CITATION CORPORATION
2 Office Park Circle, Suite 204
Birmingham, AL 35223
Contact: Tom Surtees
205-871-5731
Fax: 205-871-5772

February 4, 2002

CITATION CORPORATION ANNOUNCES PRESIDENT AND CEO RETIREMENT; NAMES NEW PRESIDENT AND CEO

BIRMINGHAM, Alabama -- The Board of Directors of Citation Corporation, following its regularly scheduled meeting, announced the retirement of Frederick F. (Rick) Sommer as President and CEO, effective March 31, 2002. Sommer also tendered his resignation as a Citation Director, effective immediately.

Ed Buker, formerly Vice President and General Manager of Visteon Corporation's chassis systems division, was selected by the Board to serve as Citation's new President and CEO, effective March 1. In addition, he will join the Board of Directors. Buker and Sommer will work together to ensure a smooth transition over the next month.

Speaking in behalf of the Board of Directors, Frank Bynum said, "I want to publicly thank Rick for his efforts, especially those related to the transition of Citation to a private company and financial holding of Kelso & Company." At the request of the Board, Sommer has agreed to be available as needed beyond March 31.

The Board was pleased to appoint Buker as President and CEO, given his previous leadership roles. Prior to his position at Visteon, one of Citation's customers, Buker served as President of Electrical Systems of America for United Technologies Automotive, and prior to that was Vice President, Manufacturing for BMW. He also held various positions at Honda of America, including Vice President of Automotive Quality, and Plant Manager of automotive and motorcycle plants in Ohio.

"I'm excited to join Citation," said Buker, "and I look forward to helping the company continue to exceed its customers' needs, provide an attractive return to shareholders and a satisfying place for employees to work."

Citation Corporation is a leader in the design, development and manufacture of cast, forged and machined components for the capital and durable goods industries, including automotive and industrial markets. Citation has approximately six thousand employees serving seventeen divisions in nine states. The company produces aluminum, steel and iron castings; steel forgings; and machined and assembled components for automobiles and light, medium and heavy trucks; off-highway construction equipment; agricultural equipment; pumps; compressors; industrial valves; machine tools; aircraft; oil tools and other durable goods. Annual sales exceed $800 million.