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SUMMARY OF REMARKS BY TRANSTECHNOLOGY CORP. MANAGEMENT AT MEETINGS OF THE NATIONAL ASSOCIATION OF STOCKBROKERS

 SUMMARY OF REMARKS BY TRANSTECHNOLOGY CORP. MANAGEMENT
 AT MEETINGS OF THE NATIONAL ASSOCIATION OF STOCKBROKERS
 LOS ANGELES, March 16 /PRNewswire/ -- The following is a summary of the remarks of the management of TransTechnology Corp. (NYSE: TT) presented at meetings of the National Association of Stockbrokers in San Francisco, Los Angeles, San Diego and Phoenix during the week of March 9-12, 1992.
 Michael J. Berthelot, vice chairman and chief executive officer, discussed the new management structure of the company. Berthelot stated that of the four corporate officers only one has been with the company for more than two years, with the rest having an average tenure of less than six months. Operating division presidents, of those divisions to be retained following anticipated divestitures, also are new, with only one having more than two years with the company. The result, said Berthelot, is that "this is really a new company, with new attitudes, new approaches and new ideas."
 The new management team has developed a plan for the future of TransTechnology which will focus the company as a manufacturer of industrial component parts used by other manufacturers in diversified markets, including


industrial equipment, aviation, utilities and home building and improvements. Included in this category will be the Breeze Industrial operation (Saltsburg, Pa.) which manufactures gear-driven band fasteners and tachometer linkages and TransTechnology Electronics (Peoria, Ill.) which produces specialized cable, conduit and connectors for the commercial and defense aviation markets. Additionally, the company will retain and strengthen those units which produce specialized systems for markets in which the company is a leader and in which significant barriers to entry exist. Included in this grouping are the Lundy Technical Center (Pompano Beach, Fla.) chaff production facility, the Breeze-Eastern (Union, N.J.) helicopter hoist and winch unit and Federal Laboratories (Saltsburg) tear gas and law enforcement products division. In order to balance these two areas, the company intends to contain its defense component to under 40 percent of total revenues. The company has no plans to diversify outside of these areas until all economically feasible horizontal expansion opportunities have been capitalized upon.
 Implementation of this strategy is already well under way with the announced sale of the company's elastomer products, textile machinery, weather instruments and financial systems businesses. Reduction of corporate staff and the relocation of corporate headquarters from California to the company's Breeze Eastern manufacturing facility should reduce corporate overhead spending by $3.6 million, down almost 50 percent from its fiscal year 1991 level of $7.6 million.
 The major benefit of relocating the corporate office, however, will be the enhanced ability of corporate executives to access the field and work with operating divisions, customers and vendors. Incentive compensation programs for the operating units and corporate personnel will be based upon a combination of goal achievements, including unit operating results compared to plan, company-wide operating results and the completion during the fiscal year of specific objective goals (such as working capital utilization, new product development, capital expenditures and reinvestment into the business for future growth).
 The company announced that it expects to be profitable for its fourth quarter ending March 31, 1992, although the fiscal year will reflect a loss as the result of the losses recognized earlier in the year from the discontinuance of its Computer Graphics manufacturing business and the restructuring of its corporate office. Management expects that following the above divestitures, fiscal year 1993 will see gross revenues of approximately $100 million, earnings from continuing operations of $1 per share and a profit in each quarter.
 The company has established financial goals for each operating division of a 15 percent annual increase in operating income, before taxes, corporate charges and interest expense and a return on the equity of 20 percent. Long-term debt will be targeted at a level not greater than 33 percent of long-term debt plus equity. Regularly declared dividends, which the company hopes to resume in the 1993 fiscal year, would not be greater than 33 percent of EPS on an annualized basis.
 Long-term growth plans for the company are based upon acquisitions of product lines which would complement the company's existing markets, manufacturing processes and distribution channels and would allow the company to grow horizontally on a marginal, complementary basis, product by product. The company does not plan any major acquisitions; rather, small acquisitions of product lines from minor players and/or competitors. Acquisition criteria include a targeted return of 20 percent on investment immediately following the acquisition, with a realistic growth rate in operating income, exclusive of synergies or improvements by the company, of 10 percent per year. Synergy, as well as manufacturing and marketing improvements, should allow the acquisition candidate to realize a 15 percent growth rate. The long- term goal is to return the company to its $200 million revenue base within five years and to earn not less than $2 per share annually.
 The presentations were made by Berthelot, Chandler J. Moisen, chief financial officer, and Patrick K. Bolger, group vice president of Aerospace/Defense operations.
 -0- 3/17/92
 /CONTACT: Michael J. Berthelot, vice chairman-investor relations of TransTechnology, 818-990-5920/
 (TT) CO: TransTechnology Corp. ST: California IN: ARO SU:


JL-EH -- LA044 -- 8569 03/16/92 23:15 EST
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Date:Mar 16, 1992
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