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Crane to Acquire Noble Composites

18 August 2006

Crane Co. has agreed to purchase all of the capital stock of Noble Composites, Inc, a private company specializing in the manufacture and sale of premium, high-gloss finished composite panels used by motorhome and travel trailer manufacturers, for $72 million.

Noble's office and manufacturing operation is located in Goshen, Indiana, where it employs approximately 155 people. Founded in 2002, Noble had sales of approximately $45 million in the past twelve months.

Mr. Eric Fast, President and Chief Executive Officer of Crane Co., said, ""Noble Composites is complementary to our fibreglass reinforced plastics business, which has served recreational vehicle (RV) manufacturers for years. Noble's products broaden our product offering and enhance our ability to serve the RV industry in the years to come. We expect this acquisition will be neutral to our earnings in 2006.""