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Altra Holdings, Inc.

A leading global designer, producer and marketer of a wide range of electromechanical power transmission products.

PRESS RELEASE EXCERPT:

Published: Nov 25, 2009
Altra Holdings, Inc. Announces Closing of $210.0 Million 8 1/8% Senior Secured Notes Due 2016, Entry Into New Senior Secured Revolving Credit Facility, and Results to Date of Tender Offer by Subsidiary

BRAINTREE, MA, Nov 25, 2009 (GlobeNewswire via COMTEX News Network) -- Altra Holdings, Inc. ("Altra Holdings") (Nasdaq:AIMC), announced today the closing of its offering of $210.0 million 8 1/8% Senior Secured Notes due 2016 (the "Offering"). The Offering resulted in net proceeds to the Company, after deducting initial purchaser discounts and estimated expenses, of approximately $201.9 million.

Altra Holdings also announced today that its wholly-owned subsidiary, Altra Industrial Motion, Inc. ("Altra Industrial"), has accepted for purchase $167.9 million aggregate principal amount of its 9% Senior Secured Notes due 2011 (the "Notes"), or approximately 82% of the total outstanding, which were validly tendered prior to the early tender deadline of 5:00 p.m., Eastern Standard time, on November 24, 2009 (the "Early Tender Deadline"), pursuant to Altra Industrial's previously announced cash tender offer (the "Tender Offer"). Altra Industrial's total obligations for this portion of the Tender Offer equal $179,401,150 (the "Early Tender Total Consideration"), and consist of: (i) $167,900,000 of base consideration for the aggregate principal amount of the Notes tendered pursuant to the Tender Offer; (ii) $7,303,650 of accrued and unpaid interest on the tendered Notes; and (iii) $4,197,500 of early tender premium. Altra Industrial used all of the Offering's net proceeds, together with cash on hand, to pay the Early Tender Total Consideration.