Monarch Machine Tool: Press Releases

March 6, 2000

Monarch Management Buyout

Monarch Machine Tool was acquired on February 11, 2000, by management and Cygnus Management Advisors. Monarch will continue to offer their full line of metalworking equipment and service worldwide. John Keeler, CFO of the new Monarch Machine Tool Company, was recently quoted concerning the sale:

"The entire staff here at Cortland is excited about this transition. It's been apparent for a long time that Genesis Worldwide was intent on concentrating on their coil processing operations. With the new ownership in place, Monarch will focus on what they do best, making machine tools. We will continue to offer our full line of Monarch CNC vertical machining centers and high precision lathes. We will also be entering into new markets with the accelerated introduction of our
traveling column and gantry-style machining centers. With the same team intact, customers will get the same excellent service they've come to expect from Monarch. With the renewed concentration on machine tools, these same customers can be assured that Monarch will be around long into the new millennium to serve their metalworking needs."

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Monarch Machine Tool
Monarch Machine Tool, Inc.
641 NYS Rt. 13
Cortland, NY 13045-0749

607.753.6001 phone
607.753.7127 fax
607.753.6344 service fax

&COPY; Monarch Machine Tool, Inc. 2003