May 26, 2003/ CINCINNATI, Ohio/ --Cincinnati Machine announced today that it has successfully completed the acquisition of the Power Flow(TM), a unique machining system designed for high-speed processing of long aluminum aircraft parts, from Modig Machine Tool AB, Virserum, Sweden. This addition complements Cincinnati Machine's already extensive line of aerospace manufacturing products, providing aircraft component producers another choice for achieving added productivity.

Terms of the acquisition grant Cincinnati Machine exclusive ownership of all intellectual property rights to the entire Power Flow product line, as well as sole responsibility for design and build of the Power Flow machining system. Financial details of the purchase remain confidential.

Power Flow machining systems, originally designed and manufactured by Modig, became available as a result of the company filing for bankruptcy.

"We're delighted to add another high caliber product to our portfolio," said Chip Storie, Vice President Aerospace Sales, Cincinnati Machine. "We greatly value Modig's reputation as a supplier of quality products and are confident that the Power Flow system will serve to further strengthen our relationship with aerospace manufacturers who rely on the CINCINNATI(R) name for productivity solutions."

The Power Flow system utilizes a new process in which multi-axis, high-speed machining of heavy aluminum extrusions is achieved using a single machining center equipped with a 380 degree rotational drum and two 30,000 rpm, 40 kW spindles that operate simultaneously and independently of one another. The system offers an extremely affordable solution by eliminating fixturing costs. Other Power Flow features include excellent chip containment and less expensive foundation costs than traditional equipment.

In addition to acquiring the rights to the Power Flow product line, Cincinnati Machine confirmed that it has received an order from an unnamed U.S. aerospace manufacturer for three Power Flow machining systems. The systems, due to begin shipping this year, will be used for high-speed production of aircraft stringers.

CINCINNATI(R) and Power Flow(TM) are trademarks and registered trademarks of UNOVA Industrial Automation Systems, Inc. (C) 2003, UNOVA Industrial Automation Systems, Inc., All Rights Reserved.

About Cincinnati Machine

Cincinnati Machine, part of UNOVA Industrial Automation Systems, designs and builds manufacturing systems including composites processing equipment, profilers, routers, and five-axis CNC machining centers, horizontal and vertical machining centers and turning centers. Cincinnati Machine customers include aerospace, heavy equipment and industrial components manufacturers worldwide. Additionally, the company provides the manufacturing industry's most comprehensive package of service and support through its Cincinnati PLUS program. For more information visit www.CinMach.com

UNOVA Industrial Automation Systems (IAS), headquartered in Chesterfield Township, Mich., combines the engineering, manufacturing and business systems infrastructure of two of the machine tool industry's most respected manufacturers--Cincinnati Machine and Lamb Technicon. In conjunction with the well-known Landis Grinding Systems operation, the company offers technology-driven solutions that add value and productivity to the global manufacturing market.

About UNOVA: www.unova.com

About Lamb Technicon: www.lambtech.com

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