Shanghai Facility

PPI Holding Company Formall Dedicates Facility in Shanghai, China

Company’s First Production Plant in Asia To Serve Major International Transportation and Power Generation Customers

Hazlet, NJ – May, 2005—Precision Partners Holding Company (“Precision”), a leading global manufacturing and engineering services company that provides precision machined, stamped, and fabricated components, as well as sophisticated die tooling and assemblies, has announced the formal opening of its first plant in Asia. The Worldwide Precision Products plant in Shanghai, China, is a 30,000 square-foot modern facility designed to service the engineering, machining, and assembly needs of the company’s commercial, industrial, transportation, and power generation customers in Asia.

The event was attended by, numerous local dignitaries as well as senior sourcing executives from some of the worlds leading companies. Guest speakers recognized Precision for its commitment to customer service and world-class manufacturing in Asia.

John G. Raos, President and Chief Executive Officer of Precision Partners, commented, “Our Worldwide Precision Products plant is the first milestone in our plan to become a major contributor to China’s growing precision machining industry. We are privileged to be joining with our customers and to play our part in ensuring that the economic goals and requirements of their industry, as well as those of the great country of China, are met.”

Raos continued, “With tremendous cooperation of the local government, our local customers and our own employees, in a relatively short time we were able to build, equip and start up a modern factory capable of producing more than 53,000 compressor bodies annually – more than any other producer has been able to provide in China to date.”

Peter J. Statile, Executive Vice President and Chief Operating Officer for Precision also commented on plans for expansion, “Within a year we expect to open another custom 60,000-square foot plant with state-of-the-art equipment, dedicated to the needs of our power generation and aerospace customers, furthering our investment in this vital market and our commitment to our customers as a critical global supplier.”

About Precision Partners and Worldwide Precision Products

Precision Partners is a leading global manufacturing and engineering services company, offering its customers the combined technical resources of approximately 1,100 employees, working globally in approximately 950,000 square feet of state-of-the-art manufacturing space. By using its broad manufacturing capabilities and highly engineered processes to provide a full line of high quality manufacturing and sub-assembly services, as well as engineering and design assistance, 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.

Worldwide Precision Products is a subsidiary company of Precision Partners specializing in precision machining and assembly of complex and semi-complex components from its current 30,000 square-feet of manufacturing space located in Shanghai, China. Expansion plans for the subsidiary are currently underway.