ABC-NACO Names Makary CEO and Duval Non-Executive Chairman of the Board.

Business Editors

DOWNERS GROVE, Ill.--(BUSINESS WIRE)--April 3, 2001

ABC-NACO's (ABCR) Board of Directors announced today that Vaughn W. Makary was elected Chief Executive Officer and a Director of the Company. Mr. Makary was previously President and Chief Operating Officer.

Mr. Makary played a key role in expanding the Company's operations in Canada, Mexico and Europe and in ABC-NACO becoming a leading supplier of technologically advanced products for the North American and European rail markets. Mr. Makary said, "I am pleased to have the opportunity to lead ABC-NACO through this difficult market period. I look forward to focusing the Company's considerable capabilities on strengthening our financial performance as well as being the best supplier to all our customers in the rail industry and in the other markets we serve."

The Board also announced that Daniel W. Duval was elected Non-Executive Chairman of the Board. Mr. Duval has served as a Director of the Company since 1995. He was President, Chief Executive Officer and a Director of Robbins & Myers, Inc., a manufacturer of fluid management equipment for process industries. Mr. Duval retired from that company in December 1999 as Vice Chairman and a Director.

Mr. Duval said, "I look forward to working with Vaughn as he leads ABC-NACO into the future. His extensive background in all facets of our business and his dedication to driving new technologies through our industry makes him extremely qualified for his new position."

Effective with these changes, the Company also stated that Joseph A. Seher announced his retirement as Chairman, Chief Executive Officer and a Board member. In addition, Donald W. Grinter, retired Chairman of the Company, announced that he would not stand for election to the Board of Directors at the next shareholders meeting.

ABC-NACO is one of the world's leading suppliers of technologically advanced products to the railroad and flow control industries through its three business groups: Rail Products, Rail Services, and Flow and Specialty Products. With four technology centers around the world, ABC-NACO holds pre-eminent market positions in the design, engineering, and manufacture of high-performance freight rail car, locomotive and passenger rail suspension and coupler systems, wheels and mounted wheel sets. The Company also supplies railroad and transit infrastructure products and services, technology-driven specialty track products, as well as highly engineered valve bodies and components for industrial flow control systems worldwide. It has 32 offices and facilities in the United States, Canada, Mexico, Scotland, Portugal, and China.

Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts, may be deemed to be forward-looking statements that are subject to change based on various factors which may be beyond the control of ABC-NACO Inc. Accordingly, actual results could differ materially from those expressed or implied in any such forward-looking statement. Factors that could affect actual results are described more fully in the Company's Annual Report on 10-K for the transition period ended December 31, 1999, under the caption "Cautionary Statement Concerning Forward Looking Statements," and other risks described from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.