Recent Press Releases:

FREEDOM FORGE PURCHASED - June 27, 2002

Burnham, PA -- We are pleased to announce that our plan was confirmed today by the bankruptcy court which includes the sale of substantially all of our operating assets to the Farrell & Co. of Pittsburgh, PA. We believe this is the best outcome for all parties including employees, customers and vendors, while maximizing the value to all our creditors. We again want to pass along our sincere appreciation to all employees who have worked so hard to allow us to survive this long bankruptcy process. This is a new beginning for us and hopefully, our markets and business conditions will start to improve during the 2nd half of the year.