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May 2, 2006

American Securities Sells Unifrax

American Securities Capital Partners, announced today it has completed the sale of ASP Unifrax, Inc. along with its operating company subsidiary, Unifrax Corporation. The Company is the leading global manufacturer of high temperature insulating fiber (HTIF) products that are critical in the production of metals, ceramic, glass and petrochemicals, insulation, fire protection and in the world's burgeoning, automotive emissions control industry. Terms of the transaction were not disclosed.

Unifrax, which is headquartered in Niagara Falls, New York, had estimated sales of $220 million in 2005 and operates 13 facilities located in the United States, Europe, Latin America and Asia. American Securities has owned the Company since September 2003.

There are many aspects of this partnership of which we are particularly proud, observed Paul Rossetti, Managing Director of American Securities. Working with Unifrax to establish a presence in China is certainly a highlight, followed closely by identifying and resourcing of other growth initiatives. For example, Unifrax has become one of only two major suppliers of ceramic fiber support mats to the world's critical automotive emissions control industry.

As a partner, American Securities played a valuable role in helping us develop our global strategic growth plan, commented William P. Kelly, Chairman and Chief Executive Officer of Unifrax Corporation. The firm's vision, analysis and practical experience played a strong role in our growth. This has been a highly successful partnership from our perspective. What is more, they have helped us find an excellent new financial partner in AEA Investors, an international private equity investment firm, that shares our vision for the future of our Company, as well.

Unifrax was represented in this transaction by investment bankers Wachovia Securities with Houlihan Lokey Howard & Zukin as co-manager. The Company's legal advisor was Kaye Scholer, LLP

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