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

August 10, 2001

CITATION ANNOUNCES SALE OF TEXAS STEEL DIVISION

BIRMINGHAM, Alabama -- Citation Corporation announced today the sale of its Texas Steel division in Fort Worth, Texas, to Racine Steel of Racine, Wisconsin. The company had owned and operated Texas Steel since 1995.

President and CEO Rick Sommer stated, "This is a move that has been in the works for some time now. Texas Steel does not fit within Citation's core businesses, and it is best for Texas Steel to be a part of a group that is committed to manufacturing large steel castings and growing their business in that market."

Based in Birmingham, Alabama, Citation Corporation is a metal components supplier to capital and durable goods industries. The company currently operates sixteen manufacturing divisions in ten states and employs approximately 6,500 employees.