Industrial Electric Wire & Cable Signs Purchase Agreement with Colonial Wire & Cable

November 20, 2006

Industrial Electric Wire and Cable (IEWC) has signed a purchase and sale agreement with Colonial Wire & Cable Inc. (Colonial) of Sterling, MA. Colonial is an ISO 9001:2000 certified distributor of wire, cable and tubing products focusing primarily on military, aerospace and commercial applications. Colonial has developed an earned position within these markets by building strong partnerships with customers and suppliers alike. Plans call for Colonial's President, Mr. J.R. Dubovick to join Industrial Electric's Management Team as General Manager of the Colonial MIL/AERO Business Unit.

Colonial Wire & Cable, Inc. was originally founded in 1978 by James J. Dubovick and has built a strong industry reputation for offering complete supply solutions that include many value-added services such as striping, twisting, printing, etching, spooling, dyeing, cabling, designing and marking of wire, cable and tubing products. The company maintains a first rate total quality management system as required by Mil-l-45208. Over the years, Colonial has upgraded its electronic communication capabilities and streamlined its material testing and certification processes in order remain responsive to the demands of its customers. David Nestingen, President of IEWC, recently stated that, "Our decision to unite with Colonial Wire & Cable signals Industrial Electric's strong commitment to expand its service offering globally into both the Military and Commercial Aerospace markets. We believe our customers and our suppliers will find favor in the 'solution focus' of our combined companies."

IEWC and Colonial plan to close the transaction on November 30th.

For further information about this development please contact David Nestingen, President, at 800-344-2323.

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