Brittany Corporation Names Fred Clarke President & CEO, Forrest Hayes Vice Chairman.

Business Editors and Automotive Writers

CLEVELAND--(AutmotiveWire)

Jan. 8, 2001 - Frederick W. Clarke, 53, has been named president and chief executive officer of Brittany Corporation, according to Charles P. Bolton, chairman of the privately-owned Cleveland-based holding company. Clarke succeeds Forrest D. Hayes, 68, who has been named vice chairman, a newly-created position to support a smooth management transition and assist the Chairman with special projects.

"We are extremely pleased to benefit from Fred's diverse background in strategic planning and global operations management for large companies such as TRW as well as his experience with medium-sized entrepreneurial businesses," said Bolton. "His strong management capabilities will help our businesses grow. Both Forrest and I are very excited to have Fred on our team."

According to Fred Clarke, "Brittany's philosophy of buying strong mid-sized businesses and helping their management teams grow attracted me to this high-quality business. It provides entrepreneurs and their management teams with succession options that businesses sold through typical auction processes to corporations or venture funds are not able to offer."

Clarke joined TRW in 1991 as vice president, corporate development, where he was responsible for divesting more than 20 business units. Following that he was responsible for planning, capital budgets, and mergers and acquisitions at the corporate and automotive group levels.

Most recently, Clarke was vice president and general manager of TRW's Nelson Stud Welding Division in Elyria. He facilitated the sale of that business to Citicorp Venture Capital and Fabri-Steel Corporation earlier this year.

Prior to joining TRW, Clarke was president of IMC, a privately held investment management company in the greater Cleveland area and before that he was a partner with Ernst & Whinney (now Ernst & Young).

Clarke, a retired Captain of the US Navy Supply Corps, is a graduate of Stanford University in mechanical engineering and the Harvard Business School.

With Clarke's arrival, Forrest Hayes begins his second retirement from active operations. Prior to joining Brittany in 1992, Hayes was the managing partner of the Arthur Andersen office here in Cleveland from 1978 until 1990 when he retired after a 36 year career. From 1990-92 he served as CFO of Waste-Quip during its start up phase and continued as a Board member until its sale in 1999. Hayes plans to remain active in Cleveland civic and professional activities.

Brittany Corporation, a Cleveland based company, owns several manufacturing companies which produce metal stampings and castings, die-cut materials, close tolerance gaskets, and packaged desiccants for refrigeration, air conditioning, brakes, hydraulic cylinder and suspension system applications. The companies have 10 manufacturing plants in Ohio, Indiana, Michigan as well as Mexico with consolidated sales of approximately $200 million. Primarily serving automotive and industrial customers, Brittany also has an investment in a 100-year-old pottery business serving the houseware and gardenware markets through major specialty stores and retail chains.