TriMas Announces Corporate Realignment and Cost Savings

BLOOMFIELD HILLS, Mich., June 25 -- TriMas Corporation -- a diversified growth company of specialty niche businesses -- today announced a realignment of its corporate structure in support of its ongoing operational improvement and cost reduction initiatives.

The Company realigned its corporate structure, which included the elimination of certain management positions and other corporate personnel. The actions associated with this realignment are expected to result in annualized cost savings at the corporate headquarters level of approximately $3.0 million with one-time charges related to these actions of approximately $2.2 million, including costs associated with the recent chief financial officer transition. The Company maintains its previously disclosed 2008 earnings guidance range of $0.85 to $0.95 earnings per share, excluding the one-time charges discussed above.

"These actions allow us to streamline decision-making and reduce overall costs," commented Grant Beard, TriMas President and Chief Executive Officer. "We are critically evaluating each business and process and taking prudent actions to drive cost and productivity improvements, while balancing our efforts to grow organically. These actions offset some of the economic pressures we are facing, and position us for long-term earnings enhancement and increased shareholder value."