Goldsmith Agio Helms Completes the Sale of Tru-Circle Corporation to Turbine Engine Components Technologies Corporation.

MINNEAPOLIS -- Goldsmith Agio Helms announced today the completed sale of substantially all the assets of its client, Tru-Circle Corporation ("Tru-Circle" or the "Company"), to Turbine Engine Components Technologies Corporation ("TECT"), a portfolio company of Stony Point Group ("Stony Point"). The Company filed for Chapter 11 Bankruptcy protection on August 12, 2004, and has been managed by Nightingale & Associates ("Nightingale"), an interim management, operational and financial restructuring firm, since March 2004. TECT acquired the Tru-Circle assets Company through a 363-sale process.

Tru-Circle is a specialized manufacturer of precision-machined and sheet metal components and assemblies for the aerospace industry. The Company's products include highly engineered, machined components, such as rings and flanges, as well as sheet metal detail parts. The Company operates primarily under long-term contracts with its customers, which include some of the most respected names in the aviation industry. Tru-Circle is headquartered in Wichita, Kansas, and operates from facilities in Wichita and Kent, Washington.

In July 2004, Tru-Circle sold the Los Angeles sheet metal operations of the Company to Seachrome Corporation ("Seachrome"), a manufacturer and supplier of precision fabricated metal products to original equipment manufacturers in a range of industries. The Los Angeles sheet metal business manufactures sheet metal cabinets and related structures, which often are integrated with electronics and house computer servers, medical devices, telecommunications, and other similar equipment.

Bernie Stanek, Vice President of Stony Point Group, commented, "We believe this acquisition creates additional momentum for the long-term growth strategy of TECT. We were particularly impressed with the emphasis on quality demonstrated by Tru-Circle."

David Hallett, managing director and partner of Goldsmith Agio Helms, stated, "This acquisition will expand the precision machining capabilities of TECT and provide for greater market penetration in the aerospace industry." Stephanie Vitt, vice president of Goldsmith Agio Helms, added, "Tru-Circle's established customer relationships with some of the world's leading aerospace companies will provide TECT with a solid platform for growth."

Turbine Engine Components Technologies Corporation (www.tectcorp.com) is a privately held, custom manufacturing services supplier of semi-finished and finished engine-ready components, including solid and hollow fan blades, compressor blades and vanes, BLISKs, IBRs, impellers, diffusers, turbine airfoils, rotor shafts and hubs, disks, oversized and precision forgings, and other hardware. Headquartered in Thomasville, Georgia, TECT serves the aerospace, power generation, rail, off-highway, automotive and other industries from manufacturing operations in Cleveland, Ohio, Newington, Connecticut, Santa Fe Springs, California, Thomasville, Georgia, and Utica, New York.

Stony Point Group (www.stonypoint.com) is an operations-focused private equity and management firm that acquires middle-market manufacturing companies that are under-performing or distressed and have annual revenues of $50 million to $200 million. Unlike many private equity firms, Stony Point is interested in opportunities in which operational and management issues are the root causes of the distress. Stony Point looks for investment situations where it can bring both new equity and new operational and management experience to the investment target. The firm's professional management team and its background in turnaround management consulting make Stony Point ideally suited to correct operationally distressed situations. Stony Point Group is based in Asheville, North Carolina.

Seachrome Corporation (www.seachrome.com) is a manufacturer and supplier of precision fabricated metal products to original equipment manufacturers in a range of industries. The Metal Products division provides custom manufacturing, stamping, metal fabrication and tooling services. The Bath and Washroom division manufactures and distributes a complete line of commercial bath and washroom accessories, including ADA shower seats and grab bars, shower rods, towel racks, and more. The Infratech division manufactures quartz infrared curing and heating systems for the PBE industry, comfort heating, and other industrial applications. Seachrome Corporation is headquartered in Azusa, California.

Nightingale & Associates (www.nightingale-associates.com) is a consulting organization with a reputation for finding solutions to complex business situations. Its principals are all senior executives with extensive general management operating experience. A principal leads every engagement, actively participates in it and is responsible for the outcome. Nightingale's core capabilities include advising creditors on financial and operational restructuring, providing turnaround or crisis management services to debtors in financial difficulties, assuming interim senior management roles, selling companies, divisions, product lines, and assets that do not meet the owner's strategic or profit objectives, reducing or eliminating business liabilities, and assisting family owned and operated businesses in the transition from one generation to the next or to professional management.

Goldsmith Agio Helms (www.agio.com) is one of the nation's leading private investment banking firms providing financial advisory services to middle-market businesses. The firm's services include mergers and acquisitions, distressed advisory and restructuring, valuations and fairness opinions, and private placements of debt and equity. The firm operates internationally from its offices in Minneapolis, New York, Chicago, Los Angeles, and London.

If you would like more information about this transaction, please contact David Hallett, [e-mail] at [phone].