LOS ANGELES, August 23, 2002 - The acquisition of the Monadnock Co., City of Industry, Calif., by a subsidiary of LISI Industries of France "is a bellweather transaction that will be followed by many other cross-border deals in the aerospace industry," according to an executive of the investment banking firm representing Monadnock.

Gregory P. Range, managing director in the Los Angeles office of Duff & Phelps, LLC, pointed out that with this acquisition, LISI Industries now owns two premier manufacturers of aerospace fasteners in the U.S. The other is Hi-Shear Corp., Torrance, Calif., the LISI subsidiary that acquired Monadnock.

"The combination of Monadnock and Hi-Shear, which was acquired by LISI in 1996, positions LISI as a leading global supplier of advanced aerospace fasteners," Range said.

"Although it was formed less than 15 years ago, Monadnock soon became the predominant player in the specialty fastener business. Monadnock's focus - providing innovative solutions to special fastening problems - complements LISI's and Hi-Shear's capabilities in providing high-strength fasteners for aircraft structures."

LISI, based in Paris, is a publicly owned company with annual revenues of $540 million.

Range added that "As the commercial aerospace industry continues to rebound from the effects of September 11, cross-border transaction activity such as this one will accelerate as suppliers consolidate in order to reduce costs and meet customer's demands on a global basis."

Range's firm, Duff & Phelps, LLC, has been providing investment banking and financial advisory services since 1932. Based in Chicago, the firm's areas of specialty include mergers and acquisitions, valuations and fairness opinions and private placements.