses each month and they allshare in a profit-based monthly bonus. The open door policy and constant reminders that success is based on effortlead to a happy crew with low turnover and wages significantly above comparable positions at other local companies.(Issue 4 1995 Rockford Powertrain Inc.'s Power Trends Newsletter)


BSC President says they run their business by an easily understood five-point "vision".- Focus on the customer- Simplify!- Don't "cost analyze" every transaction- Have fun- Make a profit(Issue 4 1995 - Rockford Powertrain Inc.'s Power Trends Newsletter)


Complete Cat cross-reference for friction material, 14-21% off Cat list. Overnight delivery, Guarantee Plus. (11/92 -GKSpringborn, P&SM, DT Section)

ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Financial condition strong. (2/97 & 3/98 - D&Bs)LAST D&B: March 30, 1998LAST PROFILE REVIEW/UPDATE: May 11, 1998DUNS (D&B NUMBER): 01-627-9911SIC (CODES): 50 82, 50 84, 50 88, 50 13

BYG, S.A.August 10, 199537ES

COMPETITIVE TYPE: ManufacturerDistributor

MAJOR PRODUCT CLASSES: Undercarriage HydraulicsEngine Parts General UsageGET Not Elsewhere ClassifiedDrive Train

LOCATIONS:

Headquarters - BYG, S.A.Calvet, 55-57 Entlo, Barcelona, SpainRents offices covering 150 sq. meters, central business area on a main road.

Subsidiary - BYG Sur, S.A.Barcelona, Spain 100% (Duns: 46-035-7494) Started 1972(Importer and wholesaler of construction machinery and materials)

Affiliates (The following are related through principal(s) and/or financial interest):- Inmobiliaria Can Serra S.A.

Barcelona, Spain (Duns: 47-294-6623) (Construction and real estate)- Inmobiliaria Escipion, S.A.

Barcelona, Spain (Duns: 46-856-1907) (Construction)- Trasto Centro, S.A.

Madrid, SpainBranches/Divisions

- Has two, including El Pla, 45, del Plg. Indl El Pla de Molins de Rei (Barcelona) (7/95 - D&B)----

According to a June 30, 1995 BYG Letter, they have offices throughout Spain (Malaga, Tenerife, Madrid, Sevilla,etc.) and have agents worldwide. (6/95)

EMPLOYMENT:Approx. 1980 = 21 (including 14 salesmen)Dec 1991 = 30 (7/95 - D&B)Dec 1992 = 26 (7/95 - D&B)Dec 1993 = 22 (7/95 - D&B)

1995 = 60 (6/30/95 - BYG Letter)

SALES: Fiscal year ends Dec. 31. (7/95 - D&B)----

Sales:

P to DYear Pesatas Dollars Conversion

1991 P467,489,000 $4,495,986 (7/95 - D&B) divide by 103.97921992 429,455,000 4,196,917 (7/95 - D&B) divide by 102.3263

1993 430,888,000 3,386,153 (7/95 - D&B) divide by 127.2500----

Net Worth:

Year Pesatas Dollars

1991 P202,007,000 $1,942,764 (7/95 - D&B)1992 296,363,000 2,896,254 (7/95 - D&B)1993 423,962,000 3,331,725 (7/95 - D&B)

----Profit:

Year Pesatas Dollars

1991 P 12,667,000 $ 121,822 (7/95 - D&B)1992 94,356,000 922,109 (7/95 - D&B)1993 127,599,000 1,002,743 (7/95 - D&B)

HISTORY:1967 - Company chartered

PRODUCTS:BYG's main exports are cutting edges, manufactured at their Barcelona plant, teeth and other wear parts, nuts andbolts. Cutting edges and tips offered for Caterpillar, Komatsu, Fiat, Case-Poclain, O&K, and Esco replacements.(6/30/95 - BYG Letter)

Wholesalers of replacement parts for construction equipment. BYG also claims to be a manufacturer of blades(carbon steel and boron steel) and will produce to customer specifications. BYG may manufacture more, butEuropean parts competitors' brochures typically suggest they are the manufacturer, but most product is usuallysourced from others. (11/93 - BYG Brochure/Letter)

----BYG offers:

- Bucket tips/adapters, scarifiers and related parts- Ripper shanks/adapters/protectors- Cutting edges, end bits, segments, router bits, wear plates for loaders, dozers, scrapers and graders- Hardware (Grade 8)- U/C idlers, sprockets, grouser bars- Crankshafts (11/93 - BYG Brochure/Letter)

----As of 11/93, BYG offered replacement for four Caterpillar crankshafts (4N7692, 4N7693, 7C4859 and 9N6221)and three for Deere. (11/93 - BYG Letter)

----Based on Competitive Parts Reports (CPR) information, as of 7/95 (most submitted by Spain dealer FSA), BYGoffers the following brands of product:

- Kolbenschmidt (Engine; liner, piston, piston pin/retainers)- Garrett (Engine; turbo/parts)- Kolbenschmidt (Hyd., seals)

- Berco (U/C)- Baldwin (Filters)- Fleetguard (Filters)- Woodgate (Filters)- Wix (Filters)- S.A. Metalogenia, Remop (GET)- Esco (GET)- Canavera & Audi-Roca (GET)- ETE (GET)

"Unknown" was often submitted as the brand. For more detail on specific parts offered, refer to the CPR portion ofPMIS. (7/95)

PRODUCT FEATURES:QUALITY:Refer to Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) for information on brands BYGoffers. (7/95)

MARKETING:Agrees to change wording on future promotional material: In January 1994, Caterpillar objected to claims made ina promotion piece of BYG replacement parts "matching or exceeding OEM requirements." Our Patent Dept.solicited the help of our Spanish legal counsel. After lengthy delays, in July 1996 we were informed that BYG wasagreeable to changing the wording. BYG is to provide a sample of their new catalog as soon as available forCaterpillar's approval. (7/96 - RBRodgers, P&MR).

PRODUCT SUPPORT:WARRANTY:"If any of our products breaks during normal operation, we will provide a new replacement free." (6/95, BYGBrochure/Letter)

----PRICING:BYG seems to be a medium threat for cutting edges and end bits mostly. Discounts off Spanish Cat dealer FSA/Catprices of 20-50%. (7/95 - WBHenrikson, GET Products Gp.)

----No information in Pricing (P&MR) Dept.'s CIS system. (7/95)

DISTRIBUTION & GEOGRAPHIC AREAS SERVED:Territory is 100% National. Imports 70% of Purchases. (7/95 - D&B)

----According to a June 30, 1995 BYG letter, they export all over the world. Their strongest market is Asia for the pastfew years. (6/95)

----Per 12/9/87 D&B, 80% of sales are in Spain.

----Additional information on BYG distributors may be available in the CPR portion of PMIS. As of 7/95, in additionto BYG, the following distributors have been submitted as selling BYG products:

Distributor Submitted By Sub

CL Boyd Co. Darr Eq. NACDPlamondon Hewitt Eq. NACDBlumaq FSA COSAGroinsa FSA COSAHenagui FSA COSAHermanos Pozo FSA COSARepuestos Del Noroes FSA COSARodajes Malaga FSA COSATracto Centro FSA COSATractor Bierzo FSA COSATractor Murcia FSA COSA

GENERAL:Aureo Bartolome Pascual is the sole administrator, owning 63%. (7/95 - D&B)

----Additional information is available in P&MR's Competitive Information Library. (8/95)

FUTURE OUTLOOK: Financial condition is fair, trend even. (7/95 - D&B)APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:LAST D&B: July 19, 1995LAST PROFILE REVIEW/UPDATE: July 20, 1995 (Minor update 8/10/95)DUNS (D&B NUMBER): 46-010-8632SIC CODES: 5084 Wholesales Industrial Machinery & Equipment

CARLISLE MOTION CONTROL INDUSTRIES - NEWSApril 30, 200062QXNEWS

INTERNET: http://www.carlislemotion.com/

TITAN INTERNATIONAL, INC. (WHEEL/TIRE ASSY. COMPETITOR/SUPPLIER) ANNOUNCES SALE OFCERTAIN ASSETS TO CARLISLE 4/30/00

On April 17, 2000, Titan International, Inc. announced the sale of certain assets of facilities located in Clinton, Tennessee, andSlinger, Wisconsin, and the leasing of its facility in Greenwood, South Carolina, to Carlisle Tire and Wheel, a subsidiary ofCarlisle Companies Incorporated, effective immediately. The transaction is valued at approximately $95 million.

Titan has decided to exit the lawn and garden and ATV original equipment manufacturer (OEM) wheel and tire business,concentrating instead on the aftermarket. The two companies have signed a five-year supply agreement whereby Titan willpurchase wheels and tires from Carlisle for its distribution outlets.

With this transaction in effect, Titan will now focus on expanding its tire operations in Des Moines, Iowa, Natchez, Mississippi,and Brownsville, Texas. To fully capture the profit potential of LSW wheels and tires for agriculture and construction, Titan willmarket the assemblies directly to end customers and equipment dealers. Titan has also licensed Carlisle to use the LSWtechnology for lawn and garden and ATV applications and will receive royalties on all LSW sales. (4/17/00 – PRNewswire)

CARLISLE COMPANIES REPORTS STRONG FIRST QUARTER RESULTS 4/30/00

On April 18, 2000, Carlisle Companies Incorporated announced record first quarter results. Carlisle is a diversifiedmanufacturer of products serving construction materials, industrial components, automotive components and general industrymarkets.

The brake and friction businesses reported improved first quarter sales with a strong improvement in earnings over 1999.Healthy sales to original equipment manufacturers in the Heavy Friction business and strengthening demand in thehaulage/mining markets combined with margin improvement to generate the overall improvement in the friction and brakebusinesses. (4/18/2000 - Business Wire)

SALES DOWN IN 1999 2/15/00

Although their parent reported a record year in 1999, sales at Motion Control Industries and Carlisle Industrial Brake &Friction were down in 1999, due to lower demand in the heavy duty friction aftermarket and off-highway industrial brakes formining and agricultural applications. These divisions are 2 of 12 operating units of Carlisle Companies Inc., and are part of theIndustrial Components segment. (2/3/00 - Business Wire)

TITAN INTERNATIONAL AND CARLISLE COMPANIES ANNOUNCE EXPIRATION OF LETTER OF INTENT9/30/99

On September 20, 1999, Carlisle Companies Incorporated and Titan International, Inc. agreed not to extend the Letter ofIntent providing for the merger of Titan into Carlisle. The Letter of Intent expired on September 18, 1999.

The initial announcement of the Letter of Intent was made on August 4, 1999. Carlisle and Titan were unable to complete theactions necessary to reach a definitive merger agreement within the 45-day time period provided for in the Letter of Intent. Nocontinued discussions are anticipated. (9/20/99 - Business Wire)

PARENT TO ACQUIRE TIRE AND WHEEL MFGR., TITAN INTERNATIONAL, INC. 8/15/99

On August 4, 1999, Carlisle Companies Incorporated and Titan International, Inc. jointly announced that the two companieshave entered into a letter of intent providing for the merger of Titan into Carlisle Companies in a transaction valued atapproximately $600 million including the assumption of debt.

Titan International, Inc. is a leading manufacturer of wheel and tire assemblies serving the agriculture, construction andconsumer markets. Titan has manufacturing and distribution facilities throughout the United States, Europe and South America.

Carlisle is a diversified manufacturer of products serving four major markets: construction materials, automotive components,industrial components and general industry. (8/4/99 - PRNewswire, http://biz.yahoo.com/n/c/csl.html)

HEAVY-DUTY FRICTION AND BRAKING PRODUCTS SALES INCREASED 3% IN 1998 2/99

On February 4, 1999, Carlisle Companies Incorporated reported their 1998 financial results. Carlisle is a diversifiedmanufacturer of products serving construction materials, industrial components, automotive components and general industrymarkets.

Since Carlisle Motion Control Industries is just a portion of the Industrial Components segment, exact sales at that level are notreleased. Sales of heavy-duty friction and braking products increased just 3% in 1998 after robust gains in 1997. (2/4/99 -Business Wire)

RECEIVES QS 9000 AND ISO 9001 QUALITY CERTIFICATIONS 7/97

Carlisle Motion Control Industries, Inc.'s Heavy Duty Friction Group received QS 9000 and ISO 9001 registration for threefacilities: Heavy Friction's Fredericksburg, Virginia, manufacturing plant, Charlottesville, Virginia's, research and developmentfacility, and customer support functions in Ridgway, Pennsylvania. (7/97 - Truck Parts & Service Magazine)

ACQUIRES TWO BRAKE COMPONENT COMPANIES 7/97

Carlisle Motion Control, Charlottesville, Virginia, recently purchased Overland Brake (OBI) and Brake Diaphragm, Nampa,Idaho. OBI will be renamed Carlisle Spring Brake Products. (7/97 - OEM Off-Highway Magazine)

CARLISLE MOTION CONTROL INDUSTRIES INC.April 21, 199537GQ

(Subsidiary, 100%, of Carlisle Companies Incorporated, Syracuse, NY)

Carlisle consolidates three companies into a single business unit. Carlisle Braking Systems, Motion ControlIndustries, and National Friction Products have been integrated into Carlisle Motion Control Industries. Inc. (1/94 -OEM Off-Highway Magazine)

INTERNET: http://www.carlislemotion.com/COMPETITIVE TYPE: ManufacturerMAJOR PRODUCT CLASSES: Drive Train (Brakes)LOCATIONS:Headquarters - Bloomington, Indiana

Branches:- Ridgeway, PA - Motion Controls Industries- Logansport, IN - National Friction Products- Fredericksburg, VA - Mfgrs. asbestos free friction material- Lancaster, PA - All parts manufactured at Ridgeway, PA are shipped to Lancaster. Parts are shipped to

Caterpillar, Morton from Lancaster.- Cuba, MO - Altec (Remanufacturing Brake Shoes)- Mexico - Joint venture with German manufacturer Rutgerswerke, truck and auto non-asbestos brake linings.- Netherlands - Carlisle Engineered Products Europe B.V.- Japan - Japan Power Brake Inc.- Canada - Altec (Remanufacturing Brake Shoes)(1994 Carlisle Cos. Annual Report)

EMPLOYMENT:

300 (2/93 - D&B)----

Carlisle companies' 1994 Annual Report had no information on number of employees.

SALES: Fiscal year ends December 31.----

Motion Control is part of Carlisle's Transportation Products segment. Sales below are for this segment, in thousands,as a percent of total Carlisle Companies Inc. (1992 and 1994 Carlisle Cos. Annual Reports)

Trans. Prod. % of Carlisle Cos.Year Sales (000s) Carlisle Cos. Sales (000s)

1990 $166,388 33.4% $498,4731991 169,158 33.8 500,7711992 172,849 32.7 528,0521993 177,005 29.0 611,2701994 200,213 28.9 692,650

----

1994 - Carlisle's friction and braking products businesses had record sales and increased earnings in 1994, as keymarkets expanded and niche marketing strategies initiated in 1993 began to bear fruit. Heavy duty friction sales totruck and trailer manufacturers continued to be strong in 1994, as truck and trailer build levels remained highthroughout the year. Aftermarket friction sales levels were somewhat stagnant in 1994 due to very competitivepricing. New products in both the industrial friction and braking systems operations were successfully marketedduring 1994, increasing sales levels from these operations.

U.S. sales of off-highway braking products were strong, in spite of a continuing strike at a major OEM customer(Caterpillar). Carlisle has begun to benefit from its strategy of designing brakes for the agricultural and industrialequipment industries, which are shifting from drum to disc brakes. In Europe, where a recovery from recession isgaining speed, Carlisle increased its sales of brake and friction products, although the large German and Frenchmarkets remained soft.

Industrial friction sales also showed steady growth, benefiting from stronger housing and industrial equipmentmarkets, as well as from successful entry into new markets, such as the OEM segment of lawn and garden equipment,and wet friction discs in the aftermarket.

Custom-molded and extruded plastics and rubber parts operations participated in the strong domestic automotivemarkets in 1994 while expanding its production capabilities. At the beginning of 1994, operation of the company'sLake City, Pennsylvania plant was transferred from the foodservice plastics operations to this segment. The strongmarket, new products and additional capacity combined for an increase of over 25% in sales from these plastics andrubber operations in 1994 versus 1993.

Aircraft wire product sales declined in 1994 over $2.0 million compared to 1993. Fewer purchases of aircraft bycommercial airlines and cuts in defense spending caused a recession in both the commercial and military aircraftindustry, impacting 1994 sales. The company's container manufacturing operation recorded its initial sales toward theend of 1994, contributing almost $0.5 million in sales for the year.

----1992 - For Carlisle's friction and braking products businesses, 1992 was marked by a profitability turnaround, as costreduction measures lowered break-even points and some markets began to improve. Earnings rose as a result, afterdeclining in 1991.

Carlisle's Motion Control Industries enjoyed a 27% gain in OEM sales, and further gains are expected in 1993 as thetruck build rate continues to increase. Aftermarket sales experienced a more modest 3% increase in 1992 because ofincreased price competition as well as the aftermarket's normal tendency to move counter to the OEM market.

Carlisle's off-highway braking systems business, after a loss in 1991, returned to profitability in 1992 on similarvolume as a result of a restructuring that reduced overhead costs and shifted the product mix toward the higher marginaftermarket. Overall, the construction equipment market remained severely depressed throughout 1992.

In the industrial friction area, Carlisle further broadened its product and customer base as the market began to showsigns of recovery in late 1992 after a two-year decline. (1992 - Carlisle Cos. Annual Report)

----1991 - Carlisle's brake systems and friction businesses were also victims of the economy in 1991 as they experiencedan earnings decline of 32%. Revenue increased 15% over 1990 due to the off-highway braking systems acquisition,now called Carlisle Braking Systems. (Compact Disclosure Report)

HISTORY:

1936 - Ridgeway facility founded.

1989 - June, parent purchased National Friction Products Inc. Logansport, IN, manufacturers of specialty frictionproducts. Operates as a division of Motion Control Ind.

1990 - Motion Control Industries took steps in 1990 to become a full brake systems supplier through theacquisition of the Off-Highway Braking Systems (OHBS) division of BFGoodrich. OHBS produces drydisc brakes and actuation systems for off-road construction equipment, thus complementing MotionControl's non-asbestos friction products for a broad range of transportation and industrial end-use markets.(1990 - Carlisle Annual Report) Based in Bloomington, IN, with operations in Holland and Brazil, had1989 sales of $47M. (7/90 - Wall Street Journal)

1992 - 4th qtr., Motion Control Industries acquired Altec, a small Canadian company whose proprietary process ofremanufacturing truck brake shoes reportedly represents an excellent opportunity for Motion Control toimprove their position in the North American heavy duty truck aftermarket. (1992 - Carlisle Cos. AnnualReport)

- Motion Control Industries established a joint venture in Queretaro, Mexico, with Rutgerswerke, a largeFrankfurt, Germany manufacturer, positioning itself to benefit from rapid growth in that country's bus andtruck markets. (1992 - Carlisle Cos. Annual Report)

1993 - Carlisle Consolidates Operations - Carlisle consolidates three companies into a single business unit.Carlisle Braking Systems, Motion Control Industries, and National Friction Products have been integratedinto Carlisle Motion Control Industries Inc. (1/94 - OEM Off-Highway Magazine)

1994 - Altec (remanufacturing brake shoes) established a U.S. plant in Missouri, and is planning a second U.S. sitein 1995. (1994 Carlisle Annual Report)

- In Brazil, persistent inflation and a declining market for dry braking technology led Carlisle to close itsbrake manufacturing operation. (1994 Carlisle Annual Report)

PRODUCTS:

Parent company Carlisle Companies Inc. operates three main business segments; Construction Materials (42% of 1994sales), Transportation Products (29%) and General Industry (29%).

This profile focuses on the Transportation Products segment, which is further segmented by the following:

- Automotive - custom plastic and rubber products- Heavy Duty Vehicles - braking systems- Marine - refrigerated containers- Aircraft - aircraft wire systems

The Heavy Duty Vehicles Segment (braking systems) is a supplier/competitor to Caterpillar.

Carlisle produces a wide range of friction and braking components for the on- and off-road vehicle markets. Servingboth the original equipment market and the aftermarket, Carlisle's product offerings span mature braking markets, newapplications, and emerging technologies.

- Wet friction for off-highway equipment- Brake block for heavy duty trucks, trailers and buses- Brake assembly for forklifts- Disc brake friction for light rail (1994 - Carlisle Cos. Annual Report)


The following locations are Certified suppliers to Caterpillar:

- Carlisle Off-Highway Braking System, Bloomington, IN, for disc brakes (this used to be B.F. Goodrich until1992)

- Carlisle Engineered Products Europe BV, Zevenaar, The Netherlands, for disc brakes (this used to be B.F.Goodrich until 1992)

- Motion Control Industries, Ridgeway, PA, for non-asbestos friction material(4/95 - A.L. Affolter, Cat Quality)

----Motion Control is conduction sophisticated materials research to develop quieter, longer lasting friction materials.The company is also experimenting with carbon, ceramic and aramid-derivative fibers to develop new heat-resistantmaterials to withstand temperatures of -40F degrees to 1600F degrees. (1994 Carlisle Cos. Annual Report)

----Research and Development - higher levels of expenditures were incurred in 1992 within heavy-duty friction andbraking systems operations for new product introductions in 1993. (1992 - Carlisle Cos. Annual Report)

----Caterpillar has had Motion Control product tested. Refer to the following:

CTR No. Description PCB No.

DT90-11 Brake Friction Material (H6) PEWP0019----

Carlisle's Motion Control Industries has received Rockwell International Corp's No. 1 rating. According to the VicePresident of Sales and Marketing of Morton Control Industries, "No brake lining supplier - or for that matter, anysupplier - has ever achieved Rockwell's No. 1 rating before."

The rating reportedly was awarded to MCI for its excellence in quality control and superior manufacturing techniques.The rating, therefore, is said to apply to all the brake lining products Carlisle produces for Rockwell. (1/90 - FleetEquipment Magazine)

MARKETING:

Joint Marketing Program with Ultra Hydraulics 6/92 - Ultra Hydraulics, Cheltenham, England and Carlisle BrakingSystems, Bloomington, IN have announced a joint marketing program for full hydraulic braking systems for mobileequipment applications. Ultra, with U.S. headquarters in Columbus, OH manufactures hydraulic gear pumps, motors,valves and electrohydraulic servo valves for the off-highway, industrial , rail and marine markets worldwide. Carlisledesigns and manufactures mobile equipment brake products including caliper disc brakes, actuators, full-powerhydraulic brake valves, manifolds, pressure switches and relate components. (6/92 - Diesel Progress, Engines &Drives Magazines)

PRODUCT SUPPORT:

New Mobile Brake Training Unit 7/94 - Carlisle Motion Control Industries, Inc. has expanded its Heavy Duty BreakSchool with a mobile training unit. Housed in a 16 ft. trailer, the mobile training unit is equipped with operating airboards, wheel end displays, and other brake components, providing brake technicians with hands-on experience andclassroom instruction. (5/94 - Truck Parts & Service Magazine)

----Carlisle Corp.'s Motion Control Industries announced the opening of a new Heavy Duty Brake School. The school isdesigned to provide the trucking industry with an educational resource.

The brake school will offer instruction in two different curriculum - The Maintenance Managers Course and The

Mechanics Course. The format of both courses will consist of a two and one-half day program.

The brake school has been established as an extension to the on-site brake seminars and brake maintenance clinicsalready offered by Carlisle's Technical Services Department.

In addition, Carlisle also announced the opening of its new Technical Center. The Tech Center, located at Carlisle'smanufacturing facility in Bloomington, IN, will house the brake school. (12/92 - Fleet Equipment Magazine)

WARRANTY:PRICING:

Pricing (P&MR) Dept. has list price information on Carlisle Braking Systems (Code 60LC) in their CIS system, themost current being effective Jan 1, 1991. (4/95)


Carlisle sells to OEMs (40%) and the aftermarket (60%). (6/93)----

According to Construction Equipment Magazine's 1994 Buyers Guide (dated November 30, 1993) the followingdistributors offer products of Carlisle Braking Systems:

- Associated Brake Supply, Gardena, CA- Contractors Service Co., Riverside, CA- Hypac Inc., Escondido, CA- Drive Train Industries Inc. Denver, CO

Grand Junction, COEvansville, WY

- Rabco Inc., Conyers, GA- Brake Supply Co. Inc., Evansville, IN

Clearwater, FLIvel, KYCasper, WY

- Brake Supply Southwest Inc., Austin, TX- Rocky Mountain Brake Supply Inc. Casper, WY- Power Train Service Inc., Indianapolis, IN

Fort Wayne, INLafayette, INLouisville, KYElizabethtown, KYLexington, KYCincinnati, OHCleveland, OHNew Paris, OH

- Northern Engine & Supply, Virginia, MN- Cape Tractor Trailer Supply Co. Cape Girardeau, MO- Aftermarket Parts Inc. New Bern, NC- Brake Systems Inc. Portland, OR- Mitchell, Lewis & Staver Co. Wilsonville, OR- Morgan Brake & Clutch Co. Vancouver, B.C., Canada- Bartlett Provincial Brake Inc. Hamilton, ON, Canada

- Lewis, Herb & Co. Ltd. Montreal-Nord, PQ, Canada----

Motion Control has been having trouble shipping parts to Caterpillar on time. From January-May of 1993,approximately 14-18% of shipments were delivered on time (with a goal of 80%).

Motion Control supplies 100% of Cat's caliper disc pad requirements for premium and standard duty lines. They alsomanufacture drum brake and expander brake linings.

All parts manufactured at Motion Control at Ridgeway are shipped to Lancaster, Pennsylvania. Parts are then shippedfrom Lancaster to Morton.

Motion Control stated that approximately 60% of their business is with aftermarket distributors (i.e., Brake Supply)and 40% with OEMs.

Motion Control tells their independent distributors that they manufacture brakes for Cat and also tells them themachines they are used on, i.e., cross-reference information.

National Friction Products (a division of Motion Control) concentrates on industrial applications rather than motionvehicles, according to Doug DeVallance. Industrial applications include twin disc applications, washing machines,machining equipment, etc.... (6/93 - GKSpringborn, P&SM & GLMiller, Purchasing/Supplier Visit)

GENERAL:

Ranked as an 'A' DT (Brake) Competitor/Supplier and a 'BR' DT (Brake) Competitor. (4/95)----

Motion Control Industries, Inc., Ridgeway, PA contacts as of 6/93:

- Sean B. Coleman, Sales Engineer- Douglass R. DeVallance, Director of Sales- Frederick W. Roedl, Product Marketing Manager- Donald R. Fapore, Plant Manager- Thomas M. Hogan, V.P. & General Manager(6/93 - GKSpringborn, P&SM, DT)


Actively pursues the OEM and aftermarket opportunities. (8/93)

ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:

New products are central to penetrating new markets and to reinforcing the company's position in the highlycompetitive heavy duty truck, off-highway and industrial friction markets. For truck and trailer OEMs, Carlisle inearly 1995 will introduce a new heavy duty brake lining with improved mileage and braking performance. Thecompany will also introduce disc brake products for the forklift market during 1995, and is developing new, lower-cost prototypes for specific truck, off-highway and industrial uses.

Following a period of record demand by original equipment customers of friction products, a resurgence is expected indemand for more profitable aftermarket products. A good domestic market outlook combined with improving

international markets will provide the opportunity for strong performance. (1994 Carlisle Cos. Annual Report)----

Carlisle Companies will continue to look for appropriate acquisitions that can enhance their future growth andprofitability , and that can be purchased for prices that produce high returns. (1994 Carlisle Cos. Annual Report)

----Dry brake business of Motion Control is declining due to the shift to wet brakes in larger machines. (6/93 -GKSpringborn, P&SM)

----In charge of National Friction Products (division of Motion Control) research & development program is Joe Fox. Joewas with Raybestos and Thermoset before working for National Friction. Joe carries with him extensive knowledgeon wet friction disc, a product that National Friction doesn't manufacture today. With National Friction's involvementin aftermarket sales, it is believed that National Friction will have a wet friction disc that can be used in Cat's off-highway truck brakes within a few years. (6/93 - GKSpringborn, P&SM)

LAST D&B:LAST PROFILE REVIEW/UPDATE: April 21, 1995DUNS (D&B NUMBER):SIC (CODES):

Wholesales new, used and reconditioned parts for heavy construction equipment (100%). (5/95 - D&B)----

Specializes in parts for Case, Deere, and Caterpillar. Used parts come from disassembled machines. (2/95 - DEPCOLetter)

----Specializes in JI Case And John Deere Replacement Parts. (3/00 - http://www.depcoparts.com/)

----Remanufactured products for JI Case and John Deere machines include: Engines, Torque Converters, Power Shuttles,Final Drives, Cylinders and Differentials. (3/00 - http://www.depcoparts.com/REMANUFA.HTM)


Reportedly new parts are equivalent with the same guarantee as the originals but with better prices. (2/95 - DEPCOLetter)

MARKETING:

February 1995 advertisement in Mexican magazine, Informaquina. Also plans to participate in several constructionindustry expositions. (2/95 - DEPCO Letter)

PRODUCT SUPPORT:WARRANTY:

New parts reportedly have same guarantee as the originals. (2/95 - DEPCO Letter)----

Reman: 6 months/2000 parts warranty.

PRICING:

Good used parts sold at approximately 30% of the price of new. (2/95 - DEPCO Letter)----

No list price information in Pricing (P&MR) Departments CIS System. (5/95)


CEO is Robert W. Drummond (70% ownership) and President is Robert C. Drummond (30%). Robert C. is a formeremployee of Cummins Engine Co. (1982-1984), Caterpillar dealer MacAllister Machinery (1985-1987) and IndustrialTractor, Jacksonville, FL (1988-1990). (5/95 - D&B)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Financial condition strong. (5/95 - D&B)

LAST D&B: May 11, 1995LAST PROFILE REVIEW/UPDATE: May 11, 1995DUNS (D&B NUMBER): 13-957-7712

SIC (CODES): 5082

CHAMPION FRICTION CO. INC.May 23, 200036EQ

INTERNET: http://www.championfriction.com/


MAJOR PRODUCT CLASSES: Drive Train (Friction)

LOCATIONS:

Headquarters - Eugene, OR, 845 McKinley St.

Branch - Eugene, OR, 2375 W. 7th Pl., Approx. 16,000 sq. ft. (Manufacturing)

Subsidiary - Advanced Friction Technology, Eugene, OR (100%), operates as a manufacturer of industrial friction products. (2/95 - D&B)

EMPLOYMENT:

Jun. 1987 - 26 (8 at headquarters) (11/87 - D&B) Jun. 1989 - 40 (9 at headquarters) (1/90 - D&B) Mar. 1993 - 25 (12 at headquarters) (8/93 - D&B) Sep. 1994 - 38 (30 at headquarters) (2/95 - D&B)

SALES:

Jun. 1989 - $3,500,000 projected (1/90 - D&B) Mar. 1993 - $3,000,000 projected (8/93 - D&B) Sep. 1994 - $5,000,000 projected (2/95 - D&B)

HISTORY:

Business started prior to 1927 by H.W. Clubb.

1927 - 1982 - Business was owned by Chester Dechert and William C. Dechert. In 1982 William became majoritystockholder. (2/95 - D&B)

PRODUCTS:

Champion Friction Company began with the manufacture of heavy duty industrial frictions for logging, offshore andmining winches. Since then they have expanded into the manufacture of industrial clutch parts, winches, hoists, tractorand other off highway equipment-as well as establishing a separate division for non-asbestos molded material andAFT 200* Kevlar ® reinforced materials. And, recently they added the manufacture and rebuilding of water cooledbrakes and clutches. (5/00 - http://www.championfriction.com/company/company.html)

----Stock disc brake pads and seal kits for B.F. Goodrich, Goodyear, Caterpillar, Clark, Fiat-Allis, Michigan, Terex,Trojan and Wagner. Exchange Bands and Shoes to fit virtually all heavy-duty brake and clutch applications plus

Industrial Hot Bonding. Manufacturer of Brake Bands, Brake Blocks for yarder, crane, hoist and winch applications.In-house capability to custom manufacture to your print or samples High performance Carbomet Plus on highway discpads in stock for immediate delivery. (5/00 - http://www.championfriction.com/products/brakes.html)


Champion Friction product has been tested as part of P&SM's Competitive Parts Test Program. Refer to thefollowing: (2/95)


DT90-11 Dry Brake Friction Material (A4) PEWP0018 DT90-12 Dry Brake Friction Material (H6) PEWP0019

MARKETING:

During 1993 and/or 1994 Champion is known to have advertised in the following magazines: (2/95)

- Rock & Dirt- Suppliers Guide (Source Line Inc.)- Southern Loggin' Times

----Agrees To Change Advertising 3/94 - In a recent advertisement, Champion stated "All Champion products meet orexceed original equipment manufacturer specifications." The ad also displayed CAT and several other OEM names,without a disclaimer stating the parts advertised were not that of the original equipment manufacturers.

Since Caterpillar's engineering specifications are proprietary information and not divulged to the public, Caterpillarrequested Champion to provide proof to back up their claim.

Champion stated they believed their statement was true, but would remove the phrase in its entirety from all ads asquickly as possible and to delete it from any future ads. (3/94 - RBRodgers, P&SM)

PRODUCT SUPPORT:WARRANTY:PRICING:

No transaction level price observations available in P&SM's Competitive Parts Report (CPR) system. (2/95)----

Pricing Dept. (P&MR) maintains list price information in their CIS system, the most current list effective July 13,1988. (2/95)


Territory is reportedly International (11/87 & 1/90 D&Bs say U.S. and Canada), has 1200 accounts, sells to loggingand heavy equipment dealers. (2/95 - D&B)

GENERAL:

Ranked by M&DS as a 'B' DT (Dry Brake Components) competitor and an 'AR' (Brake Components) competitor.(2/95)

----51% (80% last year) of capitol stock owned by 52 year old William C. Dechert (President);49% (20% last year) owned by Richard Walker (Vice President – General Mgr.), also 52 years old. (2/95 - D&B)

----Caterpillar supplier Raymark Friction Co. believes the biggest manufacturers that sell dry brake components to theaftermarket are Champion Friction Co., Motion Control/Carlisle, Abex, Thermoset Inc., Ferracto, Stamco, andScanpac. (6/93 - GKSpringborn, P&SM, DT)

----Offers a toll-free 800 phone number and a fax number. (2/95)

APPARENT MARKETING STRATEGY: Targets the replacement parts market (8/93)ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: February 14, 1995DUNS (D&B NUMBER): 00-903-1683SIC (CODES): 3499LAST PROFILE REVIEW/UPDATE: February 15, 1995 (minor update May 23, 2000)

CEI (COSTRUIZIONE EMILIANA INGRANAGGI SPA)August 10, 199531GN

INTERNET: None as of 3/9/2000COMPETITIVE TYPE: ManufacturerMAJOR PRODUCT CLASSES: Drive Train

LOCATIONS:

Headquarters:Address - VIA Del Lavoro 78Town - 40056 Crespellano (BO)Country – Italy

Branches (among the important):- Deposito, Crespillano (BO) Italy- Magazzino, Anzola dell' Emilia (BO) Italy

Subsidiaries:- Anteo SpA, ownership 97%, Molinella (BO) Italy- PM France Grues Hudrauliques, ownership 62%, Longjiumeau, Francia- Autogru P.M. SpA, Modena (MO) Italy

Also affiliated through principals (President & Vice President):- Alfa SpA, Crespellano (BO) Italy- Sicma Srl, Bologna (BO) Italy- S.E.R.M.A. Srl, Modena (MO) Italy

(8/95 - D&B)

EMPLOYMENT:

1976 - 53 (includes 11 salesmen in Italy/1 foreign salesman)1989 - 85 (11/91 - D&B)1991 - 93 (12/92 - D&B)

Dec 1993 - 86 (8/95 - D&B)

SALES: (Millions): Fiscal year ends December 31.

Sales/Profits Sales/Profits Full Yr. Av. Lira Dollars Exchange Rate

1987 L 13,936/295 $10.7/.23 12991988 15,946/325 12.4/.25 12881989 17,118/318 12.5/.23 1370

1990 16,788/268 14.0/.22 11981991 17,351/152 14.1/.12 12401992 20,428/34 16.6/.03 12301993 23,138/26 14.7/.02 15711994 25,000/?? 15.5/?? 1612The above sales information comes from D&B reports.

HISTORY:

- 1968 - CEI was established in Italy as a private partnership. CEI reportedly manufactures transmission and finaldrive parts for Fiat, ESP, Ghinassi, SIRT, and several other Italian replacement parts wholesalers.

- 1976 - CEI joined the Associated Independent Distributors (AID) organization and sales were expanded to aworldwide level.

- 1990 - No longer member of Independent Distributors Association (IDA), formerly AID.

PRODUCTS:

Manufacturer of gears and pinions.


CEI product has been tested as part of Caterpillar's Competitive Parts Test Program, but the CRT and PCB are nolonger considered current. (8/95)

----Their brochure had some Caterpillar gears on it. Our host Piero Silvagni said they no longer scab our parts and wouldlike to become a licensed aftermarket manufacturer of our parts. (SIRT was immediately behind him and a usedconstruction equipment dealer was reported as owning the lot beside him with all the torn down Caterpillars in it.) Iwasn't impressed with anything about this place. On his hob installation he used insert blade hobs on stacked parts.Both reduce quality. The hob had automatic hob change and his magazine had partially used hobs severely burned on35% of their face. The hob also had automatic fixture change. CEI did inspect a part but the trace was done at 1:1along the tooth profile. Even at this level the parallel was wavy and showed a lot of variation. Definitely not a qualityhouse!

CIMA had potential and has demonstrated a fair amount of sophistication in their software capabilities. To furtherqualify them, we are going to have them cut some parts for us in early 1988 on a U.S. built machine in Richmond,Virginia. (Dan Thurman - MFG - 11/87)

MARKETING:PRODUCT SUPPORT, WARRANTY:PRICING:

Pricing (P&MR) Dept. has price list information in the CIS System, the most current being effective Nov. 1, 1990.(8/95)


CEI sells via agents. (8/95 - D&B)----

Distribution as a percent of Sales:Date National Exports Imports

12/31/89 65% 35% 5% (11/91 - D&B)12/31/91 60% 40% 5% (12/92 - D&B)12/31/93 30% 70% 5% (8/95 - D&B)

GENERAL:

CEI ranked as a 'B' Drive Train (Gear) competitor. (8/95)----

Additional information is available in P&MR's Competitive Information Library. (8/95)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Condition is fair, trend is even. (8/95 - D&B)LAST D&B: August 10, 1995LAST PROFILE REVIEW/UPDATE: August 10, 1995DUNS NUMBER: 42-877-7338SIC CODE/DESCRIPTION: 3568 Power Transmission Equipment Manufacturer

DEPCO INC.May 10, 199543CH

INTERNET: http://www.depcoparts.com/

COMPETITIVE TYPE: DistributorRemanufacturer or Rebuilder

MAJOR PRODUCT CLASSES: EngineDrive TrainHydraulic (cylinders)

LOCATIONS:

Headquarters - Noblesville, Indiana11831 State Rd. 238 East

Leases 1,200 sq. ft. in a two story frame building in normal condition. Premises neat. The company operates from atotal of five structures on a 41 acre parcel. The above description represents the office facility. The company uses anadditional 10,000 sq. ft. in a shop/warehouse and 3,500 sq. ft. in another warehouse. The company also owns 2mobile homes on this property which are rented to unrelated parties and includes the rental income on the incomestatement. Suburban business section on well traveled highway. (5/95 - D&B)

EMPLOYMENT:

Apr. 1995 = 12 (5/95 – D&B)

SALES:

Fiscal year ends December 31.

----Net

Year Sales Profits

1992 = $1,097,861 $ 92,505 (5/95 - D&B)1993 = 1,402,983 125,329 (5/95 - D&B)1994 = 2,405,186 114,367 (5/95 - D&B)

HISTORY:

1985 = Business started1993 = December, relocated to Noblesville, IN from Indianapolis, IN.

PRODUCTS:

Wholesales new, used and reconditioned parts for heavy construction equipment (100%). (5/95 - D&B)----

Specializes in parts for Case, Deere, and Caterpillar. Used parts come from disassembled machines. (2/95 - DEPCOLetter)

----Specializes in JI Case And John Deere Replacement Parts. (3/00 - http://www.depcoparts.com/)

----Remanufactured products for JI Case and John Deere machines include: Engines, Torque Converters, Power Shuttles,Final Drives, Cylinders and Differentials. (3/00 - http://www.depcoparts.com/REMANUFA.HTM)


Reportedly new parts are equivalent with the same guarantee as the originals but with better prices. (2/95 - DEPCOLetter)

MARKETING:

February 1995 advertisement in Mexican magazine, Informaquina. Also plans to participate in several constructionindustry expositions. (2/95 - DEPCO Letter)


New parts reportedly have same guarantee as the originals. (2/95 - DEPCO Letter)----

Reman: 6 months/2000 parts warranty.

PRICING:

Good used parts sold at approximately 30% of the price of new. (2/95 - DEPCO Letter)----

No list price information in Pricing (P&MR) Departments CIS System. (5/95)


CEO is Robert W. Drummond (70% ownership) and President is Robert C. Drummond (30%). Robert C. is a formeremployee of Cummins Engine Co. (1982-1984), Caterpillar dealer MacAllister Machinery (1985-1987) and IndustrialTractor, Jacksonville, FL (1988-1990). (5/95 - D&B)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Financial condition strong. (5/95 - D&B)

LAST D&B: May 11, 1995LAST PROFILE REVIEW/UPDATE: May 11, 1995DUNS (D&B NUMBER): 13-957-7712

SIC (CODES): 5082

EQUIPMENT SPARE PARTS AFRICA (PTY) LTD.July 12, 199663HG


MAJOR PRODUCT CLASSES: Undercarriage HydraulicsEngine General UsageGET Not Elsewhere ClassifiedDrive Train

LOCATIONS:

- Isando (Johannesburg), Rep. South Africa- Pretoria, Rep. South Africa- Pinetown, Rep. South Africa- Cape Town, Rep. South Africa- Bloemfontein, Rep. South Africa

In addition to the five branches, ESPA has agents in:

- Botswana- Namibia- Zimbabwe- Swaziland (Dec. 1995/Jan. 1996 - SA Construction World Magazine)

EMPLOYMENT:SALES:HISTORY:

1979 - Company's inception1987 - Became the sole agent for Berco undercarriage products in South Africa at the end of 1987.1998 - September 14, acquired the new replacement parts business of Dozer Parts (Pty) Limited.1999 - To purchase G & R Spares CC which operates in the heavy earthmoving equipment parts business

predominantly in Kwazulu-Natal and Gauteng. The effective date is set at March 1, 1999.----

Used to be an associated company of the former Equipment Spare Parts Italiana S.p.A. (ESPI), responsible for thedirect marketing and distribution of the ESPI manufactured product in South Africa. This affiliation apparently hasbeen dropped, but it is not known when. ESPI has since changed owners/company names twice since then. (12/95)

PRODUCTS:

ESPA describes themselves as a leading supplier of quality replacement parts for Caterpillar and Komatsuearthmoving equipment, Fort Louisville, International and Mack Trucks, and Cummins, Detroit Diesel, Deutz andJohn Deere diesel engines. (Dec. 1995/Jan. 1996 - SA Construction World Magazine.

----

ESP Africa parts purchasing sources by product:

- Cylinder heads Ghinassi- Needle bearings Torrington- Lip type seals CR Services- Cylinder seal kits "Bulldog" (Heavy Equipment Parts Co.)- Gasket kits Phillips or "Bulldog" (HEPCo.)- Engine valves AE (South Africa)- Pistons and liners AE (South Africa)- Filters Fram, GUD and Luber-finer- Undercarriage Berco- GET Apex wear parts (Cat and Bofors type)

EscoItalricambi

- Injectors KM Products or Cat- Engine bearings Miba or Clevite or Glacier- Electrical gauges KM Products- Starting motors & alternators Delco Remy- Hydraulic cartridge type pumps Vickers- Connecting rods and bolts Genuine Cat- Grader side shafts Genuine Cat

(11/95 - MRStevens, COSA & ex-ESP Africa employee)


Refer to Competitive Test Report (CTRENG96-3) for information on 3300 series engine valves purchased as part ofCaterpillar's Competitive Parts Test Program. A Parts Competitive Bulletin (PCB) is to be released by July 23, 1996.(7/96)

----Refer to Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) for information on brandsdistributed by ESP Africa. (12/95)

MARKETING:

Advertises in South African Construction World Magazine. (6/95)

PRODUCT SUPPORT:WARRANTY:PRICING:DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

By far the most series aftermarket competitor Caterpillar faces in South Africa. (11/95 - MRStevens, COSA)----

Agents in East London (Peugair), Port Elizabeth (Earthtek), Botswana (Parts Sales). (6/95 - South AfricanConstruction World Magazine) See LOCATIONS section for what appears to be more current information.

GENERAL:

Subsidiary of Delta Electrical Industries Limited. (1999)----

New General Manager is Andrew Grobler, replacing Ron Los who held the position for 16 years. (1/96)----

Regular member of Independent Distributors Association (IDA). (1995 Membership Roster)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:

ESPA reportedly offers complete parts and repair service and is able to overhaul most types of crawler undercarriage.(Dec. 1995/Jan. 1996 - SA Construction World Magazine)

ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:

According to ESPA, with the 1/96 change in leadership, sthere will be no immediate or drastic changes in thecompany. "We will build on our excellent and respected services to our clients. In the immediate future, we willconcentrate on expanding the range of truck spare parts. As we have become the leading supplier of replacementspare parts for the earthmoving industry, we are now striving to achieve the same for the trucking industry." (Dec.1995/Jan. 1996 - SA Construction World Magazine.

LAST D&B: NoneDUNS (D&B NUMBER):SIC (CODES):

LAST PROFILE REVIEW/UPDATE: July 12, 1996 (minor update 3/20/00)

EXPRESSWAY SPARES PTY LTD.November 6, 199936LD

INTERNET: http://www.expressway.com.au/


MAJOR PRODUCT CLASSES: Engine Parts HydraulicsUndercarriage Drive TrainGET

LOCATIONS:

On the corner of Pacific Highwayand 7 Sancrox Rd,Wauchope,NSW 2446,Australia

EMPLOYMENT:

28, 6 outside salesmen (9/82)

SALES:

Mix is retail 30%, wholesale 70%; new parts 35%, used 65%,

HISTORY:

Formed 1964

PRODUCTS:

Supply new and used parts. Have workshop facilities for reconditioning of heavy equipment plus a repair andmaintenance service for customers. Purchase "redundant spares" from customers and are able to offer them as genuineOEM parts. CofA reports they are also importing genuine Cat parts.

They also offer remanufactured components and complete rebuilt machines.----

New Purchases 6/88 Through their monthly magazine, Expressway announced the purchase of over 300 tons of newgenuine Caterpillar spares and now have over 20,000 line items in stock, as well as a wide range of nongenuninesecond-hand and service exchange components for Caterpillar machines. (CofA, 5/88)

PRODUCT FEATURES:QUALITY:DISTRIBUTION:

Claim to supply replacement and recycled parts for earthmoving, construction, rural and trucking industries inAustralia and neighboring countries.

----Major customers are Cat owners. (8/91 - T210)

PRICING:

Have quoted prices 50% off CCL for large users and 30 - 35% off CCL for one-off parts buyers. (S.M. Whitehead,CofA, 4/88) MARKETING:

Distributes sales publicity to N2 clients. (8/91 - T210)

PRODUCT SUPPORT, WARRANTY:

GENERAL:

Regular member of IDA.----

Patrick Cassegrain, Manager (11/91 - T210)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B:LAST PROFILE REVIEW/UPDATE: 8/27/91 (T210)DUNS (D&B NUMBER):

SIC (CODES):

FAG GROUP - NEWSAugust 15, 200035ERNEWS

http://www.fag.com/

NN INC., SKF, & FAG KUGELFISCHER START EUROBALL JOINT VENTURE FOR BALLMANUFACTURING 8/15/00

On August 1, 2000, NN Inc. (Erwin, TN, USA), SKF (Goteborg, Sweden), and FAG Kugelfischer GeorgSchafer AG (Schweinfurt, Germany) announced that they have finalized their previously announced agreementto form a jointly owned stand-alone company in Europe, named NN Euroball ApS.

The new company has acquired ball factories located in Pinerolo, Italy (SKF), Eltmann, Germany (FAG) andKilkenny, Ireland (NN Inc.) with approximately 700 employees and yearly sales of approximately 95 millionEuro. The company will manufacture and sell high precision chrome steel balls used for ball bearings and otherproducts, and expects that the economy of scale achieved will enhance competitiveness in both cost and quality.

According to the terms of the agreement, NN Inc. will own 54 percent of the shares in the new company, andSKF and FAG will each own 23 percent.

NN Inc. is a leading manufacturer and supplier of precision steel balls to bearing manufacturers and had sales ofUS $85.3 million in 1999. SKF, Sweden, is the world's largest bearing company with sales of SEK 36.7 billionin 1999. FAG Kugelfischer, Germany is one of the largest European bearing manufacturers with sales of DEM3.7 billion in 1999. (8/1/00 - PRNewswire)

NN BALL & ROLLER, SKF, & FAG KUGELFISCHER START JOINT VENTURE FOR BALLMANUFACTURING, FORMING NN EUROBALL APS 4/15/00

On April 10, 2000, NN Ball & Roller , Erwin, TN,USA; SKF, Goteborg/Sweden; and FAG Kugelfischer GeorgSchafer AG, Schweinfurt/Germany; announced they will start a jointly owned stand-alone company in Europe -- NN Euroball ApS-- for the manufacture and sale of chrome steel balls used for ball bearings and otherproducts.

NN Ball & Roller Inc. will have 54 percent of the shares in the new company, SKF and FAG will have 23percent each. NN Euroball ApS plans to start to operate during the summer 2000.

This new company will acquire the ball factories located in Pinerolo, Italy (SKF), Eltmann, Germany (FAG)and Kilkenny, Ireland (NN Ball & Roller Inc.). The number of employees will be approximately 700 and yearlysales will be about 100 million euro. The economy of scale will enhance competitiveness in both cost andquality.

NN Ball & Roller, had sales of $85.3 million US dollars (88 million euro) in 1999. SKF, Sweden, is the world'slargest bearing company with sales of SEK 36.7 billion (4.2 billion euro) in 1999. FAG Kugelfischer, Germanyis one of the largest European bearing manufacturers with sales of DEM 3.7 billion (1.9 billion euro) in 1999.(4/10/00 – News Release)

NN BALL & ROLLER, FAG KUGELFISCHER AND SKF PLAN JOINT VENTURE FOR BALLMANUFACTURING 6/30/99

NN Ball & Roller, Erwin, TN; FAG Kugelfischer Georg Schafer AG, Schweinfurt, Germany; and SKF,Goteborg, Sweden; have agreed to investigate the feasibility of creating a jointly owned stand alone company inEurope for the manufacture and sale of chrome steel balls used for ball bearings and other products.

All the three companies today have steel ball manufacturing facilities in Europe. FAG has a factory in Eitmann,Germany, and SKF has a factory in Pinerolo, Italy, serving internal as well as external customers. NN Ball &Roller has a factory in Kilkenny, Ireland, supplying external customers.

Such a joint venture would become a ball manufacturer with yearly sales of about 100 million Euros and some700 employees. The economy of scale will enhance competitiveness in both cost and quality.

NN Ball & Roller, USA, is a leading manufacturer and supplier of precision steel balls to bearingmanufacturing with sales of 73 million US dollars in 1998. FAG Kugelfischer, Germany, is one of the largestEuropean bearing manufacturers with sales of 3,352 million DEM. SKF, Sweden, is the world's largest bearingcompany with sales of 37,688 million SEK. (6/22/99 - PRNewswire)

FLORIN TRACTOR PARTS INC.November 22, 199631PX


MAJOR PRODUCT CLASSES: Undercarriage (minimal, 2/92)EngineGET (minimal, 2/92)Drive TrainHydraulics

LOCATIONS:

Headquarters - Sacramento, CA8345 Florin Rd.

Industrial section on well traveled street. Leases 5,000 sq. ft. in one story steel building, situated on 5 acres. Premisesowned by officer and leased back to corporation.

Branch - Lee's Summit (Kansas City area), MO1012 North Jib Ct.7,500 sq. ft. (11/96 - D&B)

EMPLOYMENT:

1991 = 8 (4/92 - D&B) Two employees transferred to run Lee's Summit branch. (12/91)Aug 1996 = 10 (8 in CA, 2 in MO)

SALES:HISTORY:

1960 - Business started by Ruben W. Mayes.1992 - Open branch location in Lee's Summit, MO

PRODUCTS:

Florin has been known to deal in surplus Caterpillar parts. (4/93)----

According to Construction Equipment Magazine's 1996 Buyers Guide, Florin offers FP Diesel, Phillips Gasket andHuber Reversible Fan Inc. products. (11/30/95)

----Drive Train planet gears purchased in 1993 from Florin were Italian made, Costruzione Ricambi brand.

----Reportedly Florin (MO) markets a full line of "will fit" parts including SIRT, Ghinassi, Italtractor and Intertractor.

(4/92 - Jeff Lowe, NACD, PSSR)

PRODUCT FEATURES:QUALITY:MARKETING:

Florin exhibited at the CONEXPO - CON/AGG '96 trade show, March 1996 in Las Vegas, NV.


Warranty - Florin Tractor Parts warrants new parts sold by it to be free from defects in material and workmanshipsubject to the following provisions: during the first six months after the date of delivery of the part to the initial userFlorin Tractor Parts will provide a new part, or refund the cost of the part, whichever Florin Tractor Parts elects, inplace of any parts which are found upon its inspection to be defective in material or workmanship. This warranty doesnot include installation or transportation costs. Replacement parts provided under the terms of this warranty arewarranted for the remainder of the warranty period applicable to the product in which installed as if such parts wereoriginal components of that product.

This warranty is expressly in lieu of any other warranties, expressed or implied, including any warranty ofmerchantability or fitness for a particular purpose. Remedies under this warranty are expressly limited to the provisionof parts as specified above. Any claims for loss arising out of failure of the product to operate for any period of time,or special, indirect or consequential damage, or other economic loss are expressly excluded. (2/92 - New ReplacementParts List)

PRICING:

No transaction level price observations in the CPR (Competitive Parts Reports) portion of PMIS as of 11/22/96.----

Parts Pricing Dept. has no price list information newer than 1985. (11/96)


Wholesales (80%) and retails (20%) new and used tractor parts (100%). Lee's Summit, MO branch sells new partsonly. Territory is United States and Canada. Sells to tractor dealers, farmers, contractors. Has 1,200 accounts. (11/96- D&B)

----Also sells rebuilt. (4/92 - Florin Card)

----Florin will continue as a source for direct drop shipments to other dealers' customers. (4/92 - Florin)

----Based on PIERS (Port Import Export Report Service) Florin does not appear to be a direct importer or exporter.(11/92 - PIERS)

----Florin, as of October, 1990, is a member of Telequip National locating and selling network for construction equipmentsalvage yards.

----Member, as of March 1988, of the Peed Parts & Machinery Network

GENERAL:

100% of capital stock is owned by Dana V. Mayes. (11/96 - D&B)----

Business slow in December. (11/96 - D&B)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: November 22, 1996LAST PROFILE REVIEW/UPDATE: November 22, 1996DUNS (D&B NUMBER): 02-902-6564

SIC (CODES): 50 13 52 61

FRICTION PRODUCTS CO.August 24, 199521BU

Joined S.K. Wellman, forming Wellman Friction Products, 6/95, in USA


MAJOR PROJECT CLASSES: Drive Train (Brake Linings)

LOCATIONS:

Headquarters - Medina, OH

Owns 100,000 sq. ft. in one-story brick concrete block building in good condition, industrial section on side street.(6/95 - D&B)

Subsidiary - Hawk Brake Inc., Medina, OH (100%) chartered 1990. Operates as product line of brakes.

Sister subsidiary owned by Hawk - Logan Metal Stampings, Akron, OH (6/95 - D&B)

EMPLOYMENT:

1990 - 107 (5/90 - D&B)1992 - 100 (2/93 - D&B)

Apr 1995 - 105 (6/95 - D&B)

SALES:

1990 - $20,000,000 Projected (5/90 - D&B)1991 - $16,500,000 (2/93 - D&B)1992 - Sales and profits up, compared to 1991. Projected annual sales are $19,500,000 (2/93 - D&B)1995 - $10-$24,900,000 per state manufacturing directory, Friction Products would not provide. (6/95 - D&B)

----Management attributed 1992's upward trend in sales to an increased demand in commercial aircraft braking. Theystated that profits were up due to the increased sales volume as well as cost reductions implemented by management.(2/93 - D&B)

HISTORY:

1952 - Business started as Metallic Friction Products Company Inc. (2/93 - D&B)1962 - Earl S. Wolf acquired control.1962 - June, changed name to Friction Products Co. Inc. (2/93 - D&B)1989 - March, Hawk Corp. acquired the company for $45,000,000. (5/90 - D&B says $10,000,000). Hawk acts

solely as a holding company. (2/93 - D&B)

- 2 -

1994 - The Hawk Group of Companies, Cleveland, Ohio, has acquired Helsel Inc., Campbellsburg, IN, amanufacturer of powder metallurgy parts for the fluid power and hydraulics markets. The Hawk Group,through its Friction Products subsidiary, is a manufacturer of friction materials and powder metallurgyparts. Helsel will remain in its present location with Jess Helsel continuing as president. (10/94 - DieselProgress Engines & Drives Magazines)

1995 - The Hawk Group of Companies acquired, in a $60 million purchase, S.K. Wellman Limited, Inc., fromMLX Corp. of Norcross, GA, effective June 30, 1995. Hawk, a privately held Cleveland, OH, basedcompany which owns Friction Products Co. of Medina, OH, will team the two companies together tomaximize their manufacturing strengths. S.K. Wellman specializes in the production of friction materialsfor brakes, clutches, and transmissions for equipment used in agriculture, construction, and recreation.Friction Products Co. is widely recognized for its high performance friction materials, primarily for theaircraft industry. The combined revenues of these two subsidiaries of The Hawk Group of Companies aremore than $90 million. together, they employ 650 people in various locations. Additional information isavailable in P&MR's Competitive Information Library. (6/30/95 - Business Wire)

PRODUCTS:

Manufacturers brake linings and clutch linings (asbestos free), used in aircraft (65%) and off-highway vehicles andequipment (35%). (6/95 - D&B)

----Their powdered metal parts are compatible with wet friction materials: paper, graphitics and metallics for transmissionuse. (11/92 - GKSpringborn, P&SM, DT)


Friction Products Co. received the 1993 MPIF Ferrous Part of the Year Award at the annual International Conference& Exhibition on Powder Metallurgy & Particulate Materials. The winning part was a 16.25" diameter transmissiondisc designed for Caterpillar construction equipment transmissions. With 3,000-ton presses, among the largest in thepowder metal industry, Friction Products is able to form multilevel powdered metal parts with diameters ranging up to19" and thicknesses up to 3". (9/93 - Diesel Progress, Engines & Drives)

----Friction Products Co. is a certified supplier to Caterpillar for powdered metal plates. Also certified supplier to EatonTransmission Div. (11/92 - GKSpringborn/FPC Brochure)


Pricing (P&MR) Dept. has no list price information in their CIS system. (6/95)


Sells to brake and clutch manufacturers. Territory, United States (95%) and international (5%). (6/95 - D&B)

GENERAL:

- 3 -

Friction Products Co. is still a supplier to Caterpillar (powder metal reaction plates) but are no longer competing in theaftermarket. Aftermarket sales for Cat applications were very small. During their peak year, about three years ago, itreached as high as 10,000 pieces/year. Normally, it hovered around 5,000 pieces/yr. Not sure, but the followingcompanies could be getting the sales vacated by FPC: Borg Warner, GKN, MIBA, Westrock, GEMCO. (8/95 -MDDykstra, Cent. Purch. & JBerlin, FPC)


Quality product, Parent company owns Machine Stamping Co. which supplies disc cores. Implied possibility of moreworldwide business. Very customer-oriented. (11/92 - GKSpringborn, P&SM, DT)


Limited market (North America), mostly bronze product. Biggest interest is in aircraft brakes. (11/92 -GKSpringborn, P&SM, DT)

FUTURE OUTLOOK:LAST D&B: June 13, 1995LAST PROFILE REVIEW/UPDATE: August 24, 1995DUNS (D&B NUMBER): 00-398-1818

SIC (CODES): 37 28, 37 14

GHINASSI GROUPApril 14, 199932AL

INTERNET: http://www.ghinassi.com


MAJOR PRODUCT CLASSES:

Engine Parts Drive Train Hydraulics General Usage

LOCATIONS:

CGR-Ghinassi group consists of two main companies, CGR (Cornelio Ghinassi Ricambi S.p.A.) and OMG (OfficineMeccaniche Ghinassi S.p.A.) and one foundry.

Both CGR (wholesaler/exporter) and OMG (manufacturer) are located in Ravenna, Italy in two plants coveringaltogether more than 10,000 sq. meters.

EMPLOYMENT:

1978 - 551980 - 551986 - 53 OMG1987 - 53 OMG1988 - 150 Turbin, Italy foundry - Not sure if actually owned by Ghinassi.1990 - 45 OMG (D&B, 4/90)

- 24 CGR (D&B, 4/90)1991 - 45 OMG (D&B, 11/92)

- 20 CGR (D&B, 12/92)1992 - 22 CGR (4/94 - D&B, 12/31/92 CGR Financial Statement)1994 - 22 CGR (3/96 - D&B, 12/31/94 CGR Financial Statement)1995 - 32 OMG (6/97 - D&B, 12/31/95 OMG Financial Statement)

- 22 CGR (6/97 - D&B, 12/31/95 CGR Financial Statement)1997 - 32 OMG (4/99 - D&B, 12/31/97 OMG Financial Statement)

- 22 CGR (4/99 - D&B, 12/31/97 CGR Financial Statement)

SALES:

Fiscal year ends Dec. 31. (4/99)----

Full Year Av.Exchange Rate

Lira Approx. Dollars (Lira per (millions) Company (source) (millions) U.S. Dollar)

1976 - -- -- $4.0 (estimated) --1985 - 9.000 OMG (D&B, 6/86) $4.7 19151985 - 7.976 OMG (D&B, 11/87) $4.2 1915

The following 1988-1997 information comes from 11/92 through 4/99 D&Bs and is in millions:

Net Sales/Profits Net Sales/Profits Full Year Av.Lira Dollars Exchange Rate

1988 - OMG L 9,699/ 1,306 $ 7.53/ 1.01 12881988 - CGR 23,192/ 1,492 18.00/ 1.16 12881989 - OMG 10,441/ 1,319 7.62/ .96 13701989 - CGR 29,339/ 1,176 21.42/ .86 13701990 - OMG 10,811/ 649 9.02/ .54 11981990 - CGR 26,336/ 695 21.98/ .58 11981991 - CGR 25,024/ 685 20.18/ .55 12401992 - CGR 22,961/ 274 18.67/ .22 1230.081993 - CGR 31,642/ 3,866 20.14/ 2.46 1570.801994 - CGR 38,496/ 2,184 23.89/ 1.36 1611.701995 - OMG 7,166/ 427 4.40/ .26 1628.93

- CGR 44,979/ 2,946 27.61/ 1.81 1628.931996 - OMG 8,237/ 352 5.34/ .23 1542.95

- CGR 49,906/ 2,512 32.35/ 1.63 1542.951997 - OMG 10,860/ 1,018 6.38/ .60 1703.29

- CGR 54,459/ 3,934 31.97/ 2.31 1703.29

HISTORY:

1927 - CGR first registered in Ravenna, Italy.1980 - OMG established. (Continues the CGR activity of manufacturing spare parts. CGR becomes the

distribution arm of the CGR-Ghinassi group.)

PRODUCTS:

The main activity of CGR-Ghinassi is the production of: replacements parts for earthmoving machines (Caterpillar,etc.).

Cylinder heads for diesel engines, suitable to several makes of tractors, especially Caterpillar, Fiat, Mercedes Benzand others.

Final drive gears and pinions (Caterpillar, Fiat Allis etc.) Miscellaneous spare parts, covering a range of over 15,000items (Caterpillar, etc.)

Engine Parts: cylinder heads, gaskets, crank/camshafts, conn. rods, etc.

Transmission Parts: gears, pinions, pumps, bevel groups, carriers, etc.

Steering Clutch Parts: drums, discs, flanges, etc.

Final Drive Parts: gears, pinions, hubs, shafts, etc.

Front Idler and Sprocket Parts: springs, cylinders, guards, hubs, etc.

Bucket Parts: pins, bushings, trunnions, cylinders, etc.

Pumps: engine, transmission, oil, water, fuel, hydraulic pumps

Misc. Parts: brake, electrical parts, radiators, oil coolers, mufflers, turbochargers, etc. (4/99 - ghinassi.com)----

OMG - Machining of diesel engines cast iron cylinder heads for tractors, wheel loaders, trucks and cars. Also,production of final drive gears, pinions, hubs, etc.

Sub-Contracts - CGR has created a unique network of sub-contractors who are engaged in the machining of thefollowing parts, under CGR supervision:

- engine components (valve guides, valves, precombustion chambers, inserts, piston sleeves, gaskets, radiator cores,etc.)

- transmission parts (gears, pinions, shafts, cages, nuts, etc.)- spider and bearings, universal joints- front idler (collars, bearings, coil springs, cylinders, adjust bolts, etc.)- strips and guards, equalizer bars-pads- pins and bushings for the bucket control- oil and fuel transfer pump assy's, water pump assy's, oil coolers- dozer (trunnions, caps, bearing)- seal groups, o-rings, hydraulic cylinder seals, repair kits- gauges, caps, springs, mufflers- steering clutch drum (inner/outer)- holders, cages, flanges, etc.- carriers and differential grps.- bevel pinions/gears(2/88, CGR brochure)

----Ghinassi announced the introduction of pumps of its own manufacture adaptable to Caterpillar oil, water, fuel andhydraulic pumps, in a general letter to their customers dated April 7, 1988. The letter points out the following:

- The existing production process has been improved and refined thanks to new sophisticated quality controlsystems.

- Every CGR pump is fully interchangeable with the original one.- Every pump is tested individually.- Every pump is delivered with the standard warranty certificate.- Given the large quantities scheduled for production, pricing has also been substantially improved and a special

discount will be granted on predetermined purchase quantities.

The letter was accompanied by a catalog listing 159 Caterpillar part numbers. The brochure implies that the pumpsare manufactured in their plant in Ravenna, Italy. (9/88 - JMEsperet, Rome PSSR)

----Also see PRICING section.


Specific information can be obtained from Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR).


Transaction level price observations are available in the Competitive Parts Report (CPR) portion of PMIS. (4/99)----

Pricing (P&MR) Dept. has list price information in their CIS system, the most current being effective 3/1/92. (4/99)----

COSA Parts Price Announcement In The Industry (PPAI) 11/92 - COSA Parts Pricing calculated the followingGhinassi dollar list price increases between September 1990 and July 1991 price levels:

Major %Class Change

Undercarriage 0.4%Engine 1.2%GET -1.1%Drive Train 0.5%Hydraulic -0.9%General Use -0.8%N E C -0.8% All Parts 0.3%

Above average percentages are weighted by COSA dealers' 1991 orders on Caterpillar.

Compared to the previous document, the latest Ghinassi price list contains an additional 470 line items, bringing thetotal number of priced parts to 12,144. Major additions occurred in Hydraulic, General Usage and NEC parts, i.e.:

ProductCode Description Items

1 Undercarriage 102 Engine 383 GET 265 Drive Train 17

6A Pumps, Motors 126B Hydraulic Cylinders 1456S Seals 136 Hydraulic 179

8B Sleeve Bearings 348H Hardware 148P Pins 388 General Usage 100

9M Plates, Brackets 539Z Miscellaneous 389 NEC 100

Total All Parts 470

(10/26/92 - VAZanzi, COSA, Parts Pricing)----

COSA Parts Price Announcement In The Industry (PPAI) 9/92 - Using COSA dealers 1991 orders on Caterpillar forweighting purposes, COSA Parts Pricing calculated the Ghinassi increased dollar list prices for cylinder heads(Product Code HAA) between February 1991 and March 1992 by an average of 5.6%. Details by part number are asfollows:

1N4304 5.0% 7N6340 10.2% 1P4303 10.3%4N6765 5.0% 8N1187 5.0% 2S9004 10.3%4N7000 15.9% 8N1188 5.1% 5S1884 10.3%7N0858 5.0% 8N6000 5.0% 7S7070 10.2%7N1303 5.0% 8N6004 5.0% 7W0009 5.0%7N3630 10.3% 8N6796 5.0%

(9/92 - VAZanzi, COSA Parts Pricing)----

COSA Parts Price Announcement In The Industry (PPAI) 7/91 - COSA Parts Pricing calculated the followingGhinassi dollar list price changes from their May 1989 list price levels:

Major Class Dec. 1989 Mar. 1990 Sept. 1990 Total

Undercarriage 3.1% 2.4% 1.9% 7.6%Engine Parts 3.3% 2.7% 1.1% 7.3%GET 7.4% 4.8% (0.3%) 12.2%Drive Train Parts 1.3% 3.4% 1.1% 5.9%Hydraulic Parts 2.4% 2.2% 1.3% 6.0%General Usage Parts 2.7% 2.0% 2.1% 7.0%NEC Parts 2.1% 2.0% 1.3% 5.5%All Parts 3.6% 3.1% 0.9% 7.8%

Simultaneously, price levels compared to Cat SCL and product coverage based on COSA 1990 demand weredetermined.

Average List Priceas a Percentage of Product Line New

Major Class Cat June 17, 1991 SCL Coverage Items Additions

Undercarriage 86% 11% 757 37Engine Parts 93% 35% 2,552 107GET 150% 54% 704 166Drive Train Parts 76% 25% 1,705 32Hydraulic Parts 68% 24% 2,056 74General Usage Parts 73% 32% 3,663 173NEC Parts 61% 6% 536 16Total Parts 93% 29% 11,973 605

COSA cautions against drawing rash conclusions from the calculated percentages by major class, which tend todistract from extreme situations that do exist on a product code and/or part number level. For more detailed analysis,individual part number price information is available in the competitive information system maintained by PartsPricing. (6/91 - VAZanzi, COSA, Parts Pricing)

----Price Increases 4/90 - Reportedly due to the devaluation of the U.S. dollar currency against the Italian Lira (almost

10%) Ghinassi has been forced to increase their prices. They also claim increased cost of raw material (forgings andcastings) as a factor. Effective February 15, 1990, prices on miscellaneous parts will increase 3% and cylinder headsjump 5%. (2/90 - CofA/CGR, Ghinassi Customer Letter).

----Prices quoted generally bear no relationship to their published prices (GHAppel, COSA Business Economics, 6/87)


Inventory Levels in Millions: (4/94 through 3/96 - D&Bs)

1990 - L9,956 $8.31991 - 6,092 4.91992 - 6,796 5.51993 - 9,885 6.31994 - 13,041 8.11995 - 12,102 7.41996 - 14,817 9.61997 - 13,288 7.8

----Exports 95% of sales, 5% national. Sells directly and via agents. (4/94 through 4/99 - D&Bs)

----Imports 10% of purchases from Europe and America. (4/99 - D&B)Imports 3% of purchases. (4/94 through 3/96 - D&Bs)

----From January 4, 1994 to February 23, 1995 Ghinassi made eleven known parts shipments into the U.S., nine to RegalEquipment of Knoxville, TN (876,316 pounds total cargo weight), one to Costex of Miami, FL (42,419 pounds) andone to Florin Tractor Parts of Sacramento, CA (42,224 pounds).

----Below is the number of Cat dealers submitting Competitive Parts Reports (CPR) during the latest 8 qtrs. as of 4/99.Additional detail on Cat dealers, distributors, and pricing is available in the CPR portion of PMIS.

NACD – 1 CAPL – 3 CCL – 1 COSA - 10

GENERAL:

Ghinassi is ranked as an 'A' DT (Gear) competitor, an 'A' Engine (Cyl. Head) competitor and a 'B' Hydraulic (Pump,Motor) competitor. (4/99)

----Associate member of Independent Distributors Association (IDA). (1995 Membership Roster)


To diversify and increase the range of the cylinder heads produced. (2/88, Ghinassi Letter)

ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:

FUTURE OUTLOOK:

OMG and CGR financial condition good. (4/99 - D&Bs)

LAST D&Bs:

OMG - April 14, 1999DUNS 43-376-9353 (OMG Officine Meccaniche Ghinassi SpA)Standard Industrial Code (SIC)/Description:3523 - Manufacturing, Agricultural Machinery Manufacturers

CGR - April 14, 1999DUNS 43-173-8541 (CGR Cornelio Ghinassi Ricambi SpA)Standard Industrial Code (SIC)/Description:5013 - Wholesale Trade, Motor Vehicle Part Wholesalers

LAST PROFILE REVIEW/UPDATE: April 14, 1999.

GNL S.P.A. (OFFICINE MECCANICHE GNL SPA)May 10, 199532CB


MAJOR PRODUCT CLASSES: Undercarriage (Seals)Drive Train (Seals)

LOCATIONS:

GNL reportedly owns administrative headquarters, registered office, offices and plant located at 41100 Modena, Italy,totaling 7,000 sq. meters, 4,000 sq. meters are built on. (3/95 D&B)

----***The following LOCATION, EMPLOYMENT, and SALES information comes from LJPaulson's 3/95 Trip Report.A 3/95 D&B report does not list any facilities outside of Modena, and employment and sales information issignificantly less.***

GNL reportedly has small facilities at Nonantola and Vignola, Italy that manufacture the larger rings. 80 people areemployed in total, with 50 at the Modena facility. They operate two shifts currently and as of 3/95 were fullyburdened through October, 1995. Business is so good now that they are considering expanding their building inModena to add more capacity. Annual sales are reportedly in excess of $20 million. (3/95 - LJPaulson, Trip Report)

EMPLOYMENT:

1979 = 50Dec 1992 = 53 (41 laborers, 12 clerks) (3/94 - D&B)

???? = 53 (41 laborers, 12 clerks) (3/95 - D&B)

SALES:

Fiscal year ends December 31.----

The following 1990-1994 sales (Lira) information comes from 3/94 and 3/95 D&Bs:

ExchangeLira Dollars Rate

1979 = L150,000,000 $178,571 --1990 = L8,366,000,000 $6,984,000 1197.921991 = L5,465,000,000 $4,407,000 1240.001992 = L6,491,406,129 $5,277,223 1230.081994 = L8,000,000,000 $4,964,000 1611.70

----1992 Operating Profits L102,324,391 ($83,185) (3/94-D&B)1992 Net Worth L3,711,000,000 ($3,016,877) (3/94-D&B)

HISTORY:

1962 - January, GNL was established as a limited partnership in Modena, Italy by Nicolini Giorgio and LeoniNorberto.

PRODUCTS:

GNL offers seals from 45-886 mm in outer diameter. All seals are a 52100 type steel, forged or ring rolled, turned,heat treated, ground, flat lapped, washed and packaged. They manufacture both the Duo-Cone style of seal group andthe l-shaped cross section typical of CR Industries and Berco HEX. They offer conventional and inverted Duo-Conetype seals. GNL reportedly produces 3-4 million seals per year (it is unclear whether this meant groups or seal rings).

They obtain their forgings primarily from Umbra Richatti, an Italian forging supplier. They do no heat treat in houseand use a variety of suppliers.

GNL offers seals for Caterpillar, Berco, Deere, Case, Fiatallis, etc. applications. (3/95 - LJPaulson Trip Report)----

Manufacturer and wholesaler of industrial vehicle and tractor spare parts. Specializations include seals for track andcarrier rollers, front idlers, sprockets, and final drives for tractors of several makes including Fiat-Allis, International,Komatsu, Deere, Caterpillar and others. (9/89)


GNL expects to be ISO 9002 certified by end of 1995 or first quarter 1996.

GNL exclusively use the 52100 type steel. This has been shown in Caterpillar wear tests to be inadequate for manyapplications. (3/95 - LJPaulson, Trip Report)

----For specific information, refer to the following current Competitive Test Reports (CTR), as of 5/94:

CTRDT94-2 GNL Metal-To-Metal SealCTRDT95-2 GNL Seal Group



GNL reportedly has over 200 customers. They have no OEM accounts. Believed to be Caterpillar's largestaftermarket competitor for Duo-Cone Seals.

----Territory is 40% national, 60% of sales are export. (3/94 and 3/95 -D&Bs)

----

The following are distributors of GNL product according to Cat dealers submitting CPRs during the latest eightquarters as of 3/94:

NACD -American Crane & Tractor

COSA -S.A. Sealing Systems

CofA -Consolidated BearingBearing Services

CFEL -Srinakhon TractorTrack Equip. Co.Joon Chiap TradingMentakab Tractor Pts.Parts Trading Co.Total CorporationWrenco

----As of 5/95 only one observation shown for latest 8 quarters, reported by COSA dealer FSA, distributor is RodajesMalagna.

GENERAL:

Associate Member of Independent Distributors Association (IDA). (1990 Membership Roster)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:

FUTURE OUTLOOK: Financial condition fair, trend even. (3/95-D&B)DUNS (D&B NUMBER): 42-878-6107

SIC (CODES): 35 23 Agricultural Machinery ManufacturersLAST D&B: March 31, 1995LAST PROFILE REVIEW/UPDATE: May 10, 1995

GUYAN MACHINERY COMPANYJuly 25, 200048TL

INTERNET: http://www.guyanmachinery.com/

COMPETITIVE TYPE: DistributorManufacturer

MAJOR PRODUCT CLASS: EngineDrive TrainGETHydraulics

LOCATIONS:

Chapmanville, West VirginiaRt 10., Phico

Branches are located in Prestonburg, Kentucky and Wise, West Virginia

EMPLOYMENT:

1987 - 572

SALES:

Following source is Trinet 11/87 for 1986 data:

Manufacturing sales ($): 11,200,000Nonmanufacturing sales ($): 31,600,000Non-US sales ($): 0Total sales ($) 42,800,000

Primary 4 digit SIC: 5084 (industrial machinery and equipment) $18,500,000Primary 3 digit SIC: 508 (machinery equipment & supplies) $18,500,000Primary 2 digit SIC: 50 (wholesale trade-durable goods) $18,500,000Secondary SIC(s): 7699 (repair services, nec) $13,100,000 3676 (electronic resistors) $11,200,000

HISTORY:

1913 - Established as Guyan Machine Shops1914 - Incorporated as Guyan Machine Shops1935 - Renamed as Guyan Machinery Company1964 - New facility was constructed in Phico, West Virginia in 1964 totaling 64,000 square feet. Later expanded

to over 120,000 square feet.1986 - Established the Heavy Equipment Group.1986 - Purchased Tractor Parts Inc., Kingsport, TN, taking over the Regal non-OEM new replacement parts

franchise for Caterpillar equipment in Eastern KY, WV, and Southwest VA.

PRODUCTS:

Guyan is divided into two profit centers. Energy Products Group and Heavy Equipment Group. The EnergyProducts Group manufactures coal mining equipment , coal preparation plant equipment and encompasses one of thefinest and most responsive repair facilities in the coal industry. The Heavy Equipment Group supplies parts, repairsand field service to the surface mining and construction industry

Guyan Machinery is one of the largest and most complete machining and fabrication facilities in the region. (7/00)----

New parts, used parts, exchange components, plus rebuilds overnight service. Parts, Attachments, Machines for Cat.Brands: "Bulldog", Dennison, Clevite, FP Diesel, Sealed Power, Getco, H&L, Pacal. (7/00)

----"Our cost for new 3306 crankshafts is $750, so it doesn't pay us to buy used crankshafts and take the chance on theprofile being wrong. However, for 348 and 343 crankshafts which may not be available, we will purchase usedones."

Guyan also sells new and rebuilt resistors and heaters. A steel fabrication department is maintained to produce truckbeds, coal chutes, C.M.I. dryers, pumps, vibrator mechanisms, etc. "We exchange the C.M.I. dryer with a rebuiltone, then repair the exchanged dryer and invoice the customer for the repaired dryer." A sister company, Permco, islocated in Streetsboro, Ohio and manufactures water pumps. (2/88)

QUALITY:DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

Serves customers throughout the eastern and mid-western U.S. coal industry. (7/00)

PRICING:

Price lists are not available, but pricing is set on cost plus basis and market conditions. (2/88)

MARKETING:


All components are warranted for six months, or 20,000 miles.

Mark Southern supervises five mechanics in Wise, one in Prestonburg, and three in Chapmanville. Two more willbe added by the end of January. Five field service trucks are operated. Majority of work is repair versus rebuild, butrebuild is growing. (2/88)

GENERAL:APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:DUNS (D&B):SIC (CODE): SIC5084 SIC7699 SIC3676LAST D&B: TRINET 2/88 for 1986 data.LAST PROFILE UPDATE: July 25, 2000

HALADJIAN GROUP, THEMay 20, 199633RF

INTERNET: http://www.haladjian.fr/



LOCATIONS:

Headquarters - Sorgues, France in the Vaucluse region just north of Avignon and also near Nimes.

Branches - Paris- Toulouse- Bordeaux (Autumn 1995 - Esco Ladle)

----Haladjian has constituted additional warehouse facilities: the first known as SOCOTRAC, in the Paris district and thesecond, better known as DREM TP, in the south-west, with warehouses in Bordeaux and Toulouse. (4/96 - BercoNews)

EMPLOYMENT:

1993 = 80 (Winter 1993 Esco Ladle)???? = 85 (4/7/94 Dialog, D&B International)1995 = 135 at their four locations (Autumn 1995 - Esco Ladle)

----Of the 135 employees, 22 are specialists attending to customer needs in the field. Haladjian reportedly has 5,000customers. (4/96 - Berco News)

SALES:

???? = $221,000,000 (Local Currency)(4/7/94 - Dialog, D&B Intrl.)???? = $ 37,824,300 (U.S. Currency)(4/7/94 - Dialog, D&B Intrl.)

Approx. 1994/95 = $260M French Franc Annual Sales, approx. $52M. (Autumn 1995 - Esco Ladle)

HISTORY:

1962 - Founded by Pierre Haladjian, selling spare parts for Caterpillar equipment only.1982 - Pierre's son Serge took over the business and began broadening the business by distributing parts for

virtually all machine makes: Fiat, Komatsu, Poclain, Liebherr, etc., as well as Caterpillar. They alsobroadened their product offering. (Autumn 1995 - Esco Ladle)

1989 - Haladjian's subsidiary in Paris, Socotrac became an Esco dealer.1993 - January 1, the company's main store in Sorgues was appointed the Esco dealer for Southeastern France.

(Winter '93 Esco Ladle)

PRODUCTS:

Haladjian supplies replacement parts for many brands, including Fiat, Komatsu, Liebherr, Caterpillar, and JCB. (4/96- Berco News)

----Haladjian's parts business (no machine sales) falls into four categories: mechanical parts, wear parts, equipment (suchas buckets and couplers), and other products like electronic security systems. They carry about 200 different products,and stock about 100,000 parts at any given time.

Brands offered by Haladjian include but are not limited to the following:

- Esco (GET) - Berco (U/C)- Bucyrus Blades (GET) - Donaldson (Filters)- Remop (S.A. Metalogenia) (GET) - OTC- Kennametal (Cutter Bits) - Parker (Hydraulic)

(Autumn 1995 - Esco Ladle)----

Berco's (undercarriage) connection with Haladjian dates back to the company's founding year, 1962. Haladjian is theexclusive agent for Berco products within the French territory.

The 14,000 sq. meter warehouse in Sorgues, France, carries over 100,000 items. (4/96 - Berco News)


Refer to Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) for the brands offered byHaladjian.


In recent years, a massive investment has allowed expansion of the company's software system which can noweffectively organize and integrate all departments within the group--not only the warehouse, purchase and salesdepartments. By systematically recording and analyzing client data concerning the main technical specifications ofequipment and their maintenance program, Haladjian has built up a databank of information which, among manybenefits, highlights components subject to wear and fatigue.

By gaining a better understanding of the expected working life of such items, the company can forecast individualcustomer service requirements and ensure the necessary spare parts are in stock when needed. (4/96 - Berco News)

PRODUCT WARRANTY:

PRICING:

There has been transaction level price observations available in the Competitive Parts Report (CPR) portion of PMISbut none as of January 1996 (most current eight quarters).


Of Esco's 11 dealerships in France, three are part of the Haladjian Group. According to Esco, Haladjian is theirnumber one dealer in France.

Perhaps no other Esco dealer in the world is as highly computerized as Haladjian. When standard business computerpackages were found lacking, Haladjian established its own programming department. They designed programs notonly to manage purchasing, inventory and deliveries, but also to analyze the market. A database was created ofthousands of customers, their machines, their maintenance schedules, and prospective parts needs. The Haladjianteam has become adept at using the computer database to anticipate customers' needs and to fill those needs speedily.Customers appreciate Haladjian's uncanny ability to nearly always have necessary parts on hand. To assure a reliableinventory of parts from North America, Haladjian operates a purchasing office in New York which ships severalcontainer loads monthly to France. (Autumn 1995 - Esco Ladle

----Strongly focuses on the French market. Part of a network of dealers representing Esco Europe. (Winter 1993 - EscoLadle)

GENERAL:

Haladjian reportedly answers over 1,000 telephone inquiries per day. (4/96 - Berco News)----

Serge Haladjian is president of company. (Autumn 1995 - Esco Ladle)----

Haladjian Freres was added to Caterpillar Export Services (CES) Reseller List May 22, 1995.----

Not a member of Independent Distributors Association (IDA), as of 1995 Membership Roster.


Reportedly Haladjian's commitment to meeting customers' parts needs without being distracted by equipment sales orrepair work has helped them grow. (Autumn 1995 - Esco Ladle)

----"Top quality products backed by outstanding service." (Winter 1993 - Esco Ladle)


According to Haladjian "For each product, we represent the best line, we know and respect the customer, we know theparts and we are quick and dependable in our deliveries. We are better than our competitors in three ways: quality,price and service." (Autumn 1995 - Esco Ladle)


No service capability. (1/96)

FUTURE OUTLOOK:

Over the next two years, they will spend 30 million Francs on capital improvements to buildings -- all to better servecustomers. (Autumn 1995 - Esco Ladle)

LAST D&B: April 7, 1994 (Dialog, File 518, D&B International)LAST PROFILE REVIEW/UPDATE: May 20, 1996DUNS (D&B NUMBER): 27-618-0106

SIC (CODES): 50 82 Construction and Mining Machinery50 85 Industrial Supplies

HARDINGS INC.May 2, 199731RJ



LOCATIONS:

Headquarters - Lowell, Indiana109 W. Commercial Ave.

26,000 sq. ft. in one-story brick and frame building in good condition. Has a total of four buildings at this location.Central business section on main street. (5/97 - D&B)

EMPLOYMENT:

Apr 1990 = 41 (8/90 - D&B)Apr 1992 = 31 (includes 3 part-time) (11/92 - D&B)Apr 1997 = 31 (includes 5 part-time) (5/97 - D&B)

SALES:

Fiscal year ends 12/31.----

Year Sales Net Profit==== ===== ==========1993 = $6,035,639 $1,517,481 (5/97 - D&B)1994 = 6,615,236 1,783,311 (5/97 - D&B)1995 = 6,921,510 1,742,309 (5/97 - D&B)1996 = 6,973,382 -- (5/97 - D&B)

HISTORY:

1925 - Business started by Emil Harding

PRODUCTS:

Harding's advertisement states they are a full service facility for parts and shop and field service, also sales and rentsused construction equipment.

Complete undercarriage rebuild center- Track press service

- Idler welding- Bottom roller and idler exchange program- Large inventory of new and rebuild undercarriage- Free undercarriage inspections

Hydraulic hose building and repair- 2-, 4-, and 6-wire hoses- Crimp-on and press-on capabilities

Ground Engaging Tools- Large inventory of teeth and adapters- Cutting edges- Complete bucket and blade repair

Turbocharger and fuel injection rebuilding serviceComplete engine machine shop and component rebuildingLarge selection of daily supply items including oils, grease, boots, shovels, o-ring kits

Hardings claims to have a huge parts inventory including engine parts, final drive components, loader linkage pins andbearings, filters, steering clutch components, and undercarriage parts for Caterpillar, John Deere, Case, Komatsu,Hitachi, Fiatallis, and most other crawler equipment. (4/14/97 - Construction Digest's Hardhat supplement)

----The following is a list of known suppliers of replacement parts offered by Hardings, extracted from the ConstructionEquipment Magazine's 1997 Buyers Guide, dated Nov. 30, 1996.

Supplier Products======== ========

- AE Clevite Engine Parts- Huber Reversible Fan Engine Fans- Industrial Parts Depot (IPD) Probably Engine and/or GET- Baldwin Filters Filters- Bucyrus Blades GET- Hensley GET & Bucket Div.- Pemberton Inc. Attachments- Italtractor Undercarriage- BLS Enterprises Inc. Track Pads- Parker Hannifin Hose Products Div.- Heavy Equipment Parts Co. "Bulldog" Seals- Federal-Mogul Corp. Probably Engine and/or Seals- S.K. Wellman, Velvetouch Div. Friction Discs- Wise, Co., Inc., The Seats- Burch Manufacturing --- Spectra Inc. --- ACS Industries Inc. Buckets


Reference Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) on brands offered by Hardings.

(5/97)

MARKETING:

Advertises in Construction Digest magazine. (5/97)

PRODUCT SUPPORT:

Hardings offers a nationwide on-line used and surplus parts sourcing service. (4/97 - Construction Digest)

WARRANTY:PRICING:

No pricing information available in either Pricing & Market Research's Competitive Parts Report (CPR) or CISsystems. (5/97)


Claims overnight availability on most nonstock items. Also reportedly an emergency parts delivery service isavailable. (4/97 - Construction Digest)

----Territory is Northern and Central Indiana and Illinois. (4/97 - Construction Digest)

GENERAL:

Ownership is as follows:

50% of capital stock owned by Clarence B. Harding25% of capital stock owned by Clarence E. Harding25% of capital stock owned by Catherine Marshall(5/97 - D&B)

----Hardings is a Regular Member of the Independent Distributors Association (IDA). (1995 Membership Roster)


Financial condition strong. (5/97 - D&B)

ASSESSMENT OF WEAKNESSES:LAST D&B: May 2, 1997LAST PROFILE REVIEW/UPDATE: May 2, 1997DUNS (D&B NUMBER): 00-175-4159SIC (CODES): 5082 Wholesale Trade, Construction & Mining Machinery &

Equipment7699 Business Services, Repair Shops & Related Services, n.e.c.

HEAVYQUIPNovember 11, 199931AZ

(Heavyquip is a tradestyle for Crawler Parts Inc., which is a subsidiary 100% of Jackson Iron & Metal Co. Inc., Jackson,MS. (11/99 - D&B)

INTERNET: http://www.heavyquip.com


MAJOR PRODUCT CLASSES: Undercarriage Drive TrainEngine HydraulicsGET General Usage

LOCATIONS:

Headquarters:

Pearl, MS, 248 N. Pearson Rd. (Hwy 80 & Pearson) - owns 100,000 sq. ft. in one story steel building, industrial section onwell-traveled street. Owns five buildings on premise. (11/99 - D&B)

Branch locations per D&B reports, note changes:

3/98 (9/98-D&B),1/97 (2/97-D&B), and6/95 (1/96-D&B) 6/94 (12/94-D&B) 4/93 (6/93-D&B) 2/92 (12/92-D&B)

Pearl, MS Pearl, MS Pearl, MS Pearl, MS -- Acworth, GA Acworth, GA --Norcross, GA Norcross, GA Norcross, GA Norcross, GAMemphis, TN Memphis, TN Memphis, TN --Nashville, TN Nashville, TN Nashville, TN Nashville, TNKnoxville, TN Knoxville, TN Knoxville, TN Knoxville, TNHouston, TX Houston, TX Houston, TX Houston, TX -- -- -- Mobile, AL -- -- -- Jacksonville, FL6 Branches 7 Branches 7 Branches 7 Branches

----

4/28/99 Branch Locations (8): Pearl, MS; Norcross, GA; Memphis, TN; Nashville, TN; Knoxville, TN; Houston, TX;Jacksonville, FL; Little Rock, AR (newest location). (11/11/99 - D&B)

----

Parent, Jackson Iron & Metal Co., has four other unrelated subsidiaries. (11/99 - D&B)

EMPLOYMENT:

Aug 1985 = 150 (30 at headquarters) (6/86 - D&B)Oct 1986 = 150 (30 at headquarters) (7/87 - D&B)Nov 1988 = 130 (35 at headquarters) (3/89 - D&B)Jan 1991 = 130 (35 at headquarters) (11/91 - D&B)Feb 1992 = 100 (30 at headquarters) (12/92 - D&B)

1993 = 115 (30 at headquarters) (6/93 - D&B)Jun 1994 = 104 (30 at headquarters) (12/94 - D&B)Jun 1995 = 115 (30 at headquarters) (1/96 - D&B)Jan 1997 = 128 (30 at headquarters) (2/97 - D&B)Mar 1998 = 130 (36 at headquarters) (9/98 - D&B)Apr 1999 = 160 (70 at headquarters) (11/99 - D&B)

SALES: (Millions)

1984 = $26.51986 = 23.31988 = 21.11989 = 20.6 (11/91 - D&B)

Feb 1992 = 20.0 projected (12/92 - D&B)Apr 1993 = 22.0 projected (4/93 - D&B)Jun 1994 = 22.0 projected (6/94 - D&B)Jun 1995 = 25.0 projected (1/96 - D&B)Aug 1996 = 25.0 projected (2/97 - D&B)

1997 = 29.0 (9/98 - D&B)Mar 1998 = 32.0 projected (9/98 - D&B)Apr 1999 = 40.0 projected (11/99 - D&B)

----Approx. half of Heavyquip's sales are in undercarriage. (9/98 & 11/99 - Heavyquip, Internet)

----Note percent of sales changes over the years. Information from previous D&B reports (no splits provided since 6/95):

6/95 6/94 7/93 4/93 2/92 1/91 11/88Tractors & Parts 50% 70% 70% 85% 85% 85% 85%Repair Tractors 50% 30% 30% 15% 15% 15% 15%

HISTORY:

1952 - Business started1958 - Present control succeeded. Heavyquip is a trade name for Crawler Parts Inc., subsidiary of Jackson Iron &

Metal Co., Inc. (11/91 - D&B)1984 - Name changed from Jackson Tractor Parts Inc. (retail oriented) and Crawler Parts Inc. (wholesale parent

company) to HeavyQuip. (3/85- Construction Equipment Magazine)

1986 - Opened Jacksonville, FL branch, parts and full service track shop.1987 - Closed Birmingham, AL branch.

- Effective June 1, 1987, Heavyquip (Memphis Branch) evolved into Service and Equipment Co. (SECO). Thename change is a result of taking on the Dresser line of equipment sales and rentals. Name change was to forma new corporation and take on a partner, significantly increasing the capital in SECO. (8/87 - RDJones, PSR,Minneapolis District)

- Sold one or both Alabama locations to Tractor & Equipment Co., Birmingham, AL (OED for Komatsu &Dresser). The Birmingham location owned by T&E is now called Tractor Parts & Service.

- Corbin, KY branch closed in 1987 or before, due to slow business in coal industry and heavy competition fromBrandeis.

1991 - Closed Shreveport, LA outlet after only approximately 6 months. (7/91 - NACD, Houston District)

PRODUCTS:

Wholesales and retails construction parts and services. (9/98 - D&B)----

Heavyquip claims to be the largest independent retail parts and service company in North America, with full service shopslocated throughout the Southeastern United States. Offers an assortment of heavy equipment parts for all types ofmachinery, specializing in: Caterpillar, John Deere, J.I. Case, Dresser, Komatsu, International Harvester and Fiat.

Heavyquip claims to have approx. 100,000 different parts in their inventory as of 11/99. This number is updated regularly andposted on their Internet home page.

Heavyquip sales are about half in undercarriage and the other half in a variety of parts, including ground engaging tools,engines, transmissions, other power train parts and used equipment. Current suppliers for parts are located in the UnitedStates, Italy, Germany, Spain, Austria, Brazil, Australia, Thailand, China, and Argentina. (11/99 - Heavyquip, Internet)

----Heavyquip sells new, used and rebuilt parts for heavy construction equipment. (2/97)

----The following lists the companies Heavyquip represents according to Construction Equipment Magazine's 1999 BuyersGuide, effective 11/30/98:

Competitor Major Class

AE Clevite Engine Parts ENGAnvil AttachmentsAvon Bearings Corp. DT

Bucyrus Blades Inc. GETEarnest Machine Products Co. HRDWFederal-Mogul Corp. ENGH&L Tooth Co. GETHeavy Equipment Parts Co. "Bulldog" ENG, HYDHenderson ManufacturingHensley, G.H. Industries GETHercules Hydraulics HYDIndustrial Parts Depot (IPD) Full LineIntertractor America Corp. (I-trac) U/C, GET?Italtractor America Inc. (ITM) U/CKenco Engineering Inc. GETMiba Frictec GmbH Friction MaterialSvendsgaard, Ira, & Associates

----In addition to the above Buyers Guide information, Heavyquip has been known to source from the following companies:

Anten U/C Nordtrack U/CMTP U/C USCO U/CBerco U/C Sorefa U/CAmeri-Forge U/C Esco GETPyrsa GET and many others GET

----In addition to undercarriage and GET, Heavyquip claims to maintain one of the largest lines of non-undercarriage parts in theUnited States. This includes parts from other technical parts manufacturers.

- Gears- Hydraulic/Internal Oil Pumps- Bearings- Friction Materials- Pins and Bushings- Trunion Balls and Caps- Fuel System Parts- Loader Pin and Bushings- Transmission Parts- Engine Parts- Exhaust Systems(11/99 - Heavyquip, Internet)

----Heavyquip's current suppliers of parts are located in:

- United States - Italy - Germany- Spain - Austria - Brazil

- Australia - Thailand - China- Argentina

Most imported parts are brought into Jackson, Mississippi, and then redistributed to branches and wholesale customers,using weekly stock orders. (11/99 - Heavyquip, Internet)

----Introduces "The Flying Tiger" Winged Bucket Tooth 10/96 - In a brochure recently received, Heavyquip announces theavailability of the new "The Flying Tiger" winged bucket teeth for excavators and backhoes. Since Heavyquip has not beenknown to be a manufacturer, it is believed this is branded product, manufactured by another company. Reportedly specificallydesigned and engineered to penetrate, fracture, and load better than any tooth ever before, Heavyquip lists the followingbenefits, all for the cost of a set of teeth, and guaranteed to improve any machine's productivity and bucket performance:

- Greater Digging/Loading Depth: Bucket starts loading at leading edge of wing, not bucket edge.- Increased Bucket Load Potential: Bucket can heap to leading edge of wing instead of bucket edge.- Substantially Improved Bucket Edge and Shank Wearlife: Material flows up and over the wing directly into bucket.- Extended Tooth Wearlife: Unique winged design reduces "Over Dig"; penetrates, fractures, and loads 60% sooner than a

standard tooth.- Smoother Ditch Bottom: Less ditch bottom disruption; less compaction or gravel needed.(9/96 - Heavyquip Brochure)

----Heavyquip has been appointed exclusive distributor in the Southeastern and South Central states for Caterpillar engines andtransmissions being rebuilt by Hercules Inc.'s Starke, Florida, Forest Resources Division Facility. All parts are backed witha one-year/1500 hour warranty and all labor is covered for 90 days (8/85 - Market Services).

----PIERS, a data base recently made available, allows the tracking of imports into the U.S. This system provides total cargoweight and a very generic product description. The exporter is often the actual manufacturer, but sometimes the name of thetransportation company is listed instead, making the analysis more difficult. According to a PIERS contact, when thetransporter is listed as the exporter, they may be acting as a broker or they could be handling consolidated shipments.

Listed below is a summary of 1991 imports by exporter name:

- Intertractor - 882,798 lbs. total cargo weight from 9/21/91 - 12/26/91. No other imports during 1991.- Rodajes CTD - It is not clear exactly what this Spanish manufacturer of Undercarriage, and a lesser extent GET, is

providing Heavyquip. Total cargo weight during 1991 was 338,826 lbs.- Nord Track - Is an Italian manufacturer, employing 12, with sales reported as 517 million Lira. During 1991 Nord

primarily supplied Heavyquip with track chains and also router bits. Total weight is unclear, but six shipments weremade in 1991.

- Ajax Fasteners - This Australian hardware manufacturer made four shipments; total cargo weight 164,727 lbs.- Union Spares - Italian wholesaler, employing four; made one shipment of 12,090 lbs., reportedly of tractors track.- Comet ITR - (formerly Italparts) one shipment, 13,357 lbs., tractors track.- Higuchi - Track roller assemblies, two shipments, cargo weight total 85,317 lbs., exporter was Hakozaki Trading,

Tokyo, Japan.- Miba - Transporter Van Ommeren. International listed as exporter, two shipments, total cargo weight 3,902 lbs.

- Valbormida - Not sure if this is the Cairo Montenotte, Italy transporter, or the Bubbio, Italy manufacturer of iron andsteel forgings. Three shipments; segment groups (1) and tracks for tractors (2) totaling 121,164 lbs. cargo weight.

- Ricambi - This is kind of a generic name in Italy, but complete name wasn't provided. One shipment in 1991 (20,161lbs), description was tractors tracks, port of origin was Genoa, Italy.

- Spartan Enterprises - This is probably a sales agent, located in Keelung China; two shipments of tractor parts totaling8,211 lbs.

- Shandong Machinery Imports Exports - Most likely either a sales agent or transportation company; one shipment39,550 lbs of chains.

- Pyras - Located in Spain, 3,123 lbs. of machinery accessories

Shipments where Transportation Companies Listed As Exporter:

- Leonardi - two shipments, tractor parts, 121,007 lbs., port of origin is Genoa, Italy- Prisma Spedizioni - three shipments, tractor chains (1), spare parts for tractors (2), 83,488 lbs., port or origin is Genoa,

Italy.- Merzario - one shipment, tracks for tractors, 1,296 lbs., port of origin is Leghorn, Italy- Confreight (Belgium) - one shipment, tractor parts, 1,091 lbs., port of origin is Rotterdam Netherlands- Votainer Consolidation Service - one shipment, tracks for tractors, 2,456 lbs., port of origin is Rotterdam, Netherlands- MF Martinoli - one shipment, tracks for tractors, 228,156 lbs., port of origin is Genoa, Italy

Total cargo weight imported in 1991 is approximately 2.3 million lbs.----

Heavyquip has not concentrated on rebuilding for about the past year. Although some rebuilt cylinder heads and crankshaftsare stocked, no attempt is contemplated to activate any aggressive exchange programs. (2/88)

PRODUCT FEATURES:

Depends upon brands currently offered.

QUALITY:

Depends upon brands currently offered.----

Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) are available on brands Heavyquip carries.(11/99)


Heavyquip has an IBM A/S 400 midrange computer using state of the art programming for real time inventory control andaccounting. All branches and several dealers are tied together using dedicated data lines.

Heavyquip offers an on-line database, via their internet site, availabe to all who have internet access to check Heavyquip'sinventory. (11/99)

WARRANTY:PRICING:

Pricing & Market Research Dept. has not received a Heavyquip price list since 7/22/88 (effective date). (11/99)


Heavyquip and Regal Corporation reportedly reach distribution agreement. Caterpillar dealer Thompson Machineryreported that Heavyquip had reached an agreement with Regal to set up all Heavyquip locations as Regal parts distributors.(NACD, Central/Plains Regions, April 1998 Monthly Report)

----Heavyquip's primary retail coverage is in:

- Texas - Arkansas - Alabama - Georgia- Louisiana - Tennessee - North Carolina - Florida- Mississippi - Kentucky - South Carolina

Heavyquip also conducts wholesale business all over the United States, concentrating east of the Rocky Mountains.

Most imported parts are brought into Jackson, Mississippi through the Port of New Orleans, and then redistributed to theirbranches and wholesale customers using weekly stock orders.

Heavyquip offers a 10% discount off customers' first order if they fill out the Registration Form on Heavyquip's internet site.(11/99 - Heavyquip, Internet)

----Below are the Cat dealers who have submitted Competitive Parts Reports (CPR) during the latest eight quarters, as of9/14/98:

- MacAllister- Whayne Supply

GENERAL:

Heavyquip is considered as a 'D' (Major Distributor) competitor. (3/00)----

Heavyquip CEO, Clay Crystal, is the President of the Independent Distributors Association (IDA). (11/99 - IDA,http://www.idaparts.org/idaboard.html)

----All Heavyquip locations are regular members of the Independent Distributors Association (IDA). (1995 MembershipRoster)


Heavyquip targets those dealers that have a potential of $50,000 sales per month in undercarriage, final drives, blades,cutting edges, and smaller parts. Marketing strategy includes directing dealers to use low-price undercarriage as a lead-in toselling smaller parts at higher profitability. "There is no money to be made in undercarriage." The majority of Ruttman'sefforts embrace this philosophy. (8/85 - Market Services)

----Place branches where economic level of business is high and undercarriage competition is not too strong. Pull out if either ofthose factors change negatively. Use well-paid salesmen to negotiate deals. (8/85 - Market Services)


Heavyquip CEO, Clay Crystal, is the President of the Independent Distributors Association (IDA), which acts as aliaison between independent replacement parts distributors and replacement parts manufacturers. (11/99)

----Service shop at each branch. (2/97)

----Strengths are reasonably sophisticated marketing efforts (telemarketing, advertising plan well-paid salesmen), comparativelylow prices and flexibility to negotiate deals. (1986)

ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Financing secured (11/99 - D&B)LAST D&B: November 11, 1999LAST PROFILE REVIEW/UPDATE: November 11, 1999DUNS (D&B NUMBER): 04-729-6249

SIC CODES/DESCRIPTION:52 11 Retail Trade50 82 Wholesale Trade, Construction and Mining Machinery and Equipment

HEAVYQUIP – NEWSMay 31, 200031AZNEWS

'D' Full Line Competitor http://www.heavyquip.com/----

CONTINUES GROWTH, ANNOUNCES TWO MORE NEW LOCATIONS 5/31/00

This independent parts distributor has recently announced new locations in Kosciusko, Mississippi and Jackson,Tennessee. (4/2000 - Parts Connection Quarterly)

Kosciusko, MS is located approx. 80 miles northeast of Heavyquip’s Pearl, MS headquarters.

Jackson, TN is located in southwest Tennessee, between Heavyquip’s Nashville and Memphis branches. Jackson isapprox. 80 miles northeast of Memphis and approx. 130 miles southwest of Nashville.

It appears that in the last couple of years, Heavyquip has also opened branches in Jacksonville, FL, Dade City(Tampa), FL, Little Rock, AR, and Kansas City, KS, bringing the total to 12 locations.

Based on D&B reports, the following illustrates Heavyquip’s employment growth in recent years:

Month/Year* Employees

April 1999 160 employees (70 at headquarters)March 1998 130 employees (36 at headquarters)June 1995 115 employees (30 at headquarters)February 1992 100 employees (30 at headquarters)

* D&B interview date.

HEAVYQUIP AND REGAL REPORTEDLY REACH DISTRIBUTION AGREEMENT 7/98

Caterpillar dealer Thompson Machinery reported that Heavyquip had reached an agreement with Regal to set up allHeavyquip locations as Regal parts distributors. (NACD, Central/Plains Regions, April 1998 Monthly Report)

INDUSTRIAL PARTS DEPOT (IPD) – NEWSJune 15, 200031CHNEWS

http://www.ipdparts.com/

IPD NEW PRODUCT ADDITIONS INCLUDE BLOCK REPAIR PARTS, MISC. OTHER 6/15/00

IPD says "Save that old engine". During the last quarter, IPD has added to their product line, block repair parts forCaterpillar 3200, 3300, 3400, 342, 343, 346, 348, 349, 1693, 353, 379, 398, 399, and 3500 series engines.

They have also added additional offerings of Valve Seats/Guides, Pistons, Cylinder Kits, Gasket Sets, In FrameOverhaul Kits, and misc. other for Caterpillar applications. (4/00 - IPD, Internet)

PART PRICE ANNOUNCEMENT, 9/12/94 VS. 6/29/98 11/98

Pricing & Market Research calculated the following IPD net and list price changes from their 9/12/94 list price levelsto their 6/29/98 levels on selected parts. Additional detail is available. Direct all questions to Brad L. Sauder.

Total % ChangeMajor/Minor Class Net List

2A Piston, Rod, Liner & Related Parts -15.9% -9.0%2C Cylinder Head and Valve Parts 11.5% 10.1%

2D Cooling System Parts 20.2% 15.5%2E Air Intake and Exhaust System 8.0% 4.0%

2G Fuel System Parts -3.7% 3.1%2H Engine Gaskets 14.4% 14.4%2K Turbochargers 8.2% 5.2%

2Q Engine Bearings 10.4% 10.8%2R Filters 18.4% 15.6%

5H Transmission Gaskets 9.4% 9.2%6S Seals 1.1% 4.3%

8B Sleeve Bearings - Except Engine 7.3% 7.5%8H Hardware 19.6% 13.8%

8J Gaskets and Shims 22.9% 10.3%Total 10.7% 8.6%

INDUSTRIAL PARTS DEPOT (IPD)February 8, 199931CH

Also see 31CH-NEWS for additional information----

INTERNET: http://www.ipdparts.com

COMPETITIVE TYPE: Manufacturer (GET, Engine)Distributor

MAJOR PRODUCT CLASSES: Engine Drive TrainGET Hydraulics

Undercarriage

LOCATIONS:

World headquarters/manufacturing - Torrance, California23231 S. Normandie Ave.

Leases 130,000 sq. ft. in one-story concrete-block building situated on seven acres of land. There are a total of threeone-story buildings on the property. Industrial section on main street. (6/98 - D&B)

IPD sales or distribution centers are located in the following cities/country: (6/98 - D&B)

- Phoenix, Arizona- Salt Lake City, Utah- Portland, Oregon- Cleveland, Ohio- Livermore, California (Near San Francisco)- Norcross, Georgia (Near Atlanta)- El Cajon, California (Near San Diego)- Houston, Texas- N. Las Vegas, Nevada (not on 12/94 D&B)- Kolding, Denmark (not on 12/94 D&B) Distribution center for Europe.- New South Whales (Sydney), Australia

EMPLOYMENT:

1974 - 391975 - 451977 - 75, 45 At headquarters1978 - 100, 75 At headquarters1979 - 180, 90 At headquarters

1980 - 2001982 - 225, 90 At headquarters (D&B, 4/83)1983 - 265, 90 At headquarters (D&B, 8/84)1984 - 330, 110 At headquarters (D&B, 9/85)1985 - 330, 110 At headquarters (D&B, 10/86)1986 - 350, 175 At headquarters (D&B, 7/87)1988 - 330, 175 At headquarters (D&B, 6/89)

Apr 1990 - 350, 175 At headquarters (D&B, 4/90)Jan 1991 - 350, 175 At headquarters (D&B, 6/91)May 1993 - 300, 160 At headquarters (D&B, 11/93)Sep 1994 - 260, 150 At headquarters (D&B, 12/94)May 1995 - 230, 150 At headquarters (D&B, 8/95)Mar 1996 - 230, 150 At headquarters (D&B, 11/96)Mar 1997 - 300, 225 At headquarters (6/98 - D&B)Jun 1998 - 300, 225 At headquarters (6/98 - D&B)Dec 1998 - 300, 225 At headquarters (2/99 - D&B)

SALES:

Fiscal year ends September 30.

----1974 - $ 4,000,000 (D&B)1975 - $ 7,000,000 (D&B)1978 - $15,000,000 (D&B)1979 - $19,500,000 (D&B)1980 - $25,000,000 (D&B)1981 - $32,000,000 (D&B, 2/82)1982 - $30,000,000 (D&B Financial Profile, 12/83)1983 - $28,000,000 (D&B, 8/84)1984 - $39,045,000 (D&B, 9/85)1985 - $39,000,000 (D&B, 9/86)1986 - $39,000,000 projected (D&B, 10/86)1987 - $43,000,000 projected (D&B, 7/87)1988 - $46,304,000 - Nov. 1, 1987 through Oct. 30, 1988

15,304,000 - Gross profit1,350,000 - Net Income (D&B, 4/90)

1989 - $42,051,924 - Oct. l, 1988 through Sept. 30, 198913,808,326 - Gross profit1,089,306 - Net Income (D&B, 4/90)

Revenues decreased due to the sale of the IPD location in Cincinnati, OH.

1990 - $43,000,000 projected (D&B, 4/90)1991 - $39,000,000 (D&B , 11/93)1992 - $38,000,000 (D&B , 11/93)1993 - $39,500,000 Profits = $500,000 - (D&B, 12/94)

1994 - $39,500,000 projected 5/3/94 (D&B, 12/94)- 20% of total 1994 sales are derived from export. Over the last 3 years, international sales have beenup. (D&B, 12/94)- $39,928,261 Profits=$1,855,397 (D&B, 8/95)

1995 - $41,000,000 projected 5/3/95 (D&B, 8/95)- No 1995 sales information on 11/96 D&B, but worth has increased $4,157,000 in last two years, toSept. '95 level of $14,904,344.

1996 - $43,101,000 (6/98 - D&B)1997 - $48,906,840 (2/99 - D&B)

----20% of total sales are derived from export. (2/99 - D&B)

HISTORY:

1955 - Industrial Parts Depot, Inc. (IPD) was incorporated in Torrance, California by Robert Rasmussen.1957 - Pacific Tractor & Equipment was formed as a leasing company. Leased tractors are used to test IPD's

parts products. 1976 - IPD purchased Renker Tool and Gauge in Thousand Oaks, California.1979 - IPD purchased Paramount Supply, an independent wholesale and retail parts dealer in Cleveland, Ohio,

with branches in Columbus and Cincinnati. This was the first significant expansion into theNortheastern U.S. The Ohio based operations were renamed on Jan. 1, 1982, Industrial Parts Depot,Inc., Paramount Division and have equipped the Cincinnati branch with dozer and scraper edgemanufacturing and heat treating equipment. Cincinnati branch sold January 1989, now known asIndustrial Parts of Cincinnati (IPC).

1980 - 70% of sales are from the manufacture of cutting edges.- IPD purchased Jahn's Quality Pistons, a former supplier of pistons and castings. Jahn's was sold in 1985

and IPD installed their own foundry for making pistons and castings.1981 - Industrial Parts Depot International Inc., chartered to market IPD products throughout the free world. This

subsidiary has since been dissolved. (D&B, 4/90)1989 - Purchased equipment from Earle M. Jorgensen Co. (Steel Processor) to apply tungsten-carbide material

onto wear parts; i.e., cutting edges.1992 - Closed Commerce City, CO (near Denver) facility.1996 - Expands warehouse in Torrance, CA. According to IPD's Internet site, last updated 6/15/96, their main

warehouse in Torrance, California, had just expanded into another 33,000 sq. ft. building. Reportedly, IPDbadly needed the room to continue increasing product coverage and market growth. (11/96 - Internet)

1997 - Opens new branch in Sydney, Australia. IPD recently opened their Distribution Center for Australia andNew Zealand. IPD Australia Pty. Ltd. is located at 14 Prince William Drive, Seven Hills N.S.W. 2147,Sydney, Australia. (2/97 - IPD Internet)

PRODUCTS:

The following comes from IPD's Internet site (11/96):

"IPD differs from traditional aftermarket companies by not simply imitating Original Equipment Manufacturers(OEMs), but by offering products that have been developed with the input of our customers. IPD innovations offeroptions to an engine rebuilder that will improve the performance and extend the service life of diesel engines. IPDinnovations in ground engaging tool manufacturing include being first to develop hot formed end-bits, first to

provide shaped and differentially heat-treated grouser bars, and pioneering the use of Boron steel alloys to improvetool life and reduce breakage. IPD--Innovation, not imitation!"

Engine Parts - IPD's heavy duty engine products for most applications will include many of the following items:

- New Cylinder Head Castings- Valves and Valve Train Components- Engine Bearings- New Water and Oil Pumps, and Repair Parts- New and Remanufactured Fuel Injection Pumps and Components- Valve Lifters, Including Roller Types for 3200, 3400 & 3500 Engines- New Camshafts and Crankshafts- Crankshaft Vibration Dampeners- Flywheel Ring Gears- New and Remanufactured Turbochargers and Parts- Special Service Tools for the Diesel Engine Repair Market

IPD's Caterpillar engine series coverage includes: 311, 315, 318, 336, 330, 333, 336, 339, 342, 343, 346, 348, 349,353, 379, 397, 398, 399, 1100, 1600, 3100, 3200, 3300, 3400 and 3500. IPD also carries parts for natural gasapplications.

Ground Engaging Tools - IPD's ground engaging tools are available for a wide range of equipment. In addition,IPD will custom manufacture many items to customer specifications. Field specialists are available to helpevaluate and design tools for particular applications at no charge.

- Cutting Edges for Dozers, Scrapers & Loaders (custom blades and tungsten carbide available.- Bucket & Ripper Teeth- Grader Blades- Tamper Caps- Corner & End Bits- Shanks & Shank Protectors- Grouser Bars- Bogie Guides- Saddle Repair Blocks- Plow Bolts, Nuts, Pins, Locks & Accessories

Elevating Scraper Parts:

- Asphalt, Paver, Pick-up, Scraper & Undercarriage Chain- Sprockets- Flight & Sprocket Bolt Kits- Idler & Roller Assemblies- Guides, Brackets & Inserts- Router Bits & Blades(11/96 - IPD, Internet)

----

There is nothing currently on IPD's Internet site about Drive Train or Hydraulic product offering. (11/96)----

Agrees to mark rebuilt fuel nozzles with "REMFG-IPD". At the request of Caterpillar, through our PatentDepartment, IPD has agreed to comply with Federal Trade Commission (FTC) rules by identifying fuel nozzlesthey rebuild with a "REMFG-IPD" stamped in the housing in a permanent manner. (5/97)

IPD has since provided Caterpillar with an acceptably identified IPD rebuilt nozzle. (5/13/97 - E.C. Goodale, PatentDept.)

----Expands Remanufactured Engine Components Product Line. NACD, L.A. District, obtained an Industrial Parts Depot(IPD) remanufactured products price list, effected date August 1, 1995. Over the years, we have occasionally heardthat IPD was offering some Reman product, including cylinder heads and 3208 Engines, but this is the first time wehave actually received a complete price list of the products they are currently offering. It appears they have at leastincreased their coverage of reman product. We are unsure how much if any of the remanufacturing IPD is actuallydoing themselves. If not done by IPD, we do not know where they are sourcing the reman components. According tothe price list, IPD is now offering the following remanufactured product for Caterpillar engines:

- Camshafts and Kits - Fuel Injection Nozzles- Connecting Rods - Long Blocks- Crankshafts - Short Blocks- Cylinder Heads - Water Pumps- Cylinder Packs

Although the provided list does not display the IPD name or logo, like all other literature we have seen, we have beenassured by a customer that IPD is offering the above product and that they have used the cylinder packs. Model andpart number detail is available in P&MR's Competitive Information Library, AH9410. If anyone has additional detail,please share it with us. (8/1/95 - IPD Price List and RBRodgers, P&MR)

----From June 12, 1995, to September 26, 1996, IPD imported seven shipments via water, totaling 108,202 lbs. cargoweight. Below is a summary by exporter.

Exporter City/Country Arrived Cargo Lbs. Description======== ============ ======= ========== ===========

Metisa ?, Brazil 09/26/96 45,437 Grouser Bars

Metalurgica Mogi Guacu, 07/12/96 24,398 Piston Parts Mogi Guacu Brazil 03/13/96 31,351 Piston Parts

Total: 55,749

Colmeia ?, Brazil 07/21/95 1,732 Auto Parts

Sudo Gasket Tokyo, Japan 09/10/96 2,103 A F Gaskets

Vishal Gujarat, 01/02/96 1,940 Piston Sets Mallcables India

National ?, Kuwait 06/12/95 1,241 Spare Parts Engineering

(11/20/96 - PIERS Report)----

Manufactures and distributes replacement parts for diesel engines and heavy equipment (100%). (2/99 - D&B)----

Eight percent of total purchases are imports. Major countries of import are Brazil and Japan. (2/99, 6/98, 11/96 and8/95 D&Bs) On 12/94 D&B, Italy was included in this 8%.

----IPD does do some manufacturing, but does not manufacture all the parts they sell. Engine parts sales are considered tobe larger than 30%. (8/92 - JMCoker, Eng. Div., Cust. Services)

----IPD manufactures their own line of GET cutting edges and end bits, including motor grader edges. (GRKlett, 5/90)

----Engine parts manufactured by IPD include pistons, liners, and fuel nozzles.(1990)

----IPD also acts as a distributor for many other parts manufacturers. Most of the following partial list of manufacturerswas obtained from Construction Equipment Magazine's 1990 Buyer's Guide:

Supplier Product (Source of Info.)======== ==========================

ESCO GETH&L Tooth Co. Tips/Adapters (CPRs)Hensley, G.H. Tips/Adapters (CPRs)Berkley Forge Tips/AdaptersPengo Tips/Adapters (H190, 9/89)Corona Clipper & Forge Co. Bucket & Trencher Tips (H190, 9/89)Miba Sintermetall AG --Phillips Gasket GasketsCalifornia Gasket & Rubber Corp. (CGR) (Dan Donaldson, Reman, 11/95)Italtractor U/CBerco U/C (CPRs)Clevite Heavy Duty Engine Parts Engine partsFederal-Mogul Corp. Engine bearingsGhinassi Cylinder Heads (H190, 9/89)Dipaco Inc. Fuel systemsPyramid Parts, Div. of American Alloy Corp. --Baldwin Filters FiltersMcCaffrey, M.P., Inc. BucketsRoto-Master (Merged into Garrett 3/88) TurbochargersStanadyne Diesel Systems Fuel SystemsTrek, Div. of Letts Industries --CEI (Italy) DT Gears

Other manufacturers that have been reported as suppliers to IPD.

Supplier Products

Mayo Radiators Cores 1/80Ohio Crankshaft Div. of Park-Ohio Industries Crankshafts 10/87Ajax HardwareSchwitzer TurbochargersSIRT Engine & Drive TrainAeroquip Hose & Fittings

PRODUCT FEATURES:

IPD claims the following features:

- IPD offers the innovative 3-ring piston for the 3200 series which has been proven to reduce blow-by andincrease power and engine life. This design is so effective, the OEM uses it now too!

- For special mining and extreme cold climate operation, IPD developed and now offers special high-compression pistons for the 3300 series.

- IPD modified the skirt design of the 3400 series piston to improve strength and oil retention.- Certain applications of the 3400 series engines experience oil cavitation problems leading to damaged

crankshaft bearings. IPD offers an optional bearing set having a pressure relief groove that helps controlcavitation and promotes optimum service life.

- All IPD Cat liners are manufactured using premium alloys and induction-hardening to assure liner flangestrength and improved wear resistance. (11/96 - IPD, Internet)

QUALITY:

"Providing a high-quality, reasonably-priced alternative to original equipment replacement parts is a main objective ofIPD. To assure our capability to deliver the best overall value to our customers, IPD has committed itself to adaptingits quality system to one based on the ISO 9000 standard. It will be a lengthy process." (11/96 - IPD, Internet)

----Specific information on products manufactured +/or distributed by IPD can be obtained from the CTRS and PCBSportion of the MIS text retrieval system "FIND." (11/96)

----RECEIVES "QUALITY VENDOR" STATUS FROM U.S. GOVERNMENT - IPD reports they have been awarded"Quality Vendor" status by the U.S. government for three consecutive years. IPD says rebuilders rely on it for thehighest quality, technical support, and availability. They also claim that parts are made in the U.S. and only IPD partsgo in IPD boxes. In addition, IPD states consistency is an IPD hallmark. (2/95 - Truck Parts & Service Magazine)


IPD claims to have a nationwide network of distribution depots and over 400 worldwide dealers. (11/96 - IPD,Internet)

----

Percent of sales by customer type and region:

Customer Type Region============= ======

Dealers Retailers U.S. International======= ========= ==== =============

Jul 1987 -- -- 85% 15%Feb 1989 -- -- 88% 12%Apr 1990 -- -- 88% 12%Jan 1991 -- -- 88% 12%May 1993 -- -- 80% 20%Sep 1994 65% 35% 80% 20%May 1995 70% 30% 80% 20%Mar 1996 70% 30% 80% 20%Mar 1997 -- -- 80% 20%Jun 1998 -- -- 80% 20%Dec 1998 -- -- 80% 20%

(Various D&B reports)----

Major countries of export:

Sep 1994 - Mexico, Canada, Australia, Middle Eastern CountriesMay 1995 - Mexico, Canada, Australia, South America, Latin America and Middle Eastern Countries (20%).Mar 1996 - Same as May 1995.Mar 1997 - Same as May 1995.Jun 1998 - Same as May 1995.Dec 1998 - Same as May 1995.

(Various D&B reports)----

From April 26, 1995, to September 7, 1996, IPD made 19 export shipments via water, totaling 85,051 lbs. cargoweight. Below is a summary by destination port.

Destination Port Ship Date Cargo Lbs. Description================ ========= ========== ===========

From IPD's Torrance, CA Headquarters:

Calcutta, India 08/13/96 1,863 Spares for Fishing Vessel

Bombay, India 04/26/95 8,158 Spares for Cat 578

Callao, Peru 07/16/96 1,905 Tractor Parts04/08/96 1,883 Tractor Parts

Total: 3,788

Maracaibo, 07/02/96 2,610 Diesel Engine Parts

Venezuela 07/02/96 1,766 Diesel Engine Parts06/12/96 14,458 Diesel Engine Parts05/11/95 10,726 Diesel Engine Parts

Total: 29,560

Jeddah, 10/28/95 6,063 Diesel Engine Parts Saudi Arabia 09/25/95 7,770 Spares for Cat Machines

Total: 13,833

Cairo, Egypt 09/13/95 2,383 Diesel Engine Parts

Auckland, 06/09/95 1,214 Diesel Engine Parts New Zealand

From IPD's Norcross, GA branch:

St. Thomas, 09/07/96 410 Engine Parts Virgin Islands

Roatan, Honduras 07/19/96 45 Gasket, Bearing, Valve, Etc.

From IPD's Cleveland, OH branch:

Isafjordhur, Iceland 06/06/96 3,201 Diesel Engine Parts03/06/96 3,999 Spare Parts09/08/95 4,101 Engine Parts

Total: 11,301(11/20/96 - PIERS Report)

----Activity in Kuwait - COSA has reported that IPD has become active in Kuwait, promoting their product bydistributing customer testimonial letters. (7/1/93 - MRStevens, COSA, Geneva)

PRICING:

List price information is available in Pricing's CIS system, the most current effective Aug. 1, 1995. (6/98)


Warranty of IPD is perceived as superior. (3/95 - DHarmon, NC Machinery)----

GET - IPD warrants free of charge against breakage all cutting edges, end bits, and router bits sold by IPD ifthe following provisions are met:

o properly installed and used in normal manner

o were defective by virtue of having been broken in use

Warranty excludes labor, hardware, downtime, or other cost or loss associated with product failure.(Brochure, Oregon Logging Conference, 2/89)

Engine - For engine parts manufactured or distributed by IPD or its affiliated companies and distributors andmarketed for use in the U.S. and Canada. Warranted to be free from defects in workmanship andmaterial under normal use for 180 days or 50,000 miles or 1,800 hours of operation, whichever occursfirst from date of installation. Engine parts for on-highway truck applications are warranted for 12months or 100,000 miles, whichever occurs first from date of installation. IPD's responsibility is limitedto repairing or replacing parts they agree have been defective. IPD will reimburse for all parts andlabor, including any progressive damage. IPD will pay for maintenance items such as oil, antifreeze,filters, and hoses that are not reusable due to failure. More detailed information on warranties isavailable in Market Services Competitive Information Library. (11/89)

GENERAL:

Ranked as an 'A' Engine (Cyl. Kit) Competitor, 'A' GET (Edge) Competitor and a 'D' (major distributor) Full-LineCompetitor. (3/00)

----IPD is a privately held company, 50% owned by IPD Trust and 50% by Western Brass Works Inc. (6/98 - D&B)

----Cummins Announces Settlement of Patent Infringement Law Suit - Cummins Engine Co., Inc., announced settlementof a patent infringement lawsuit filed in mid-September 1991, against Industrial Parts Depot (IPD) of Torrance, CA.The complaint involved the unauthorized manufacture and sale by IPD of the patented cylinder liner for the CumminsL10 engine. The settlement provides for a permanent injunction against IPD, prohibiting IPD from making, using, orselling replacement cylinder liners for the Cummins L10 engine. (1/23/92 - Business Wire)


According to IPD, they provide a reasonably priced alternative with OEM integrity, a comprehensive product line, andsuperior customer service. (11/96 - IPD, Internet)

----In the past two years, it is believed that more emphasis has been put on engine parts than undercarriage. (8/92 -JMCoker, Cust. Services, Eng. Div.)

----Recent advertising promotes "IPD Quality Parts" and improvements on OEM designs (extra piston rings compared toCat, Navistar, etc.) (8/92 - JMCoker, Cust. Services, Eng. Div.)


Lack of complete line.Limited engineering capability.Dependent on supplier quality.Changing customer make-up -- more small customers - increased corporate buying. (BSC, 1983)

FUTURE OUTLOOK:

Financial condition good. (2/99 - D&B)

LAST D&B:February 8, 1999DUNS 02-870-1092Standard Industrial Code (SIC)/Description35190200 - Manufactures replacement parts5084 - Wholesale trade, industrial machinery and equipment

LAST PROFILE REVIEW/UPDATE: February 8, 1999

INDUSTRIAL TRACTOR PARTS CO. INC.May 26, 200031IN

INTERNET:


MAJOR PRODUCT CLASSES: Undercarriage (main focus, Berco)

To a minor extent, ITP has been know to offer limited offerings of:

GETDrive TrainHydraulics

LOCATIONS:

Headquarters: Long Island City, New York, 28-15 14th Street

Owns 20,000 sq. ft. in a one story brick building, industrial section on side street. (9/98 - D&B)

Branches:- Scarsborough, ME (Portland area) Industrial Tractor Parts Co. Inc.- Houston, TX Industrial Tractor Parts Co. Inc.- Jefferson, LA (New Orleans area) Industrial Tractor Parts Co. Inc.- Smyrna, GA (Atlanta area) Industrial Tractor Parts of Georgia. Inc.- Harvey, IL (Chicago area) Industrial Tractor Parts of Chicago Inc.- Broken Arrow, OK (Tulsa area) Industrial Tractor Parts of Tulsa Inc.- Connellsville, PA (Pittsburg area) Industrial Tractor Parts of Pennsylvania Inc.- Memphis, TN Industrial Tractor Parts of Tennessee Inc.- Jacksonville, FL (verified 8/28/92) Industrial Tractor Parts of Florida Inc.- Waterford, MI (Detroit area) Industrial Tractor Parts of Michigan Inc.- Woodland (Sacramento area) Industrial Tractor Parts of California Inc.

(1998 ITP Brochure)

EMPLOYMENT:

1980 - 19, 14 at headquarters (10/80 - D&B)1984 - 19, 14 at headquarters (8/84 - D&B)1985 - 29, 16 at headquarters (9/85 - D&B)1990 - 29, 16 at headquarters (11/91 - D&B)1992 - 29, 16 at headquarters (8/92 - D&B)1994 - A conversation with a D&B rep. revealed a minor change in employment (effective 1/94), but ITP still

would not provide sales information. (6/94)

1998 - 54, 18 at headquarters (9/98 – D&B)

SALES:

1980 - $ 3,000,000 (10/80 - D&B)1991 - $16,000,000 estimated (8/92 - Parts Pricing Dept. Study)

----This is a private company. ITP has declined all financial information requested by D&B in recent years. (9/98)

HISTORY:

1956 - Business Started1960 - Business purchased by Maurice Dana1990 - Opened Jacksonville, FL warehouse (formerly Beltrac)1992 - Opened Waterford, MI warehouse in late 1992 or possibly very early 1993.1997 - Approx. April, opened its first West Coast distribution center in Woodland (Sacramento area), California.

PRODUCTS:

ITP is believed to be the largest North American importer of Berco undercarriage components. (5/00)----

In March 1994, Berco D7G undercarriage components were purchased from ITP as part of P&SM's Competitive PartsTest Program. Sorefa segments were provided instead of Berco. (3/94)

----Main focus is undercarriage components. ITP is the largest direct importer of Berco product in the U.S. (7/93 -P&SM, Mkt. Res.)

----In addition to undercarriage, ITP's 1993 catalog offers Caterpillar and Esco style bucket tips and adapters (ETE brand),DT gears (D4 - D8K), hydraulic track adjuster seal kits, and seat cushions and arm rests.

----ITP sells replacement parts for many OEM applications, including the following:

Caterpillar Deere Massey FergusonJ.I. Case Fiat-Allis KomatsuTerex-Euclid Dresser-International LiebherrMitsubishi Hitachi Kobelco

(1/93 - ITP Price Catalog)----

Information obtained from P.I.E.R.S. (Port Import Export Reporting Service) revealed the following:

- In 1991 ITP received 169 shipments, listing Berco as the exporter, totaling 10,036,569 pounds total cargoweight (av. per shipment 59,388 pounds).

- For the first four months of 1992, ITP received 73 shipments, listing Berco as the exporter, totaling 4,374,033pounds total cargo weight (av. per shipment 59,918 pounds).

Sometimes in the PIERS system the name of the transportation company is listed as the exporter instead of the actualmanufacturer. Because of this, and the fact that ITP sells some non-undercarriage products, we ran another PIERSreport listing all imports to ITP excluding Exporter = Berco. Below is a summary of the results for the first 6 monthsof 1992 followed by exporter detail:

- Total cargo weight = 3,517,577 pounds- Total of 75 shipments (av. per shipment 46,901 pounds)

Schiassi Spedizioni Intl., Bologna Italy- Tracks for Tractors and Tractor Parts- Total Cargo Weight = 3,211,964 pounds- Total Shipments = 69- Av. Wt. per shipment = 46,550 pounds

Berti, Bologna, Italy- Tractor Parts- Total Cargo Weight = 43,726 pounds (1 shipment)- This company (apparently an incomplete name) could be in one of the following businesses:

o Freight Transportation Companyo Iron, Steel Forgings Companyo Motor Vehicle Supplies and New Parts Company

Bartolotta Franco, location not provided- Tracks for Tractors- Total Cargo Weight = 43,653 pounds (1 shipment)

Savino Del Bene- Tracks for Tractors- Total Cargo Weight = 87,225 pounds (1 shipment)- Freight Transportation Co., Scandicci, Italy or Basildon, UK-England

Bertoni & Cotti- Tracks for Tractors- Total Cargo Weight = 131,009 pounds (3 shipments)

PRODUCT FEATURES:

See Quality section.

QUALITY:

Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) are available on Berco product. (5/00)

MARKETING:

Advertises in Rock & Dirt magazine. (6/94)


Agrees to change Warranty Statement (7/93): Through Caterpillar's Patent Department, P&SM objected to a portionof Industrial Tractor Parts warranty statement which claims that all parts are guaranteed to be equal or better in qualitythan those of the original manufacturer. ITP is the largest Berco distributor in North America. Our claim was thatthrough P&SM's Competitive Parts Test Program, we have continually proven and released Parts CompetitiveBulletins explaining the advantages of Cat undercarriage components.

Through a mutually accepted compromise, ITP has agreed to change the objected language on their warrantystatement and all other promotional materials to read as follows: "All parts are manufactured of the finest quality steelwith the most rigid workmanship and tolerances to insure they will provide long life with maximum resistance towear." (7/21/93 - Caterpillar Patent Department and Industrial Tractor Parts)

----Warranty: All parts are manufactured of the finest quality steel with the most rigid workmanship and tolerances andare guaranteed to be equal or better in quality and 100% interchangeable with those of the original manufacture.

We guarantee our products to be free from defect in material and to be strictly interchangeable with those parts of theoriginal manufacturer. Except as stated above, we make no warranties, express or implied, of merchantability orfitness for a particular purpose. In case of breach of this warranty or any other duty with respect to the quality of anygoods, the exclusive remedy is replacement. We will replace free of charge, F.O.B. our warehouses, any part whichwe believe proves to be defective in material or workmanship, provided the part or parts were properly installed andused in normal operation. Under no circumstances whatsoever will we recognize claims for labor charges or anyspecial or consequential damages directly or indirectly arising from the use of the product whether based on lostgoodwill, lost resale profits, work stoppage, impairment of other goods, or otherwise, and whether arising out ofbreach of any express or implied warranty, breach of contract, negligence or otherwise, our liability limited strictly tothe replacement of such parts ITP deems defective.

Adjustments will be made only on parts which have been returned to us and have failed under the terms and conditionsof this warranty.

This warranty shall be null and void with respect to any product which has been subject to alteration, repair,rebuilding, improper installation, improper maintenance, abnormal use, or wherein the product is used in assemblies orsub-assemblies employing sub-standard components.

No person or organization, regardless of position, relation, or affiliation with Industrial Tractor Parts is authorized tomodify, amend, add to, or delete from this warranty either verbally or in writing. (1993 - Industrial Tractor PartsCatalog)

PRICING:

Additional information on prompt payment discounts: We previously reported that effective May 10, 1993, inaddition to giving customers 5% off published list, Industrial Tractor Parts will give customers an additional 3% off oflist price for payment within 30 days. ITP's January 17, 1994, price list states: Discounts will remain the same asbefore with the exception that the discount for prompt payment (on accounts that are not past due only!) will be asfollows:

- 5% for 15 days payment (strictly enforced), or- 3% for 30 days payment (strictly enforced).

(1/94 - ITP Price List)----

Most current price list in Parts Pricing Dept. is effective March 1, 1995. (8/95)----

Transaction level price observations are available through the U/C Pricing Analyst via Competitive Parts Reports(CPR) information. This information is no longer available via PMIS. (5/00)

----ITP sells to other distributors at List Price less 20%. In addition they provide a freight allowance equal to 5% of thenet price. Freight terms are F.O.B. their facility. (3/92 - R.J. Wille, NACD, PSSR)

----General Terms of Sale:

Orders - When placing or sending orders, please give part name and part number, and all information useful to itsidentification. ITP cannot be held responsible for errors and/or delays caused by inaccurate or incompleteinformation. Please confirm all telephone orders in writing.

Shipments - State address and routing wanted. All orders not specifying how goods are to be shipped will be routedaccording to ITP's best judgment and without responsibility on their part. No responsibility is assumed for delay,damage or loss to merchandise while in transit. Responsibility ceases upon delivery of shipment to the transportationcompanies from whom a receipt is received showing that the shipment was in good condition when delivered to them.All claims for shortage, error, deficiency, or defectiveness must be reported to ITP immediately upon receipt of goods.

Deliveries - All items listed herein can generally be delivered in great quantities from stock. The delivery terms ofour offers are not absolutely binding. In the case of delayed deliveries the Customer has no right to ask for indemnityor to recover from damages or losses of any kind. (1993 - Industrial Tractor Parts Catalog)

----ITP reportedly operated at a 15% gross margin. (10/88 - J.B. Monachino, NACD, PSSR)


Wholesaler; territory is U.S., Canada, Mexico, Central and South America. (8/92 - P&SM, Mkt. Res.)----

Although Dun & Bradstreet reports indicated ITP's territory is U.S. and Canada, ITP also exports to Central and SouthAmerica. The following was obtained from P.I.E.R.S. (Port Import Export Reporting Service). During the first fivemonths of 1992 ITP exported 222,245 pounds total cargo weight to Central and South America. Of the 14 shipments,12 were from the ITP branch in Jefferson, LA (New Orleans area) and the remaining 2 were from the ITP headquartersin Long Island City, NY.

TotalDestination Point Shipments Cargo Weight

Buenaventura, Colombia 2 52,974 poundsCallao, Peru 2 11,650Sto Tomas, Guatemala 3 19,067Guatemala City, Guatemala 1 18,273

Tegucigalpa, Honduras 3 38,684Pto Cortes, Honduras 1 49,301San Salvador, El Salvador 2 32,296Totals 14 222,245 pounds

----According to August, 1990 information provided by NACD, Houston District, ITP was particularly active at that timein Mexico.

GENERAL:

100% of stock is owned by Maurice Dana and wife Erna. She is not active in this business. (9/98 - D&B)----

Considered by P&SM as a 'D' competitor (major distributor). (5/00)----

ITP is a Regular Member of the Independent Distributors Association (IDA) and has been for a number of years.(6/94 - Advertisement in Rock & Dirt)


By far, ITP is the largest U.S. direct importer of Berco products. This should allow them to obtain the best possiblepricing. Several ITP distribution locations, most relatively close to shipping ports for direct shipments from Italy.(8/92, P&SM, Mkt. Res.)


Predominately Eastern USA locations. (5/00)----

Limited service capabilities, but either does or did offer track press work per 1987 brochure. (8/92 - RBRodgers,P&SM, Mkt. Res.)

FUTURE OUTLOOK:

ITP is reportedly planning on expanding their range by opening wholesale warehouses on the West coast. Citiesmentioned are Sacramento, CA (opened branch here in 1997), and Seattle WA. This is especially attractive as westcoast headquartered Industrial Parts Depot (IPD) continues to de-emphasize their undercarriage business, putting moreemphasis on engine parts. (8/92 - Parts Pricing Dept. Study)

LAST D&B: September 1998DUNS (D&B NUMBER): 01-237-7073SIC CODE/DESCRIPTION:

50 84 Wholesale Trade, Industrial Machine ry and EquipmentLAST PROFILE REVIEW/UPDATE: December 31, 1997 (minor update 5/26/00)

INTERTRAX INC.December 13, 199339FZ

INTERNET: http://www.intertrax.com



LOCATIONS:

Headquarters - Houston, TX117 Upland Drive

Rents 23,000 sq. ft. in one story frame building in good condition, central business section on well traveled street.(12/93-D&B)

Related Concerns:

- Machine Ice Co. (Inc.), Houston, TX. Started 1965. Retails and rents ice machines.

- Interpax Inc., Houston, TX. Started 1968. Wholesales construction equipment and machines. Territory isInternational. Foreign sales are primarily to South America. Stephen Schneider is President-CEO. William Hillnot listed as officer or director. Intercompany relations with related companies consist of similar officers andloans.

EMPLOYMENT:

Sep 1985 = 5 (6/85-D&B)1988 = 7 (9/89-D&B)

Sep 1993 = 14 (12/93-D&B)Dec 1993 = 11 (12/93-WBHill, Intertrax)

SALES:

1986 = $500,000 projected (6/85-D&B)Sep 1993 = 1,200,000 projected (12/93-D&B)Dec 1993 = 3,000,000 approx. (12/93-WBHill, Intertrax)

HISTORY:

1984 - October, business started by officers.1986 - Started selling on consignment (12/93-WBHill, Intertrax)

PRODUCTS:

Intertrax currently deals exclusively in genuine Caterpillar products and do not compete with Cat dealers by sellingdirect to end user customers. (12/93- Intertrax Presentation).

----Wholesale distributor of new (unused) and rebuilt genuine Caterpillar parts. Parts and components have beenpurchased or consigned from dealers and contractors worldwide. (8/90 - Intertrax Letter)

----Main source of parts is from big jobs overseas. (12/93-WBHill, Intertrax)

----When Intertrax has said new, they were referring to unused and are to make necessary modifications to adhere to theCES policy. (9/91-ACDeVooght, CES)

----Several years back, Intertrax unsuccessfully tried to market some new Brazilian replacement parts. They now dealonly in genuine Caterpillar surplus parts. (12/93-WBHill, Intertrax)

----Approximately 30,000 items in stock. (12/93-WBHill, Intertrax)

----Intertrax has not had much success with selling lift truck parts. (12/93-WBHill, Intertrax)

----There is very little chance of Intertrax obtaining parts from Cat dealers that Cat has determined to be a potential safetyproblem, as Cat will pay its dealers more to destroy them than what they could get by selling to Intertrax. (12/93-WBHill, Intertrax)

----Their original intent was to sell only genuine Caterpillar parts. The sourcing was dealer surpluses and left overinventory from contractor projects in South America. Sourcing from Cat Brazilian suppliers was mentioned. Theyalso purchased from the same Cat dealers until their sources dried up at the time of our export prohibition. Now theypurchase wherever and whatever they can - dealer surpluses, project inventories, and straight purchases from overseaswill-fitters. They also deal in parts for cranes, trenchers, etc. (9/88 - JFJolly, PSSR, NACD, Houston)

----Letter to Cat Dealers 12/88 - Surplus Caterpillar Parts

Thank you for your expressed interest in the Intertrax consignment service. We are confident that once you have triedour service, you will be pleased with results provided.

The basics of our consignment services are as follows:

INCOMING FREIGHT

Whichever party pays freight on incoming inventory to Intertrax is reimbursed on the first sales from the inventory tocover this expense. Excluding initial freight to Intertrax, all subsequent sale expenses, i.e., advertising, credit losses,warehousing, outbound freight, etc. are borne exclusively by Intertrax. Essentially inbound freight expenses areshared equally, as they are reimbursed from initial sales in lieu of sharing sale proceeds on those sales.

WAREHOUSING

Each consignment is assigned a separate warehouse number in our computer. As sales are made and entered,inventory levels are reduced within the according warehouse from which they were taken. At the end of each calendarmonth a report of consignment sales is generated on each consignment warehouse and forwarded to owners along withpayment for sales made.

ACCOUNTING

Any owner of consigned inventory at Intertrax is welcome to audit any aspect of the consignment at their discretion.

SELLING PRICE

Intertrax does not retail parts. This would place us in competition with authorized Caterpillar dealers, which accountfor the majority of our sales and much of our inventory. Sale price is determined by Intertrax based upon criteria suchas the condition of the part, age and population of machinery to which part or parts apply, frequency of demand, etc.On average, new Cat parts sold by Intertrax are sold at 40% to 50% of Cat list price.

REMUNERATION

Intertrax retains 50% of selling price for inventory on consignment. Owners are forwarded the remaining 50% at theend of each month in which sales were invoiced. Again, all sales expense and credit risk is borne by Intertrax.

CHARITY OPTION

At owner's discretion, Intertrax will donate any portion of owner proceeds for sales, in the owner's name, to anyrecognized charity of their choice. Intertrax will match owner's contribution to a maximum of 15% from their saleproceeds. Note: charity selected by owner must meet legal description of a non-profit charity organization to employthis option.

UNSALEABLE MERCHANDISE

Despite our best efforts, some consignments will contain items which we are unable to sell within a reasonable term.Once a consignment becomes inactive for a period of 120 days. In other words, no sales occur from a consignment forthis period of time, we will advise the owner of inventory balances, and discuss options. Also, owners will beconsulted dispensation of consigned parts, which are irreparably damaged, unidentifiable, or otherwise unsaleable.

CREDIT REFERENCES

You are welcome to contact any of the following Caterpillar dealers to verify our credit performance:

Darr Equipment Co. - Dallas, TexasAlbert Equipment Co. - Tulsa, OklahomaWheeler Machinery Co. - Salt Lake City, UtahHolt Co. of Texas - San Antonio, Texas

Additional references available on request.

Initially, the consignment option may be unsettling for some. However, we have found our clients are satisfied withand appreciate the service. Likely, the best measure of the value of this service is the fact that most of our clients havecontinued to send us subsequent consignment and we have never had a consignment withdrawn or any expression ofdissatisfaction. This is a tradition we are intent upon maintaining by continually improving the service.

Intertrax can and does market large volumes of Caterpillar parts and components. Our market has substantial diversityto liquidate slow moving materials. Equally important as what we can do, however, is that which we will not do.Intertrax will not sell parts retail, we offer only genuine Cat parts, and business at our company is transacted with thehighest regard for proper business ethics.

Thank you for affording us the opportunity to offer these proposals. We hope to establish a long term businessrelationship with your company and would welcome your input concerning our approach to liquidating dealer surplus.If we may be of further service regarding this or any matter, please advise.

Sincerely, Intertrax, Inc., William B. Hill----

Letter Announcing Product Offerings 12/86 - Following is an Intertrax letter from a general mailing:

"We would like to take this opportunity to introduce Intertrax, Inc. to you.

Intertrax specializes in supplying new and rebuilt, genuine Caterpillar parts and accessories for engines, tractors,loaders, etc.

Our inventory fills over 22,000 square feet of building and, for the most part, is on our computer for fast, efficientservice. Because our inventory is constantly changing due to new purchases of surplus equipment throughout theworld, it is almost impossible to maintain a current inventory list.

We are proud of the fact that some of our best customers are Caterpillar dealers. We invite you to call, telex or mailyour inquiries to us and we promise fast, efficient service as well as savings from 30-50% from Caterpillar's latest listprice." (J. D. Lind - NACD - December 1986).


Advertised in Rock & Dirt magazine 1/93 requesting to sell surplus Caterpillar parts and components on consignmentor outright purchase.

----Offers an 800 phone number and advertises in Rock & Dirt and Boats & Harbors magazines. (12/93-WBHill,Intertrax)

----Solicits Cat dealers via letters with attached price lists. (1986-1990 Letters in P&SM's Competitive InformationLibrary)

----Offers Fiscal Fitness video outlining some of the features of the Intertrax Consignment Service. (1989)

PRODUCT SUPPORT, WARRANTY:

Wholesales to dealers to limit their direct liability. Does not want to address any warranty type issues. (9/91-ACDevooght, CES)

----Invoices state, "No Warranty," but if part or component fails, right away, Intertrax says they will take care of it. Thissituation amounts to well below 1% of sales. (12/93-WBHill, Intertrax)

PRICING:

Terms are net 30 days. (12/93-D&B)----

50% or more of Cat dealer net (12/93-WBHill, Intertrax)----

Cat dealer West Texas Equipment Co. reported Intertrax was "killing us on price. We already lost a few deals tothem". (9/90)


Territory is United States and Canada, has 900 accounts, sells to industrial concerns. (12/93-D&B)----

A few of Intertrax top clients (consignors) are:

- Occidental Petroleum Corp.- Michigan Cat- Parker Technologies- ? Ocianics

A few of Intertrax top customers are:

- Michigan Cat- Mustang- Darr Equipment Co.- Holt Co. of Texas

(12/93-WBHill, Intertrax)----

Consigns for approx. 20 U.S. Cat dealers and sells to most all U.S. Cat dealers. Most business is in the U.S. (12/93-WBHill Intertrax)

----Consignment parts are sold ahead of Intertrax owned inventory. Every part is tagged with consignor number andcondition code:

0 = Used Cat 5 = Unused, Fair1 = Unused, in Box 6 = Unused, Take-Off2 = Unused, No Box 7 = Unused, Poor3 = Unused, Good 8 = Incomplete4 = Cat Core 9 = Rebuilt Cat

(12/93-WBHill, Intertrax)----

Intertrax sells to Cat dealers, used parts operations, repair facilities, but reportedly do not sell to end users. Will referend users to Intertrax customers. The reason for not selling to end users is it would not be in the best interest ofIntertrax to damage their relationships with Cat dealers. (12/93-WBHill, Intertrax)

----After visit to Intertrax, they were removed from Caterpillar Export Services' (CES) Reseller List on October 2, 1991.(10/91-ACDeVooght, CES)

----Intertrax is reportedly hooked up to several parts network systems. (9/88 - JFJolly, PSSR, NACD, Houston).

GENERAL:

100% of capitol stock is owned by officers.

Stephen Schneider (President)

- 1952-59 with Caterpillar Tractor Co. in Brazil, South America.- 1959-60 with OESTA in Brazil, South America.- 1960-64 with Laco Co., Houston, TX.- 1964 to present with Machine Ice Co. (Inc.), Houston, TX.- 1968 to present with Interpax Inc., Houston, Tx.- 1984 to present active here.

William Hill (Vice President)

- 1973-86 employed by Mustang Caterpillar, Houston, TX.- 1983-84 employed by Import/Export International Railway, Houston, TX.- 1984 to present active here. (12/93-D&B)

----Intertrax currently has approximately 70 consignment clients including major petroleum companies, Cat dealers,mining operations and contractors. Monthly consignment report and check sent to consignees. (12/93-IntertraxPresentation).

----Inventory turn is less than twice annually. (12/93-WBHill, Intertrax)

----Intertrax does not provide any service work. (12/93-WBHill, Intertrax)

----Additional detail, including a Consignment Security Agreement, is available in P&SM's Competitive InformationLibrary. (12/93)

----When prompted, Intertrax stated Tap Equipment in the Los Angeles, CA area would be a competitor, but differed inthat they (Tap) were more of a "junk yard" and would sell to anyone. In addition they reportedly sell "will-fit" parts.(12/93-WBHill, Intertrax)


Purchase or sell on consignment, genuine Cat parts, consisting of non-current and discontinued parts obtained fromdealers and contractors. Reportedly if current parts are obtained, Intertrax would offer to sell them to the local Catdealer. (9/91-ACDeVooght, CES)

----Intertrax specializes in Cat parts because of their higher resell value and greatest market potential. (12/93-WBHill,Intertrax)


Repeat customers. (12/93-WBHill, Intertrax)----

Discounts on genuine Cat parts from 30% to 60% off of Cat list prices. (8/90 - Intertrax Letter to Cat dealer)


Parts availability is limited. (12/93)

FUTURE OUTLOOK:LAST D&B: December 13, 1993LAST PROFILE REVIEW/UPDATE: December 13, 1993DUNS (D&B NUMBER): 13-758-7101

SIC (CODES): 5084 Wholesales Industrial Machine Parts

IRONPEDDLERS PARTS DIVISION INC.September 14, 199841LD

INTERNET: http://www.ironpeddlers.com

COMPETITIVE TYPE: Distributor (New and Used)

MAJOR PRODUCT CLASSES: UndercarriageEngine PartsDrive TrainHydraulicsGET

LOCATIONS:

Headquarters - Monroe (Charlotte), North Carolina3504 Rocky River Rd. North

Rural section on well traveled road. Shares premises in one-story metal building in good condition.

Branches:

- Conley, GA (Atlanta area), 4060 Koppers Court- Garden City, GA (Savannah area), 5576 Export Boulevard- London, KY, 15 Ready Mix Road/Daniel Boone Parkway

Affiliates, the following are related through common ownership and/or financial interest:

- Ironpeddlers Inc., Monroe, NC, started 1974. Duns 07-452-1139. Operates as a wholesaler and leases usedconstruction equipment.According to April 20, 1994, D&B on this company, they no longer have active operations and are in the processof dissolving. Same address. Three employees as of 4/20/94 D&B. No reference to dissolving on 4/97 and 9/98D&Bs.

- Ironpeddlers Holding Inc., Monroe, NC, started 1985. Duns 14-420-8162. Operates as equipment sales andleasing. Same address.

- Decoy Trucking Inc., doing business as Koppers Leasing, Monroe, NC, started 1982. Duns 62-194-4164.Operates as sales of new and used construction equipment, grading contractor, and leasing and rental of heavyconstruction equipment. (9/98 - D&B)

EMPLOYMENT:

1988 - 60 (1/88 - Internal Memo)Apr 1994 - 52 (38 at headquarters) (4/94 - D&B)Jun 1996 - 52 (38 at headquarters) (4/97 - D&B)Aug 1997 - 52 (38 at headquarters) (9/98 - D&B)

SALES:1994 - $4,700,000 projected (4/94 - D&B)No sales information on 4/97 and 9/98 D&Bs.

HISTORY:

1979 - Ironpeddlers Parts Div. Inc. started by Jim Birchfield. (4/97 - D&B)

PRODUCTS:

Sells and leases used equipment, and sells used and new non-OEM parts. Also, will buy used equipment - for resale orparts machines. (9/98 - Internet)

----Ironpeddlers offers the following brands of replacement parts:

Brand Description===== ===========Italtractor (ITM) UndercarriageAE Clevite Engine partsGhinassi (CGR) Cylinder heads, pumps, and partsFederal Mogul BearingsFP Diesel, Phillips Gaskets and sealsBucyrus Blades Cutting edges"Bulldog" Packing & seal kitsWise Seat cushions? Filters

Ironpeddlers claims to be one of the oldest and largest Caterpillar used parts dealers in the United States and one of thelargest distributors of new non-OEM parts. They sell used parts for Caterpillar, Fiatallis, Deere, International,Komatsu, and others.

The Ironpeddlers Parts Div. also reportedly offers a complete line of rebuilt guaranteed and used dyno-tested enginesand transmissions. (4/97 - Hot Line's Parts Connection Magazine)


Reference Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) on the brands offered. (9/98)


Parts Pricing Dept. has no price list information more current than 1985. (9/14/98)


Territory is United States, Canada, Mexico, Central and South America. Sells to contractors and industry. (4/94, 4/97and 9/98 - D&Bs)

GENERAL:

100% of capital stock is owned by officers (4/97 and 9/98 - D&Bs):

- President = Jim Birchfield- Vice President = Arthur Cates- Secretary-Treasurer = Thomas Broome

----Ironpeddlers Parts Div. Inc. is a Regular member of Independent Distributors Association (IDA). (1995 MembershipRoster)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Financing secured (9/98 - D&B)LAST D&B: September 2, 1998LAST PROFILE REVIEW/UPDATE: September 14, 1998DUNS (D&B NUMBER): 36-128-0902

SIC (CODES): 5082 - Wholesale, New and Used Construction Equipment Parts. (9/98 - D&B)

JASPER ENGINE EXCHANGE INC.March 6, 199641AR

INTERNET: http://www.jasperengines.com

COMPETITIVE TYPE: Remanufacturer

MAJOR PRODUCT CLASSES: Engine PartsDrive Train

LOCATIONS:

Headquarters - Jasper, Indiana815 Wernsing Rd.

Rents 220,000 sq. ft. in one-story steel and block building in good condition, premises neat, suburban businesssection on well-traveled highway. (8/87 through 2/96 - D&Bs)

----Reportedly, Jasper had 200,000 sq. ft and added 167,000 sq. ft. approx. 1994. (9/94 - Automotive RebuilderMagazine)

----Branches (Warehouses):

- Willowbrook, IL- Chattanooga, TN- Knoxville, TN- Memphis, TN- Livonia, MI- Grand Rapids, MI (2/96 - D&B)

Subsidiaries:

The following are 100% owned by parent company and distribute parent company products:

- Jasper Engine & Transmission Exchange Inc. (KY) - Jasper, IN, started 1963. Net worth $292,693.- Jasper Engine & Transmission Exchange Inc. (MO) - Jasper, IN, started 1962. Net worth $482,773.- Jasper Engine & Transmission Exchange Inc. (OH) - Jasper, IN, started 1958. Net worth $219,050.- Jasper Engine & Transmission Exchange Inc. (WI) - Jasper, IN, started 1974. Net worth $213,648.- Jasper Engine & Transmission Exchange Inc. (IN) - Jasper, IN, started 1959. Net worth $174,641.- Jasper Engine & Transmission Exchange Inc. (TN) - Jasper, IN, started 1960. Net worth $24,317.

The following subsidiaries are also 100% owned by the parent company.

- Jasper Realty Inc., Jasper, IN, started 1965, operates real estate. Net worth $1,669,931.- Ruxer Realty Inc., Jasper, IN, started 1965, operates real estate.- Jasper Electric Motor, Jasper, IN, started 1979, repairs, wholesales, and retails electric motors. Net worth

$183,547. (2/96 - D&B)----

Not included on 1994 through 1996 D&B reports, Jasper claims the following independent profit centers withintheir facility:

- Indiana Tool & Die, machine shop, performs some retail work, but primarily supports any special machiningfor gas, transmission, and diesel departments.

- Jasper Performance Products- Jasper Marine- Jasper Cogeneration Products

Each profit center is a separate division with individual manufacturing managers and purchasing people. (9/94 -Automotive Rebuilder Magazine)

EMPLOYMENT:

1980 - 350D&B1985 - 525 (500 in Jasper)

Mar 1987 - 525 (400 in Jasper) D&B, 8/87Sep 1989 - 600 (425 in Jasper) D&B, 7/90Jul 1991 - 650 (475 in Jasper) D&B, 8/91Oct 1993 - 800 (600 in Jasper) D&B, 2/94

1994 - ? (800 in Jasper, IN)400 Gas Engine Dept.144 Diesel Engine Dept.102 Transmission Dept.15 Differential/Stern Drive Dept.23 Indiana Tool & Die Div.

(9/94 - Automotive Rebuilder)Jul 1995 - 1,000 (800 in Jasper) (2/96 - D&B)

SALES:

Fiscal year ends last Saturday in December. (8/95 - D&B)----

Net ProfitYear Sales (Loss) Worth

1980 $12,000,000 $ -- $ -- (D&B)1983 -- -- 10,707,230 (8/87 - D&B)1984 -- -- 13,398,467 (8/87 - D&B)1985 -- -- 15,147,565 (8/87 - D&B)1986 -- -- 16,557,860 (7/90 - D&B)1987 -- -- 4,868,830 (7/90 - D&B)1988 -- -- 8,454,263 (7/90 - D&B)1989 60,000,000 -- 11,135,656 (7/90 & 8/91 - D&B)

1990 50,567,636 2,731,443 13,827,099 (2/94 - D&B)1991 49,758,118 2,415,107 16,202,206 (2/94 - D&B)1992 62,793,977 3,231,158 19,393,364 (2/94 - D&B)1993 72,592,949 3,821,593 23,687,880 (8/95 - D&B)1994 88,076,435 4,644,671 27,107,120 (8/95 - D&B)

HISTORY:

1942 - Mr. Alvin Ruxer, founder and president, started Jasper as a Ford Motor Co. authorized rebuilder.1946 - Became an independent rebuilder after a falling out with Ford.1957 - Began remanufacturing light-duty transmissions in separate facility. Production included automatic

and standard transmissions.1959 - Indiana Tool & Die acquired to remanufacture torque converters.1965 - Gasoline Engine, Transmission and Indiana Tool & Die all joined under one roof in new 100,000 sq. ft.

facility.1967 - Jasper launches its Diesel Department, rebuilding only complete units from fan hub to flywheel.1968 - Addition of 20,000 sq. ft. for unloading and storage.1970 - Diesel department gets an expansion of 20,000 sq. ft.1973 - Addition of 18,000 sq. ft. for core storage--gasoline engines and light-duty transmissions.1975 - Diesel Department gains additional footage along with the beginning of a new department.1976 - Jasper's Differential Department is launched.1980 - Addition of 20,000 sq. ft. aimed at expansion for all departments. The completion marks continued

growth in modern remanufacturing to OEM standards and tolerances.1983 - Addition of 22,500 sq. ft. for sales training and development office space, transmission department, and

transmission testing. (Jasper Brochure)1987 - Acquired Jasper Electric Motors, formerly an independent remanufacturer of electric motors. (9/87 -

Equipment Management Magazine)1990 - Implementation of Technical Service Department for improved customer support. (9/92 - Jasper

Brochure)1991 - June, relocated from Hwy. #45 and #231 South to 815 Wernsing Rd., Jasper, Indiana. (8/95 - D&B)

PRODUCTS:

Active in the rebuilding of motor vehicle engines and transmissions, fuel injection systems and heavy dutydifferentials (95%); performs maintenance services (4%), and through subsidiaries operates real estate holdingcompanies (1%). (2/96 - D&B) (Same statement on 2/94 and 7/90 D&Bs)

----In 1993, the company produced a total of 53,000 rebuilt units:

- 37,000 Gas Engines (YTD 94, Up 15%)- 3,300 Diesel Engines- 10,000 Transmissions- 1,300 Differentials and Axles- 900 Stern Drives (9/94 - Automotive Rebuilder)

----Value of inventory as of December:

- 1990 = $2,601,406 (8/91 - D&B)

- 1992 = 6,059,962 (2/94 - D&B)- 1994 = 7,292,671 (2/96 - D&B)

----Remanufacturing Milestone - Jasper, a major remanufacturer of gasoline and diesel engines, transmissions,differentials, marine drives and other power train products, passed a milestone recently with the remanufacturingof its 20,000th diesel engine. Jasper's diesel remanufacturing program began in 1967 and currently includesremanufactured product of a variety of foreign and domestic manufacturers including Caterpillar, Cummins,Deere, International, Mack, Perkins, and Mercedes. (11/92 - Diesel Progress, Engines & Drives Magazine)

----New 3208 Crankshafts Available - Through a special purchase agreement, Jasper has acquired new Caterpillar3208 crankshafts at a reduced price. New crankshaft kits will be sold for $1,095 per kit. The kit includes a newCaterpillar 3208 crankshaft and new bearings. Jasper claims this price represents as much as a $355 savings overmarket prices for a crankshaft only. This offer is good only while the quantities under this special purchase last.(1/91 - Jasper News Newsletter)

----The following is a partial listing of Jasper's heavy duty products offered:

Diesel Engines Subassemblies- Domestic & Foreign - Blowers- Midrange-Truck - Turbochargers- Industrial - Fuel Pumps-Lt. & H.D.- Coach & Transit - Fan Drives- Marine - Air Compressor- Crankshaft Kits

Transmissions Differentials Axle Housings- Off-Highway - Trucks - Front Axle King Pin Ends- Coach & Transit - Off-Highway - Rear Axle Bearings Ends- Industrial - Coach & Transit - Trucks/Industrial

Jasper also offers the following products:

Electric MotorsLight Duty

- Gas Engines- Marine- Transmissions- Differentials

Co-Generation UnitsPerformance Engines/Transmissions (9/92 - Jasper Brochure)

----Following is a partial list of original equipment manufacturers that Jasper has the ability to service: (9/83)

Allis Chalmers FordCase GM

Caterpillar InternationalClark KomatsuCummins MackDeere PerkinsDetroit Allison

----Jasper is an authorized dealer for Cummins, Detroit Allison, American Bosch, and Roosa Master. (9/83)

----According to a former Jasper employee, they claim to be the largest remanufacturer of engines and majorcomponents for the truck and earthmoving industry in the U.S. (Old, effective date unknown)

----Cat engines advertised include 3306, 3406, 1100, 3208, D343, D8, D9, 3408, D348, 3412. They also offer shortblocks on 199 and 3208s. (Old, effective date unknown)

----Stocked engines include those in short block form, complete engines, and complete running engines. Cores are notaggressively purchased, unless market conditions require it from time to time.

"1,500 diesel engines were remanufactured in 1987 with Detroit Diesel engines leading in volume, and CAT 3208engines close behind."

Transmissions are generally not stocked, "except for a few Allison's." All brands and models of transmissions arerebuilt on a custom basis. These are all dyno-tested and carry a six-month, 20,000-mile warranty. "Average D9transmission sells for $11,500 to $13,500."

The company has also done "only a few" final drives, but not on a regular basis. No pricing is available, and, ofcourse, no exchange program is offered. (RLF, 1/88)

PRODUCT FEATURES:

Reportedly, Jasper will only remanufacture to OEM standards and would replace all engine valves, valve springs,and tappets with new. Jasper defines its engine remanufacturing process with the following steps:

- Disassembly- A pre-inspection cleaning in a Kolene salt bath- Initial inspection- Replacement of all bearings, pistons, valve springs, rings, and timing gears- Remachining of blocks, heads, connecting rods, crankshafts, and camshafts- A second inspection- Reassembly- Final inspection- Testing to meet or exceed OEM specifications(9/94 - Automotive Rebuilder Magazine)

QUALITY:

Jasper encourages its associates on a regular basis to participate in the Society of Automotive Service Excellence(ASE) certification program. Jasper pays for the first test an associate takes. As of December '93, Jasper had 47ASE-certified technicians and three master technicians. A group of 28 associates participated in the spring of

1994, and another group was preparing for testing in the fall, 1994. (9/94 - Automotive Rebuilder)----

Develops Its Own "ATEC" Test Stand - Jasper Engines & Transmissions has become one of the first facilities inthe U.S. to dynamometer test Allison Transmission Electronic Control Transmissions by developing its ownATEC test stand.

The stand and equipment were designed specifically for testing Allison 5,000, 6,000, 8,000 and 9,000-series units.Most of these units are used in heavy-duty, off-road applications. The stand features a shift tower, throttle speedsensor, output speed sensor, electronic control unit and a programmable read-only memory, all in one convenienteasy-to-use unit.

The transmission department also has a stand for testing on-highway applications such as V-drives, 600 and 700series units. (2/91 - Equipment Management Magazine).

----The "Remanufacturer Of The Year" award from the Production Engine Remanufacturers' Association (PERA) wasrecently presented to Jasper. The award is given each year "to the outstanding remanufacturer that has contributedunselfishly to the production of quality products, thus contributing to the entire automotive industry, andparticularly to the community, state and nation." Jasper also received this award in 1969.

The Production Engine Remanufacturers' Association is an organization with 250 member companies.Membership is international in scope, with remanufacturers from Canada, Australia, Mexico, Japan and Germanyincluded. (4/90 - Fleet Equipment Magazine)

----Jasper reportedly places extreme emphasis on quality. For example, OEM parts that are received by Jasper are 100percent inspected; rebuilt engines have new pistons, bearings, valves, springs, and wrist pins; machined parts areinspected prior to assembly; and engines and transmissions are dynamometer tested. (Effective date unknown)


Jasper utilizes the Performance Engine Remanufacturers Association's Core Identification Program, introducedSeptember 1994.

The PERA Core Identification Program is a computer-based software program that will display engine componentinformation, special notes, applications, and graphics. The IBM-compatible, PC-based software is fully adaptableto individual users.

Twice-yearly updates will be available as an add-on service. The program is intended to tell PERs what corecastings are used and what core castings are interchangeable. (9/94 - Automotive Rebuilder)

WARRANTY:

Jasper Diesel Engines have a 100,000-mile one-year warranty (whichever is less) for highway service and 3,600-hour one-year warranty for industrial applications. The buyer must pay all labor costs during the second half ofthe warranted period. Short blocks are six months or 50,000 miles for highway service and six months or 1,800hours for industrial with the same provisions as above. (Old, but effective date unknown)

PRICING:

Most current price list in Pricing (P&MR) Dept.'s CIS System is effective March 1, 1986. (8/95)----

Terms net 30 days. (2/96 - D&B)----

They are at a price disadvantage compared to Caterpillar and other OEM dealers for which they are not anauthorized dealer. They pay consumer prices for parts that are available only from OEM dealers. (Old, buteffective date unknown)


Jasper services 17,000 active dealer, jobber, wholesale and distributor customers. Jasper has 31 distributioncenters nationwide. (9/94 - Automotive Rebuilder)

----Sells to industrial-commercial concerns, trucking industry, and general public. Territory is central United States;has 5,000 accounts. (7/90 through 2/96 - D&Bs)

----Jasper sells through 23 company-owned and independent distributors throughout the midwest and portions of theeast. Distribution extends throughout the United States and several overseas countries. (9/92 - Jasper Brochure)

GENERAL:

Ranked as an 'AR' Engine and Drive Train competitor. (3/96)----

This is a family-owned business and has always been under family control.

- Doug Bawel, President = 15% ownership- E. Ray Bawel, Secretary = 15% ownership- Gervase Schwenk, CHB = 15% ownership- Nine others, none owning 10% or more of stock.

(2/96 - D&B)----

Jasper is a member of the Production Engine Remanufacturers Association (PERA), and the Society ofAutomotive Service Excellence (ASE). (9/94 - Automotive Rebuilder)

----Jasper claims to use new OEM parts in the remanufacturing process. Jasper buys some Caterpillar parts fromCaterpillar dealers.

Cores are inspected at branches at the time of exchange and credit is issued by the branch. Jasper's core criteria issimilar to Cat. Jasper has tractor-trailers used to deliver engines and pick up cores. Jasper also buys cores outrightfrom core producers. (Old, but effective date unknown)


Jasper believes their future business will be with the off-highway equipment. They haven't made a concentratedeffort to pursue the on-highway truck engine potential. (Old, but effective date unknown)

ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:

Financial condition strong. (2/96 - D&B)----

Jasper's expansion plans are not just limited to remanufactured products. The company plans to expand into the

accessory parts needed to perform the installation of a purchased engine. Parts would include spark plugs, belts,and hoses. (9/94 - Automotive Rebuilder)

LAST D&B: August 17, 1995LAST PROFILE REVIEW/UPDATE: February 7, 1996DUNS (D&B NUMBER): 00-639-8168

SIC (CODES): 37 14 - Manufacturing, Motor Vehicle Parts & Accessories75 38 - Business Services, General Automotive Repair Shops65 12 - Real Estate Services, Operators of Non-Residential Buildings

JASPER ENGINES & TRANSMISSIONS – NEWSOctober 15, 199941ARNEWS

http://www.jasperengines.com

MOVES DETROIT, MI OFFICE AND WAREHOUSE 10/15/99

Jasper has reportedly outgrown their old Detroit, MI facility and have moved their office and warehouse to 6734 BrandtRoad, Romulus, Michigan.

The newly constructed, 10,000 sq. ft. state-of-the-art facility is designed to serve customers better with expandedinventories and a more convenient location.

The new location opened October 11, 1999. (10/99 - Jasper, Internet)

MAHLE NAMED JASPER PREFERRED PARTNER 6/30/99

The Aftermarket Department of Mahle, Inc. has received the Jasper Engines Preferred Partner Award. The award isbased on achievements in quality, service, technical assistance, billing, shipping, and packaging. (5/14/99 - Mahle NewsRelease)

FEDERAL-MOGUL NAMED JASPER PREFERRED PARTNER 4/99

On April 30, 1999, Federal-Mogul Corporation's Malden, Missouri, facility was named a Preferred Partner by JasperEngines & Transmissions, one of the nation's leading remanufacturers of drivetrain components, and one of Federal-Mogul's largest customers.

The Preferred Partner Award is presented annually to recognize Jasper's "Partners in Success." Recipients are judgedon quality, service, fill-rate, response time and billing/credit procedures, among other criteria.equipment and aftermarket aluminum pistons for small engines, automotive, high-performance and light-duty dieselapplications. Its 400 employees handle the complete manufacturing process from molten aluminum castings to CNCmachining, including tin plate and piston skirt coatings.

Federal-Mogul's web site URL is http://www.federal-mogul.com (4/30/99 – PRNewswire)

SIGNS LETTER OF INTENT TO BUILD CORE PROCESSING CENTER 1/97

Jasper Engines and Transmissions has signed a letter of intent to build Phase 1 and Phase 2 of a 10.5 million dollarremanufacturing facility in Crawford County, Indiana. The project is contingent upon the Federal, State and CountyGovernments providing property, infrastructure and training along with proper permitting by the state and satisfactorysite boring. Jasper will begin construction of the 200,000 sq. ft. facility in early 1997. The facility will be built near theCarefree, IN, exchange off I-64.

1965 - Established since 1965, Kian Ann is a major supplier and distributor of heavy equipment parts for use ininfrastructure development, road construction, land reclamation, mining, marine repairs, propertydevelopment, logging and power generation, among others. (11/96 - Kian Ann, Internet)

1996 - October, converted into a public limited company, changing name from Kian Ann Engineering Company(Pte) Ltd to Kian Ann Engineering Ltd.

1997 - September, formed a 75% owned joint venture, Juta Tractors Enterprise Sdn Bhd (JTE) to capitalise onopportunities in Malaysia.

PRODUCTS:

The principal activity of Kian Ann Engineering Ltd. is in the trading of tractor spares. The subsidiary companies areprimarily engaged in property and investment holding, dealing in computer equipment, software and the consultancywork, the trading and manufacture of machineries spares. (1997 annual report)

----Heavy equipment, machinery, and diesel engine parts distributor Kian Ann distributes 500,000 products covering 150brands and intends to increase its product range with its October 28, 1996, Initial Public Offering (IPO) proceeds.

----Based on eight quarters of CPR information as of 10/14/96, Kian Ann is known to offer the following brands of parts:

Brand Major Class===== ===========Italtractor (ITM) U/CNSK U/CFortress ESP Italiana DT(Purchased by Union Spares Srl, 10/94. Original name no longer used)Perfect Circle EngToyo EngBando EngRoto Master OtherCaterpillar Gen, Eng, Hyd

----Some of the tractor and diesel engine parts stocked by Kian Ann include:

Brand Product===== =======Bendix Air Compressor PartsBerco U/C PartsCummins Diesel Engine PartsDonaldson Filters & ElementsFP Diesel Pistons & LinersFleetguard Filters & ElementsHigh Gaskets Gaskets & SealsITM (Italtractor) U/C PartsItalricambi Adapters & Cutting EdgesKomatsu Tractor & Diesel Engine Parts

KIAN ANN ENGINEERING CO. (PTE) LTD.June 15, 199836EI

Unless noted, the information in this document comes from an October 28, 1996, Reuters news release.

INTERNET: http://www.kianann.com.sg/



LOCATIONS:

Headquarters - Singapore12, Jalan Lembah Kallang

All reference in this document to the Company means Kian Ann Engineering Ltd. only. Reference to the Groupincludes subsidiaries.

EMPLOYMENT:SALES:

Fiscal year ends June 30.----

1996 1997(,000) (,000)

Co. Turnover S$63,136 S$72,816Operating Profit 9,009 10,300Retained Profit 3,845 6,615 (1997 Annual Report)

----More than 90% of sales are transacted in Singapore currency. (1997 Annual Report)

----For the financial year ended June 30, 1996, 63% of Kian Ann's turnover of S$63.14 million was generated outsideSingapore. Overseas markets contributed 47% of its pre-tax profit of S$7.14 million during that period.

Most of Kian Ann's earnings come from sale of parts to the industrial sector where pre-tax profit margins are about11.6%, compared to gross margins of 4.7% for the sale of parts to the marine sector, the company's prospectus said.

HISTORY:

1965 - Established since 1965, Kian Ann is a major supplier and distributor of heavy equipment parts for use ininfrastructure development, road construction, land reclamation, mining, marine repairs, propertydevelopment, logging and power generation, among others. (11/96 - Kian Ann, Internet)

1996 - October, converted into a public limited company, changing name from Kian Ann Engineering Company(Pte) Ltd to Kian Ann Engineering Ltd.

1997 - September, formed a 75% owned joint venture, Juta Tractors Enterprise Sdn Bhd (JTE) to capitalise onopportunities in Malaysia.

PRODUCTS:

The principal activity of Kian Ann Engineering Ltd. is in the trading of tractor spares. The subsidiary companies areprimarily engaged in property and investment holding, dealing in computer equipment, software and the consultancywork, the trading and manufacture of machineries spares. (1997 annual report)

----Heavy equipment, machinery, and diesel engine parts distributor Kian Ann distributes 500,000 products covering 150brands and intends to increase its product range with its October 28, 1996, Initial Public Offering (IPO) proceeds.

----Based on eight quarters of CPR information as of 10/14/96, Kian Ann is known to offer the following brands of parts:

Brand Major Class===== ===========Italtractor (ITM) U/CNSK U/CFortress ESP Italiana DT(Purchased by Union Spares Srl, 10/94. Original name no longer used)Perfect Circle EngToyo EngBando EngRoto Master OtherCaterpillar Gen, Eng, Hyd

----Some of the tractor and diesel engine parts stocked by Kian Ann include:

Brand Product===== =======Bendix Air Compressor PartsBerco U/C PartsCummins Diesel Engine PartsDonaldson Filters & ElementsFP Diesel Pistons & LinersFleetguard Filters & ElementsHigh Gaskets Gaskets & SealsITM (Italtractor) U/C PartsItalricambi Adapters & Cutting EdgesKomatsu Tractor & Diesel Engine Parts

Phillips Gasket (Now part of FP Diesel) Gaskets & SealsSchwitzer TurbochargersTimken AF BearingsTBM U/C PartsVickers Hydraulic CartridgesITR* Tractor Spare PartsWorld Gasket** Gaskets & Seals

* Believe ITR refers to a company that has changed names a few times (Italparts, Comet ITR, Mecot SpA) and soldout to Union Spares Company Srl in 1994. Original names no longer used. (11/96 - RBRodgers, P&MR)** World Gasket is actually a trade name for Elligi Srl. (11/96 - RBRodgers, P&MR)

(11/96 - Kian Ann, Internet)

PRODUCT FEATURES:QUALITY:MARKETING:PRODUCT SUPPORT:WARRANTY:PRICING:

All information submitted into the Competitive Parts Reports (CPR) system during the latest eight quarters wasreported by CAPL dealers; P.T.T.U., and Tractors Malaysia. (10/14/96)


Kian Ann claims to be the largest independent distributor in Southeast Asia.

Services customers throughout Southeast Asia, Pakistan, Sri Lanka, the Middle East, South Africa, Papua NewGuinea, the Solomon Islands and beyond, with 90% of its business from repeat customers.

"To improve its services to overseas customers, Kian Ann will be expanding beyond Singapore and has to capitaliseon the opportunities in the Malaysian market by forming a 75% owned joint venture, Juta Tractors Enterprise SdnBhd, which commenced business in September 1997. It will enable Kian Ann to broaden its coverage of the directend-user market in Malaysia.

In Singapore, the company has increased its warehousing facilities to 7,669 sq m (from 6,535) currently and will soonmore than double that with the building of a new office cum warehouse complex by end 1998 and will consolidateKian Ann's warehousing, distribution and office operations under one roof." (1997 Annual Report)

GENERAL:

Kian Ann's main competitor is reportedly Malaysian-listed Triumphal Associates Berhad.----

Kian Ann was originally added to Caterpillar Export Services (CES) Reseller list 3/90. This was requested byTractors Malaysia. Tractors Singapore also reported activity sometime later that would support having added this

competitor to the Reseller list. (11/96 - S.M. Watkins, CES)


Wants to be a one-stop center for heavy equipment parts.

Corporate philosophy is to "maintain a high standard of professionalism towards its shareholders and ensuring goodreturns on a sound investment; of developing and continuing long term relationships with its customers based onservice excellence; and of providing its employees with a promising and secure future in the company." (1997 AnnualReport)


"One of Kian Ann's key strengths is its sophisticated on-line, real time inventory management system that has beendeveloped in-house over the past ten years. This system is able to track 600,000 item lines, automatically update stocklevels, and generate orders, invoices and replacements. It also identifies interchangeable parts, providing a list ofalternatives when a particular stock is not available or a cheaper compatible is required. The inventory managementsystem also tracks the purchases of key customers, continually reviewed and upgraded to enhance its capacity andcapability." (1997 Annual Report)


Kian Ann remains confident of the Group's prospects in spite of the recent currency instability in the region. Morethan 90% of sales are transacted in Singapore currency. The Group has also been able to remain competitive asregional currencies have depreciated more steeply against the dollar than against the Singapore dollar. In view ofcertain import duties and other restrictions imposed by neighboring countries, Kian Ann anticipates ahigher demand for their products as repairs and reconditioning of old machinery are expected to increase.

The Group also expects cost-cutting measures by regional companies as a result of recent economic developments, tocause a likely shift in demand from higher priced original equipment parts to other branded non-original parts.

The Group "will also explore new markets for growth".

The Group expects performance for FY98 to be satisfactory. (1997 Annual Report)----

As of October 1996, Kian Ann is relying on Southeast Asia's infrastructure spending to fuel its growth in the next fewyears. Kian Ann claims the Asian economy, which is their main market, is expected to grow 7.7% per annum for thenext five years. The infrastructure expenditure for the next 10 years will go to almost US$500 billion.

This spending will translate into strong demand for excavators, bulldozers, and other equipment used in buildinginfrastructure and, in turn, demand for Kian Ann's products.

Kian Ann, which announced October 28, 1996, it was offering 30 million shares at Singapore S$0.60 each in itsSingapore Initial Public Offering (IPO), said its business was closely linked to infrastructure development in Asia.

The company distributes parts of heavy machinery like bulldozers, excavators, trucks, power generation sets, andmarine engines. It hopes its IPO will raise net proceeds of about S$16.5 million.

LAST D&B: NoneLAST PROFILE REVIEW/UPDATE: June 15, 1998DUNS (D&B NUMBER):

SIC (CODES):

Phillips Gasket (Now part of FP Diesel) Gaskets & SealsSchwitzer TurbochargersTimken AF BearingsTBM U/C PartsVickers Hydraulic CartridgesITR* Tractor Spare PartsWorld Gasket** Gaskets & Seals

* Believe ITR refers to a company that has changed names a few times (Italparts, Comet ITR, Mecot SpA) and soldout to Union Spares Company Srl in 1994. Original names no longer used. (11/96 - RBRodgers, P&MR)** World Gasket is actually a trade name for Elligi Srl. (11/96 - RBRodgers, P&MR)

(11/96 - Kian Ann, Internet)


All information submitted into the Competitive Parts Reports (CPR) system during the latest eight quarters wasreported by CAPL dealers; P.T.T.U., and Tractors Malaysia. (10/14/96)


Kian Ann claims to be the largest independent distributor in Southeast Asia.

Services customers throughout Southeast Asia, Pakistan, Sri Lanka, the Middle East, South Africa, Papua NewGuinea, the Solomon Islands and beyond, with 90% of its business from repeat customers.

"To improve its services to overseas customers, Kian Ann will be expanding beyond Singapore and has to capitaliseon the opportunities in the Malaysian market by forming a 75% owned joint venture, Juta Tractors Enterprise SdnBhd, which commenced business in September 1997. It will enable Kian Ann to broaden its coverage of the directend-user market in Malaysia.

In Singapore, the company has increased its warehousing facilities to 7,669 sq m (from 6,535) currently and will soonmore than double that with the building of a new office cum warehouse complex by end 1998 and will consolidateKian Ann's warehousing, distribution and office operations under one roof." (1997 Annual Report)

GENERAL:

Kian Ann's main competitor is reportedly Malaysian-listed Triumphal Associates Berhad.----

Kian Ann was originally added to Caterpillar Export Services (CES) Reseller list 3/90. This was requested byTractors Malaysia. Tractors Singapore also reported activity sometime later that would support having added this

competitor to the Reseller list. (11/96 - S.M. Watkins, CES)


Wants to be a one-stop center for heavy equipment parts.

Corporate philosophy is to "maintain a high standard of professionalism towards its shareholders and ensuring goodreturns on a sound investment; of developing and continuing long term relationships with its customers based onservice excellence; and of providing its employees with a promising and secure future in the company." (1997 AnnualReport)


"One of Kian Ann's key strengths is its sophisticated on-line, real time inventory management system that has beendeveloped in-house over the past ten years. This system is able to track 600,000 item lines, automatically update stocklevels, and generate orders, invoices and replacements. It also identifies interchangeable parts, providing a list ofalternatives when a particular stock is not available or a cheaper compatible is required. The inventory managementsystem also tracks the purchases of key customers, continually reviewed and upgraded to enhance its capacity andcapability." (1997 Annual Report)


Kian Ann remains confident of the Group's prospects in spite of the recent currency instability in the region. Morethan 90% of sales are transacted in Singapore currency. The Group has also been able to remain competitive asregional currencies have depreciated more steeply against the dollar than against the Singapore dollar. In view ofcertain import duties and other restrictions imposed by neighboring countries, Kian Ann anticipates ahigher demand for their products as repairs and reconditioning of old machinery are expected to increase.

The Group also expects cost-cutting measures by regional companies as a result of recent economic developments, tocause a likely shift in demand from higher priced original equipment parts to other branded non-original parts.

The Group "will also explore new markets for growth".

The Group expects performance for FY98 to be satisfactory. (1997 Annual Report)----

As of October 1996, Kian Ann is relying on Southeast Asia's infrastructure spending to fuel its growth in the next fewyears. Kian Ann claims the Asian economy, which is their main market, is expected to grow 7.7% per annum for thenext five years. The infrastructure expenditure for the next 10 years will go to almost US$500 billion.

This spending will translate into strong demand for excavators, bulldozers, and other equipment used in buildinginfrastructure and, in turn, demand for Kian Ann's products.

Kian Ann, which announced October 28, 1996, it was offering 30 million shares at Singapore S$0.60 each in itsSingapore Initial Public Offering (IPO), said its business was closely linked to infrastructure development in Asia.

The company distributes parts of heavy machinery like bulldozers, excavators, trucks, power generation sets, andmarine engines. It hopes its IPO will raise net proceeds of about S$16.5 million.

LAST D&B: NoneLAST PROFILE REVIEW/UPDATE: June 15, 1998DUNS (D&B NUMBER):

SIC (CODES):

MERITOR AUTOMOTIVE INC. - NEWSJuly 15, 200064BVNEWS

http://www.meritorauto.com/

ARVIN INDUSTRIES AND MERITOR AUTOMOTIVE MERGER COMPLETE, FORMING ARVINMERITOR,INC. 7/15/00

The merger of Arvin Industries Inc. and Meritor Automotive Inc. was completed July 7, 2000, forming ArvinMeritor,Inc., a $7.5-billion global automotive supplier.

Arvin Industries, Inc., is a global manufacturer of automotive components with over 60 manufacturing facilities and 6technical centers located in 22 countries. Arvin is a leading manufacturer of automotive exhaust systems; ride controlproducts; air, oil and fuel filters; and gas charged lift supports. Replacement products are sold under varioustrademarks including Arvin, Maremont, Timax, ANSA and ROSI exhaust systems; Gabriel shock absorbers; Purolatorfilters; and StrongArm gas charged lift supports.

Meritor, with 1999 sales of $4.5 billion, is a global supplier of a broad range of systems and components forcommercial, specialty and light vehicle OEMs and the aftermarket. Meritor consists of two businesses: Heavy VehicleSystems, a leading supplier of complete drivetrain systems and components for medium- and heavy-duty trucks,trailers and off-highway equipment and specialty vehicles, including military, bus coach, and fire and rescue; andLight Vehicle systems, a major supplier of roof, door, access control and suspension systems, and wheel products forpassenger cars, light trucks and sport utility vehicles. (7/6/00 & 7/10/00 – PRNewswire)

ARVIN AND MERITOR TO MERGE CREATING A $7.5 BILLION LEADING GLOBAL AUTOMOTIVESUPPLIER 4/15/00

On April 6, 2000, Arvin Industries, Inc. and Meritor Automotive, Inc. announced that the two companies have enteredinto a definitive agreement to combine their businesses in a strategic merger of equals. The transaction will create apremier global supplier of a broad range of integrated systems, modules and components for light vehicle, commercialtruck, trailer and specialty original equipment manufacturers (OEMs) and related aftermarkets.

The new company, to be called ArvinMeritor, Inc., will have combined revenues of $7.5 billion. It will have itscorporate headquarters in Troy, Michigan. All its operating units will remain at their current locations.

The combined product portfolio and technological expertise of the two companies will support their goal of becominga global provider of integrated solutions for light and heavy vehicle undercarriage, drivetrain, exhaust and aperturemodules, and systems. The combination will also expand their light and heavy vehicle systems product range andstrengthen their presence in the worldwide motor vehicle aftermarket.

Arvin Industries, Inc., with 1999 sales of $3.1 billion, is a global manufacturer of automotive components with morethan 60 manufacturing facilities and six technical centers located in 22 countries. Arvin is a leading manufacturer ofautomotive exhaust systems; ride control products; air, oil and fuel filters; and gas-charged lift supports. (4/6/00 -Business Wire)

LUCASVARITY COMPLETES SELL OF ITS HEAVY VEHICLE BRAKING BUSINESS TO MERITOR 2/99

On February 1, 1999, LucasVarity plc announced that it had completed the sale of its Heavy Vehicle Braking Systems(HVBS) division to Meritor Automotive Inc of the United States for 235 million Pounds Sterling ($390 million) in

cash. In LucasVarity's fiscal year 1997, HVBS had total sales of approximately 175 million pounds ($290 million) andnet assets of approximately 65 million pounds ($110 million).

LucasVarity announced its intention to sell its HVBS business in August, 1998. Headquartered in Dayton, Ohio, itemploys around 1,800 people and has seven production and technical facilities throughout the United States andEurope. (2/1/99 - PRNewswire)

COMPLETES ACQUISITIONS OF EUCLID INDUSTRIES AND VOLVO'S HEAVY TRUCK AXLEMANUFACTURING OPERATIONS 1/99

On January 4, 1999, Meritor Automotive, Inc. announced that it had completed the acquisition of Euclid Industries, aleading supplier and manufacturer of aftermarket replacement parts for a wide range of medium- and heavy-dutyvehicles. Meritor also announced that it has completed the acquisition of the heavy truck axle manufacturingoperations of Volvo Truck Corporation in Lindesberg, Sweden.

As previously stated on December 7, 1998, when Meritor announced its entry into definitive agreements, theseacquisitions advance the Company's growth initiatives and further strengthen its position in the global automotiveoriginal equipment and aftermarket segments.

Meritor, with 1998 sales of more than $3.8 billion, is a global supplier of a broad range of components and systems forcommercial, specialty and light vehicle OEMs and the aftermarket. Meritor consists of two businesses: Heavy VehicleSystems, a leading supplier of drivetrain systems and components for medium- and heavy-duty trucks, trailers and off-highway equipment and specialty vehicles including military, bus and coach, and fire and rescue; and Light VehicleSystems, a major supplier of roof, door, access control, suspension and seat adjusting systems and wheels forpassenger cars, light trucks and sport utility vehicles. (1/4/98 - PRNewswire) Additional information on Euclid isavailable via the internet: http://www.euclidind.com)

LUCASVARITY SELLS ITS HEAVY VEHICLE BRAKING BUSINESS TO MERITOR 11/98

On Nov. 23, 1998, LucasVarity plc announced that it had signed a definitive agreement to sell its Heavy VehicleBraking Systems (HVBS) Division to Meritor Automotive Inc. for 235 million pounds sterling ($390 million) in cash.The transaction, which is subject to normal regulatory approvals, is expected to close by the end of the year.

In LucasVarity's fiscal year 1997, HVBS had total sales of approximately 175 million pounds ($290 million) and netassets of approximately 65 million pounds ($110 million). Headquartered in Dayton, Ohio, it employs around 1,800people and has seven production and technical facilities throughout the United States and Europe.

The acquisition reflects Meritor's efforts to expand their presence in Europe, an area where they are focusingsubstantial energy and resources, and to provide Heavy Vehicle Systems original equipment and WorldwideAftermarket customers with a comprehensive offering of drivetrain systems and components. More specifically, theacquisition will assist Meritor in supporting commercial vehicle OEMs in Europe with their move toward disc braketechnology as they deintegrate and outsource.

The acquisition supports Meritor's strategy to grow their Worldwide Aftermarket business. HVBS provides additionalproducts for our aftermarket customers and expands the business's geographical market reach. The acquisition isexpected to add a total of 240 million pounds ($400 million) to Meritor's sales in 1999.

LucasVarity's Heavy Vehicle Braking Systems components include air disc brakes, hubs, drums and hydraulic brakes,and naturally complement Meritor's broad brake system offering of foundation brakes, automatic slack adjusters,wedge brakes, air disc brakes, anti-lock braking systems, air dryers and valves. HVBS will become part of Meritor's

Heavy Vehicle Systems and Worldwide Aftermarket businesses.

Meritor, with 1998 sales of more than $3.8 billion, is a global supplier of a broad range of components and systems forcommercial, speciality and light vehicle OEMs and the aftermarket. Meritor consists of two businesses: Heavy VehicleSystems and Light Vehicle Systems. (11/23/98 - PRNewswire)

TO OPEN NEW ASSEMBLY FACILITY TO BETTER SERVE ITS HEAVY VEHICLE OEM CUSTOMERS 8/98

On August 12, 1998, Meritor Automotive, Inc. announced that it will open a new assembly facility in Manning, SouthCarolina to better serve its Southeastern United States heavy vehicle OEM customers.

The new location will be operated solely for the assembly of various heavy-duty truck drivetrain componentsincluding cam brake systems, automatic slack adjusters, driveline systems, and miscellaneous hydraulic and air discbrake systems for off-highway applications.

Production is planned to begin at the 80,000 sq.-ft. facility in December 1998. Once the plant is fully operational inDecember 1999, it will employ approximately 200 people.

Meritor, had 1997 sales of more than $3.3 billion. Meritor consists of two businesses: Heavy Vehicle Systems, aleading supplier of drivetrain systems and components for medium- and heavy- duty trucks, trailers and off-highwayequipment and specialty vehicles, including military, bus and coach, and fire and rescue; and Light Vehicle Systems, amajor supplier of roof, door, access control and seat adjusting systems, electric motors and electronic controls,suspension systems and wheels for passenger cars, light trucks and sport utility vehicles. (8/12/98 - PRNewswire)

NEW ELECTRONIC PARTS CATALOG TO BE AVAILABLE ON INTERNET 4/98

Meritor Automotive's new electronic parts catalog system, takes all the information available in Meritor's partscatalogs and makes it quickly accessible to the customer via today's computer technology. In addition to partsinformation, the Xpressway system includes other helpful information in an easy-to-use format.

The new electronic parts catalog system is available immediately on CD-ROM and will also be available on Meritor'sInternet site www.meritorauto.com, later this summer. The company will update the CD-ROM when appropriate andsend the new versions to its dealer and distributor customers.

This allows the counter person to focus on the high quality and fast service that their customers will appreciate. Thisnew electronic parts catalog system will help customers receive the information they need fast, without the headacheof paper shuffling. Reportedly the new electronic system will also help free-up valuable time for counter personnel,estimating that time-consuming calls to Meritor for assistance can be reduced by 80 percent.

The Xpressway electronic parts catalog system contains information on Meritor's brake, driveline, front axle andMeritor WABCO products. By the end of 1998, information on the company's drive axle, transmission, clutch, off-highway and specialty products components will be integrated into the system. The new system will include evenmore information as the system evolves, such as inclusion of all Meritor bills of materials (BOMs) from plants outsideNorth America.

The first version of the Xpressway system will include all current Meritor BOMs. The capability to view assemblies'complete BOMs will save a considerable amount of time. For example, a component as small as a screw on acomplete axle assembly can be found quickly and easily.

Photographs and exploded views of components and assemblies will also help users find the exact parts they need

faster, while allowing inexperienced counter persons to identify the current Meritor or "All-Makes'' replacement parts.In fact, the CD-ROM provides information on more than 100,000 Meritor parts.

The Xpressway electronic parts catalog system allows flexible searches. The user can perform a search for parts basedon any one of the following categories:

- full or partial part number- casting/forging/stamping number- part attribute (length, width, height, lining mix, etc.)- application (make, model, year)

Graphical interface capabilities of the system allow for intuitive searches, such as exploded views. Also available arepictures of all cataloged parts and BOMs for all aftermarket kits and current Meritor production assemblies. To assistthe user even further, the system has the ability to conduct component "where used'' searches and build comparisontables on similar parts.

In addition to catalog information, the user can receive information on Meritor's training programs and instructions onhow to receive technical assistance from Meritor.

Customers can request Meritor's Xpressway CD-ROM by calling 888-725-9355 or sending an e-mail [email protected].

Meritor, with 1997 sales of $3.3 billion, is a global supplier of a broad range of components and systems forcommercial, specialty and light vehicles. Meritor consists of two businesses: Heavy Vehicle Systems, a leadingsupplier of drivetrain systems and components for medium- and heavy-duty trucks, trailers and off-highwayequipment and specialty vehicles including military, bus and coach, fire and rescue; and Light Vehicle Systems, amajor supplier of roof, door, access control and seat adjusting systems, electric motors, suspension systems and wheelsfor passenger cars, light trucks and sport utility vehicles. (4/15/98 - PRNewswire)

COMBINES HEAVY AND LIGHT VEHICLE SYSTEMS AFTERMARKET GROUPS 2/98

The aftermarket sales and service functions of Meritor's Heavy Vehicle Systems and Light Vehicle Systems will becombined to form the Aftermarket Services organization. This new business unit will bring together all aftermarketactivity worldwide to gain operating efficiencies and will report directly to Meritor Chairman and Chief ExecutiveOfficer, Larry D. Yost. With its historical Heavy Vehicle Systems focus, the aftermarket business will expand itsscope to serve the Light Vehicle Systems markets.

Meritor's aftermarket business, with 1997 sales of approximately $300 million, today supplies an extensive line ofdrive train and brake system parts for trucks, trailers, buses, and specialty and off-highway vehicles.

Other organizational alignments are taking place within Meritor to accelerate global growth and leverage operatingefficiencies and customer service practices across its businesses. (2/2/98 - PRNewswire)

ROCKWELL SPINS OFF AUTOMOTIVE BUSINESS 10/1/97, FORMING MERITOR AUTOMOTIVE INC. 10/97

Effective October 1, 1997, Rockwell International spun off its Rockwell Automotive Div., forming MeritorAutomotive Inc.

Meritor business consists of two global businesses; Light Vehicle Systems and Heavy Vehicle Systems (HVS). HVSis a supplier of drive train systems and components for medium - and heavy-duty trucks, trailers, off-highway

equipment, and specialty vehicles.

Headquartered in Troy, Michigan, Meritor employs more than 16,000 people at 58 manufacturing, research, and salesfacilities in 15 countries and had 1996 sales of approx. $3.1 billion (44% to International customers), serving morethan 800 OEMs. (10/1/97 - PR Newswire)

MIBA GLEITLAGER AG - NEWSDecember 31, 199532BJNEWS

http://www.miba.co.at

AGREES TO CHANGE REPLACEMENT PARTS PACKAGING LABELS 12/95

Miba package labels for 992-size wheel loader reaction plate and friction disc obtained as part of Caterpillar'sCompetitive Parts Test Program displayed the Miba part number, the corresponding Cat number, followed bythe word CAT. We considered this as a misuse of the Cat trademark and solicited the involvement ofCaterpillar's Patent Department. As a result, Miba has agreed to change and provided samples of new labelsreplacing the word CAT with "Replacement part for Caterpillar." 12/95 - RBRodgers, P&MR)

MIBA - GLEITLAGER AGFebruary 9, 199332BJ

INTERNET: http://www.miba.co.at/e/00/index.html


MAJOR PRODUCT CLASSES: Engine PartsDrive TrainGeneral Usage

LOCATIONS:

Miba Gleitlager Aktiengesellschaft has its headquarters at 3, Hauptstrabe, 4663, Laakirchen, Austria

Parent company is Miba Aktiengesellschaft of the same address.

Subsidiaries:

- Miba Arrabona Kft, Gyor, Hungary - 100%- Miba American Corp., Virginia Beach, VA/USA - 100%- Miba Far East PTE Ltd., Singapore - 100%- Miba Vertriebsgesellschaft m.b.H. - D-Immenstaad - 50%

Affiliated Companies:

- Miba Sintermetall AG. Vorchdorf, Austriao interest of this company: Miba ZVL Spol S.r.o., Dolny Kubin/CSFR - 69%

- Miba Frictec GmbH, Vorchdorf, Austriao interest of this company: Sintered Fraction (U.K.) Ltd., Bolsover/GB - 53 1/3%

- Miba Handelsgesellschaft m.b.H., Linz/Vienna, Austriao interest of this company: Motor-Center Mitterbauer Ges.m.b.H., Steyrermuhl

- Tyzack Transmission Components Ltd., Sheffield/GB- HydraMechanica Corp., Sterling Heights, MI (USA)- Terrecorp Inc., Clinton, IN/USA

(11/21/92 - D&B)

EMPLOYMENT:

1983 - 8401989 - 600 (DUNS Int. Market Identifiers, 4/90)

1990/91 - 648 (9/91 - D&B)

1991/92 - 600 (11/92 - D&B)425 workers158 clerks 61 apprentices

SALES:

Annual Av.Year as of Austrian ConversionJanuary 31 Shillings 000s USD Rate

1980 -- $11.7 Million --1981 -- 14.6 " --1983 -- 16.4 " --1988/89 As 428,000 -- --1989/90 523,000 39.5 " 13.2251990/91 576,152 50.7 " 11.3751991/92 612,776 52.5 " 11.67

HISTORY:

1927 - Registered as a public limited company in Laarkirchen, Austria under the name Motorenwrk FranzMitterbauer. (11/92 - D&B)

1967 - Original company separated into four businesses. (11/92 - D&B)1976 - Subject company founded. (11/92 - D&B)

- Name changed from Miba Gleitlager Vertriebs - Aktiengesellschaft to Miba Gleitlager Aktiengesellschaft.(11/92 - D&B)

1991 - It has recently been reported that Miba is now offering copper bonded engine bearings. Caterpillar usescopper bonded engine bearings and has used this as a major sales advantage over Miba's previous nickelbonded bearings. (10/91 - MRStevens, COSA)

1992 - Acquire Terrecorp Inc., Clinton, IN. Terrecorp specializes in compressor bearings which will be expandedwith production technology for Miba's engine bearings. (2/92 - Diesel Progress, Engine & DrivesMagazine)

PRODUCTS:

Buys 96-97% from domestic suppliers and 3-4% from Germany. (11/92 - D&B)

Manufacture of engine bearings and sintered friction materials. The undercarriage and general use parts offered arebearings. Miba manufactures replacement parts for a wide variety of automotive, industrial and earthmovingequipment. MIBA offers replacement parts for several brands of equipment and engines including:

Caterpillar CumminsJ.I. Case PerkinsJohn Deere VolvoWhite Mack

They also are suppliers to OEMs. Miba claims to be a supplier to most of the European diesel engine manufacturers.Miba exports over 90 percent of its product.


Specific information can be obtained from the following Competitive Test Reports and Parts Competitive Bulletins:


ENG88-15 3306, Rod And Main Bearings LEKQ9128ENG85-2 3306, Rod And Main Bearings LEKQ6293DT88-6 D8/D9/992, Clutch Plate NoneDT91-1 769C/773B/777A, Clutch Friction Disc NoneDT91-2 Brake Friction Material Caliper Carriers None

MARKETING:PRODUCT SUPPORT, WARRANTY:PRICING:DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

Territory = 11.3% domestic, 88.7% worldwide (11/92 - D&B)----

Territory = 8% Austria, 92% Europe, USA (9/91 - D&B)----

Direct sales to OEMs. Independent distributors and service shops. Miba is an associate member of the IndependentDistributors Association (IDA).

GENERAL:

Miba is considered by P&SM as an 'A' DT (friction discs) competitor. (2/93)


Aggressive marketing, widespread distribution. Has non-metallic friction discs (Hydramechanica). (11/92 -GKSpringborn, P&SM, DT)


Poor warranty, inconsistent quality. (11/92 - GKSpringborn, P&SM, DT)

LAST D&B: November 21, 1992, DUNS 30-020-7644Standard Industrial Code (SIC)/Descriptions

3339 Manufacturing, Primary Nonferrous Metals, NEC3341 Manufacturing, Secondary Nonferrous Metals, NSK3714 Manufacturing, Motor Vehicle Parts and Accessories

LAST COMPLETE PROFILE REVIEW/UPDATE: April 26, 1990

MIDLAND-GRAU HEAVY DUTY SYSTEMS - NEWSApril 30, 199841BYNEWS

Includes the former Midland-Ross Corp. Neither name is still used.

Haldex Group http://www.hse.haldex.comHaldex Brake Systems Division http://www.haldexbrakes.com

HALDEX BRAKE SYSTEMS NOW INCLUDES HALDEX MIDLAND SERVICES (POSTED 3/29/00)

Haldex’s new Brake Systems Division was formed after the acquisition of Midland-Grau in April 1998.

PARENT SELLS HEAVY-DUTY BRAKE BUSINESS TO THE HALDEX GROUP 4/98

On April 3, 1998, Echlin Inc. announced that it had completed the sale of its Midland-Grau heavy-duty brakeoperations to The Haldex Group of Sweden.

The transaction completes the divestiture of the under performing and non-core businesses Echlin had identifiedas part of their repositioning effort.

The Midland-Grau North American businesses will be realigned and integrated into two divisions within theglobal Haldex Group: Haldex Brake Systems and Haldex Midland Services.

The Haldex Brake Systems Division will include Haldex Brake Products Corporation (comprised of the formerMidland-Grau, Prattville Manufacturing Inc., and Haldex OEM businesses) to serve the global OEM customersfor the Haldex brake systems and friction components.

Haldex Midland Services will include Haldex Midland Corporation, Haldex Midland Limited (the formerMidland-Grau aftermarket businesses in the US and Canada) and United Brakes Systems. Haldex MidlandServices will serve the North American Aftermarket customers for the complete Haldex and Midland productranges.

Annual sales for Midland-Grau are approximately $330 million. Echlin will use proceeds from the sale toreduce outstanding debt.

The Haldex Group is a global producer of proprietary products for trucks, cars and industrial vehicles, withspecial emphasis on performance and safety items. The Group, listed on the Stockholm Exchange, has annualsales of $310 million and 1,900 employees. (4/3/98 - Business Wire and Haldex Letter)

SEPTEMBER 1996, MIDLAND-GRAU OPENED NEW WEST COAST DISTRIBUTION CENTER FORLIKE-NU REMANUFACTURED PRODUCTS 1/97

Effective September 1, 1996, Like-Nu remanufactured product purchases made by Midland-Grau distributorslocated in the nine western states (Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Washington,and Utah), will be handled through the new West Coast distribution center in Stockton, California. The openingof this new distribution center will allow for more timely shipments of Like-Nu product to West Coastcustomers, as well as reduce the amount of time that is now necessary to process core returns.

Order Entry Procedure Remains the Same - Midland-Grau Distributors located in the West Coast region willcontinue to place orders for Like-Nu remanufactured products in the same manner as they are currently beingplaced (800 phone number).

Core Return Destination - Midland-Grau distributors located in the West Coast region are now asked to shipcore returns to the new distribution center location in Stockton, California. (1/97 - Midland, Internet News)

ANOTHER FACILITY ISO 9001 CERTIFIED 6/96

Midland-Grau's Midland Brake Inc. facilities in Paris, Tennessee, recently received the ISO 9001 qualitycertification. (7/96 - OEM Off-Highway Magazine)

RECEIVES ISO9001 CERTIFICATION 1/96

Midland-Grau's Iola, Kansas manufacturing plant has recently received ISO9001 quality certification. (1/96 -OEM Off-highway Magazine)

MIDLAND-GRAU HEAVY DUTY SYSTEMS (FORMERLY MIDLAND BRAKE INC.)July 11, 199641BY

Also see document no. 41BYNEWS.

INTERNET: http://www.midland.com/

COMPETITIVE TYPE: ManufacturerRemanufacturer

MAJOR PRODUCT CLASSES: Drive Train (Brakes)Engine (Air Compressors)

LOCATIONS:

Headquarters - Kansas City, MO

Owns 42,000 sq. ft. in two story stone and glass building in good condition. Suburban business section on welltraveled street. (3/96 - D&B)

Branches

- Kansas City, MO = warehousing and distribution- Broken Arrow, OK = die casting- Paris, TN = air brake manufacturing- Iola, KS = air brake manufacturing- Marion, NC = remanufacturing- Cuba, MO = stamping plant (3/96 - D&B)

EMPLOYMENT:

1992 = 1,300 (189, headquarters) (3/93 - D&B)Feb 1996 = 1,400 (200, headquarters) (3/96 - D&B)

SALES:

Fiscal year ends August 31.----

Year Sales Worth

1989 -- $27,236,929 (3/93 - D&B)1990 -- 28,837,375 (3/93 - D&B)1991 -- 27,831,264 (3/93 - D&B)1992 $160,000,000 30,079,390 (3/93 & 3/96 - D&Bs)

- 2 -

projected1993 -- 33,975,8691994 -- 38,149,164

----Trend for revenues is up due to improvements in operations. (3/93 - D&B)

HISTORY:

1982 - August, Echlin acquired Midland Brake Div. of Midland - Ross Corp. for $4,500,000 and a subsidiary ofMidland-Ross for $12,500,000, forming Midland Brake Inc.

1990 - August, moved to Kansas City, MO from Owosso, MI1995 - Possibly 1996, not sure of effective date, but company name changed from Midland Brake Inc. to Midland-

Grau Heavy Duty Systems.1998 - Echlin Inc. completed the sale of Midland-Grau heavy-duty brake operations to The Haldex Group of

Sweden, 4/3/98.

PRODUCTS:

Manufactures heavy duty and medium duty truck air brake systems for both OEM and aftermarket (100%). (3/96 -D&B)

----To Exit Aftermarket Waterpump Business - Reportedly Midland-Grau Heavy Duty Systems (formerly Midland BrakeInc.) has stated they will stop competing in the aftermarket waterpump business for Caterpillar applications. It is notbelieved that this was a very big portion of their business. Midland is not a supplier to Caterpillar for waterpumps, butis for brake components and air compressors. (12/12/95 - MBHyde, M&DS, Engine Gp.)


1996 ISO Certified.

MARKETING:PRODUCT SUPPORT, WARRANTY:PRICING:DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

Has 2,000 accounts. Sells to automotive wholesalers and OEMs. Territory is United States and Canada (95%), export(5%). (3/93 and 3/96 - D&Bs)

GENERAL:

Ranked by as an 'A' Drive Train (Brake Components) Competitor/Supplier and an 'A' and 'AR' Engine (AirCompressor) Competitor/Supplier. (7/96)

----Trade names used by Midland are Grau Div. and Like-Nu Div.(3/96 - D&B)

- 3 -

----Echlin has 73 other subsidiaries. (3/96 - D&B)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:

Financial condition strong. (3/96 - D&B)

LAST D&B: March 11, 1996LAST PROFILE REVIEW/UPDATE: July 11, 1996DUNS (D&B NUMBER): 10-651-3385 Midland Brake Inc.

00-116-8046 Echlin Inc.SIC (CODES): 37 14

MOTION INDUSTRIES INC.April 24, 199521WD

Subsidiary (100%) of Genuine Parts Company (GPC), headquartered in Atlanta GA.

INTERNET: http://www.motion-industries.com/

GPC: http://www.genpt.com/

GPC News: http://biz.yahoo.com/n/g/gpc.html


MAJOR PRODUCT CLASSES: Drive TrainHydraulics

LOCATIONS:

Headquarters - Birmingham, Alabama

Branches - Motion has approx. 225 branches in 25 states.

Distribution centers are located at Birmingham, AL; Dallas, TX; Adison Heights, MI; and Tracy, CA.

In 1993, opened two new branches in Martinsville, VA and Show Low, AZ. (9/93 - Industrial Distribution Magazine)

Redistribution center is also located in Birmingham, AL.

Service centers for fluid power and special hose applications are located in California (1), Alabama (2), Arkansas (2),Mississippi (1), and Texas (3). (4/95 - D&B)

EMPLOYMENT:

Sept 1994 = 2,600 (290 at headquarters)

SALES:


1991 = $654,364,000 (4/95 - D&B)1992 = $712,880,537 (4/95 - D&B)1993 = $783,371,000 Approx., based on information below and Berry Bearing reported sales.

The parent company, Genuine Parts Company, reported that its Industrial Parts Group (which is comprised of Motion

Industries Inc. and another subsidiary, Berry Bearing Company), posted sales and operating profit of $1,153,371,000and $96,727,000, respectively, for the year ended Dec. 31, 1993. (4/95 - D&B)

As of December 31, 1993, company work was reported as $169,065,565. (4/95 - D&B).

HISTORY:

1924 - Business started.1976 - Apparently this is the year acquired by Genuine Parts Company.

PRODUCTS:

Wholesales industrial supplies, including bearings and power transmission equipment, which are used to maintain andkeep in operation plants, machinery and equipment. (4/95 - D&B)

PRODUCT FEATURES:QUALITY:MARKETING:PRODUCT SUPPORT, WARRANTY:

PRICING:

Terms - 1%, 10, 25, net 30. (4/95 - D&B)----

No list price information in Pricing (P&MR) Dept.'s CIS system as of 4/24/95.----


Has 75,000 accounts; sells to manufacturers. Territory is south, southwest, midwest, far west United States. (4/95 -D&B)

GENERAL:APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST PROFILE REVIEW/UPDATE: April 24, 1995LAST D&B: April 19, 1995DUNS (D&B NUMBER): 00-796-0446

SIC (CODES): 5085 Wholesales Industrial Supplies

NTN-BOWER CORPORATIONMay 6, 199631EY

INTERNET: http://www.ntn.co.jp/kaisha/kaigai/na/address6.html


MAJOR PRODUCT CLASSES: Anti-Friction Bearings for the following product classes:

Engine Drive Train Hydraulics

LOCATIONS:

Headquarters - Macomb, Illinois707 Bower Rd.

Owns 20,000 sq. ft. in one-story steel and concrete-block building, industrial section, on side street.

Branches:

- Hamilton, AL (mfgrs. roller bearings and parts)- Macomb, IL (mfgrs. roller bearings and parts), 711 N. Bower Rd.

Related Companies:

The following are related through the parent.

- NTN Corp., Osaka, Japan, started 1934. Manufactures bearings, machine tools, and parts.- NTN Bearing Corporation of America (Inc.), Mount Prospect, IL, chartered 1963. Wholesales bearings.

Intercompany relations consist of merchandise transactions from this business settled monthly, with goodsshipped direct by this business to the customers of this related concern, as well as this business warehousinggoods sold by it to this related concern settled monthly. This related company is a subsidiary of NTN USACorporation.

- American NTN Bearing Manufacturing Co. (Inc.), Schiller Park, IL, chartered 1971. Manufactures ballbearings. Intercompany relations consist of sale of component parts from this business settled monthly. Thisrelated company is a subsidiary of NTN USA Corporation.

- NTN Driveshaft Inc., Columbus, IN, chartered 1989. Manufactures constant velocity joints. No intercompanyrelations. This related company is a subsidiary of NTN USA Corporation.

- NTN Technical Center (USA) Inc., Ann Arbor, MI, chartered 1988. Engineering, research, and developmentservices. Intercompany relations consist of research, development, and technical support services from thisrelated concern on regular terms. This related company is a subsidiary of NTN Corp. (3/96 - D&B)

EMPLOYMENT:

1992 = 1,050 (28 at headquarters)(2/93 - D&B)

Mar 1996 = 31 Macomb, IL headquarters550 Macomb, IL manufacturing569 Hamilton, AL

1,150 Total (3/96 - D&B)

SALES:

Fiscal year ends March 31.----

ProfitYear Ending Sales (Loss) Worth

Mar 1991 = $100,528,000 $351,000 $49,185,000 (2/93 - D&B)Mar 1992 = 88,164,000 19,000 48,675,000 (2/93 - D&B)Mar 1993 = 86,530,154 (951,092) 46,512,119 (3/96 - D&B)Mar 1995 = 125,000,000 -- -- (3/96 - D&B)

1996 = Sales and profit for the nine-month period ending 12/31/95 were up, compared to sameperiod previous year. Increases attribtued to increase insales to an expanding customerbase and product line. (3/96 - D&B)

HISTORY:

1985 - December, business started by joint venture between NTN Corp. (60%) and Federal-Mogul Corp. (40%)1987 - Federal-Mogul sold its interest but continues to distribute roller bearings in the worldwide aftermarket.1990 - October, all of the capital stock of NTN-Bower Corp. was transferred by NTN Corp. to NTN USA Corp.

PRODUCTS:

Manufactures tapered and cylindrical roller bearings and parts. (3/96 - D&B)


NTN-Bower has two facilities that are certified suppliers to Caterpillar - Macomb, IL and Hamilton, AL. (5/96 -ALAffolter, Cat Quality)

----NTN Toyo Bearing Co. has five certified (by Cat) facilities - Iwata, Takarazuka, Kuwana, Kongo, and Okoyama,Japan. (3/93)

----Receives Quality Award from Ford New Holland 12/94 - NTN Corporation has received the Qualitas award fromFord New Holland Americas for quality performance in providing bearings from the NTN-Bower plant in Macomb,IL. As a Qualitas supplier, NTN will be given preferential status as a source of additional work. NTN is amanufacturer of antifriction bearings, constant velocity joints, and precision equipment. (12/94 - Diesel Progress,Engines & Drives Magazine)

MARKETING:

PRODUCT SUPPORT:WARRANTY:PRICING:DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

Sells to wholesalers and manufacturers. Territory is United States. (3/96 - D&B)

GENERAL:

Ranked as an 'A' DT (AF Bearings) Competitor/Supplier. (5/96)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: March 11, 1996LAST PROFILE REVIEW/UPDATE: May 6, 1996DUNS (D&B NUMBER): 14-735-1092

62-143-0610 NTN USA Corp.69-053-7105 NTN Corp.

SIC (CODES): 35 62 Manufacturing, Ball and Roller Bearings

OFFICINE FRATELLI MOSCA (OFM)September 30, 199832CC

INTERNET: http://www.ofm.it/


MAJOR PRODUCT CLASSES: Undercarriage HydraulicsEngine Parts GETDrive Train

LOCATIONS:

Officine F.lli Mosca snc - Via Canaletta 3/A - 40053 - Bazzano (BO) - Italy (6/00)----

Headquarters and Workshop (4,000 sq. meters) - Bazzano, Italy,Suburban business area. Condition of premises is normal. (3/94 - D&B)

EMPLOYMENT:

1978 - 251986 - 361987 - 341990 - 451991 - 40 (8/91 - D&B)1992 - 40 (11/92 - D&B) ? - 30 (3/94 - D&B)

SALES:

(Millions)

Sales Sales ExchangeYear Lira U.S. $ Rate

1978 - -- $1.2 --1985 - L9,000.0 (11/87 - D&B) 4.7 19151989 - L10,000.0 (8/91 - D&B) 7.3 13701991 - L5,500.0 (11/92 - D&B) 4.4 1240

HISTORY:

1969 - Officine Fratelli Mosca (OFM) was formed in Italy as a general partnership between Romano and FlorianoMosca.

1973 - Product line expanded to include parts purchased from suppliers.1978 - 1500-square meter warehouse built next to existing facility.1998 - OFM and 3R combine marketing efforts as OFM Top Line. The group, OFM Top Line, is the joining of

Officine Fratelli Mosca S.n.c. (OFM) and 3R Treerre S.r.l. See MARKETING section for detail.

PRODUCTS:

Introduces New Line of Engine Components 12/91 - A brochure obtained from the October 6, 1991 SAMOTERTrade Show held in Italy indicates Officine F.lli Mosca (OFM), predominantly known as a drive train competitor untilnow, is offering a “New Range of Replacement Parts for Earthmoving Machines.”

The brochure indicates OFM is offering the following:

- Cylinder Heads - Indicators- Gasket Kits - Seal Groups- Line Ass. - Valves (previously offered)- Guides - Turbos/Turbo Parts- Pumps - Electrical Parts Including Alternators & Gauges

OFM must be sourcing at least a portion of these components. (10/91 – OFM brochure, SAMOTER Trade Show)----

New Parts Emphasis on Gear Pumps 12/90 - OFM reportedly adds 100 to 150 new parts annually to their product linebased on projected demand reported by importers/resellers. Lately, the emphasis seems to be on gear-type pumps ofwhich 9 models have been introduced so far. Reportedly, every pump is tested individually, and up to now, about1000 units have been produced. Not all production steps are performed by OFM. As a rule, machining, assembly andtesting is done in-house, whereas castings and forgings are obtained from local sources. Likewise, heat treatment isdone by outside companies. All in all, OFM has ongoing relations with about 60 sub-contractors who are all locatedin the Modena, Padova, and Bologna triangle. (12/90 - C. Morandotti, CGT)

-----OFM manufactures and sells replacement parts for Caterpillar, Fiatallis, Komatsu and Case earthmoving machines.Major components include undercarriage and lift-arm pins and bushings, bearing assemblies, transmission parts,engine parts, final drive components, trunnions, springs, steering clutches and roller frame components.

Mosca not only manufacture parts but also carry parts procured from other local manufacturers. All in all they claimto offer 12 to 13,000 line items. Every year, 100-150 new parts are added to their product line based on projecteddemand reported by importers/resellers. Lately, the emphasis seems to be on gear-type pumps of which 9 models havebeen introduced so far. Reportedly, every pump is tested individually, and up to now about 1000 units have beenproduced. Not all production steps are effected by Mosca. As a rule, machining, assembly and testing is done in-house, whereas castings and forgings are obtained from local sources. Likewise, heat treatment is done by outsidecompanies. All in all, Mosca have ongoing relations with about 60 sub-contractors who are all located in the Modena,Padova, Bologna triangle. (12/90)

PRODUCT FEATURES:

QUALITY:

No current Competitive Test Reports (CTRs) or Parts Competitive Bulletins (PCB) available. (4/94)

MARKETING:

OFM and 3R combine marketing efforts as OFM Top Line (Reported 9/98):

The group, OFM Top Line, is the joining of Officine Fratelli Mosca S.n.c. (OFM) and 3R Treerre S.r.l.

Reportedly, forming the group combines the benefits of thirty years of experience in manufacturing of Officine F.lliMosca s.n.c. and ten years of commercial experience of 3R Treerre s.r.l. OFM is a manufacturer of spare parts,specializing in parts for Caterpillar. 3R is a distributor of spare parts for Komatsu applications, manufactured by OFM.OFM is headquarteded in Bazzano (BO) Italy and 3R is located in Spilamberto (MO) Italy. For additional detail onproducts offered see their combined internet site http://www.ofm.it (9/98 - Internet)


PRICING:

Increased Discounts Reported by COSA (Reported 10/94):

According to the copy of a Mosca invoice dated November '93, it appears that this competitor has increased discounts.Resellers now get 60% off US$ list prices on seals/gaskets and 57% on other parts such as shafts, pins/bushings.Moreover, some of the list prices are lower than those published in April '93. These price reductions in US$ haveprobably been triggered by the devaluation of the Italian Lire, and do not affect Mosca's revenue in Lire terms. (7/94 -VAZanzi, COSA Pricing)

----Transaction level price observations are available in the Competitive Parts Report (CPR) portion of PMIS. (4/94)

----The most current price list available in Parts Pricing Dept. is effective April 1, 1993. (4/94)

----COSA Parts Price Announcement/Adds 3,013 Line Items 3/94

COSA Parts Pricing calculated the following Mosca dollar list price changes between April '92 and April '93 pricelevels:

Major Class Change

Undercarriage +8.6% Engine Parts +1.1 GET +2.3 DT Parts -4.9 Hydraulic Parts +6.5 General Usage Parts +2.3 NEC Parts +6.0

All Parts Total +2.0%

The average percentages are weighted by COSA dealers' 1993 orders on Caterpillar.

Compared to the previous document, the latest Mosca price list contains an additional 3,013 line items bringing thetotal number of priced parts to 14,816. Major additions occurred in the following product groups:

Product Code Description Items 1 Undercarriage 111

2A Pistons, Rings, Liners 15 2C Cylinder Head and Valve Parts 20 2D Cooling Systems 30 2E Air Intake and Exhaust Syst. 16 2G Fuel Systems 39 2H Engine Gaskets 590 2K Turbochargers 197 2L Lubrication Systems 26 MBF Electric Starters 18 2P Alternators, Regulators 196 2Q Engine Bearings 23 2R Filters 8 016 Vee Belts 28 2 Engine Parts 709

3 GET 68

5A Final Drive Parts 78 5C Transmission & Transfer Gears 61 5E Axle & Differential Parts 30 5F Brake Parts 58 5H Transmission Gaskets 54 5M Antifriction Bearings 176 5Y Friction Material 62 5 DT Parts 559

6A Pumps, Motors 60 6B Hydr. Cylinders & Comp. 22 6K Tubes & Pipes 19 6S Seals 298 6 Hydraulic Parts 424

8B Sleeve Bearings 83 8E Electrical Components 46 8H Hardware 150 8J Gaskets and Shims 50 8M Lift Arms, Sticks, Booms 60 8P Pins 40

MAP Misc. Small Plastic Parts 13 8 General Usage Parts 488

9 NEC Parts 92

Total All Parts 3,013(3/94 - VAZanzi, COSA Business Support)

----COSA Parts Price Announcement in the Industry (PPAI) 11/92 - COSA Parts Pricing calculated the following Moscadollar list price increases between May 1991 and April 1992 price levels:

Major % Class Change

Undercarriage -0.1% Engine Parts 2.1% GET 0.4% DT Parts 1.9% Hydraulic Parts -3.5% General Usage Parts 0.1% N E C Parts -0.3% All Parts 0.6%

Above average percentages are weighted by COSA dealers' 1991 orders on Caterpillar.

Compared to the previous document, the latest Mosca price list contains an additional 1,581 line items, bringing thetotal number of priced parts to 12,773. Major additions occurred in the following product groups:

Product Code Description Items

1 Undercarriage 39

2A Pistons, Rings, Liners 44 2C Cylinder Head & Valve Parts 11 2D Cooling Systems 18 2E Air Intake & Exhaust Systems 26 2G Fuel Systems 61 2H Engine Gaskets 338 2K Turbochargers 33 MBF Electric Starters 13 2P Alternators, Regulators 39 2Q Engine Bearings 13 2R Filters 34 016 Vee Belts 53 2 Engine Parts 709

SEQ Duo-Cone Seals 15 5F Brake Parts 29 5 DT Parts 100

6A Pumps, Motors 43 6F Seals 230 6 Hydraulic Parts 320

8B Sleeve Bearings 17 8E Electrical Components 57 8H Hardware 85 8J Gaskets & Shims 71 8M Lift Arms, Sticks, Booms 15 8P Pins 11 8T Retainers, Lock Rings 23 8Z Miscellaneous 76 8 General Usage Parts 382

9 NEC Parts 26

Total All Parts 1,581

(11/13/92 - VAZanzi, COSA, Parts Pricing)----

Discount to resellers has not changed and amounts to 40-50% off list. (12/90)


Territory - 30% NationalExports - 70% of sales (11/92 and 3/94 - D&Bs)

-----OFM sells directly and via agents. (3/94 - D&B)

----As of 4/94, following is the number of Cat dealers by subsidiary that have submitted Competitive Parts Reports (CPR)for the latest 8 qtrs.

COSA - 4CFEL - 4

----Export continues to represent the major part of OFM’s business (85-90%). Business is regularly being done withimporters in Scandinavia, USA, Canada, Egypt, Thailand, Malaysia, Singapore, Venezuela, Brazil and Australia.Sales to Cat dealers do not exceed 2-3%. (12/90)

----OFM is an associate member of Independent Distributors Association (IDA) and distributes product through IDAmembers as well as direct sales to large customers. (1990 Membership Roster)

GENERAL:

OFM is considered an 'A' DT (Gear) competitor. (Impacts on our Corporate Marketing Strategies). (4/94)----

This competitor is often referred to as OFM or Mosca.


Mosca claims to have always been committed to quality, controlled growth and product expansion.


FUTURE OUTLOOK:

A financial strength of 150-225 Million (based on Paid Up Capital) and an overall condition which is fair (slightlygreater than average risk). (3/94 - D&B)

LAST D&B: March 16, 1994DUNS NO.: 43 400 1350Standard Industrial Code (SIC)/Description3523 - Manufacturing, Farm Machinery and Equipment5083 - Wholesale Trade, Farm and Garden Machinery5099 - Wholesale Trade, Durable Goods, N.E.C.LAST PROFILE REVIEW/UPDATE: December 14, 1990 (Minor updates: 4/94 & 9/98)

PERFORMANCE FRICTION CORP.April 23, 199354TM

INTERNET: http://www.performancefriction.com/


MAJOR PRODUCT CLASSES: Drive Train

LOCATIONS:

Headquarters - Clover, South Carolina, USA, 83 Carbon Metallic Hwy

Leases 70,000 sq. ft. in a one story brick and concrete building in normal condition. (4/93 - D&B)----

PFC - Gastonia, North Carolina, 108 Chicksaw Road

Mach 3 - Gastonia, North Carolina, 1940 Kyle Court

PFC - UK Offices, Buxton, Derbyshire

PFC - Japan Offices, Tsuji, Urawa-City, Saitama-Pref 336-0026, Japan

EMPLOYMENT:

1989 - 195 (1/90 - D&B)1992 - 150-200, Employees peak to 200 during summer. (4/93 - D&B)

SALES:

Private company, declined all financial information. (4/93 - D&B)

HISTORY:

1948 - Business started by Earl Burgoon.1990 - July, moved to Clover, SC from Gastonia, NC

PRODUCTS:

Off-Highway brake friction components. Also produces components for several other types of applications.----

Manufactures advanced friction composites (100%) including disc brake pads under "Carbon Metallic" trademark.(4/93 - D&B)

----Primarily organic dry disc. R&D in process of developing new material for wet disc. (6/90 Independent Study)

----Distributes several other brands of metallic and non-metallic friction materials. (6/90 - Independent Study)


QS9000 and ISO9001 certified. (6/00 - PFC Internet)----

Refer to the following Competitive Test Reports (CTR) and Parts Competitive Bulletins (PCB):


DT90-11 Brake Friction Material (A4) PEWP0018DT90-12 Brake Friction Material (A6) PEWP0019

----Rumored to be a low quality product. Dropped as a Cat supplier. (6/90 - Independent Study)


PRICING:

No price information available in Parts Pricing Dept.'s CIS system. (4/93)----

Price leader (6/90 - Independent Study)


Territory is International. Sells to original equipment and aftermarkets in the industrial, off-road, racing and on-highway automotive industries. (4/93 - D&B)

----Construction Equipment Magazine's 1993 Buyer's Guide lists Catco, St. Paul, MN (plus branches) as a distributor oftheir product.

----Business mix:

Automotive 50%Off-highway equipment 20%Industrial 30%Total 100% 6/90 - Independent Study)

----Supplies Komatsu and Dresser. (6/90 - Independent Study)

----

Concentrates on mining applications. (6/90 - Independent Study)

GENERAL:

Ranked by P&SM as an 'A' Drive Train (Brake Component) Competitor. (4/93)----

100% of capitol stock is owned by Donald Burgoon. (4/93 - D&B)----

1990 (may still be) associate member of Independent Distributors Association (IDA). (1990 - IDA MembershipRoster)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: April 22, 1993DUNS (D&B NUMBER): 01-757-3171SIC (CODES): 37 14LAST PROFILE REVIEW/UPDATE: April 23, 1993

RAYBESTOS PRODUCTS COMPANYAugust 29, 200056GA

(Subsidiary of Raytech Composites Inc., Shelton, CT. Top parent is Raytech Corporation, Trumbull, CT,holding company.)

INTRERNET: http://www.raybestosproducts.com/



LOCATIONS: Headquarters - Crawfordsville, IN

- Raybestos Tech Center, Crawfordsville, IN- Peoria Sales Office, Peoria, IL- European Sales Office, Raybestos Reibtechnik GmbH Quettinger Strasse 220 D-51381 Leverkusen Germany- Raybestos United Kingdom Ltd., Liverpool, England- Advanced Friction Materials Company (AFM), Sterling Heights, MI

EMPLOYMENT:

1991 - 700 (6/91 - Automotive Industries Magazine)1992 - 600 (585, headquarters) (2/93 - D&B)

SALES: Fiscal year ends late December.

Year Sales Worth

1990 -- $28,160,590 (2/93 - D&B)1991 -- $30,243,610 (2/93 - D&B)1992 $72-75,000,000 -- (2/93 - D&B)

(projected)

HISTORY:

1982 - Product known as Raybestos-Manhattan prior to 1982.1983 - Fully equipped research and development facility built. (6/90 - Automotive Industries Magazine)1987 - Raybestos Products Company, came about when the assets of Raymark Corporation were purchased

by Raytech Corporation.1988 - Specialized paper saturation equipment installed and paper making machine began operations. (6/90

- Automotive Industries Magazine)1989 - March, Raytech Corp. (top parent) filed a Chapter 11 petition for reorganization in order to obtain a

ruling on asbestos liability. (2/93 - D&B and 8/89 Value Line Report)

1996 - Raybestos Product Co., Crawfordsville, Indiana, has acquired a minority interest in AdvancedFriction Materials Co., Sterling Heights, Michigan. The two companies have also entered into anagreement to share material, product and manufacturing process technology for automatictransmission friction products. (5/96 - Diesel Progress, Engines & Drives Magazine)

PRODUCTS:

Raybestos Products Company is one of the largest developers and suppliers of friction material products in theworld. Their products can be found in wet clutch, wet brake, torque converter, differential and synchronizerapplications. In the Crawfordsville Indiana plant, they have the capability to produce a wide range of frictionmaterials including paper, graphitic, elastomeric, and sintered metal products.

QUALITY:

Crawfordsville, IN facility is a Certified Supplier to Caterpillar. (3/93)----

Raytech subsidiaries achieve QS-9000 and ISO 9001 Certification: On September 30, 1998, RaytechCorporation announced that two more of its subsidiaries have achieved QS-9000 and ISO 9001 certification, thevalidation of quality performance required to do business in the automotive industry today.

Raybestos Industrie-Produkte GmbH of Morbach, Germany, received the designation for its research anddevelopment, production and finance and administrative operation. The subsidiary is a leading producer of dryfriction material for use in Europe and the United States.

Raybestos Friction Products (Suzhou) Co. Ltd. of Suzhou, China, also received QS-9000 certification forfinishing operations. The Suzhou facility celebrated its grand opening on September 15, 1998. Although thefinishing operation was the only step available for audit, it is anticipated the remainder of the processes will beQS-9000 certified in the near future.

Raybestos Products Company, which specializes in the design, development, production and distribution offriction materials, and the production and distribution of specialty engineered friction-related products to theautomotive and heavy duty markets received QS-9000 and ISO 9001 certification earlier in 1998. (9/30/98 -Business Wire)

----Raybestos earned the Targets of Excellence award from the Allison Transmission Division of General Motorsfor its clutch plates. (1/91 - OEM Off-Highway Magazine)



Sells to automotive market and heavy duty industry, has 200 accounts, territory is United States (95%) andexport (5%). (2/93 - D&B)

----Sells to OEMs and the aftermarket.

----

Although P&SM generally considers Westrock as a DT (friction material) competitor, a Westrock brochure obtained10/87 indicates they offered the following at that time:

- Intertractor non-undercarriage- Aeroquip product- Esco bucket teeth- Pacal blades- “Bulldog” brand hydraulic cylinder kits

(10/87 - Westrock brochure)

PRODUCT FEATURES:QUALITY:MARKETING:PRODUCT SUPPORT:WARRANTY:

PRICING:

Transaction level price observations are available in the Competitive Parts Report (CPR) portion of PMIS. (2/95)----

The most current price list in Parts Pricing Dept. is effective Feb. 1, 1989. (2/95)----

Terms include cash and 1% 10 days net 30. (3/94& 7/00 - D&B)


From approximately May 1993 through November 1994, Westrock exported product, predominately brake parts, toAustralia (5 shipments) and Belgium (3). Below is a summary:

Months Country Cargo Weight

5/94, 3/94, 1/94, 11/93, 10/93 Australia 15,912 lbs.11/93, 6/93 Belgium 1,928 lbs.(2/95 - P.I.E.R.S.)

----Territory is International. (2/95 & 7/00 - D&B)

----According to information in the Competitive Parts Report (CPR) system, Westrock sells direct and through BrakeSupply Co. Inc. Most CPRs submitted were by two NACD dealers (J. A. Riggs and Whayne Supply). There werealso a few from CofA dealer, Westrac Eq. (2nd & 3rd Qtrs. 1992. (3/94)

----According to representatives from Raybestos, Brake Supply Co. no longer sources from Westrock. They used tosource Raybestos product from Westrock, but when Raybestos got out of the replacement parts market, Westrockreportedly started sourcing from Thermoset and Brake Supply started sourcing GKN product. (1/93-GKSpringborn,P&SM, DT Section)

----Distributes into Australia through Angus International. (11/92 - GKSpringborn, P&SM, DT)

GENERAL:

Ranked by M&DS as a 'D' DT (friction material) competitor. 'D' competitors are major replacement parts distributors.(2/95)

----100% of capitol stock is owned by Bob Teague (officer) and Danny Daniel (President). (7/00 - D&B)


Bob Teague of Westrock previously worked for friction products manufacturer and Caterpillar supplier, S.K. WellmanCompany (1973 – 1981). (7/00 - D&B)


Very small company with little representation. (11/92 - GKSpringborn, P&SM)

FUTURE OUTLOOK:LAST D&B: July 13, 2000DUNS (D&B NUMBER): 04-667-8280SIC (CODES): 50 85 Wholesales Industrial Materials and SuppliesLAST PROFILE REVIEW/UPDATE: July 13, 2000

RIMEX SUPPLY LTD.September 15, 199864JS

INTERNET: http://www.rimex.com


MAJOR PRODUCT CLASSES: DT (Wheels and Rims)

LOCATIONS:

Headquarters - Surrey, British Columbia, Canada9726 186 St.

Rents 2,790 sq.m., two story concrete block building.11,160 sq.m. plant, 2,790 sq.m. warehouse.

Branches - Edmonton, Alberta, Canada

Subsidiary - Phoenix, Arizona, USA (Rimex Inc.) (9/98 - D&B)----

Not sure what the difference between locations listed on the 9/98 D&B and "Contact Information" and "Toll FreeNumbers" listed below (minus phone numbers) as appears on Rimex's web site:

Contact Information:

British ColumbiaSaskatchewanAlbertaNevadaAustraliaSouth AfricaChileChina

Toll Free Numbers:

Canada, Washington, OregonAustraliaChileIndonesia

EMPLOYMENT:

1990 = 60 (25 at headquarters) (10/90 - D&B)1992 = 60 (25 at headquarters, 20 at Arizona, 15 California) (10/92 - D&B)

2

1998 = 110 (104 at headquarters)

SALES:

Fiscal year ends 7/31/98)----

1992 = C$18,000,000 (10/92 - D&B)1995 = 15,000,000 (9/98 - D&B)1997 = 25,000,000 (9/98 - D&B)

HISTORY:

1976 = Business started.

PRODUCTS:

Rimex is a custom manufacturer of all wheels and rims for mining, forestry and industrial equipment, specializing inHaul Trucks and Loaders. With 20 years in the industry and over thirty years experience, Rimex designs andmanufactures longer-life wheels and custom applications. Rimex claims to be the only manufacturer to haveadvanced wheel technology to precisely match modern radial tire designs. Due to the special construction of theradial tire, it has a more flexible sidewall, causing more movement in the bead area.

Rimex began the development of a rim specifically designed for radial tires. This led to the birth of the MachinedExtreme (MES) Series and the Taper Secure Radial (TSR) Series rims and wheels. The MES SERIES rim/wheel istheir answer to the more aggressive radial tire now being used in open pit mining applications. The TSR SERIES is aunique design as it uses a taper concept to secure the flanges in place. The three areas of benefit to the customer areextended rim life, increased safety levels and extended tire life. Additional detail is available on Rimex's web site.(9/98 - Internet, http://www.rimex.com)



Principal customers are commercial concerns, logging and mining industry.Principal territory is international, exports/imports. Reportedly has 500 active accounts. (9/98 - D&B)

PRICING:

No pricing information available in Pricing & Market Research's CIS or CPR systems. (9/98)


GENERAL:

No Annual Report available, as this is not a Public company. (9/98)----

Christopher Weston, President/Director, holds 100% interest. (9/98 - D&B)----

Two vehicles. (9/98 - D&B)

3

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: September 15, 1998DUNS: 20-994-5864SIC/DESCRIPTIONS:

3714 - Manufacturing, motor vehicle parts and accessories3714 0059 - Manuufactures wheels, motor vehicle3714 0047 - Manufactures rims, wheel: motor vehicle

LAST PROFILE REVIEW/UPDATE: September 15, 1998

ROCKY MOUNTAIN BRAKE SUPPLY INC.January 29, 199660LU

Not related to Brake Supply Co.


MAJOR PRODUCT CLASSES: Drive Train (Brakes)

LOCATIONS:

Headquarters - Casper, Wyoming1489 N. Bryan Stock Trail

Headquarters consist of two buildings; industrial section on well-traveled street; leases 9,650 sq. ft.

Branch - Elko, Nevada (1/96 - D&B)2252 Last Chance Road

EMPLOYMENT:

Sep 1995 - 30 (14 at headquarters) (1/96 - D&B)

SALES:


Sales Profit (Loss) Worth

1993 $4,589,721 -- $861,746 (1/96 - D&B)1994 4,404,309 (55,161) 818,781 (1/96 - D&B)1995 5,000,000 projected 9/26/95 -- (1/96 - D&B)

HISTORY:

1980 - Business started by Hall Brake Supply Inc., Phoenix, AZ. Operated as a branch until 1984.1984 - October, ownership change.

PRODUCTS:

Wholesales large industrial brakes (100%). (1/96 - D&B)



No list price information in Pricing's CIS system. (1/96)----

No transaction level price observations in the Competitive Parts Report (CPR) portion of PMIS. (1/96)


Territory is Montana, Utah, Colorado, Wyoming, North Dakota, South Dakota, Idaho, Nevada, and California. Sellsto mines and off-highway industrial concerns. (1/96 - D&B)

GENERAL:

100% of capital stock is owned by Kenny Baker Jr., president. (1/96 - D&B)----

Not a member of Independent Distributors Association (IDA). (1995 Membership Roster)----

Not on Caterpillar Export Services (CES) Reseller List. (1/96)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:

Financing secured, financial condition strong. (1/96 - D&B)

LAST D&B: January 3, 1996LAST PROFILE REVIEW/UPDATE: January 29, 1996DUNS (D&B NUMBER): 12/141-7091

SIC (CODES): 5013 Wholesales Brakes

S. COHN & SON INC.September 14, 199831JP

INTERNET: http://www.contractorshotline.com/directories/parts_a-c.html#Caterpillar

The above link may no longer be active.


MAJOR PRODUCT CLASSES: Undercarriage Drive TrainEngine HydraulicsGet General Usage

LOCATIONS:

Headquarters - Indianapolis, IN1402 N. Capitol Ave.

Owns 100,000 sq. ft. in four story brick building in good condition, semi-industrial section on well traveled street.

Branches - Washington, IN, Highway 50E- Union, MO (St. Louis area), 1225 Old Smelter Rd.- Monroe, OH (Cincinnati area), 230 Senate Drive (9/98 - D&B)

EMPLOYMENT:

1985 = 14 (1/85 - D&B)1986 = 27 (18 in Indianapolis, IN) (9/86 - D&B)1987 = 27 (18 in Indianapolis, IN) (7/87 - D&B)1991 = 27 (18 in Indianapolis, IN) (11/91 - D&B)1992 = 27 (18 in Indianapolis, IN) (7/92 - D&B)

Aug 1994 = 37 (18 in Indianapolis, IN) (3/95 - D&B)Jun 1995 = 37 (23 in Indianapolis, IN) (3/96 - D&B)Sep 1996 = 55 (29 in Indianapolis, IN) (2/97 - D&B)Nov 1997 = 60 (29 in Indianapolis, IN) (9/98 - D&B)

SALES:

Fiscal year ends December 31----

Sales Net Profit Worth===== ========== =====

1994 $14,554,996 300,043 1,023,368 (2/97 - D&B)1995 18,559,676 155,391 920,599 (2/97 - D&B)

2

1997 18,600,000 NA 1,161,120 (9/98 - D&B)(Projected 11/7/97)

----HISTORY:

1918 - Business started by the late Sam Cohn.1964 - Control succeeded by Alan L. Cohn.1981 - Started S. Cohn of Ohio Inc.1983 - Started S. Cohn of Texas Inc., Houston, TX1987 - December 16, Corporate name changed from S. Cohn & Son Auto Co. Inc.to S. Cohn & Son Inc. (8/92 -

Lexis Report)1987 - Opened their fourth branch location, S. Cohn & Son of Illinois, Inc., 66 W. Lake St., Northlake, IL

(Chicago area)1987 - Opened Faribault, MN (Minneapolis area) branch. This branch also closed, but date is unknown.1988 - Opened their seventh store, S. Cohn & Son of Tennessee, Inc., 1715 Cherokee Blvd., Memphis, TN

(2/5/88 - Machinery Trader Central Magazine) This branch closed in 1990.1989 - S. Cohn & Son of Illinois Inc. moved from Northlake, IL (Chicago area) to 742 Factory Rd., Addison, IL

(Chicago area), for more space. It is believed this branch is closed, but date is unknown.1990 - 4th qtr., closed their S. Cohn of Tennessee Inc. branch due to heavy aftermarket competition from

Heavyquip, Deltaquip, Industrial Tractor Parts and Barton Equipment (Deere dealer). (8/92 - K. Wohlford,NACD, PSSR)

1991 - Dropped Berco line of undercarriage in favor of Italtractor (2/91 Matt Diorreo, Patten Tractor)1995 - Jan. 1, S. Cohn of Ohio Inc., Fairfield, OH, merged with S. Cohn & Sons Inc., Indianapolis, IN. (2/97 -

D&B)Believe this operation moved to Monroe, OH. (2/97 - RBRodgers, P&MR)

PRODUCTS:

Wholesales and retails heavy duty parts for general construction and mining equipment. (9/98 - D&B)----

Wholesales heavy duty parts for trucks (50%) and construction equipment (50%). Has 150 accounts. (7/92 - D&B)----

As of 9/11/98, via Competitive Parts Reports (CTR) for the latest eight quarters, the following brands were reported:

- Italtractor - Chicago Rawhide- Berco (3rd qtr. 97) - Apex (U/C)- Bucyrus Blades - Hensley Industries- Esco Corporation - NTN Bower Corp.- Industrial Parts Corp. (IPD)

----According to an S. Cohn promotional piece, received 3/95 (no effective date, but believed to be relatively current) thefollowing brands/products are offered:

- ITM (Italtractor)Undercarriage - OTC Tools(Still know to feature ITM, 10/97)- GH Hensley Tooth Points - Sweepster Brooms

3

- H&L Tooth Points - Racor Products (Parker Hannifin)- Bucyrus Blades - Allied Grouser Steel- Pyramid Crane Parts - Wise Seat Cushions- Clevite Engine Parts - Ecco Back Up Alarms- Federal Mogul Bearings - Huber Reversible Fans- Bulldog Hydraulics - Burch Heat Enclosures- Rex-Union Chain - Trencher Parts- Werk-Brau Buckets - Pintle Hooks- Hendrix & Page Dragline Parts - Load Binders- Tiger Brand Wire Rope - Machine Paint- Peabody Barnes Pumps - Safety Equipment

The following types of parts are offered:

- Undercarriage Parts - Torque Converter Parts- Track Hardware Parts - Blade & Bucket Attachments- Final Drive Parts - Hydraulic Parts- Engine Parts - Roller Frame Parts- Transmission Parts - Seal Groups- Steering Parts - Miscellaneous Parts

The following Used/Rebuilt Component parts are offered through their Indianapolis, IN location:

- Engines - Scraper Hitches- Transmissions - Radiators- Torque Converters - Undercarriage Parts- Cylinder Heads & Blocks - Oil Coolers- Final Drives - Rims- Planetaries - Equalizer Bars- Crankshafts & Camshafts - Hydraulic Pumps- Blades & Buckets - Hydraulic Cylinders- Cabs - Roller Frames

The following equipment is offered through their Washington, IN location:

Used:

- Crawler Tractors - Scrapers- Crawler Loaders - Graders- Rubber Tire Loaders - Winches- Rubber Tire Backhoes - Trailers- Crawler Backhoes - Miscellaneous Equipment

New:

- Haybuster

4

- Industrial Tub Grinder- Bale Buster- Rock-Eze- Ground Hog

This same brochure claims complete shop service and complete welding service. (S. Cohn & Son Brochure Received3/95)

----According to Construction Equipment Magazine's 1992 Buyers Guide, S. Cohn offered the following brands notmentioned in their 3/95 brochure:

- Corona Clipper & Forge Co. GET- Earnest Machine Products Co. Hardware- Link Belt Bearing A.F. Bearing- Miba Fritec GmbH Eng. Bearings +/or Friction Discs- Phillips Gasket Inc. (Fel-Pro Group) Sealing- S.K. Wellman Corp. Friction Products- Palm Industries- Rexnord Corp.- Rubbermaid Specialty Products- U.S. Tsubaki, Inc.

Other brands S. Cohn & Son has been known to carry, not listed previously in this section:

- Baldwin Filters (1st Qtr. 1996, CPR)- Braden and Tulsa winches (1984)- Dynacore (4th Qtr. 1994, CPR)- General Electric (2nd Qtr. 1996, CPR)- Intertractor (2nd Qtr. 1995, CPR)- National Oil Seals (2/88)- PACAL - edges (2/89)- Preco (2nd Qtr. 1996, CPR)- Regal (1st Qtr. 1996, CPR)*- SIRT (1st Qtr. 1996, CPR)- Valk - edges (2/89)- Wrenco (2nd Qtr. 1995, CPR)

----TREK Files Complaint Against S. Cohn 10/92 - Trek (Letts Industries) filed a complaint with Italtractor (ITM)against another direct importer, S. Cohn & Son for selling at cost or below cost. Italtractor responded by allowingTrek to become the only direct importer of Italtractor undercarriage components in the Midwest. S. Cohnreportedly said that if they couldn't buy direct, Italtractor would have to buy back their inventory. In an effort tominimize this, Italtractor has allowed other dealers to buy S. Cohn's inventory. It is unclear what S. Cohn's plansare regarding their undercarriage business, but if they continue to sell Italtractor, they would apparently have tosource from Trek. (10/92 – Don Everingham, Michigan Tractor)

----Contrary to the 2/91 information supplied by Patten Tractor (below), we received another field report indicatingBerco dropped S. Cohn over a dispute concerning payments. (7/92 - Don Everingham, Michigan Tractor)

----S. Cohn & Son has reportedly dropped the Berco line of U/C and switched to Italtractor (ITM). Our understandingis that Berco is focusing on their OEM business and was unable to completely fill a recent S. Cohn order. S. Cohn& Son claims to have been the second largest direct importer of Berco U/C in North America. (2/91 - Matt Diorreo,

5

Patten Tractor & Equipment Co.)----

PIERS, a data base recently made available to Caterpillar's Business Resource Center, allows the tracking ofimports into the U.S. This system provides total cargo weight and a very generic product description. The exporteris often the actual manufacturer, but sometimes the name of the transportation company is listed instead, making theanalysis more difficult. According to a PIERS contact, when the transporter is listed as the exporter, they may beacting as a broker or they could be handling consolidated shipments.

(This report, run 2/19/92, looks at approximately a 15 to 18 month period.)

Listed below is a summary of imports by exporter name. All observations were from June 5, 1991 throughSeptember 25, 1992:

- V. AR. VIT SpA, markets Vescovini hardware - one shipment totaling 41,535 lbs. total cargo weightreceived on August 8, 1991. Port of origin was Milan, Italy and port of discharge was Norfolk, VA.

- Saima (believed to be freight transportation company Saima SpA Innocente Mangili) - five shipments of"tracks for tractors" totaling 236,755 lbs. total cargo weight. Port of origin was Genoa, Italy and port ofdischarge was New Orleans, LA.

QUALITY:

Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) are available on brands offered by S.Cohn. (9/98)

MARKETING:

Known forms of advertising:

- Direct mail- Fliers- Trade Magazines (3/96)


The following information came from an S. Cohn & Son "Ground Engaging Guide" received 3/95:

- Minimum order of $50.00. Minimum order applies to Ground Engaging items only.- Prices: Dealer cost is per the attached price list. Published and quoted prices are subject to change without

notice.- Deliver: All goods are F.O.B. Indianapolis, unless it is specified to the customer that the parts will ship from

another S. Cohn & Son location.- Service Charge: A service charge of $25.00 will be applied to the purchase to cover any special handling of air

freight shipments or any other special shipping requests.- Payment terms: 2% 10. Net 30, with approved credit.

Discount Structure:

Total $ Amount of Sale Discount Freight

$0 to $499.00 -- F.O.B.

6

$500.00 to $2499.00 5% F.O.B.$2500.00 and Up 5% Pre-paid

(S. Cohn Brochure Received 3/95)


Sells to construction and mining industry, territory is Midwest, reportedly has 1,500 accounts. (9/98 - D&B)----

The following NACD Caterpillar dealers have submitted Competitive Parts Reports (CPR) during the latest eightquarters. (9/98)

- Whayne Supply - Fabick Tractor- Ohio Machinery - Macallister- Holt Co. of Ohio - Carlton- Loiisiana Machinery

----After closing their Memphis, TN branch (4th qtr. 90), S. Cohn continued to have a rep who operated out of hishome, covering West Tennessee and Northern Mississippi, until approx. 1st qtr. 92. Parts were brought in asneeded. Now it appears Cohn has set up Deere dealer Barton Equipment as a stocking distributor, apparently forundercarriage parts only. (8/92 - KKWohlford, NACD, PSSR).

GENERAL:

100% of capital stock is owned by the officers, Alan L. Cohn - Pres., CEO, Douglas Cohn - V. Pres., Stewart Cohn- V. Pres. (9/98 - D&B)

----Each S. Cohn location (3) is a member of the Independent Distributors Association (IDA). (1995 MembershipRoster)

----Not on Cat Export Services (CES) Reseller Listing. (9/14/98)

----S. Cohn & Son is ranked as a 'D' competitor (major distributor) for drive train gears and undercarriage. (9/98)

----S. Cohn is not a member of the following national locating and selling networks: Telequip (10/90 - Member List)and Peed Parts & Machinery Network (2/97 - Peed, Internet).


To offer a complete line of aftermarket parts (primarily for Cat machines) at transaction prices 20% to 50% belowCat list prices. (2/89 - Thompson Machinery of W. TN)


Does not have own service shop. Believed to sub-contract service work. (7/92)----

Based on PIERS information (see Products section). Cohn is not a direct importer of most of its brands offered.(8/92 - P&SM, Mkt. Res.)

FUTURE OUTLOOK: Financial condition good. (9/98 - D&B)LAST D&B: September 1, 1998

7

LAST PROFILE REVIEW/UPDATE: September 14, 1998DUNS (D&B NUMBER): 01-639-8075 S. Cohn & Son Inc.

SIC CODES/DESCRIPTIONS:50 13 Wholesale Trade, Automotive Parts and Supplies50 82 Wholesale Trade, Construction and Mining Machinery & Equipment

SKF USA INC./AB SKFAugust 19, 200022AI

Much of this profile is pretty old. Refer to Internet sites for most current information.

INTERNET: http://www.skf.com/ http://www.skfusa.com/


MAJOR PRODUCT CLASSES: Drive TrainEngineGeneral Usage

LOCATIONS:

AB SKF parent company is located in Goteborg, Sweden.

SKF USA Inc. is located in King of Prussia, PA.

Branches:

SKF USA maintains approximately 20 domestic manufacturing facilities and numerous warehouse and salesfacilities throughout the United States. The company also maintains the following divisions:

- SKF Condition Monitoring, San Diego, CA - SKF Plain Bearings, Colebrook, CT - Deep Groove Ball Bearing Division, Gainesville, GA - Needle Roller Bearing Division, Bremen, IN - SKF CR Industries, Elgin, IL - SKF CR Services, Elgin, IL - Tapered Roller Bearing Division, Glasgow, KY - MRC Bearings, Jamestown, NY - Angular Contact Ball Bearing Division, Altoona, PA - SKF Component Systems, Bethlehem, PA - SKF Handling Systems, Bethlehem, PA - Nice Specialty Bearings, Kulpsville, PA - Korody-Colyer Division, Compton, CA - CR Industries, Springfield, SD (Mfgrs. Automobile Seats) (12/94 - D&B)

----Subsidiaries:

SKF USA has three subsidiaries: - SKF Warehouses Inc, King of Prussia, PA, started 1975. Operates as a wholesaler of ball, roller, and needle bearings. - SKF Condition Monitoring Inc., San Diego, CA, started 1989. Operates as a manufacturer of monitoring systems specializing in vibration meters. - CR Industries, Inc., Springfield, SD, acquired October 1990, is currently

inactive.

Intercompany relations consist of merchandise transactions. (12/94 - D&B)----

Sister Subsidiaries:

Through common parent, SKF USA is related to over 100 concerns throughout the world. The more prominentones are listed below:

- SKF Osterreich AG, Steyr, Austria - SKF do Brasil Ltda, Sao Paulo, Brazil - SKF France SA, Clamart, France - SKF GmbH, Schweinfurt, Germany - SKF Bearings India Ltd., Bombay, India - SKF Industrie SpA, Rivoli, India - SKF de Mexico, SA de CV, Mexico, DF - SKF Espanola SA, Madrid, Spain - SKF (UK) Limited, Luton, UK

All sister subsidiaries are engaged principally in the manufacturing and distribution of ball and roller bearingsand seals. intercompany relations include merchandising transactions and sharing of management. (12/94 -D&B)

EMPLOYMENT:

SKF USA Inc.:

Apr. 1993 (yr) = 6,000 (400 at headquarters) (1/94 - D&B) Oct. 1994 = 5,960 (400 at headquarters) (12/94 - D&B)

SKF Group employment as of Dec. 31:

1989 - 49,413 (1993 Annual Report) 1990 - 53,995 (1993 Annual Report) 1991 - 52,469 (1993 Annual Report) 1992 - 45,151 (1993 Annual Report) 1993 - 41,394 (1993 Annual Report)

SKF Group, Bearings & Seals, employment as of Dec. 31:

1991 - 43,490 (1993 Annual Report) 1992 - 41,523 (1993 Annual Report) 1993 - 38,203 (1993 Annual Report)

SALES:

SKF expands action program to improve profitability: On June 29, 1998, SKF announced an action programwhich, together with the one launched in 1997, will increase the Group's annual operating earnings by SEK 1.5billion for the year 2000 and beyond. The company will take provisions of more than SEK 1 billion, including

some depreciation of assets, during the second half of 1998. This is on top of the SEK 700 million provisionalready made in 1997. This process will reduce the number of employees by about 4,000 in total.

Intense price competition and an unfavorable sales mix, resulted in weak first-quarter earnings in 1998. Thistrend, in conjunction with developments in Asia, means that earnings in the second quarter will be below thelevel of the first quarter.

The action program now being introduced includes the restructuring or elimination of operations withunsatisfactory profitability. This will lead to factory closures and closures of production channels withinfactories. The program also involves reduction of personnel within the different central units of the Group. Atthe same time, the program includes greater focus on service.

SKF's objective is to reach an operating margin of 10 percent over a business cycle. SKF's current margin isbetween 6 and 7 percent.

The Automotive business will be restructured. The division accounts for about 20 percent of the Group's totalrevenues. Sales of bearings to the automotive industry are characterized by unsatisfactory profit margins, butSKF Automotive consists of a number of different businesses - wheels, engines and other applications - all withvarying degrees of profitability. Products and businesses with insufficient profitability will be restructured orphased out.

To grow its bearing operations, SKF will strengthen its focus on the service business. SKF will continue to offera full product range and also broaden the scope of business by creating new service concepts.

Substantial growth potential can be seen for SKF within the service and after-market areas. These operationsoffer higher margins. With both a stable customer base and a strong brand name, SKF believes they have theopportunity to become more active further ahead in the value chain. In their opinion, the service business willshow substantially greater growth than the market as a whole. (6/29/98 - SKF News Release / Internet)

----SKF USA Inc. fiscal year ends 12/31:

1990 - $824,711,000 (1/94 - D&B) 1991 - 851,849,000 (12/94 - D&B) 1992 - 861,963,000 (12/94 - D&B) 1993 - 892,816,000 (12/94 - D&B)

----SKF Group Sales:

Sales Sales (Millions) (Millions) Swedish U.S. Year Kroner Dollars

1989 Skr 25,066 $3,864 (1993 Annual Report) 1990 27,766 4,689 (1993 Annual Report) 1991 26,302 4,340 (1993 Annual Report) 1992 26,649 4,587 (1993 Annual Report) 1993 29,200 3,748 (1993 Annual Report)

----SKF Group Bearings & Seals sales:

Sales Sales (Millions) (Millions) Swedish U.S. % of Year Kroner Dollars Total

1989 Skr 23,754 $3,662 95% (1993 Annual Report) 1990 26,476 4,471 95% (1993 Annual Report) 1991 24,347 4,018 93% (1993 Annual Report) 1992 22,690 3,905 85% (1993 Annual Report) 1993 27,199 3,492 93% (1993 Annual Report)

----SKF Group, Bearings & Seals sales by geographical area:

1993

Europe, excluding Sweden 50% Sweden 3% North America 27% Rest of the World 20%

----SKF Group, Bearings & Seals sales by application field:

1993

Industrial Distributors 27% Cars 16% Trucks 9% Railways 3% Heavy Industry 6% General Machinery 15% Aerospace 4% Electrical Industry 5% End Users 6% Vehicle Replacement 9%

----SKF USA (5/94) management attributed the increase in sales and profits to growth of existing markets and newapplications for existing products, primarily in the auto industry. Improving margins are the result ofcontinuing programs targeted towards reducing costs and improving efficiency. The current trend is projected tocontinue through 1994. No further expansion or cutbacks are expected over the next twelve months. (12/94 -D&B)

Since 1990, worldwide sales have shrunk by more than 20%. SKF's operating profits, which peaked at Skr 2.6billion (approximately $400.8M) in 1989, gave way to a Skr 1.1 billion loss in 1992; another large deficit wasreported in 1993.

High profile special orders have not made up for a collapse in mass-market volume. SKF's results mirror thoseof the industry as a whole; bearing sales have fallen by more than 20% since 1990 as recession has overtakenthe car and truck industries which form a quarter of its market. A strengthening Swedish kroner further dulled

the figures. Last year the company set aside Skr 1.1 billion to continue a restructuring which has brought moreplant closures (most recently in Madrid) and shed almost 17,000 employees.

SKF still outsells its main rivals--FAG of Germany and NSK and NTN of Japan--by more than two to one.

Encouraged by signs of an upturn in Europe,which still accounts for 60% of its market, SKF stopped destockingat the end of 1993 and expects to be back in profit by the end of 1994. (3/94 - International ManagementMagazine)

HISTORY:

1909 - Business started.1920s - SKF led the way into aerospace, locomotive and marine propulsion markets through its development

of spherical roller bearings in the early 1920s.1970s - A program of centralization and automation during the 1970s saw the company eliminate a quarter of

the workforce and close six of 22 manufacturing sites. But while costs fell by a fifth, the problem oflead-times remained, driving impatient customers to rivals who could supply them from stock.

1988 - January, U.S. business name changed from SKF Industries, Inc. to SKF USA Inc.1990 - Planning $70m upgrading of Kentucky plant: Having won contracts with U.S. automakers for wheel

bearings, SKF Bearings Industries Inc., King of Prussia, PA will invest up to $70M in modificationand expansion of its existing 366,000 sq. ft. factory in Glasgow, KY. SKF is currently importing allhub units from plants in Italy and France for sale in the U.S. The wheel bearings are currently subjectto dumping duties. The duties have speeded up SKF's process to increase capacity in the U.S.Tapered roller bearings, which the wheel bearing units replace, are now made in Glasgow andproduction of these will continue. Initially, $40M will go into training, equipment and factoryexpansion with production beginning in June 1992. (8/20/90 - Metalworking News Magazine)

1990 - Completes acquisition of CR Industries (Chicago Rawhide): Swedish based SKF Group hasannounced that its acquisition of CR Industries has been completed. (6/90 - Equipment TodayMagazine) Previous announcement: Swedish-based SKF Group has announced a definitiveagreement under which SKF will acquire from IFINT S.A., a Luxumbourg holding company, all thestock of IFINT's wholly owned subsidiary, CR Industries (Chicago Rawhide Mfg. Co.). IFINTacquired CR in 1979. CR is a producer of fluid sealing devices for the automotive, heavy truck, andindustrial original equipment and aftermarkets. It also supplies diesel engine parts (primarily DetroitDiesel and Cummins) through its Korody-Colyer subsidiary. CR also offers capsule nozzles forCaterpillar engines. SKF sees the agreement with CR as a strategic move to expand its operations inthe U.S., SKF Industries Inc. SKF expects the transaction to be completed by early April 1990. (5/90- Equipment Today Magazine)

1992 - Dec. 31, CTT Tools Div. sold to Sandvik AB.1994 - SKF acquires German seal/gasket manufacturer: SKF has finalized the acquisition of Goetze

Elastomere GmbH, a German manufacturer of seals, isolators, and gaskets from Britain's T&N Group.Goetze, with 600 employees and annual sales of 100 million Marks (approx. $63.3M), will be part ofSKF's Seals Division, which consists of U.S. company Chicago Rawhide (CR) and Rft S.p.A. of Italy.(12/7/94 - Dow Jones News & Reuters Information Services)

1996 - SKF breaks ground on new bearing plant in Aiken, SC 4/96: The SKF Automotive Bearing Div. ofthe SKF Group broke ground on a new 289,000 sq. ft. plant located in Aiken, SC, that will producewheel bearing hub units for the U.S. domestic truck and automotive manufacturer markets. The plant,scheduled to be operational by mid-1997, is expected to employ 276 workers and represents aninvestment by the company of approximately $115 million dollars.

The facility, located in the Sage Mill Business Park, initially will have two production lines and hasbeen designed to accommodate future expansion. (4/96 - Fleet Equipment Magazine)

1996 - New Technical Center in Detroit, MI: SKF announced they would build a new Technical Center inDetroit, MI. SKF is also building a new plant in Aiken, SC, for approximately $115M. The reportedcombined investment totaled $123M, leaving $8M for the Technical Center. (4/96 - TP&S Magazine& RBRodgers, P&MR)

1997 - Acquires bearing plant in Ukraine 1/98: SKF has acquired a majority holding in Lutsk Bearing Plant,one of the largest bearings manufacturing companies in Ukraine. The agreement has been authorizedby the Government of Ukraine and is a step in the country's privatization process.

Located in the Volyn region of northwest Ukraine, the Lutsk Plant is the country's sole major producerof taper roller bearings and needle roller bearings. The plant has approximately 300 employees.

Through the acquisition, SKF creates a strong platform for the emerging markets within Central andEastern Europe.

During 1997, Lutsk received ISO 9000 certification.

The plant produces bearings in sizes ranging from 45 mm to 320 mm in outer diameter. Principalcustomers are the large automotive manufacturers in Russia, Ukraine and Belarus (cars, trucks, busesand tractors). (12/29/97 - SKF News Release)

1998 - Personnel cuts at special steels plant, Ovako Steel AB: Ovako Steel AB the world's leading supplierof special steels for the rolling bearing industry and engineering companies with particularly highdemands in terms of quality has served notice of its intention to reduce the work force at thecompany's plants in Hofors and Hallefors, in Sweden, by a total of 200 people. The redundancynotices result from a combination of already implemented and ongoing rationalization programswithin the production and administration areas and weakened order bookings.

In Hofors, about 120 people are involved, equally divided between members of PTK (the PrivateSector's Salaried Employees Negotiating Cartel) and Metall (the Swedish Metal Workers' Union). InHallefors, 45 Metall members are affected and 35 PTK members.

Ovako Steel AB is part of the Special Steels business area within the SKF Group, which has 2,800employees and reported sales of approximately SEK 3.4 billion in 1997. (10/12/98 - SKF PressRelease)

1998 - SKF restructures in Luchow, Germany: Taper roller bearings are the largest bearing type within theSKF Automotive Division. It is also the product type that is most exposed to competition. As part ofthe Group's ongoing profit-improvement program, the manufacture of taper roller bearings will berestructured.

The assortment at the plant in Luchow, Germany, will be streamlined and the manufacture of certainvariants of taper roller bearings will be terminated. The changes mean that the workforce will bereduced by approximately 150 personnel. Luchow will specialize in large dimension taper rollerbearings, principally for use in heavy vehicles. Investments have been granted to support Luchow'srole as supplier of the allocated assortment. (9/25/98 - SKF News Release)

1999 - Roller Bearing Company of America (RBC) has acquired the tapered roller bearing operations of SKFUSA Inc. (9/99 - Diesel Progress, North American Edition Magazine)

1999 - SKF sells its 40% share of Swedish forging unit 2/99: SKF has decided to exit its involvement in theforging unit at Arvika, Sweden. The decision affects 210 employees. Operations include production of

high-strength automotive components, such as connecting rods and items for diesel engines for heavytrucks, among other products. The forging unit also supplies forged rings for the SKF bearingproduction plants. The operations have been unprofitable during recent years and are not considered tobe of strategic importance to the SKF Group. The company is part of the SKF Steel Division.

SKF has agreed to sell its 40% shareholding in WPB Water Pump Bearing GmbH & Co. KG to theGerman bearing group INA. The sale is in line with SKF's strategy to exit loss making businesses.

WPB Water Pump Bearing, with manufacturing of water pump spindles in Momo, Italy, was formedin 1996 as a joint venture between SKF and INA. 1/25/99 - SKF Press Release)

1999 - SKF restructures automotive business in the Americas: The SKF Group has decided to ceaseproduction of taper roller bearings in the U.S. and substantially reduce production capacity at itsBrazilian plant. The measures are intended to re-establish the profitability of the Group's automotivebusiness in the Americas.

Production of taper roller bearings in the U.S. is carried out entirely at the plant in Glasgow, Kentuckyand has been unprofitable for a number of years. SKF's market share for taper roller bearings in theU.S. is small and the plant has been unable to achieve the critical volume required to achieveprofitable production. Accordingly, SKF will supply its customers with taper roller bearingsmanufactured at other plants.

Some 280 persons in Glasgow are affected by the decision. The closure will be carried out by the thirdquarter of 1999.

Due to the lower market demand, production capacity at the plant in Cajamar, outside Sao Paulo,Brazil will be reduced by about one third, with the production of taper roller bearings (hub units forautomotive industry also) being reduced. The reduction in personnel initiated in 1998 will continue. Intotal, the number of employees will decline by some 170. When demand in the Brazilian marketbegins to accelerate again, SKF will supply the market with products manufactured in other Groupplants.

The costs for these measures amount to approximately MSEK 300 and will be charged againstearnings of the SKF Automotive Division in 1998. (SKF - 1/11/99)

2000 - On August 1, 2000, NN Inc. (Erwin, TN, USA), SKF (Goteborg, Sweden), and FAG KugelfischerGeorg Schafer AG (Schweinfurt, Germany) announced that they have finalized their previouslyannounced agreement to form a jointly owned stand-alone company in Europe, named NN EuroballApS.

The new company has acquired ball factories located in Pinerolo, Italy (SKF), Eltmann, Germany(FAG) and Kilkenny, Ireland (NN Inc.) with approximately 700 employees and yearly sales ofapproximately 95 million Euro. The company will manufacture and sell high precision chrome steelballs used for ball bearings and other products, and expects that the economy of scale achieved willenhance competitiveness in both cost and quality.

According to the terms of the agreement, NN Inc. will own 54 percent of the shares in the newcompany, and SKF and FAG will each own 23 percent.

NN Inc. is a leading manufacturer and supplier of precision steel balls to bearing manufacturers andhad sales of US $85.3 million in 1999. SKF, Sweden, is the world's largest bearing company with

sales of SEK 36.7 billion in 1999. FAG Kugelfischer, Germany is one of the largest European bearingmanufacturers with sales of DEM 3.7 billion in 1999. (8/1/00 - PRNewswire)

PRODUCTS:

Manufactures antifriction bearings and seals. The company's complete line of bearings including ball, roller,spherical and needle bearings, rubber shaft and bearing seals, and condition testing equipment used for testingbearings. (12/94 - D&B)

QUALITY:

The following SKF locations are Certified Suppliers to Caterpillar as of 12/94:

- SKF Plain Bearings USA, Winsted, CT, for Spherical Plain Bearings - SKF, RKS Div., Avallon, France, for Slew Gear Bearings - SKF Gleitlager, Puttlingen, Germany, for Spherical Plain Bearings - SKF Ferramentas, Sao Paulo, Brazil, for Rotary Cutting Tolls with Shank

(12/94 - ALAffolter)


Upgraded brochure documents SKF Trouble-Free Operation Program benefits 6/96: A revised and expandedbrochure that cites research data to document how the SKF Trouble-Free Operation Program can extend bearingservice life and virtually eliminate equipment downtime associated with bearing failure is now available fromSKF USA Inc.

The full-color, 16-page brochure details the four critical factors--product quality, proper installation,maintenance and operating environment--necessary to achieve maximum bearing service life. Fourteen printedtechnical articles that may be useful for informal in-house training are packaged in the brochure's rear pocket.The brochure also includes a section on the network of 1,200 SKF- authorized distributors.

The SKF Trouble-Free Operation Program can include any combination of several SKF services and products,including training, planned maintenance, engineering support, on-site troubleshooting, hot-line assistance,bearing failure analysis, condition monitoring, bearing rework, maintenance tools, quality bearings, and more.(6/96 - Fleet Equipment Magazine)

WARRANTY:

PRICING:

An unrivaled global distribution network has become less cost-effective with declining volumes, whileindustrial customers drive ever harder bargains. As the leading world player, SKF should get an advantagefrom setting prices, but this hasn't been possible in the past two years.

But in the 1960s, Japanese rivals begin to capture customers by delivering cheaper products faster, through longruns of standardized products that exploited lower labor costs. SKF, producing close to customers in high

income countries, with an emphasis on special orders, had to match them on price to arrest the fall in marketshare. (3/94 - International Management Magazine)


SKF USA sells to aerospace, automotive, electrical, industrial machinery and industrial distributors. Territoryis international (95% of sales are generated domestically). (12/94 - D&B)

----List of warehouse locations as of 1994 are as follows:

- Atlanta, GA - Gainesville, GA (MRC Bearing Services)- Reno, NV - Allentown, PA (Central Warehouse and Customer Services)- Compton, CA - Bellmawr, NJ- Chicago, IL - Portland, OR- Youngstown, OH - Memphis, TN- Lenexa, KS - Dallas, TX- Eldon, MO

(12/94 - D&B)----

Inventory for SKF USA turns four times a year. (12/94 - D&B)----

Order fulfillment times dropped to nine weeks from 18 weeks by the end of 1993; a further halving is expectedin the next two years.

SKF is soon to merge its 20 European stockholding sites into a single distribution center near Brussels, savinganother Skr 1.7 billion of working capital. This center is directed at the aftermarket. Original equipmentcustomers will be supplied direct to their factory from SKF's factory. With 55 country sales forces and morethan 7,000 distributors, SKF hopes to gain more than its rivals from revival in the higher margin aftersalesmarket, which now yields almost half of total turnover.

Meanwhile, rivals have suffered a double blow--from increased demand for customized bearings and supportservices, which has reduced the advantages of mass production, and from the rising deutschmark and yen. SKFnow holds its own in Europe and is gaining ground in the U.S., where its market share has gone from 6% in1986 to about 13% in 1994. (3/94 - International Management Magazine)

There is a mountain to move in entering Japan itself, where imports still command less than 1% of bearingsales. To get a significant share of the Japanese market, SKF would have to produce onshore. SKF wouldnever have gotten their present share of the U.S. market if they hadn't built up production within the country.The company would need at least three times its current sales in Japan before a local plant could be feasible.For now, it has to settle for an alliance with Japan's number three producer, Koyo.

Elsewhere in Asia, despite further joint ventures between SKF and local partners in India, Thailand, andSingapore, about 85% of demand for the company's products is still met by exports from its European plant(SKF's U.S. operations, by contrast, moved to 85% self-sufficiency with the 1990 purchase of Illinois-basedseals maker Chicago Rawhide). European production, concentrated at Schweinfurt in western Germany, isproving difficult to export at competitive prices, however.

A newly opened factory near Kuala Lumpur in Malaysia will cut the cost of exports to Japan, and aims to forgelinks with recently established Japanese manufacturing plants in southeast Asia. (3/94 - InternationalManagement Magazine)

GENERAL:

Ranked by P&SM as an 'A' DT (AF Bearing) Competitor/Supplier. (8/00)----

99.8% of capital stock of SKF USA Inc. is owned by its parent, .2% by private investors. (12/94 - D&B)----

Since 1990, the SKF group has invested roughly 2 billion kroner in cost-cutting measures. (12/94)


Continue to be industry leader in technology and to expand its market. (3/94)


Manufactures specialty bearings. (3/94)


Financial condition is good. (12/94 - D&B)----

When new-capacity investment resumes, sights will be set on a bigger prize: mainland China. (3/94 -International Management Magazine)

----Technological advance is not over, and SKF has protected its research and development against the squeeze. Itis especially optimistic that "intelligent" bearings, which feed information back to the machinery that drivesthem, will find a wider application following their successful debut in automotive anti-lock braking and tractioncontrol systems.

The company aims gradually to distance itself from downstream cycles by finding new, higher value-addedcustomers in machinery and aerospace and expanding in the U.S. and Asia, where greater regional self-supplyshould also afford protection from currently movements. (3/94 - International Management Magazine)

LAST D&B: SKF USA Inc. = 12/13/94LAST PROFILE REVIEW/UPDATE: Added News 8/29/2000DUNS (D&B NUMBER); SKF USA Inc. = 00-229-7661SIC (CODES): SKF USA Inc. = 3562 3053 3829

SPRINGFIELD REMANUFACTURING CORP. (SRC) - NEWSDecember 31, 199941CXNEWS

http://www.srcreman.com

COMPLETES NEW 66,000 SQ. FT. BUILDING ADDITION 12/31/99

SRC just recently completed their new building addition that is about 66,000 square feet. This new area willhouse the receiving department with 3 dock doors and most of the floor space for warehouse use. Offices werealso put in for the Product Engineering department along with room for an R&D area. SRC also now has a newcafeteria, exercise area, showers, and a conference room big enough to seat all SRC employees if needed.(12/25/99 - http://www.srcreman.com/pages/srcnews.htm)

AGREES TO CHANGE WORDING IN BROCHURE 6/98

At the request of Caterpillar, Springfield Remanufacturing Corp. recently agreed to remove the phrase "NewClaws for an Old Cat" from their advertising and to change the wording of "SRC Caterpillar Engines--AssuredQuality" which could give customers the incorrect impression that their product has the approval or sponsorshipof Caterpillar. (6/98 - R B Rodgers, P&MR)

DEERE AND SPRINGFIELD REMANUFACTURING FORM JOINT VENTURE 1/98

On January 15, 1998, Deere & Company and Springfield Remanufacturing Corporation (SRC) of Springfield,Missouri announced a joint venture agreement, under which a new organization will remanufacture dieselengines for the John Deere Agricultural Equipment and Construction Equipment divisions. In addition toengines, the new joint venture will also remanufacture engine-related components. The limited-liability jointventure will be named ReGen Technologies, LLC.

ReGen Technologies expects to begin operations before the end of 1998 at a newly constructed plant inSpringfield, Missouri, where SRC currently has extensive remanufacturing operations.

According to Deere, SRC was selected because of their commitment to product quality and their experiencewith remanufacturing diesel engines, including Deere. Deere believes this joint venture is the perfect solutionto an unmet need their dealers and customers have in the marketplace. SRC which specializes in engineremanufacturing, provides products and services to the automotive, trucking, agricultural, and constructionequipment manufacturing industries. (1/15/98 - PRNewswire)

TOUR COMMENTS 4/95

Two Caterpillar dealer employees recently toured SRC. The following is a recap of their comments.

SRC claims to rebuild "better" than Cat since they only use Std/.010 cranks, resleeve 100% of std., and use only3-ring pistons. Several IPD boxes were seen during the tour, but it is not known if they are the only supplier.Reportedly the facilities were very impressive/clean. Reported to be one of the top 100 companies to work for,source unknown. SRC claims they are shipping 50+ 3208's per month and their growth strategy will focus onexpanding to other Cat engine families. When asked their source of cores, SRC responded "from dealers".NACD believes this is not necessarily Cat dealers, but assumed to be agricultural, marine, TEPS, etc., andpossibly core brokers also. (4/10/95 - M.D. Wesner, NACD)

EXPANDS AVAILABILITY OF REMANUFACTURED ENGINES 2/95

- 2 -

Ninety percent of SRC's business is sold through OEM companies. But in the next five years, they want tomake independent sales 50% of their business. SRC's first move toward the goal is offering remanufacturedDeere engines through a dozen warehouse distributors with 25 outlets. Deere dealers can also retail theremanufactured engines. The next move will be to add Caterpillar and Cummins engines to the product mixgoing through independent suppliers. SRC continues to supply Case IH, AGCO and Komatsu-Dresser engineson a strictly OEM basis. A remanufactured engine carries the same warranty as a new engine. (Mid-Feb. '95 -Farm Journal)

SPRINGFIELD REMANUFACTURING CORP. (SRC)March 11, 199641CX

INTERNET: http://www.srcreman.com

COMPETITIVE TYPE: RemanufacturerMAJOR PRODUCT CLASSES: Engine Drive Train

LOCATIONS:

Headquarters - Springfield, MO3055 E. Division St.

Facilities - Owns 140,000 sq. ft. in 1 1/2 story steel building in good condition. This consists of twobuildings, industrial section on side street. (2/96 - D&B) (80,000 sq. ft., 1 building, 1/93)

Branches/Divisions -

- 4860 W. Maple Street, Springfield, MO, remanufactures diesel engine and related component parts.- 300 Industrial Park, Willow Springs, MO, remanufactures automotive gasoline and diesel engines and related

component parts.- The following location was reportedly in use 1/93 but not on 3/94. 1801 W. Norton Road, Suite 200, Springfield,

MO, data processing and finance group office.

Subsidiaries -

- SPRC of Canada Inc., Missisauga, Ontario (100%) chartered 1988. Operates as a distribution facility for theparent.

- Avatar Components Corp., Marshfield, MO (80%) chartered 1991. Operates as a remanufacturer of diesel drivetrains.

- Great Game of Business Inc., Springfield, MO (100%) chartered 1991. Operates as business training andpublishing firm.

o Bizlit Inc., Springfield, MO, (85% owned by Great Game), formed in 1993 to develop and sell trainingliterature.

o The Coaching Division Inc. (51% owned by Great Game) does training and consulting work ofmanagement programs.

- Engines Plus Inc., Springfield, MO (72%). Operates as manufacture and distributes engine parts. Purchasedinterest in 1990.

- Newstream Enterprises, L P, Springfield, MO. (51%) chartered 1990. Operates as packaging and kitting of motorparts.

- Megavolt, L P, Marshfield, MO (51%) chartered 1992. Operates as manufacturer of electrical components.- Encore Inc., Springfield, MO (100%) chartered 1994. Core management and storage firm of automotive engines.- Loadmaster Corporation, Springfield, MO (100%) chartered 1994. Alternative fuels marketer.

Intercompany relations for all subsidiaries consist of sharing some officers and normal intercompany relations.There are no formal guarantees or endorsements reported. (2/96 - D&B)

EMPLOYMENT:

1979 = 170 (12/93-Wall Street Journal)1983 = 119 (12/93-Wall Street Journal)1987 = 375 (8/9/87 - St. Louis Post-Dispatch)

Feb 1988 = 450 (350 at headquarters) (7/88 - D&B)Jan 1993 = 700 (375 at headquarters) (9/93 - D&B)

1993 = 750 (12/93-Wall Street Journal)Mar 1994 = 720 (550 at headquarters) (2/95 - D&B)May 1995 = 750 (550 at headquarters) (2/96 - D&B)

SALES:

Year Sales Net Profit

1983 $18,000,000 (12/20/93-Wall Street Journal)01/25/86 - 01/25/87 37,937,498 $1,612,501 (7/88 - D&B)

01/89 - 01/28/90 48,795,034 1,130,964 (9/93 - D&B)01/90 - 01/27/91 66,358,189 2,000,475 (9/93 - D&B)

01/28/91 - 01/26/92 65,195,424 1,347,020 (9/93 - D&B)02/01/92 - 01/31/93 73,327,051 1,535,864 (2/96 - D&B)02/01/93 - 01/30/94 83,191,231 1,780,573 (2/95 - D&B)01/31/94 - 01/29/95 92,316,973 2,417,895 (2/96 - D&B)

HISTORY:

1974 - Business started as International Harvester ReNew Center.1983 - February, IH sold the facility to its employees through 13 principal investors for $9 Million. The

company was renamed Springfield ReManufacturing Corp. (SRC). (12/83 - Diesel Progress North Am.and 12/93 - Wall Street Journal)

1985 - Landed contract to rebuild automobile engines for General Motors.SRC bought another plant in Willow Springs, MO to handle the work. (8/9/87 - St. Louis Post-Dispatch)

1986 - October, corporate name changed from Springfield Remanufacturing Center Corp. to SpringfieldRemanufacturing Corp.

PRODUCTS:

Remanufactures diesel and gasoline drive trains (engines) (70%), related drive train components (20%) and partspackaging (10%). (9/93, 2/95 & 2/96 - D&Bs) The other operations of some of the subsidiaries are presently minorin relation to the total volume. (2/96 - D&B)

----Inventory Values:

01/25/87 $ 9,230,828 (7/88 - D&B)01/26/92 13,587,768 (9/93 - D&B)01/31/93 13,167,023 (2/95 - D&B)01/29/95 16,413,141 (2/96 - D&B)

----Tradename for reman product is ReNEW or ReNEWed

----As of 12/83 - Essentially what SRC is offering is a "private label" engine, drive train and brake systemremanufacturing operation. SRC is operating remanufacturing programs for four separate manufacturers:

One contract calls for SRC to remanufacture engines and engine components for International Harvester's 400 Seriesdiesels.

A second contract has SRC remanufacturing fuel injection pumps, nozzles, water pumps, brake shoes, connectingrods and crankshafts for IH's former construction equipment group, now owned by Dresser Industries.

SRC is also rebuilding the transmissions for P&H's Omega mobile cranes, along with brake shoes.

The fourth contract has SRC rebuilding the transmissions, engines, brake shoes, individual engine components andtorque converters for the PayHauler line of 50 ton trucks. (12/83 - Diesel Progress North Am.)


Tour Comments 4/95 - Two Caterpillar dealer employees recently toured SRC. The following is a recap of theircomments.

SRC claims to rebuild "better" than Cat since they only use Std/.010 cranks, resleeve 100% of std., and use only 3-ring pistons. Several IPD boxes were seen during the tour, but it is not known if they are the only supplier.Reportedly the facilities were very impressive/clean. Reported to be one of the top 100 companies to work for,source unknown. SRC claims they are shipping 50+ 3208's per month and their growth strategy will focus onexpanding to other Cat engine families. When asked their source of cores, SRC responded "from dealers". NACDbelieves this is not necessarily Cat dealers, but assumed to be agricultural, marine, TEPS, etc., and possibly corebrokers also. (4/10/95 - M.D. Wesner, NACD)

----No ReNEW product has been tested as part of Caterpillar's Competitive Parts Test Program. (3/96)


Although the following pertains to a Deere engine, it is the only relatively current warranty statement we have.

"When your engine gives out, give us a call and we'll install the SRC AgriMax engine. The AgriMax isremanufactured specifically for John Deere applications. The engine carries a one-year factory warranty--all parts are100% American made, the price is competitive with major overhauls when machining is required, plus you can beback in the field in half the time.

This 400 series Premium Basic engine is remanufactured to exceed factory specifications, and comes assembled witha long block plus oil pump, oil cooler, water pump, front cover, oil pan, and much more." (9/94 - SRCAdvertisement)

PRICING:

Terms vary from net 30-45 days. (2/96 - D&B)----

No list price information in P&MR's CIS System. (2/96)

----No information in P&MR's Competitive Parts Report (CPR) System. (3/96)


Territory is United States, Canada, and Mexico (2/95 D&B did not mention Mexico). Has 225 accounts (100 on 2/95D&B, 50 on 9/93 D&B). Sells to OEM accounts; dealers and distributors for agricultural, construction, and industrialtrucks; and the automotive industry. Season peaks in spring and summer; fall is slow. (2/96 - D&B)

----Expands Availability of Remanufactured Engines 2/95 - Ninety percent of SRC's business is sold through OEMcompanies. But in the next five years, they want to make independent sales 50% of their business. SRC's first movetoward the goal is offering remanufactured Deere engines through a dozen warehouse distributors with 25 outlets.Deere dealers can also retail the remanufactured engines. The next move will be to add Caterpillar and Cumminsengines to the product mix going through independent suppliers. SRC continues to supply Case IH, AGCO andKomatsu-Dresser engines on a strictly OEM basis. A remanufactured engine carries the same warranty as a newengine. (Mid-Feb. '95 - Farm Journal)

----SRC supplies Case IH engines strictly on an OEM basis. (Mid-Feb. '95 - Farm Journal)

----Inventory accuracy, a measure of in-house availability of replacement parts, leapt to 99% from 48% between 1979and 1980 - and has remained at that level ever since. (12/93-Wall Street Journal)

GENERAL:

Ranked as an 'AR' Engine (engines, transmissions, coolers) competitor. (4/00)----

Ownership - 68% of capital stock is owned by officers, directors, employees. 32% of capital stock is owned byESOP plan. There are approximately 300 individuals in the ESOP plan, with no one owning 10% or more of stockindividually. SRC CEO is John P. Stack, president. (2/96 - D&B)


"Open Book Management", since approximately 1983, employees have gotten weekly peeks at everything fromrevenue and purchasing costs to management and labor expenses. SRC feels the more employees learn, the morethey can do. SRC employees have reportedly responded positively to this strategy. Many say they feel extremelyloyal to the business, have a heightened sense of community and will do whatever it takes to maintaincompetitiveness. (12/20/93-Wall Street Journal)


Employee involvement/commitment.


Financial condition good. (2/96 - D&B)----

Now, SRC is looking to grow further by soliciting new-product ideas from employees. SRC says it encourages staffmembers to develop business plans and invests in the best ones.

For example, a business plan devised by Ms. Bredfeldt led SRC to create a subsidiary called BizLit Corp. Thecompany, started in August, 1993, publishes a workbook on how to train employees to read financial statements. Sofar, it has sold 1,000 copies at $40 each. (12/20/93-Wall Street Journal

LAST D&B: February 7, 1996LAST PROFILE REVIEW/UPDATE: March 11, 1996DUNS (D&B NUMBER): 06-532-0145

SIC (CODES): 3519, 3714

THERMOSET INC.June 13, 199562AG



LOCATIONS:

Headquarters/Manufacturing - Thiensville, WI (Mequon, WI)

Branch - Jackson, WI - manufacturing facility

EMPLOYMENT:

1992 = 50 42 at headquarters (10/92 - D&B)Aug 1994 = 111 80 at headquarters (6/95 - D&B)

SALES:

1992 = $4,150,000 Estimated (10/92 - D&B)1993 = $7,700,000 (6/95 - D&B)

Aug 1994 = $8,500,000 Projected (6/95 - D&B)

HISTORY:

1975 - Business started.1982 - Relocated to Thiensville, WI from Milwaukee, WI.1985 - Research and Development Center established in Mequon, WI.

PRODUCTS:

Thermoset manufactures bonded brake and clutch components and friction materials (asbestos free) for a multitude ofdry and oil-cooled applications. Some of the industries they serve include: recreation vehicle, heavy duty vehicles,agricultural, material handling, crane & hoist, lawn & garden, and appliance.

Thermoset can't manufacture bores and are most active with disks smaller than 12 inches (2.54mm = 1 inch). Theirtechnology for paper products has increased significantly with time. (11/92 - GKSpringborn, P&SM, DT)

----Sheepbridge Sintered Products has signed a joint venture agreement with the U.S. firm Thermoset. Under theagreement, Sheepbridge will supply Thermoset with friction materials for commercial vehicles to sell in the U.S. andSheepbridge will market Thermoset's range which is principally based on non-asbestos paper friction materials.(6/17/86 - Financial Times)


No list price information currently in Pricing Department's (P&MR) CIS System. (6/95)


Territory is International, sells to OEM accounts; has 50 accounts. (6/95 - D&B) 10/92 D&B stated territory was U.S.----

Westrock Co., Little Rock, AR became a customer of Thermoset as of late 1992, because Caterpillar supplierRaybestos Products Co. will no longer sell products to Westrock as of January 1993. (11/92 - GKSpringborn, P&SM,DT & Central Purchasing)

GENERAL:

Thermoset is ranked as an 'A' DT (friction material) competitor. (8/00)----

100% of capitol stock is owned by John McGourthy. McGourthy is a former employee of Raybestos Manhatten Co. -1962 through 1975.

----Thermoset's "main chemist" was Joe Fox. He was instrumental in making Thermoset what it is today, but he leftThermoset to work for National Friction Products because the owner of Thermoset (John McGourthy) wanted to bringhis sons into the business, which must have contradicted with Joe Fox's principle. (11/92 - GKSpringborn, P&SM,DT)


Complete design, custom formulation and testing services. Strength is bonding of clutch pads and brake linings.Current owner/president of Thermoset previously worked 13 years with Raybestos. (11/92 - GKSpringborn, P&SM,DT)


Very small company with perceived limitations in volume production. No core manufacturing capability. (11/92 -GKSpringborn, P&SM, DT)

FUTURE OUTLOOK:LAST D&B: June 13, 1995LAST PROFILE REVIEW/UPDATE: June 13, 1995DUNS (D&B NUMBER): 07-892-6979SIC (CODES): 34 99

TIMKEN COMPANY, THE. - NEWSJune 30, 200021FBNEWS

http://www.timken.com/

ACCELERATES E-BUSINESS STRATEGY WITH ENHANCED DISTRIBUTOR AND CUSTOMER SITE6/30/00

On June 22, 2000, The Timken Company announced they recently expanded distributor and customer access to keybusiness information through its Timken Direct(SM) extranet site ( www.direct.timken.com ).

The site offers bearing distributors and steel customers real-time, 24-hour access to product specifications andavailability, as well as order placement and status. The site is now available in multiple languages to more than 1,000original equipment customers and independent distributors in the U.S., Canada, Mexico and several Europeancountries. The company has plans for continued expansion to other distributors and customers around the world.

Functions for bearing distributors include product availability, price and order placement. The system also has customerinventory management capabilities. The site is available to registered customers through any Internet Web browser.(6/22/00 – PRNewswire)

TIMKEN REACTS TO TERMINATION OF ANTIDUMPING ORDERS ON TAPERED ROLLER BEARINGS6/15/00

On June 2, 2000 The Timken Company reacted strongly to a vote by the U.S. International Trade Commission (ITC)to revoke antidumping duty orders on imports of tapered roller bearings from Japan, Romania and Hungary. TheCommission determined that the domestic tapered roller bearing industry was not likely to be materially injured due todumping by these countries. The Commission upheld the antidumping duty order against China.

Timken states they have no intention of reacting passively as the U.S. industry is seriously injured by any continuousdumping activities. Accelerated dumping as a result of this ruling could negatively impact U.S. bearing markets. U.S. lawprovides U.S. producers the right to seek expedited investigations where an order is revoked and imports surge.Timken will be monitoring trade flows and will not hesitate to protect the interests of their associates, shareholders,communities and customers. If the Commission's view of the future proves wrong, Timken will be back before thecommission immediately.

The Commission separately extended the antidumping duty orders on ball bearings from Germany, France, Japan andseveral other countries. (6/2/00 – PRNewswire)

TIMKEN JOINS LEADING AUTOMOTIVE SUPPLIERS TO IDENTIFY E-BUSINESS SOLUTIONS 6/15/00

On June 7, 2000, The Timken Company announced they had recently joined leading automotive suppliers in a study ofbusiness-to- business Internet-enabled technologies.

The group includes Dana Corporation, Delphi Automotive Systems Corporation, Eaton Corporation, Motorola Inc.,TRW Inc., and Valeo S.A. The companies plan to address technology issues facing the industry and identify business-to-business technology solutions.

Timken believes that this joint effort will complement the initiatives of both their original equipment and independentaftermarket customers. It will likely enable rapid development of systems and standards to significantly improve supply-chain management, customer support initiatives and aftermarket activities. Timken is confident that significantopportunities exist to improve the business processes between themselves and both their customers and suppliers.These opportunities include reduction of costs through common approaches and improved velocity of all interactionsfrom product concept to delivery. (6/7/00 – PRNewswire)

ADDS REPFORCE AS AUTOMOTIVE AFTERMARKET SALES AGENCY 6/15/00

On June 8, 2000, The Timken Company announced it will continue its aftermarket sales agency agreement withRepforce of Aston, Pennsylvania. Repforce represents the complete line of Timken automotive products to customers inDelaware, District of Columbia, Eastern Pennsylvania, Maryland and Southern New Jersey.

Timken has expanded its product offering to include a full-line of bearings and seals and has signed sales agencies toadvance the company's market penetration. (6/8/00 – PRNewswire)

REPORTS FIRST QUARTER RESULTS, SALES VOLUME INCREASES 4/30/00

On April 18, 2000, The Timken Company reported first quarter results.

Bearings Business Results:

New products in the marketplace, recovering North American industrial markets, modest strengthening in Asia andEurope and continued strong demand in North American automotive markets all combined to drive Bearings' net salesto a record level. Bearings first-quarter net sales were $470.4 million compared to $438.7 million one year ago.Earnings before interest and taxes (EBIT) also increased to their highest level since the first half of 1998. EBIT was$32.1 million, compared to $23.2 million in the 1999 first quarter. Bearings' results included $3.5 million in restructuringcharges primarily related to the consolidation of its distribution network in Europe, which was announced in January,and its realignment into global business units. (4/18/00 – PRNewswire)

ACCELERATES ACTIONS TO IMPROVE PROFITABILITY AND GROWTH 3/15/00

On March 2, 2000, The Timken Company announced an acceleration of its global restructuring to position the companyfor profitable growth, streamline operations, reduce costs and improve European profitability. This restructuring isexpected to save the company approximately U.S. $35 million annually before taxes by the end of 2001.Implementation, employee severance and non-cash impairment charges of U.S. $55 million before taxes are expectedover the next year. The excess global industry capacity and continued pricing pressure reinforce the need for change.

Over the past 18 months, Timken has closed manufacturing operations in Australia and refocused operations in SouthAfrica. These and other efforts resulted in reductions of nearly 1,700 positions. The restructuring announced today willfurther consolidate global operations and will eliminate 600 additional positions worldwide.

The company's bearing manufacturing facility in Duston, England will be refocused to specialize and fuel growth inadvanced automotive bearings, roller production and formed products, reflecting currently strong automotive demand.The restructuring is expected to reduce the Duston site workforce of approximately 1100 to about 800.

The Western European restructuring will increase manufacturing at lower cost facilities in Eastern Europe. Timken plantsin Poland and Romania will significantly expand production by the end of 2001. (3/2/00 - PRNewswire)

STRENGTHENS EUROPEAN DISTRIBUTION 1/31/99

On January 20, 2000, The Timken Company announced steps to improve significantly its ability to serve customers inEurope.

To improve their ability to provide products to customers on a timely basis, maximize inventory and safety stocks andstreamline shipping and transportation, Timken will transfer distribution activities from their existing facilities to a centralwarehouse operated by an external service provider, FDX Supply Chain Services (according to their web site, namehas been changed to FedEx Supply Chain Services) in Strasbourg, France.

During 2000, distribution activities will be moved from the existing warehousing and shipping facilities in Haan(Germany), Daventry (England), Les Ulis (France), Colmar (France) and Brescia (Italy) to Strasbourg (France). Thisinitiative is estimated to reduce employment at the facilities by approximately 60. The existing sales offices at all thelocations will continue providing service to customers. In the U.K., a smaller warehouse facility will be established toserve local requirements.

For the past 18 months, the company has been rationalizing operations worldwide. It has closed facilities and shiftedproduction among others to increase customer service and manufacturing efficiencies.

The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels withoperations in 25 countries. The company employs nearly 21,000 people worldwide and reported 1999 sales of $2.5billion. (1/20/00 – PRNewswire)

REPORTS PROFITABLE 1999 1/31/00

On January 20, 2000, The Timken Company reported that they maintained profitability in 1999 and offset longer-than-expected weaknesses in many markets and regions of the world. Although sales and earnings were down from a yearago, successful growth initiatives, ongoing rationalizations, and a strong automotive market keyed results.

Bearings Results: In Bearings, global industrial weakness lowered net sales for the year to $1.76 billion, down from1998's $1.8 billion. For the fourth quarter, sales were $446 million, compared to $450 million in the year-ago period.As a result of excess bearing industry capacity in Asia, there was downward pressure on prices.

Countering the strength in global automotive markets was the continued weakness in industrial, North American rail,aerospace and distribution markets. These weaknesses resulted in lower production levels and a less favorable productmix. These factors, along with substantial inventory reductions and exchange rate changes, contributed to weakerperformance in the company's European operations. (1/20/00 – PRNewswire)

REORGANIZES TO ACCELERATE GLOBAL GROWTH 11/30/99

On Nov. 18, 1999, Following a special meeting of its Board of Directors, The Timken Company announced that it willreorganize its businesses to sharpen market and customer focus and support the company's strategy for acceleratedglobal growth.

Reportedly, the reorganization will allow Timken to more rapidly pursue global growth strategy by aligning theirbusinesses with key industries worldwide. At the same time, Timken will strengthen customer focus, streamlineoperations and reduce costs

The reorganization will shift the operational focus from geographic regions to four global industry segments: automotive,industrial, aerospace and rail. (11/18/99 - PRNewswire)

INTRODUCES NEW AFTERMARKET PRODUCT PACKAGING 11/15/99

On November 10, 1999, The Timken Company introduced a new design for its aftermarket product packaging toaccommodate a growing global product offering. All Timken products will begin to be packaged in the same stylecarton as previously used but with new graphics. The transition will be completed by the end of 2000.

In recent years, the company has expanded its product offering with additional lines of tapered roller bearings, otheranti-friction bearings and related components. The new design is part of a larger system to create a family look toTimken's product offering that emphasizes the Timken brand and is more easily recognizable in the marketplace

The new design builds on the familiar elements of the previous packaging including the black and orange colorcombination and the prominent Timken logo. It now also offers a more modern look that can accommodate sub-branding. (11/10/99 - PRNewswire)

REPORTS THIRD QUARTER RESULTS 10/15/99

On October 18, 1999, Timken announced that persistent global market weakness and continuing soft demand forhigher margin products affected third quarter sales and earnings. While automotive markets were strong, industrial andenergy markets remained depressed. The third quarter normally is the weakest of the year, due to customer demandpatterns.

For the third quarter, net sales were $601.7 million, slightly below 1998's third quarter of $616.8 million. For the firstnine months of 1999, net sales were $1.863 billion, trailing the record $2.026 billion in 1998's corresponding period.

Third quarter net income totaled $12.4 million versus $13.6 million in the year-earlier period. For the first nine months,net income was $41.3 million, compared to $101.4 million a year ago. This disparity was due largely to a very strongfirst half in 1998.

Bearings Results: In Bearings, third quarter net sales were $423.7 million, up from $415.1 million in 1998's thirdquarter. For the first nine months, net sales were $1.314 billion, down slightly from $1.348 billion in 1998. Whilerailroad and industrial markets, including aerospace, were weak, automotive markets were strong. In the third quarter,European and Asia Pacific markets showed some signs of improvement from the low activity levels during the first halfof the year. 10/18/99 - PRNewswire)

SECOND QTR. AND YTD BEARINGS' RESULTS DOWN 7/31/99

On July 19, 1999, Timken reported second quarter and first half 1999 results. For their Bearings business, secondquarter net sales were $451.4 million, down from last year's $469.8 million. For the first half, sales were $890.2 million,compared to $932.6 million in 1998's corresponding period. Strong sales in North American automotive and truckmarkets have not been sufficient to entirely offset the ongoing weakness in industrial markets around the world. WhileAsia Pacific markets continue to show some strengthening, economic weakness persists in Europe and Latin America.

Lower sales volume and less efficient production levels, along with a less favorable product mix, were key factors inreducing performance. Simultaneously, Bearings moved aggressively on inventory levels, reducing them by more than 10percent. (7/19/99 - PRNewswire)

SECURES GRANT FROM THE U.S. DEPARTMENT OF ENERGY FOR THE DEVELOPMENT OF A NEWSTEEL GAUGING SYSTEM 7/15/99

The United States Department of Energy recently awarded a grant of $1.4 million to The Timken Company for thedevelopment of a new steel gauging system that will utilize laser technology to make the manufacturing process forseamless mechanical steel tubing more efficient. The grant will fund 60 percent of the total cost of the new technology,projected at $2.4 million.

The laser-based system measures the product to ensure that steel tubes are produced at near exact shape, eliminatingexcess material from the tube wall. The new technology will further enhance the world-leading quality of Timken steel byproducing tubing at even tighter tolerances and with a more uniform wall thickness. (6/30/99 - PRNewswire)

CLOSES DEAL TO BUY TISCO'S INTEREST IN TATA TIMKEN LIMITED IN INDIA 3/99

On March 15, 1999, The Timken Company completed the transaction to increase its stake in Tata Timken Limited, inJamshedpur, India, to 80 percent by acquiring the 40 percent stake held by The Tata Iron and Steel Company(TISCO) of India for 1.18 billion rupees (equivalent U.S. $27.8 million).

The plant makes tapered roller bearings for trucks, farm tractors and industrial applications. The operation alsoproduces AP cartridge bearings for rail applications. (3/15/99 - PRNewswire)

TO BUY TISCO'S INTEREST IN TATA TIMKEN LIMITED IN INDIA 2/99

On February 27, 1999, The Timken Company agreed to increase its stake in Tata Timken Limited, in Jamshedpur,India, to 80 percent by acquiring the 40 percent stake currently held by The Tata Iron and Steel Company (TISCO) ofIndia. The completion of the transaction is subject to final approvals from Indian government authorities.

Increasing Timken's ownership will broaden the venture's customer base and thus strengthen its position in bothdomestic Indian markets and Timken's worldwide markets. The investment is part of Timken's global strategy tocapitalize on core competencies to grow profitably and increase shareholder value.

Upon completion of the transaction and pending final government approval, Tata Timken will operate as Timken India, asubsidiary of The Timken Company. The Indian public will continue to hold the remaining 20 percent equity in theventure.

The Timken Company invested $48 million on research and development in 1998 with approximately three-fourths ofthat total being spent on bearing R&D. The formation of Timken Engineering and Research - India in Bangalore inOctober 1998 continued that commitment, bringing the company's technical resources closer to customers in that part ofthe world.

The agreement to create Tata Timken, The Timken Company's first joint venture, was signed in 1987. Productionstarted in the newly constructed Tata Timken plant in 1992. The operation uses cellular manufacturing, which providesthe flexibility to produce parts with short lead times. The plant currently makes single-row tapered roller bearings fortrucks, farm tractors and industrial applications. The operation also produces AP cartridge bearings for rail applications.

The Timken Company (http://www.timken.com) is a leading international manufacturer of highly engineered bearingsand alloy steels with operations in 25 countries. The company employs 21,000 people worldwide and reported 1998sales of more than U.S. $2.6 billion. (2/27/99 - PRNewswire)

BEARING BUSINESS RESULTS FOR 4TH QTR. AND 1998 1/99

In Timken's the Bearing Business, net sales for 1998 were $1.8 billion, a modest increase from 1997's $1.72 billion.For the fourth quarter, sales were $450 million, up slightly from $442.3 million in the year-earlier period. NorthAmerican markets for light and heavy trucks and locomotives and freight cars remained strong. However, U.S. marketsfor certain industrial products remained weak, and demand in Asia stayed at a low ebb.

Operating income for 1998 totaled $144 million compared to $156.3 million in 1997. For the fourth quarter, operatingincome was $21.4 million. Excluding the pre-tax expense, operating income would have been $40.4 million, same as inthe year-ago period.

In the fourth quarter, the company introduced the Timken IsoClass(TM) brand of metric tapered roller bearings. Thisproduct line gives the company a much stronger position in the metric market that accounts for nearly half of worldwidetapered roller bearing consumption.

Information on Timken is available via the internet, at http://www.timken.com/ (1/21/99 - PRNewswire)

INTRODUCES TIMKEN ISO CLASS METRIC BEARINGS 10/98

On October 2, 1998, The Timken Company introduced its new Timken(R) IsoClass(TM) line of metric 30000 seriestapered roller bearings at a special meeting with its authorized bearing distributors in Europe.

For decades, Timken has been the world leader in the manufacture of inch- based tapered roller bearings. While metric-sized bearings were an important part of its standard line, this new initiative is designed to make Timken an even moreformidable source of metric product.

Since 1996, Timken has invested $60 million in new plants and people, including facilities in Italy, Poland and eight othercountries, to support the IsoClass tapered roller bearing product line. The result is a selection of more than 170 partnumbers that cover the full spectrum of metric bearings, including both a line of flanged IsoClass bearings and acustomized line of IsoClass bearings to facilitate modifications to meet special application requirements.

Timken has also invested more than a half million hours in developing new designs and performance testing. Reportedly,every IsoClass bearing, no matter where in the world it is manufactured, meets Timken's stringent worldwide qualityrequirements.

Although the United States market largely uses inch-based bearings, nearly half the world's tapered roller bearingmarket is metric. Today's product launch will be followed with events in the US, Asia and Latin America to mark theproduct's worldwide debut.

The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels. Thecompany employs 21,000 people worldwide and reported 1997 sales of more than U.S. $2.6 billion. (10/2/98 -PRNewswire)

REFOCUS IN AUSTRALIA WITH GREATER EMPHASIS ON SALES AND MARKETING 9/98

On September 15, 1998, as part of its ongoing initiative to increase both productivity and margins, The TimkenCompany announced that Australian Timken Proprietary Limited will focus its resources on sales and service, and thatthe company's bearing manufacturing operations in Ballarat will close.

The Ballarat plant will cease the majority of its manufacturing operations during the next three months. Approximately180 of the 230 employees at Australian Timken will be directly affected. The distribution warehouse in Ballarat,remanufacturing operations and sales offices, located in five cities around the country, will continue to operate as integralparts of the company.

According to Timken, demand for automotive products in Australia has been declining and customer demands in recentyears have changed substantially for key product segments. Although we were able to slow the rate of decline in thepast by developing export markets in areas such as Korea and Japan, future prospects and the current economicclimate have adversely and significantly affected this business.

Timken claims they can more efficiently supply the Australian market from their existing international operations andachieve greater utilization of corporate capacity worldwide to serve expanding international tapered roller bearingmarkets.

The company expects to book a $5 million to $7 million pre-tax charge in the fourth quarter as a result of this action.Cash savings generated are expected to offset the cash costs over the next two years.

Since 1990, Timken Company sales have increased more than 50 percent and earnings have more than tripled.Changing conditions, however, in the second half of 1998 are precluding their meeting internal and external performanceexpectations.

The Timken Company (www.timken.com) is a leading international manufacturer of highly engineered bearings and alloysteels. The company employs 21,000 people worldwide and reported 1997 sales of $2.6 billion. (9/15/98 -PRNewswire)

COMMISSIONS NEW ROLLING MILL 8/98

On August 10, 1998, The Timken Company commissioned a new $55 million rolling mill in ceremonies at its HarrisonSteel Plant in Canton.

To accommodate the new rolling mill and other processing equipment, the company added about 120,000 square feetto the Harrison Steel Plant. The new mill will produce steel with better size and straightness characteristics and bettersurface quality. Improvements in the cooling beds will result in fewer variations in hardness and microstructure, leadingto easier and better machinability.

The expansion is said to be a vital part of Timken's long-term growth strategy. Upgrading the bar and billet process atthe Harrison Steel Plant began in 1992 with the installation of a $47 million continuous caster and an $11 million state-of-the-art inspection line.

The Harrison Steel Plant produces 1-7/8" to 6" rounds and 3" to 5-1/2" round-cornered squares. The new mill'scapacity is 700,000 tons per year, 25 percent higher than previous capacity. Roughly one-half the plant's bar output isused by The Timken Company's tubing manufacturing operations to produce seamless mechanical tubing for bearingraces and other commercial applications. The remaining one-half is primarily alloy bars sold for critical engineeringapplications.

The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels. Thecompany employs about 21,000 associates worldwide and reported 1997 sales of more than $2.6 billion. (8/10/98 -PRNewswire)

AWARDED AUTOMOTIVE INDUSTRIES QUEST FOR EXCELLENCE AWARD 7/98

The Timken Company was recently named as recipient of Automotive Industries' first annual Quest for Excellenceaward. Timken was the top-ranked company in the bearing category receiving the highest overall average. Another 67companies were recognized in 19 different categories.

Automotive Industries, with a circulation of 104,000, is published monthly by Cahners Business Information. Themagazine's editorial focuses on the domestic and international original equipment vehicle industry.

The awards were a result of the study of 1,800 Automotive Industries readers involved in design, engineering,manufacturing, purchasing and management who rated the suppliers they use on a regular basis. Each participant rankedsupplier companies in five areas: quality -- consistently meets or exceeds customer's standards; price -- meets orexceeds the target pricing requirements; innovation -- suggests innovative concepts and solutions; delivery -- providesconsistent, dependable delivery of materials, and service -- responds quickly and effectively to customer requests. If asupplier was not mentioned by enough Automotive Industries readers, then they were not eligible for the awardregardless of the score attained.

The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels. Thecompany employs 21,000 people worldwide and reported 1997 sales of more than U.S. $2.6 billion. (7/30/98 -PRNewswire)

1997 BEARING BUSINESS REVIEW 2/98

During 1997, the Bearing Business grew through expansions, the launch of new products and services, and acquisitions.More than $80 million will be invested over the next five years in new bearing technology for the Asheboro, NorthCarolina, Bucyrus, Ohio, and Gaffney, South Carolina plants. Acquisitions during the year included bearingmanufacturing and service operations in Italy, Romania, the United Kingdom and the United States. The company alsoannounced that it was expanding its railroad reconditioning capabilities internationally, with initial focus in Great Britainand Mexico. In the fourth quarter, the Business also sold property connected with a previous plant closing in the UnitedKingdom, which positively affected other income.

Net sales for 1997 were $1.719 billion, up 7.6 percent from $1.598 billion in 1996. The increase was fueled by strongNorth American sales, particularly to light truck, heavy truck and industrial original equipment manufacturers.

Also contributing to the record year were strong demand for value-added sensor bearings for light trucks, and othernewly introduced products such as a line of automotive bearings and related components for the do-it-yourselfaftermarket; increases in the sale of aerospace bearings; additional export sales to Latin America; sales contributionsfrom recently acquired businesses, and a general strengthening of sales to European manufacturers. Sales in the AsiaPacific markets, still a small part of the company's total operations, weakened significantly toward year end due to thesevere economic problems the area is experiencing.

For 1997, operating income in the Bearing Business grew to $163.3 million, an increase of 5.2 percent from $155.2million in 1996. Higher sales volume and manufacturing cost reductions resulting from ongoing continuous improvementinitiatives contributed to the growth in profits. Three factors dampened profitability: an inventory write-down related tothe 1997 physical inventory, compared to a write-up in the year-earlier period; costs associated with integrating newacquisitions, and higher product costs associated with the exceptional levels of customer demand. These factors areexpected to have a smaller impact in 1998. (1/21/98 - PRNewswire)

ACQUIRES ROMANIAN BEARING MAKER 12/97

On December 17, 1997, the Timken Company signed a definitive agreement to acquire a bearing manufacturer inRomania. Rulmenti Grei S.A., located 40 miles (60 km) north of Bucharest in Ploesti, produces bearings used in a widerange of industrial applications, including steel and aluminum rolling mills, paper mills, marine systems, and oil and gasproduction. In addition to serving customers in Romania, Rulmenti Grei S.A. exports to customers in Eastern andWestern Europe, Asia and North America.

Rulmenti Grei S.A. has been 70 percent owned by Romania's State Ownership Fund and 30 percent by privateinvestment groups and individuals. Timken is paying $37 million for the 70 percent owned by the government.However, Romania's privatization process returns 60 percent of the purchase price back into the development of thefirm.

Timken plans to strengthen Rulmenti Grei by introducing advanced technology and manufacturing processes. Over thenext five years, Timken will match the Romanian privatization reinvestment in the enterprise to establish Ploesti as amajor technical center for the design and manufacture of bearings for industrial applications. The output will besubstantially above the current level.

Rulmenti Grei was built in 1979 and employs some 1,000 people. It manufactures over 1,200 types and sizes ofbearings, including tapered, cylindrical, spherical and ball bearings. The Timken Company employs some 19,000people worldwide and reported 1996 sales of more than $2.4 billion. (12/17/97 - PRNewswire)

BREAKS GROUND FOR NEW ROLLING MILL IN CANTON, OHIO 4/97

On April 8, 1997, Timken held a groundbreaking ceremony for a new rolling mill at its Harrison Steel Plant located inCanton, Ohio. This mill is part of a $55 million investment that also includes bar processing equipment. Of the plant'sbar output, roughly one-half is used by Timken's tubing manufacturing operations to produce seamless mechanical tubingfor bearing races and other commercial applications. The remaining one-half is primarily alloy bars sold for criticalengineering applications. The mill is expected to be fully operational by mid-1998.

The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels. Thecompany employs some 19,000 associates worldwide and reported 1996 sales of about $2.4 billion. (4/8/97 - PRNewswire)

COMPLETES ACQUISITION OF GNUTTI CARLO SPA 2/97

The Timken Company today (2/21/97) completed the acquisition of Gnutti Carlo S.p.A., a European manufacturer oftapered roller bearings located near Brescia in Northern Italy.

The business will be operated by Timken Italia, S.r.l., a Timken Company subsidiary. The Italian plant, established in1922, serves primarily the European truck, railroad and industrial markets. Its bearing sales in 1996 approached $20million.

This facility in Italy will complement existing Timken plants in England, France and Poland and enable Timken to offer abroader range of tapered roller bearing products. Timken Italia also operates an engineering and sales office in Milan.(2/21/97 - PR Newswire)

OCTOBER 1996, TIMKEN ANNOUNCES $30M EXPANSION AND NEW FACILITY PLANS 1/97

On October 14, 1996, Timken Co. reported it plans to invest $30 million to expand its steel manufacturing capabilityand increase its product lines. The investments include a $15 million profile ring mill in Columbus, North Carolina, thatwill produce shaped rings for the bearing industry.

The company said it will also build a $15 million hot-forming facility to make forged bearing components from Timkensteel bars. A site for the facility has not been found, as of this date. (10/14/96 - Reuters News Release)

TIMKEN CLOSE TO DEAL FOR ITALIAN COMPANY, GNUTTI CARLO SPA 1/97

According to an October 18, 1996, news release, Timken Co. said it was close to completing negotiations to acquirethe tapered rolling bearing business of the Italian company Gnutti Carlo SPA. Gnutti Carlo's bearing business servesprimarily the truck, railroad and construction equipment markets. Reportedly, Gnutti's 1995 sales for the bearingbusiness approached $25 million. Gnutti Carlo is located near Brescia in northern Italy. (10/18/96 - Reuter NewsRelease)

TO OPEN DESIGN AND SALES CENTER IN BEIJING, CHINA 1/97

On November 25, 1996, Timken announced that it was opening a product design and sales center in Beijing, China, as

part of its strategy to serve an increasingly important region.

According to Timken, China represents a truly significant market, one they think they are particularly well-suited toserve. The new Beijing facility, coupled with their recently announced joint venture in China, are two central elements oftheir strategy to expand the delivery of Timken products and services in the Pacific Rim region.

With a design and sales team located in Beijing, Timken foresees a significant increase in business in this rapidly growingregion. Reportedly, this new office will enable Timken to better identify the needs of customers and distributors in Chinaand to serve them in a more complete and timely manner. (11/25/96 - PR Newswire)

JOINT VENTURE IN CHINA 6/96

The Timken Company, Canton, Ohio, recently entered into a joint venture to produce bearings in China. Timken andShandong Yantai Bearing Factory will combine to form the new company. (7/96 - OEM Off-Highway Magazine)

NEW GROUPS ESTABLISHED TO STRENGTHEN SALES AND MARKETING EFFORTS 5/96

The Timken Company established a new Automotive Business Group to further strengthen its sales and marketingefforts among manufacturers, automotive wholesalers and heavy-duty distributors.

Reportedly, Timken sees an opportunity to contribute significantly to higher performance for its customers by integratingmanufacturing, marketing and distribution under one organization. "Furthermore, the consolidation of our sales andmarketing efforts from original equipment manufacturers, their service businesses and automotive and heavy-dutydistributors will allow us to focus on the entire spectrum of the automotive marketplace." (5/96 - Truck Parts & ServiceMagazine)

Timken has also established an Industrial Business Group to strengthen its sales and marketing efforts with originalequipment manufactures and aftermarket distribution. (5/96 - Today's Distribution Magazine)

ACQUIRES POLISH MANUFACTURER OF TAPERED ROLLER BEARINGS 2/96

Timken announced it will acquire the assets of the tapered roller bearing business of FLT Prema Milmet S.A. based inSosnowiec, Poland.

FLT Prema Milmet S.A. is located 200 miles (300 km) south of Warsaw, Poland. Its bearing division employs 800and had sales of about $17 million in 1995. Another source claimed sales were $12-15 million per year. Bearingsproduced at the facility are used in applications that include automotive, agricultural equipment, and industrial machinery.Timken is counting on supplying Polish-made bearings to Fiat, General Motors, and Daewoo in Poland as it is doing inother markets.

Timken is paying $12.5 million for the plant, has agreed to invest $10 million in it over the next few years, and is tospend an additional $1 million on environmental protection. The acquisition provides accelerated growth opportunitiesin the markets of central Europe. After completion, the new company will be called Timken Poland Ltd. and will be awholly owned subsidiary of The Timken Company. (Jan./Feb., 1996 - Various News Releases)

RECEIVES 1994 SHINGO PRIZE 7/94

Timken received the 1994 Shingo Prize for its bearing plant in Gaffney, SC. The award recognizes achievement inmanufacturing processes, quality enhancement, improved productivity, and customer satisfaction. (7/94 - OEM Off-Highway Magazine)

ONE BILLION DOLLAR CAPITAL EXPANSION PROGRAM PLANNED 4/92

Despite a very rough year in 1991, Timken is going forward with its aggressive, worldwide, $1 billion dollar capitalexpansion program. Since European customers can't be served efficiently by exports from the U.S., for example,Timken recently selected a site in Germany for a new, $40 million dollar plant which would expand its offerings in theindustrial (non-automotive) bearings market. (4/10/92 - Value Line Report)

TO SCALE BACK CAPITAL SPENDING PLANS 7/91

In recognition of current economic realities, Timken's aggressive capital spending plans ($1 billion over the next fewyears) will probably be scaled back by 10% to 20% this year, particularly in troubled Brazil. (7/12/91 - Value LineReport)

ONE BILLION DOLLARS CAPITAL INVESTMENT PROGRAM UPDATE 4/91

In our 10/90 report, we indicated Timken would build a $23M bearing plant in Virginia as a part of their billion dollarcapital investment program.

Timken has now committed about half of the $1 billion it plans to spend over the next few years to expand and improveits production facilities. The latest announcement revealed plans to spend $200M for two new bearings plants, one inNorth Carolina and another at a European sight, yet to be selected, with a 1993 start-up in view. (4/12/91 - Value LineReport)

TITAN INTERNATIONAL INC.October 15, 199933LN

INTERNET: http://www.titan-intl.com

COMPETITIVE TYPE: ManufacturerMAJOR PRODUCT CLASSES: DT (Wheels, Rims)

LOCATIONS:

Headquarters - Quincy, Illinois2701 Spruce Street

North American Manufacturing Facilities:

- Titan Tire Corporation, Des Moines, Iowa- Titan Tire Corporation of Tennessee, Clinton, Tennessee- Titan Tire Corporation of Texas, Brownsville, Texas

- Titan Wheel Corporation of Illinois, Quincy and East Peoria, Illinois- Titan Wheel Corporation of Iowa, Walcott, Iowa- Titan Wheel Corporation of Ohio, Warren, Ohio- Titan Wheel Corporation of South Carolina, Greenwood, Souith Carolina- Titan Wheel Corporation of Virginia, Saltville, Virginia- Titan Wheel Corporation of Wiscionsin, Slinger, Wisconsin

International Manufacturing Facilities:

- Titan France SA, St. Georges des Groseillers, France- Titan Germany GmbH, Hannover, Germany- Titan Siria SpA, Modena, Italy- Titan Sirmac SpA, Bologna, Italy- Titan Steel Wheels, Ltd., Kidderminster, England

Distribution Centers:

- Augusta, Georgia - Caldwell, Idaho- Cartersville, Georgia - Chambersburg, Pennsylvania- Des Moines, Iowa - Dublin, Georgia- Elkhart, Indiana - Elko, Nevada- Grand Prairie, Texas - Lubbock, Texas- Ontario, California - Tampa, Flodida- Jesi, Italy - Merseyside, England

EMPLOYMENT:

Dec 1997 - 4,200 in USA and Europe

SALES:

Fiscal year ends December 31) Information from Annual Reports. (000s)----

1994 1995 1996 1997

Agricultural $156,015 $275,976 $307,734 $357,533Consumer 140,073 170,717 152,775 155,519Earthmoving/Construction 75,555 133,523 145,765 164,636Engineered Products 22,511 38,920 21,687 5,664Military 12,846 4,047 6,592 6,779

Total $407,000 $623,183 $634,553 $690,131----

Total sales for the first six months of 1998 are $368,644,000, compared to $367,568,000 for 1997. (Titan 1998 SecondQtr. Report)

----Titan's ten largest customers accounted for 45% of 1997 net sales, compared to 42% in 1996. In 1997 Deere accountedfor 16% of Titan's net sales. (10K Report)

HISTORY:

1890 - Business started in Quincy, IL as Electric Wheel Company.1993 - Enters tire market.1999 - On August 4, 1999, Carlisle Companies Incorporated and Titan International, Inc. jointly announced that

the two companies have entered into a letter of intent providing for the merger of Titan into CarlisleCompanies in a transaction valued at approximately $600 million including the assumption of debt. (8/4/99– PRNewswire)

- On September 20, 1999, Carlisle Companies Incorporated and Titan International, Inc. agreed not to extendthe Letter of Intent providing for the merger of Titan into Carlisle. The Letter of Intent expired onSeptember 18, 1999.

The initial announcement of the Letter of Intent was made on August 4, 1999. Carlisle and Titan wereunable to complete the actions necessary to reach a definitive merger agreement within the 45-day timeperiod provided for in the Letter of Intent. No continued discussions are anticipated. (9/20/99 - BusinessWire)

- On October 11, 1999, in response to the growing demand for LSW wheel and tire assemblies (larger wheellower sidewall tire), Titan International, Inc. announced a strategic realignment of its North Americancorporate and management structure by combining its wheel and tire production into one operating entity.

"Titan was a pioneer in demonstrating the benefits of mounted assemblies to the entire marketplace, butother companies have also positioned themselves in the conventional assembly niche. The reorganizationwill enable Titan to focus on a three-facet approach -- promoting our LSW wheel and tire assemblies,

combining our business units into one cohesive group, and introducing a series of e-commerce initiatives,which we will announce in detail at a later date," stated Maurice Taylor Jr., president and CEO of TitanInternational, Inc. "The strategy I'm setting is this: out perform the competitors with the innovativeLSW assemblies, emphasize our traditional strength as a supplier of both wheels and tires and re-engineerour company so we can react faster, be more cost-efficient and closer to the needs of our customers."

Titan's corporate realignment will include sales, accounting, customer service, and top management. Allbusiness components will be organized under one Titan corporate structure led by Taylor. (10/11/99 –PRNewswire)

----This company has been involved in many accusitions, mergers and name changes over the years. For detail, see theHeritage section of Titan's Internet site.

PRODUCTS:

Titan is comprised of four major product groups:

Earthmoving/Construction Equipment - The earthmoving/construction sector consists of wheels and tires formachinery used in both construction and mining industries, including graders and levelers, scrapers, self-propelledshovel loaders, loader transporters and haul trucks. These wheels and rims range in diameter from 20" to 57" (largestmanufactured in North America), in width from 8" to 44", and in weight from 125 pounds to 6,300 pounds.

Agricultural Equipment - The agricultural equipment group consists of wheels and tires for machinery used by thecommercial farming sector, including tractors, combines, crop handling equipment and tillage, soil preparation andplanting and harvesting machinery.

Military Components - The military products group includes wheels, rims, tires and components for government useon trucks, tanks and personnel carriers.

Consumer Products - The consumer products group includes wheels, tires and brake assemblies for ATV's, boat andutility trailers, golf cars, lawn and garden tractors and specialty automotive wheels.

Additional detail for each of the above groups is available via Titan's Internet site. (9/98 - Internet)



Titan's primary markets include agriculture, consumer, earthmoving/construction, and military applications. Titansupplies OEMs in the construction, earthmoving and mining industries, including manufacturers like Caterpillar,Komatsu, Champion, and Grove. (9/98 - Internet)

PRICING:

No pricing information available in Pricing & Market Research's CIS or CPR systems. (9/98)

MARKETING:

Titan's Trade Show Schedule is on their Internet site. (9/98)


GENERAL:

Work forces are unionized. (9/98)----

Major competitors in the wheel markets include GKN Wheels, Ltd. and Topy Industry, Ltd. Major competitors inthe tire market are Goodyear Tire & Rubber Co. and Bridgestone-Firestone. (12/31/97 - 10K Report)


Business strategy is to increase its penetration of the after-market for tires and wheels, expand its presence inEuropean and other global markets, focus on additional strategic acquisitions, continue to improve its operatingefficiencies and continue its empasis on new product development. (12/31/97 - 10K Report)

----Titan competes primarily on the basis of price, quality, customer service, design capacity, delivery time and theadded value of a wheel and tire assembly. (12/31/97 - 10K Report)

ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST D&B: NoneDUNS:SIC/DESCRIPTIONS:LAST PROFILE REVIEW/UPDATE: October 15, 1999

TORRINGTON CO. - NEWSJuly 31, 199922AJNEWS

http://www.torrington.com

SECOND QTR. 1999 BEARINGS SALES DOWN 7/31/99

July 22, 1999, Ingersoll-Rand Company reported second quarter 1999 results.

The Engineered Products Segment includes Torrington and Fafnir bearings and components. Bearings andcomponents sales were down slightly because of continued weakness in industrial bearings. Operating income andmargins improved because of strong sales from the needle bearings business. (7/22/99 - Business Wire)

TRACTOAMERICA - NEWSSeptember 15, 199957PFNEWS

http://www.tractoamerica.com/

OFFERING UP TO 5% REBATE FOR 7/16 - 8/31 PURCHASES, TO BE CREDITED TO SEPT. AND OCT.PURCHASES 9/15/99

From July 16, 1999 to August 31, 1999, TractoAmerica will give up to a 5% rebate on purchases. This rebate can be usedagainst orders for September and October 1999.

- On the first US$ 25,000 purchased, customer will earn 2%.- From US$ 25,001 up to US$ 50,000, earn 3%.- From US$ 50,001 up to US$ 100,000, earn 4%.- Purchase more than US$ 100,001, earn 5%

Rebates can be used during the months of September and October 1999 to buy Original Replacement Parts for Caterpillar inTractoAmerica’s warehouse with the exception of Berco undercarriage.

Restrictions:

- Prizes are non-transferable.- Prizes can only be utilized during September and October 1999.- The prize can be used to pay up to 50% of purchases (except for Berco Undercarriage).- In order to take advantage of this promotion, account should be completely up to date with no overdue balances.

(TractoAmerica, Web Site)

TRACTOAMERICA INC.May 6, 199857PF

INTERNET: http://www.tractoamerica.com



LOCATIONS:

Headquarters -

Miami, Florida USA

Rents 20,500 sq. ft. in 1-story concrete block building in good condition. Premises neat. Industrial section on mainstreet.

Branch -

The company owns an 8,000 sq. ft. facility on a two-acre track, at 8130 NW 58 Street, Miami, FL. Utilized forstorage and maintenance.

Affiliates -

- Tractopartes SA. Ciudad Guatemala, Guatemala. Started 1988. Distributor of industrial equipment.

- Tractosal, SA. San Salvador, El Salvador. Started 1989. Distributor of industrial equipment.

- Tractonica SA. Managua, Nicaragua. Started 1989. Distributor of industrial equipment.

- Tractoamerica de Panama, S.A., Panama City, Panama. Started 1993. Distributor of industrial equipment.(Formerly named Partrac, S.A.)

Intercompany relations consist of sales on regular terms. (2/98 - D&B)----

Listed on 4/97 D&B, but not on 2/98 report:

- Tractoamerica of Costa Rica, SA. San Jose, Costa Rica. Started 1983. Distributor of industrial equipment.

EMPLOYMENT:

Oct 1986 - 15 (9/87 - D&B)Apr 1993 - 28 (25 at headquarters) (8/93 - D&B)Oct 1993 - 28 (25 at headquarters) (3/94 - D&B)Dec 1994 - 36 (32 at headquarters) (12/95 - D&B)Nov 1996 - 36 (32 at headquarters) (4/97 - D&B)Feb 1998 - 30 (29 at headquarters) (2/98 - D&B)

SALES:

Fiscal year ends August 31.----

Year Sales Net Profit Worth==== ==== ======= =====1982 = $2,171,284 -- -- (9/87 - D&B)1984 = $1,170,514 -- -- (9/87 - D&B)1985 = $1,885,450 -- -- (9/87 - D&B)1986 = $2,622,142 -- -- (9/87 - D&B)1990 = $4,361,867 $ 77,166 $ 984,920 (8/93 - D&B)1991 = $6,527,754 $ 62,370 $1,047,288 (3/94 - D&B)1992 = $8,349,194 $ 74,616 $1,121,904 (3/94 - D&B)1993 = $7,576,843 $313,284 $1,435,188 (3/94 - D&B)1994 = $9,118,256 $406,025 $1,643,097 (4/95 - D&B)1995 = $6,904,878 $ 11,780 $1,329,517 (12/95 - D&B)1996 = $6,806,989 $ 59,129 $1,388,646 (4/97 - D&B)1997 = $9,050,342 $137,679 $1,526,325 (2/98 - D&B)

----1997 - CACo's Parts & Service Business Departments analysis of financial data is available in Pricing & Market

Research's Competitive Information Library, AH9510.

1993 - Lower sales attributed to a volume reduction in low profit margin items such as generator sets and usedequipment. A net sales increase in parts sales which is the core of the business and most profitablesegment resulted in increased profits. Management expects this trend to continue. (3/94 - D&B)

1992 - Increased sales in 1992 are due to growth and expansion, particularly in the international markets. (8/93 -D&B)

HISTORY:

From 1958-1980 Roger Teran Sr. was president of Cateran Ltd., Managua, Nicaragua

1979 - Business started by Roger Teran Sr.1987 - December, changed name from TransAmerican Tractor Parts Inc. to Tractoamerica Inc. (8/93 - D&B)1992 - Became Berco dealer for the Central American countries, with 16 distributors in Dominican Republic,

Guatemala, El Salvador, Panama, Honduras, and Nicaragua. (4/97 - Berco News)

PRODUCTS:

Specializes in wholesale and distribution of replacement parts for Caterpillar, Komatsu, and John Deere. (4/98 -Internet)

----

Based on information on the Internet, 6/5/97 (http://miamigate.com), Tractoamerica offers the following brands andclaims over 12,000 items in stock for immediate delivery:

Brand Product===== =======

- Berco Undercarriage- "Bulldog" Gasket Kits & Seals

(Tradename for Heavy Equipment Parts Co.)- AE Clevite Engine Parts- Bucyrus Blades Cutting Edges- Federal Mogul (Bower) Tapered & Roller Bearings- Delco Remy Electrical Components- Dayco V-Belts

----Wholesale distributor of industrial supplies, specializing in construction, mining, and agricultural supplies (70%); alsowholesales construction equipment (30%). (2/98 - D&B)

----Engine Cylinder Repair Kits - Tractoamerica and its dealers are promoting engine cylinder repair kits for Caterpillarengines at significant discounts:

3200 Series 44% off3300 Series 24-45% off3400 Series 23-45% off

It appears that the parts are "will fits" supplied from either Clevite or IPD. While Tractoamerica quotes Clevite asbeing a supplier to Caterpillar and the other engine OEMs, Clevite has been dropped by Caterpillar some time ago andonly supplies a very few part numbers to Corinth for rebuilding noncurrent 3208s.

Tracto System - Tractoamerica continues to promote its "Tracto System," which they describe as "El mejor sistemapara comprar repuestos con eficiencia y a mejores precios." A recent article in C y C talks about the system beingused by La Romana and the Mexican contractor ICA, both working in the Dominican Republic.

Hydraulics merchandising - a recent message states that one of Tractoamerica's and their dealers' priorities are themaintenance of Caterpillar equipment working at the lowest cost possible by offering hydraulic system maintenance.Their prices are 20-30% below the original product price without sacrificing quality. (12/95 - BMThomas, CACo.)

----Competitive Parts Reports (CPRs), submitted by Cat dealers state Tractoamerica offers the following brands:

- Berco, U/C - IPD- Intertractor, U/C - Genuine Caterpillar- Ghinassi - FP Phillips Gasket- NTN-Bower Corp. - National (1/96)

----A Tractoamerica brochure received November 12, 1992 indicates they offer the following brands for Caterpillar,Cummins, Detroit Diesel, John Deere, Komatsu (and others) applications:

- AE Clevite - Federal Mogul- Miba - AC-Delco- Fel-Pro - Intertractor

----Based on a picture in one of their brochures, some parts are packaged in Tractoamerica boxes. (8/93)

----Tractoamerica reportedly purchases new Deere engines and gen sets directly from Deere's Engine Division, Moline,IL. Also, obtain new engines from Isuzo, Perkins, and Komatsu. (10/91 - MWVasquez)

----


Refer to Competitive Test Reports (CTRs) and Parts Competitive Bulletins (PCBs) on the brands carried byTractoamerica.

MARKETING:

Campo y Construccion - Tractoamerica's dealer/customer magazine, Campo y Construccion, while nicely done, hasgone from being distributed every two months in early 1994 to every four months in late 1994 and 1995. Probablydue to pressures from Caterpillar through the Patent Department, negative references to Caterpillar no longer appear.(12/95 - BMThomas, CACo.)

----Produces brochures in English and Spanish languages. (8/93)

PRODUCT SUPPORT:

Tractoamerica has one track press in each of the following countries.

- Guatemala - Nicaragua- Honduras - Costa Rica (4/97 - Berco News)

WARRANTY:

Warranty - "Tractoamerica warrants the spare parts it distributes to be free from defect in material and workmanshipunder normal use and service for 180 days or 1,800 hours or 50,000 miles of operation, whichever shall occur first.Except for all undercarriage components manufactured by Intertractor and distributed by Tractoamerica in which caseare warranted to be free from defect in material and workmanship for a period of one year or 1,500 hours whichever

occurs first, from the date of installation.

The responsibility of Tractoamerica is limited to repairing, or at its option replacing said part that upon examination isdetermined by Tractoamerica to have been defective. Failures other than those resulting from defects in material orworkmanship, which are solely a consequence of owner abuse and/or inadequate maintenance are not covered underthis warranty.

There are no warranties, expressed or implied, including warranties of merchantability or fitness for a particularpurpose by Tractoamerica except the warranty against defect in material and workmanship. This warranty does notcover any incidental or consequential damages, nor can Tractoamerica be held responsible for downtime expenses,transportation expenses, or any business costs or losses resulting from a warrantable failure." (10/88 - Parts Catalog)

PRICING:

Some additional information in PRODUCTS section.----

Terms are net 30-60-90 days, cash, letters of credit and sight drafts. (2/98 - D&B)----

Parts Pricing (P&MR) Dept. has a price list covering 2,389 part numbers, effective March 1, 1989 in their CIS system.(2/98)

----As of 4/98, no transaction level price observations are in the Competitive Parts Report (CPR) portion of PMIS.

----The following information is from P&SM's Competitive Parts Report (CPR) system as of 8/93. Comparingcompetitor transaction price as a percent of Cat dealer transaction price for the latest 8 qtrs. The numbers inparenthesis are the number of observations.

NACD CACO

U/C Total 88% (5) --ENG Total 62% (1) 104% (6)GET Total -- 118% (5)DT Total -- 113% (1)HYD Total -- 110% (10)GEN Total -- 146% (5)OTH Total -- 90% (1)

Sub. Total 77% (6) 112% (28)

Tot. Dlr. Trn. $10,098 $1,092

Kelly Tractor is the only NACD dealer reporting. Massy, Mayatrac and Venequip are the CACO dealers reporting.(8/93)

----


Sells to exporters, contractors, developers, farming and mining concerns. Territory is South Florida, Latin America,Europe, and the Caribbean. (2/98 - D&B)

----Inventory values as of August 31:

1994 - $1,887,045 (12/95 - D&B)1995 - $1,658,824 (4/97 - D&B)1996 - $1,511,269 (4/97 - D&B)1997 - $2,448,190 (2/98 - D&B)

----Puerto Rico - Rimco's largest customer, Las Piedras Construction, owns "Piezas Extra" who carries Tractoamericaproduct. LPC is also partial owner of the Komatsu dealer in Puerto Rico.

Costa Rica - Matra advises that Tractoamerica has named the Komatsu dealer, Agromec S.P. as their dealer for theCaterpillar only will fit parts. (4/95 - Breck Thomas, CACo.)

----They have a strong presence in Colombia, Dominican Republic and are planning to open branch stores in Ecuador.(8/93 - Dave Allan, CACO)

GENERAL:

Added to Caterpillar Export Services (CES) Reseller List on July 9, 1990. (4/95)----

As of 1995, Tractoamerica is still a member of the Independent Distributors Association (IDA). (1995 MembershipRoster)

----Ownership is as follows: (2/98 - D&B)

- 50% Roger Teran Sr. - Chairman of the Board, President- 11% Roger F. Teran - Was president per 4/95 D&B- 9% Nelda Teran - Vice President, wife of Roger Teran Sr. (Not active here)- 6% Carlos Teran - Vice President, Secretary- 6% Alejandro Teran - Vice President, son of chairman- 18% Owned by three other Teran children, not active here

----Some of the information in P&SM's Competitive Information Library (CIL) has not been interpreted, as it is inSpanish. (8/93)


Tractoamerica's mission is to provide its customers with optimum quality replacement parts, in the shortest period oftime, at the most competitive prices. (4/98 - Internet)

ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Financial condition fair. (2/98 - D&B)

LAST D&B: February 25, 1998DUNS (D&B NUMBER): 09-906-6367

SIC (CODES):50 85 = Wholesale Trade, Industrial Supplies50 82 = Wholesale Trade, Construction and Mining Machinery and Equipment

LAST PROFILE REVIEW/UPDATE: May 6, 1998

TRADEWATER MACHINERYJuly 13, 200053BW

INTERNET: http://www.tradewatermachinery.com/

COMPETITIVE TYPE: Rebuilder

MAJOR PRODUCT CLASSES: EngineDrive Train

LOCATIONS:

Eddyville, KYHighway 62, 42038

EMPLOYMENT:

1986 - 8 (Roger Joyce, owner)

SALES:

1986 - $1,070,000

HISTORY:

1980 - Year started

PRODUCTS:

Specializing in rebuilt components for Cat machines. (7/00)----

“Tradewater Machinery carries one of the nation's largest inventories of used parts for Cat equipment. Our $2 milliondollar inventory of rebuilt engines, transmissions, and torque converters allows us to offer immediate delivery on mostorders, saving you thousands of dollars in down time.

The following is a partial list of transmissions that we normally have in stock. These are transmissions only. Pleasecall us to check on the availability of other components.” (7/00 – seehttp://www.ziggycom.net/business/trade/twminven.htm)

----This company operates as a rebuilder of diesel engines, transmissions, torque converters, final drives, and attachments(90%), and as a used machinery dealer with sales to dealers and end users throughout the U.S. (“whoever calls on thephone”).

Ten mechanics are active rebuilding about five transmissions and three engines weekly. A new rebuilding facility wasopened four months ago.

"We also sell lots of blades, wenches, grippers, etc. but 90% of our business is rebuilding. (1988)

PRODUCT FEATURES:QUALITY:DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

“On any in-stock component, we will normally delivery on a next day basis. Even if the component is not ready toship when you call, we will ususally delivery within 2 days.

In most cases, orders will be delivered via one of our own trucks right to your dock. If we can't deliver to youpersonally, we will use a reliable and efficient shipping compnay to expedite your order.” (7/00 -http://www.ziggycom.net/business/trade/twmdeliv.htm)

----"We belong to two networks (Peed and Allied), and most of our dealer contacts have been made through thesenetworks." Customers include Marcel Equipment and Union Tractor in Canada.

PRICING:

While a price list is not available, Joyce tries to maintain a 50 to 65% discount off CAT list:

Examples:

D8L Transmission $20,000D9H Transmission 7,500 exchangeD9H Transmission 10,000 outright988B Transmission 12,500 outright

"It's important to have a good stock of cores in our business, and we're close to accomplishing that. Any cores fromcrawler tractors are of interest to me, and the price would be $1,000 to $3,500. Because of the flexibility of the 3306,we're interested in blocks and transmissions from those." (1988)


WARRANTY:

6 Month Warranty on Transmissions and Torque Converters:

Tradewater Machinery warrants that the transmission and torque converter components rebuilt in its facilities will befree from defects in the parts installed and workmanship performed for a period of 6 months from the date ofinstallation.

90 Day Warranty on Engine Components:

Tradewater Machinery warrants that the engine components rebuilt in its facilities will be free from defects in the partsinstalled and workmanship performed for a period of 90 days from the date of installation.

Components are dyno-tested and accompanied by 90-day warranties on all rebuilt components.(7/00 - http://www.ziggycom.net/business/trade/twmwarra.htm)

GENERAL:


Success is attributed to the amount of salvage in the area, and a reputation for good quality and low prices.

ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST PROFILE REVIEW/UPDATE: 2/88DUNS NO.: 10-473-7465SIC: 5082 Constr, Mining, MachLAST D&B: 11/87 DUNS Mkt Identifiers

TRAX INC.July 13, 200035JE

INTERNET: http://www.traxinc.com


MAJOR PRODUCT CLASSES: EngineDrive TrainGETFilters

LOCATIONS:

Headquarters - Atlanta, Georgia, USA, 1340 S. Perimeter Highway

Branches - 15 branch offices in Southeast USA, plus Global Partnerships throughout the World. (7/00)

EMPLOYMENT:

1982 - 821985 - 1001986 - 120

SALES:

1982 - $16,000,0001985 - 25,000,0001986 - 40,000,0001999 - 150, 000,000 plus (7/00)

HISTORY:

1962 - Year started.

PRODUCTS:

Trax is an OEM distributor representing several OEMs including: Daewoo, Euclid, Hitachi, JCB, Kawasaki, Samsung,and Volvo. (7/00 - http://www.traxinc.com/fr2.htm)

Trax is a buyer and seller of earthmoving and mining machinery. Deals in new equipment, used equipment, and rentalequipment.

Trax sells used Caterpillar parts.

Trax offers new OEM parts from many manufacturers, including:

GET GET Attachments Filters Hardware

Bucyrus Blades Central Fabricators Donaldson EarnestEsco Corp. Hendrix FleetguardHensley PembertonKennametal Rockland

Werk-Brau

(7/00 - http://www.traxinc.com/fr3.htm)

"In Stock" Rebuilt components include:

Engines: Cummins, Caterpillar, Volvo, Detroit, others.

Transmissions: Allison, ZF, Volvo, Cat.

Hydraulic & Hoist Cylinders: Hitachi, Euclid, Michigan, Volvo, Cat.

Also, Differentials, Final Drives, and More. (7/00)----

Atlanta stocks rebuilt components for Caterpillar machinery:

Birmingham rebuilds Allison and Clark transmissions, and Detroit and Cummins engines. Caterpillar volume is lowat this store.

"Because the CAT dealer offers the 3208 at such an inexpensive price, we can't compete with them on that engine, butwe give them trouble on all the rest," according to Fawcett.

Torque converters are also stocked.

"We haven't been selling final drives on exchange. When we get a machine in, we pull it, and if it has to be rebuilt,we'll rebuild and sell for $4,500 to $6,000 (no exchange). No one is selling parts for high sprocket, so we haven't hadthe opportunity to work on them, yet."

Cores are not purchased, as management prefers to buy the complete machine, and sell used, or rebuilt components.

The Birmingham operation stocks Detroit engines for Euclid trucks, and two Cummins (1710 and KT1150). AllAllison transmissions are stocked for Euclid trucks. (1988)

QUALITY:DISTRIBUTION & GEOGRAPHIC AREAS SERVED:

Sales are to end users throughout the southeast, primarily in the quarry and coal businesses. (1988)

PRICING:

Pricing is based on market conditions and discounting CAT list prices. (1988)


All work is dyno-tested, and 30-day warranty on major components covers parts only. (1988)

GENERAL:


Success is attributed to more people saving downtime and expense by going to exchange programs. (1988)

ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK:LAST PROFILE REVIEW/UPDATE: 2/88DUNS: 04-970-3119SIC CODES: 5082 Const, Mining, Mach

7539 Auto Repair Shp NEC5013 Automotive Equipment

LAST D&B: 12/87 Duns Market Identifiers

UNION SPARES COMPANY S.R.L.March 26, 199662JZ

COMPETITIVE TYPE:

- Manufacturer (Reportedly purchased the assets of two manufacturers during 1994, and is an Associate Member ofIDA, but it is still unclear what, if anything, USC is actually manufacturing.) (1/96)

- Distributor

MAJOR PRODUCT CLASSES: UndercarriageEngineGET (No evidence to indicate USC sells GET)Drive TrainHydraulicsGeneral UsageNot Elsewhere Classified

LOCATIONS:

Headquarters -Address: Via Olanda 96Town: 41100 Modena (MO)Country: Italy

Branch -Stabilimento Via Malta 15, 41100 Modena (MO) Italy

Rents offices, warehouse. (3/96 - D&B)

EMPLOYMENT:

1989 = 4Sep 1994 = 30 (1/96 - D&B)

1995 = 30 (3/96 - D&B)

SALES:


Approx.Lira Annual Av. U.S. Dollars

(millions) Conversion (not millions)1990 - L 6,427 1197.92 $ 5,365,133 (9/94 - D&B)

1991 - L 8,000 1240.00 $ 6,451,613 (1/96 - D&B)1992 - L14,403 1230.08 $11,708,995 (1/96 - D&B)1993 - L27,605 1570.80 $17,574,099 (1/96 - D&B)1994 - L35,982 1611.70 $22,325,516 (3/96 - D&B)

Profit (Loss) Net Worth InventoryLira/Dollars Lira/Dollars Lira/Dollars(millions) (millions) (millions)

1990 - L 31/$.026 L261/$.218 L790/$.6591991 - L131/$.106 L173/$.140 L1,260/$1.0161992 - L202/$.164 L285/$.230 L1,209/$.9831993 - L292/$.186 L479/$.305 L2,166/$1.3791994 - L2,059/$1.277 L2,418/$1.500 L2,634/$1.344

HISTORY:

1989 - Year started.1993 - December, relocated from Via XXV Aprile 14/C-D Fraz. Villavara a Bomporto (MO)1994 - Union Spares Acquires Mecot SpA (formerly Comet-ITR) 10/94 - Field reports from COSA indicate that

Union Spares Company S.r.l. has acquired Mecot S.p.a. (formerly Comet-ITR). Prior to Comet-ITR, thecompany was named Italparts. Although we have no written evidence of the USC acquisition, thefollowing information from D&B reports on USC and Mecot support this assumption: Comet-ITR wasreported to be closing down because of liquidation on November 28, 1993, when it also changed its nameto Mecot SpA. Employment was reported to be zero. The current address and phone number of USC areexactly the same as Comet-ITR. USC relocated from their former location at Villarva a Bomporto/MO toVia Olanda 96, Modena (Comet's address) on December 30, 1993. (11/3/94 - VAZanzi, COSA, Pricing)

1994 - Fortress E.S.P. Italiana Purchased by Union Spares 10/94 - Fortress E.S.P. Italiana, which until recentlywas a large manufacturer and supplier of earthmoving spare parts has gone out of business. Another Italiancompany, Union Spares Company, has purchased the stock, drawings, and technical specifications as wellas the manufacturing facility that once belonged to Fortress E.S.P. Italiana. As a result, many of the partsUnion Spares will supply in the short-term may be marked with the letters ESP. This position will certainlychange as the stock it took over works itself out of Union Spares' system. Apparently the agreement U.S.-based Regal Corp. made to buy Fortress E.S.P. Italiana (6/93) never materialized. (8/94 - Dozer -- SouthAfrican Distributor -- Newsletter and RBRodgers, P&SM)

PRODUCTS:

Based on a 1993 brochure and information in the CPR portion of PMIS, it appears that USC offers product in allmajor classes except GET. (1/96)

----A 1993 general product overview brochure is in P&MR's Competitive Information Library. (1/96)


Union Spares Co. exhibited at the Samoter 93 annual trade show, May 25-30, 1993, held in Verona, Italy. We are

not aware of any other shows at which USC has exhibited. (1/96)


There are three engine parts (Product Code TAU) transaction level price observations in the Competitive PartsReport (CPR) portion of PMIS as of 1/24/96.

----There is no list price information in Pricing's CIS system. (1/96)


Territory is 2% national, 98% export, approx. Sept. 1994. (1/96 - D&B)----

U.S.A. replacement parts distributor Heavyquip received one shipment from USC (12,090 lbs., tractor track) during1991. (P.I.E.R.S.)

----Via the CPR system, Spain Cat dealer FSA reports Repuestos Del Noroes has distributed USC product. (1st Qtr.1994)

GENERAL:

Union Spares Company SRL is an Associate Member of the Independent Distributors Association (IDA) indicatingthey are either a manufacturer or are currently providing products and/or services to Regular Members (Distributors).(1995 IDA Membership Roster)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:FUTURE OUTLOOK: Financial condition is good. (3/96 - D&B)LAST D&B: March 18, 1996DUNS: 43-797-9487

SIC/DESCRIPTIONS: 5084 - Industrial Machinery & Equipment WholesalersLAST PROFILE REVIEW/UPDATE: March 26, 1996

UNION TRACTOR LTD.May 6, 199732DK



LOCATIONS:

Headquarters: Edmonton, Alberta, Canada6210 75th Street

5,582 sq. mt., one-story concrete block building, sprinkler-equipped, suburban business section on main street.

Branches:

- Grande Prairie, AB- Red Deer, AB- Grimshaw, AB- Calgary, AB- Prince George, AB- Edmonton, AB(4/97 - D&B)

EMPLOYMENT:

1987 = 300 (1987 - D&B)1996 = 150-200 (4/97 - D&B)1997 = 150-200 (125 at headquarters) (4/97 - D&B)

SALES:


Canadian Approx. ConversionYear Dollars U.S.D. Factor==== ======== ======= ==========1993 = C$30,763,000 $23,854,684 (8/95 - D&B) 1.2896

----No sales information on 4/97 D&B.

HISTORY:

Formerly Caterpillar dealer for northern Alberta, dates unknown.

1927 - Business started.1989 - Black Cat Blades Division of Union Tractor sold, forming Black Cat Blades Ltd.

PRODUCTS:

Based on Construction Equipment Magazine's 1997 Buyers Guide, dated Nov. 30, 1996, Union Tractor represents thefollowing companies:

Company Product======= =======

- Baldwin Filters Filters- Parker Hannifin Corp., Recor Div. Filters- Berco Undercarriage- Intertractor Undercarriage- H&L Tooth Co. GET- FAG Bearings Corp. AF Bearings- NTN Bearing Corp. of America AF Bearings- Torrington Co., The AF Bearings- Rexnord Corp.- Federal-Mogul Corp.- Robert Bosch- Stanadyne Automotive Corp. Fuel System- Chicago Rawhide (formerly CR Services) Seals- Gates Rubber Co., The- Heavy Equipment Parts Co. "Bulldog" Seals- Industrial Parts Depot (IPD)- Interstate Diesel Service- Huber Reversible Fan Engine Fans- Spectra Inc.- Miba Frictec GmbH Friction Material- Preco Inc.- Hyster Co.

----In addition to the above Buyers Guide information based on Competitive Parts Reports (CPR) input during the latesteight quarters, the following brands have also been sold by Union Tractor:

Company Product======= =======

- Caterpillar Inc. ENG, U/C, DT, GEN- Black Cat Blades (formerly a division GET

of Union Tractor until 1989)- Hensley GET- Diamond Weld & Mfg. GET, prod. code SFF

- ROCA GET, prod. code TBT- Wajax GET, prod. codes TBT, CFR- Italtractor U/C- Sorefa U/C(5/97)

----The following are or were divisions of Union Tractor Ltd.:

- Delta Warehouses (wholesale division)- United Diesel Injection- George E. Failing Supply Co.(4/97 - D&B)


Refer to Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) on brands offered by UnionTractor.


Union Tractor is a member of the Peed Parts & Attachments Network. (3/27/96 - Peed Member List)

WARRANTY:PRICING:

Pricing (P&MR) Dept. has no list price information in their CIS system. (5/97)


Principal territory is reported as international on 4/97 D&B, but 99% of approximately 300 CPRs submitted during thelatest eight quarters were turned in by Finning, Canada. (5/97)

GENERAL:

Reportedly, business peaks in the winter. (4/97 - D&B)----

Union Tractor Ltd. is a 100% subsidiary of UTL Holdings, Inc., Newark, Delaware, USA. (4/97 - D&B)----

Each of the Union Tractor locations are members of the Independent Distributors Association (IDA). (1995Membership Roster)

APPARENT MARKETING STRATEGY:ASSESSMENT OF STRENGTHS:ASSESSMENT OF WEAKNESSES:

FUTURE OUTLOOK:LAST D&B: May 5, 1997DUNS (D&B NUMBER): 20-084-8307

SIC (CODES): 7699 0132 Provides Repair Services5084 0060 Wholesales Industrial Machinery and Equipment

LAST PROFILE REVIEW/UPDATE: May 6, 1997

WILSON-FINLEY COMPANY INC.September 14, 199831AP

INTERNET: Does not have their own Internet site. (9/98)


MAJOR PRODUCT CLASSES: Undercarriage GETEngine Drive TrainHydraulics

LOCATIONS:

Headquarters - Raleigh, North Carolina5901 Chapel Hill Rd.

Rents 8,000 sq. ft. one-story brick building, in good condition, suburban business section on well-traveled street.

Branches:

Raleigh, North Carolina, 5409 Hillsborough St.Greensboro, North CarolinaCharlotte, North CarolinaAshland (Richmond), VirginiaAtlanta, Georgia (9/98 - D&B)

----After completion of the new facility in Atlanta (apparently this is replacing an existing facility), all locations' totalwarehouse space will exceed 85,000 sq. ft. and office space to over 25,000 sq. ft. (4/97 - Berco News)

----Closely related to Wilson Parts & Equipment Company (same officers). It appears this company operates as a repairerof construction equipment, while Wilson-Finley Co. is the parts wholesaler. (9/98)

EMPLOYMENT:

Aug 1996 = 60 (15 at headquarters) (6/97 - D&B)Nov 1997 = 60 (15 at headquarters) (9/98 - D&B)

SALES:

1996 = $12 Million projected, 8/96 (6/97 - D&B)1997 = $12 Million projected, 11/97 (9/98 - D&B)

----Reportedly, Berco product represents 80% of parts sales. (4/97 - Berco News)

HISTORY:

1998 - 54, 18 at headquarters (9/98 – D&B)

SALES:

1980 - $ 3,000,000 (10/80 - D&B)1991 - $16,000,000 estimated (8/92 - Parts Pricing Dept. Study)

----This is a private company. ITP has declined all financial information requested by D&B in recent years. (9/98)

HISTORY:

1956 - Business Started1960 - Business purchased by Maurice Dana1990 - Opened Jacksonville, FL warehouse (formerly Beltrac)1992 - Opened Waterford, MI warehouse in late 1992 or possibly very early 1993.1997 - Approx. April, opened its first West Coast distribution center in Woodland (Sacramento area), California.

PRODUCTS:

ITP is believed to be the largest North American importer of Berco undercarriage components. (5/00)----

In March 1994, Berco D7G undercarriage components were purchased from ITP as part of P&SM's Competitive PartsTest Program. Sorefa segments were provided instead of Berco. (3/94)

----Main focus is undercarriage components. ITP is the largest direct importer of Berco product in the U.S. (7/93 -P&SM, Mkt. Res.)

----In addition to undercarriage, ITP's 1993 catalog offers Caterpillar and Esco style bucket tips and adapters (ETE brand),DT gears (D4 - D8K), hydraulic track adjuster seal kits, and seat cushions and arm rests.

----ITP sells replacement parts for many OEM applications, including the following:

Caterpillar Deere Massey FergusonJ.I. Case Fiat-Allis KomatsuTerex-Euclid Dresser-International LiebherrMitsubishi Hitachi Kobelco

(1/93 - ITP Price Catalog)----

Information obtained from P.I.E.R.S. (Port Import Export Reporting Service) revealed the following:

- In 1991 ITP received 169 shipments, listing Berco as the exporter, totaling 10,036,569 pounds total cargoweight (av. per shipment 59,388 pounds).

- For the first four months of 1992, ITP received 73 shipments, listing Berco as the exporter, totaling 4,374,033pounds total cargo weight (av. per shipment 59,918 pounds).

Sometimes in the PIERS system the name of the transportation company is listed as the exporter instead of the actualmanufacturer. Because of this, and the fact that ITP sells some non-undercarriage products, we ran another PIERSreport listing all imports to ITP excluding Exporter = Berco. Below is a summary of the results for the first 6 monthsof 1992 followed by exporter detail:

- Total cargo weight = 3,517,577 pounds- Total of 75 shipments (av. per shipment 46,901 pounds)

Schiassi Spedizioni Intl., Bologna Italy- Tracks for Tractors and Tractor Parts- Total Cargo Weight = 3,211,964 pounds- Total Shipments = 69- Av. Wt. per shipment = 46,550 pounds

Berti, Bologna, Italy- Tractor Parts- Total Cargo Weight = 43,726 pounds (1 shipment)- This company (apparently an incomplete name) could be in one of the following businesses:

o Freight Transportation Companyo Iron, Steel Forgings Companyo Motor Vehicle Supplies and New Parts Company

Bartolotta Franco, location not provided- Tracks for Tractors- Total Cargo Weight = 43,653 pounds (1 shipment)

Savino Del Bene- Tracks for Tractors- Total Cargo Weight = 87,225 pounds (1 shipment)- Freight Transportation Co., Scandicci, Italy or Basildon, UK-England

Bertoni & Cotti- Tracks for Tractors- Total Cargo Weight = 131,009 pounds (3 shipments)

PRODUCT FEATURES:

See Quality section.

QUALITY:

Parts Competitive Bulletins (PCB) and/or Competitive Test Reports (CTR) are available on Berco product. (5/00)

MARKETING:

Advertises in Rock & Dirt magazine. (6/94)


Agrees to change Warranty Statement (7/93): Through Caterpillar's Patent Department, P&SM objected to a portionof Industrial Tractor Parts warranty statement which claims that all parts are guaranteed to be equal or better in qualitythan those of the original manufacturer. ITP is the largest Berco distributor in North America. Our claim was thatthrough P&SM's Competitive Parts Test Program, we have continually proven and released Parts CompetitiveBulletins explaining the advantages of Cat undercarriage components.

Through a mutually accepted compromise, ITP has agreed to change the objected language on their warrantystatement and all other promotional materials to read as follows: "All parts are manufactured of the finest quality steelwith the most rigid workmanship and tolerances to insure they will provide long life with maximum resistance towear." (7/21/93 - Caterpillar Patent Department and Industrial Tractor Parts)

----Warranty: All parts are manufactured of the finest quality steel with the most rigid workmanship and tolerances andare guaranteed to be equal or better in quality and 100% interchangeable with those of the original manufacture.

We guarantee our products to be free from defect in material and to be strictly interchangeable with those parts of theoriginal manufacturer. Except as stated above, we make no warranties, express or implied, of merchantability orfitness for a particular purpose. In case of breach of this warranty or any other duty with respect to the quality of anygoods, the exclusive remedy is replacement. We will replace free of charge, F.O.B. our warehouses, any part whichwe believe proves to be defective in material or workmanship, provided the part or parts were properly installed andused in normal operation. Under no circumstances whatsoever will we recognize claims for labor charges or anyspecial or consequential damages directly or indirectly arising from the use of the product whether based on lostgoodwill, lost resale profits, work stoppage, impairment of other goods, or otherwise, and whether arising out ofbreach of any express or implied warranty, breach of contract, negligence or otherwise, our liability limited strictly tothe replacement of such parts ITP deems defective.

Adjustments will be made only on parts which have been returned to us and have failed under the terms and conditionsof this warranty.

This warranty shall be null and void with respect to any product which has been subject to alteration, repair,rebuilding, improper installation, improper maintenance, abnormal use, or wherein the product is used in assemblies orsub-assemblies employing sub-standard components.

No person or organization, regardless of position, relation, or affiliation with Industrial Tractor Parts is authorized tomodify, amend, add to, or delete from this warranty either verbally or in writing. (1993 - Industrial Tractor PartsCatalog)

PRICING:

Additional information on prompt payment discounts: We previously reported that effective May 10, 1993, inaddition to giving customers 5% off published list, Industrial Tractor Parts will give customers an additional 3% off oflist price for payment within 30 days. ITP's January 17, 1994, price list states: Discounts will remain the same asbefore with the exception that the discount for prompt payment (on accounts that are not past due only!) will be asfollows:

- 5% for 15 days payment (strictly enforced), or- 3% for 30 days payment (strictly enforced).

(1/94 - ITP Price List)----

Most current price list in Parts Pricing Dept. is effective March 1, 1995. (8/95)----

Transaction level price observations are available through the U/C Pricing Analyst via Competitive Parts Reports(CPR) information. This information is no longer available via PMIS. (5/00)

----ITP sells to other distributors at List Price less 20%. In addition they provide a freight allowance equal to 5% of thenet price. Freight terms are F.O.B. their facility. (3/92 - R.J. Wille, NACD, PSSR)

----General Terms of Sale:

Orders - When placing or sending orders, please give part name and part number, and all information useful to itsidentification. ITP cannot be held responsible for errors and/or delays caused by inaccurate or incompleteinformation. Please confirm all telephone orders in writing.

Shipments - State address and routing wanted. All orders not specifying how goods are to be shipped will be routedaccording to ITP's best judgment and without responsibility on their part. No responsibility is assumed for delay,damage or loss to merchandise while in transit. Responsibility ceases upon delivery of shipment to the transportationcompanies from whom a receipt is received showing that the shipment was in good condition when delivered to them.All claims for shortage, error, deficiency, or defectiveness must be reported to ITP immediately upon receipt of goods.

Deliveries - All items listed herein can generally be delivered in great quantities from stock. The delivery terms ofour offers are not absolutely binding. In the case of delayed deliveries the Customer has no right to ask for indemnityor to recover from damages or losses of any kind. (1993 - Industrial Tractor Parts Catalog)

----ITP reportedly operated at a 15% gross margin. (10/88 - J.B. Monachino, NACD, PSSR)


Wholesaler; territory is U.S., Canada, Mexico, Central and South America. (8/92 - P&SM, Mkt. Res.)----

Although Dun & Bradstreet reports indicated ITP's territory is U.S. and Canada, ITP also exports to Central and SouthAmerica. The following was obtained from P.I.E.R.S. (Port Import Export Reporting Service). During the first fivemonths of 1992 ITP exported 222,245 pounds total cargo weight to Central and South America. Of the 14 shipments,12 were from the ITP branch in Jefferson, LA (New Orleans area) and the remaining 2 were from the ITP headquartersin Long Island City, NY.

TotalDestination Point Shipments Cargo Weight

Buenaventura, Colombia 2 52,974 poundsCallao, Peru 2 11,650Sto Tomas, Guatemala 3 19,067Guatemala City, Guatemala 1 18,273

Tegucigalpa, Honduras 3 38,684Pto Cortes, Honduras 1 49,301San Salvador, El Salvador 2 32,296Totals 14 222,245 pounds

----According to August, 1990 information provided by NACD, Houston District, ITP was particularly active at that timein Mexico.

GENERAL:

100% of stock is owned by Maurice Dana and wife Erna. She is not active in this business. (9/98 - D&B)----

Considered by P&SM as a 'D' competitor (major distributor). (5/00)----

ITP is a Regular Member of the Independent Distributors Association (IDA) and has been for a number of years.(6/94 - Advertisement in Rock & Dirt)


By far, ITP is the largest U.S. direct importer of Berco products. This should allow them to obtain the best possiblepricing. Several ITP distribution locations, most relatively close to shipping ports for direct shipments from Italy.(8/92, P&SM, Mkt. Res.)


Predominately Eastern USA locations. (5/00)----

Limited service capabilities, but either does or did offer track press work per 1987 brochure. (8/92 - RBRodgers,P&SM, Mkt. Res.)

FUTURE OUTLOOK:

ITP is reportedly planning on expanding their range by opening wholesale warehouses on the West coast. Citiesmentioned are Sacramento, CA (opened branch here in 1997), and Seattle WA. This is especially attractive as westcoast headquartered Industrial Parts Depot (IPD) continues to de-emphasize their undercarriage business, putting moreemphasis on engine parts. (8/92 - Parts Pricing Dept. Study)

LAST D&B: September 1998DUNS (D&B NUMBER): 01-237-7073SIC CODE/DESCRIPTION:

50 84 Wholesale Trade, Industrial Machine ry and EquipmentLAST PROFILE REVIEW/UPDATE: December 31, 1997 (minor update 5/26/00)

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