SOURCE: RHJ International SA

November 15, 2006 04:53 ET

Asahi Tec Corporation: Announcement of Postponement of the Closing Date referred to in the "Announcement of Acquisition of Metaldyne Corporation's Stock"

BRUSSELS, BELGIUM -- (MARKET WIRE) -- November 15, 2006 --



Brussels - November 15, 2006 - RHJ International (the "Company"), a limited liability company organized under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, announces that Asahi Tec Corporation, filed with the Tokyo Stock Exchange on November 15, 2006 the announcement of the postponement of the closing date of the Metaldyne transaction.

A translation in English of the document issued by Asahi Tec is available in attachment.

Asahi Tec Corporation is one of the current seven portfolio companies of the Company. Asahi Tec Corporation, established in 1938, primarily designs, manufactures and sells ductile iron cast auto parts for truck and construction machinery OEMs, aluminium casting parts for truck automobile OEMs and aluminium wheels for automobile OEMs. Asahi Tec also designs, manufactures and sells environmental systems, equipment and development technologies used by local governments and municipalities and electrical hardware and equipment used by electricity generators.

Asahi Tec Corporation is listed on the first section of the Tokyo Stock Exchange under the ticker 5606.

The Company currently holds approximately 62.8% of Asahi Tec's issued and outstanding shares (not including the exercise of any stock acquisition rights).

DISCLAIMER

This announcement does not constitute an offer or invitation to purchase any securities.

FORWARD-LOOKING STATEMENTS

The attached announcement contains forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on the current plans, estimates and projections of Asahi Tec Corp. as well as on its expectations of external conditions and events. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Neither the Company nor Asahi Tec Corp. undertakes to update any of the statements in light of new information or future events, except to the extent required by applicable law.



For further information, please contact :

Arnaud DENIS
Investor Relations Manager
RHJ International
e-mail : adenis@rhji.com

November 15, 2006





Company Name:   Asahi Tec Corporation
Representative: Akira Nakamura
                President and CEO
                Code No. 5606 Tokyo Stock Exchange 1st Section
Contact:        Takao Yoshida
                Managing Executive Officer
                (Tel: 0537-36-3112)

Announcement of Postponement of the Closing Date referred to in the "Announcement of Acquisition of Metaldyne Corporation's Stock"

Asahi Tec Corporation (listed on Tokyo Stock Exchange 1st Board, with its head office at Kikugawa-shi, Shizuoka Prefecture, and represented by Chairman of the Board of Directors, Shoichiro Irimajiri, hereafter "Asahi Tec" or the "Company") announced that the closing date for the acquisition of Metaldyne Corporation (hereafter "Transaction"), which was anticipated as November 17, 2006 in the press releases "Announcement of Acquisition of Metaldyne Corporation's Stock (Metaldyne Corporation to become Wholly-owned Subsidiary of Asahi Tec)" and "Revision to 'Announcement of Acquisition of Metaldyne Corporation's Stock (Metadlyne Corporation to become Wholly-owned Subsidiary of Asahi Tec)'" dated September 1, 2006 and October 13, 2006, respectively, has been postponed and now is expected to close no later than January 16, 2007, principally due to delays in obtaining required consents from holders of Metaldyne's Senior Notes due 2013 (USD 150 million in total, interest rate: 10%) and Metaldyne's Senior Subordinated Notes due 2012 (USD 250 million in total, interest rate: 11%) (hereafter the "Consent Solicitation").

In the press release "Announcement on Change of Parent Company" dated September 1, 2006, Asahi Tec announced that RHJ International SA, the current "Parent Company" of Asahi Tec, is expected to cease to be a "Parent Company" as of November 17, 2006 and become an "Other Affiliated Company" (where Asahi Tec would become an "Affiliated Company", of such "Other Affiliated Company"), due to the decrease in RHJ International SA's percentage ownership in Asahi Tec resulting from the Transaction. Also, in the press release "Announcement on Change of Major Shareholder" dated September 1, 2006, Asahi Tec announced that MITSUI & CO., LTD. and Metaldyne Investment Fund I, LLC, Heartland Industrial Partners, L.P. are expected to become "Major Shareholders" as of November 17, 2006, due to the increase in their respective percentage ownership in Asahi Tec resulting from the Transaction. However, due to the postponement of the closing date of the Transaction as stated above, the expected date for changes in the Parent Company and the Major Shareholders will be postponed accordingly.






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