Acquisition of Berkshire

Precision Partners Holding Company Completes Acquisition of Berkshire Industries, Inc.

Matawan, NJ – August 25, 2006—Precision Partners Holding Company (“Precision”), a leading global manufacturing and engineering services company that specializes in providing precision machined, stamped, cast, and fabricated components, as well as sophisticated die tooling and assemblies, and Motor Wheel^® brand products, today announced that it has completed the acquisition of Berkshire Industries, Inc. (“Berkshire”).

Berkshire is a well-recognized manufacturing, engineering and assembly services company. Operations are focused primarily on the machining and assembly of complex aerospace and defense components such as eyepieces, hydraulic manifolds, diffuser cases, actuator housings, afterburner components, and titanium actuating cylinders. Berkshire has approximately 95,000 square feet at its Westfield, Massachusetts, manufacturing facility where it has approximately 166 employees and is expected to generate 2006 revenues of approximately $45 million.

Berkshire was founded in 1957 and continues today to be recognized for its outstanding technical capabilities, high performance equipment, and excellence in manufacturing. With its reputation and numerous awards for quality and service, Berkshire is often selected as the preferred sole source provider of components for some of the world’s best known aerospace and defense OEM’s.

Peter J. Statile, Executive Vice President and Chief Operating Officer of Precision, commented, “Berkshire is a great strategic and operational fit with our Power Generation, Aerospace, and Defense group of companies. Their customers and “best in class” capabilities are complimentary to our core operating philosophy and significantly strengthen our position in the market place.”

John G. Raos, President and Chief Executive Officer of Precision, added, “Berkshire has a strong history, and an outstanding reputation. This is truly a company that is world-class in every respect. Berkshire brings critical mass and a customer base that consists of the top names in the aerospace and defense markets. We welcome their outstanding management team and their highly skilled workforce to the Precision Partners family.”

About Precision Partners

Precision Partners (a portfolio company of GSC Partners) is a leading global manufacturing and engineering services company with 23 production facilities located in the United States, Canada, Mexico, China and South Africa, with pro forma revenues in excess of $475 million. Precision Partners offers full manufacturing services including: design and process engineering; machining; stamping; component casting; complex die tooling design and build; fixturing design and fabrication; electro-mechanical assembly; full project and supply chain management; and the industry standard Motor Wheel brand braking system hubs, drums, and rotors.

Precision Partners now offers its customers the combined technical resources of approximately 2,200 employees, working globally in approximately 1.8 million square feet of state-of-the-art manufacturing space. By using its broad manufacturing service capabilities and highly engineered processes all Precision Partners companies meet the critical specifications of customers in a wide range of industries who rely on “Preferred” or “Qualified” suppliers for outsourced manufacturing.

About GSC Partners

GSC Partners is a registered investment advisor with over $9 billion of assets under management. The firm specializes in credit driven investing including control distressed debt, corporate credit, European mezzanine lending and structured finance. GSC Partners, with over 140 employees, is headquartered in New Jersey and has offices in New York, London and Los Angeles. GSC’s investors include both institutional investors and substantial net worth individuals seeking sophisticated and attractive alternative investing opportunities. For more information about the firm, please visit www.gscpartners.com.