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McGregor Brothers Holdings LLC Announces the Creation of 'SC METAL PRODUCTS LLC'

Springfield, Ohio, April 11, 2005-Dan and Jim McGregor, owners of Morgal Machine Tool Company, Inc., Ohio Stamping and Machine LLC, Rose City Manufacturing and Carmichael Machine Corporation, announced today their plans to create a fifth company in Aiken, South Carolina to be called SC Metal Products LLC (SCMP.) The company expects to create 25 jobs initially and could add an additional 75 jobs over the next three to five years.

"We are very excited about the opportunities before us in the southeastern part of the United States," said McGregor Brothers Chairman of the Board Dan McGregor. "We have a large and growing customer base there. Our customers asked and we responded by moving closer to them. We look forward to continued successful growth for this and all our companies. Ultimately, SC Metal Products will provide net job increases at our Ohio facilities," McGregor added.

SC Metal Products will begin as a world class, 72,000 square foot, new manufacturing facility, situated on 14 acres. It will house mechanical power presses up to 800 tons, pulley splitting equipment, spot welders and robotic welders, assembly cells and various tool and die equipment. Parts manufactured in the new Aiken facility will be used in everything from lawn mowers and ATVs to automobiles.

Initially, the McGregors will invest more than $7 million in buildings, land, equipment and capital for this venture. The company will produce metal stampings, split steel pulleys, sprockets and a variety of welded assemblies.

"SC Metal Products will be a great addition to the Ventures Industrial Park and Mr. McGregor has indicated he looks forward to getting to know more about our community and being involved," said city of Aiken Mayor Fred Cavanaugh.

"We are very excited that South Carolina Metal Products is coming to Aiken County," said Ronnie Young, chairman of Aiken County Council. "By serving its southeastern customers from its facility in Aiken County, the company has placed a great deal of confidence in the community and its workforce. County Council stands ready to assist SC Metal Products in any way we can and welcome them as our newest corporate neighbor."

"As the customer bases of our companies move south and freight costs increase, our decision to locate in South Carolina was simple," said Jim McGregor, president of McGregor Brothers Holdings. "If we wanted to keep the business, we had to make the investment. We see this move as the opportunity to solidify partnerships with our growing list of customers in the South. And just as we are excited to come to South Carolina, our customers are thrilled to have us much closer to their operations."

"We are very grateful for the support and direction we have received from the South Carolina Department of Commerce, the Aiken community, and especially the Economic Development Partnership of Aiken County," Dan McGregor added. "We look forward to working with this community to play a positive role in the economic life and vitality of Aiken and the state of South Carolina."

"South Carolina Metal Products is bringing an added dimension to our already solid metal-working base in Aiken County," said John Troutman, Economic Development Partnership chairman. "The company is strong in its current markets and we look forward to them adding additional capability and serving their customers from Aiken."