American LaFrance announces new Charleston area location

North Charleston, SC – American LaFrance, LLC announced today that it has selected the site for its new corporate headquarters and state-of-the-art emergency and vocational vehicle assembly plant. The Company plans to lease approximately 45 acres adjacent to the Charleston Southern University campus at U.S. Highway 78 just off I-26 in North Charleston from a design-build developer. Comprised of affiliates of Clayco Realty Group, Inc., Venture One Properties, LLC, Landmark Enterprises, Inc., and First Commercial Investments, LLC, the developer will oversee design and construction of the project for the Company. The Company, the University, and the developer are in the process of finalizing the site and development arrangements. Construction is projected to begin in the near future for completion in the second quarter of 2007.

The Company’s new, $35 million complex will include a 57,500-square-foot headquarters and 420,000-square-foot assembly plant. American LaFrance plans to begin a phased occupancy beginning in April 2007. In addition to its current 430 person employment base in Charleston County, the Company expects to create at least 200 new jobs as it expands its refuse and vocational vehicle line and other products.

“We are very excited about our new location and facilities. It is a relationship that brings together the very best of business, education and community. It creates an environment that fosters continuing educational growth, leading edge business practices, and career enhancing work programs that will lead to jobs and careers right here in our own community,” said John Stevenson, President and CEO of American LaFrance, LLC.

“Having a manufacturing company adjacent to a university campus is very unique in today’s business world,” Stevenson continued. “This is the type of partnership that is needed to keep American companies competitive and to secure jobs for our children. We are honored that Charleston Southern University has chosen to partner with us in this program. Their educational program focuses on five life preparation concepts: values and ethics, communication, leadership, service, and wellness. In fact, these are also the same principles that are the backbone of the fire and EMS community. These common beliefs will form a foundation of understanding that will allow American LaFrance to excel in meeting the needs of our customers.”

Charleston Southern University President, Dr. Jairy C. Hunter, Jr., sees value in the opportunities for students this American LaFrance deal will provide, and believes it will lead to the creation of new programs. “Revenue the University will receive from leasing and developing our excess property will be used for student scholarships and other University priorities,” Hunter said.

“The scholarships, internships and job opportunities this venture provides to our students is the most exciting element of this agreement,” Hunter said. “American LaFrance’s presence on campus will directly benefit our students, and our students are our most important investment.”

“This is a fantastic opportunity for Charleston Southern University,” said Bob Edwards, chairman of the University’s Board of Trustees. “American LaFrance is a nationally regarded, top quality emergency vehicle manufacturer. We are extremely pleased they have chosen to relocate their world-class operation to Charleston Southern University’s business park.”

“Undoubtedly, this is a win-win situation for American LaFrance and for Charleston Southern,” said Ken Evans, chairman of the Board of Directors for the Charleston Interstate Development Corporation (CIDCOR), which is overseeing the development of the University’s Medical/Business Park. “This exciting endeavor will link a leading manufacturer with an innovative, thriving university campus, in a mutually beneficial, highly efficient long term relationship.”

The design and architecture of the new complex will reflect the rich heritage of American LaFrance. The complex will feature a state-of-the-art, custom fire products fabrication and assembly plant, a store for American LaFrance memorabilia, a vehicle test track, a pump test pit, a research and development center and a modification and refurbishing center. The headquarters building will include a customer showroom with four large bays, multiple conference rooms, offices and a lounge. Additionally, several vintage American LaFrance fire trucks will be kept on display and utilized for public events.

“This will prove to be both an exciting and epic moment in the vast history of American LaFrance”, said Lynn Tilton, Principal, CEO and Founder of Patriarch Partners, LLC, a New York investment firm that through affiliated funds acquired American LaFrance in December 2005. “We are honored to continue our heritage in South Carolina and the City of North Charleston.

“This announcement reflects our company’s commitment and dedication to the support of fire, rescue and EMS communities nationwide. This facility is yet another step forward by American LaFrance to seize its rightful place as a true leader in the fire, rescue and EMS industry and to promote significant growth and expansion with its vocational products.”

Stevenson noted that the project came together only with the support of state and local officials. “We are very grateful to both the state and local community for their help in expediting and facilitating the site selection process,” he said. “American LaFrance is also very happy to continue our relationship with the City of North Charleston and Charleston County. The relationship with the city and county and the commitment to protect the jobs of local employees of American LaFrance were key factors in the decision to keep the company in North Charleston.”

Bill McCall, chairman of the Charleston Regional Development Alliance, welcomed the news that American LaFrance will remain in the Charleston region. “Since coming to our community in 2002, American LaFrance has provided a broad range of employment opportunities for area residents, from management and office occupations to vehicle assembly positions. The Company is also a significant player in the region’s growing automotive sector. We are thrilled American LaFrance has decided to stay and expand its presence here.”

“Our hearty congratulations to American LaFrance and the Patriarch Partner organization on their decision to construct their new manufacturing complex and corporate headquarters in Charleston County!” said Leon E. Stavrinakis, Chairman of Charleston County Council. “We have enjoyed our government/ business partnership with American LaFrance since 2002, and any time an existing county-based company makes a new investment of this magnitude and commits to significant job growth within our borders, we take it as the highest vote of confidence in the county’s business climate. American LaFrance has discovered ‘the Charleston difference’ and we believe the company will continue to grow and thrive in its new facility.”

“North Charleston is extremely pleased that American LaFrance has chosen to remain a member of our growing business community,” said North Charleston Mayor, Keith Summey.” This Company not only provides our residents with exceptional career opportunities, it is also a stellar corporate citizen. The Company’s commitment to our region is becoming even more apparent with the opening of a new museum housing the American LaFrance vintage fire truck collection later this year. We are proud of our ongoing relationship, and stand by to assist the Company in any way we can.”

In its efforts to attract and expand business investment in the Charleston region, the Alliance works with numerous economic development allies. The State of South Carolina is an especially important partner and today’s announcement was heralded by state officials.

“South Carolina continues to be a leading choice for global companies looking to grow their business,” said Governor Mark Sanford. “Our administration’s efforts to improve the state’s business climate have resulted in American LaFrance’s renewed commitment to remaining an active part of South Carolina’s business community.”

“The creation of 200 new jobs in our thriving automotive and transportation sector is great news for our state,” said Secretary of Commerce Joe Taylor. “We wish American LaFrance continued success in their new headquarters and manufacturing plant and thank them for their confidence in South Carolina’s many benefits as a prime location to do business.”

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About American LaFrance
American LaFrance has built fire and rescue apparatus since 1832. Today the company manufactures and distributes a comprehensive line of fire and emergency apparatus including chassis, aerials, ambulances, pumpers, rescues, tankers and wildland vehicles. The company also manufactures a line of vocational vehicles. For additional information, visit www.americanlafrance.com.

About Patriarch Partners
Patriarch Partners, LLC is an investment fund based in New York and in Charlotte, North Carolina. Patriarch provides portfolio management services to 8 leveraged funds and a private equity fund, which funds own and manage a diverse portfolio of international companies and credit facilities with an aggregate asset value of approximately $5.0 billion including equity ownership positions (majority and minority) in more than 67 companies.

About Charleston Southern University
With more than 3,000 students, Charleston Southern is one of the largest accredited, private universities in South Carolina. The South Carolina Baptist Convention founded the University in 1964. The university offers 32 undergraduate and three graduate programs.

About the Charleston Interstate Development Corporation (CIDCOR)
Charleston Southern University’s Board of Trustees established the Charleston Interstate Development Corporation (CIDCOR) for the express purpose of developing the excess property on campus, which is the Medical/Business Park.

About the Charleston Regional Development Alliance
The Charleston Regional Development Alliance represents Berkeley, Charleston and Dorchester counties with a mission to create improved opportunities for all residents in this three-county region. Since its inception, the Alliance has worked with thousands of companies to help promote business investment and quality growth in the area. To learn more, go to www.charleston-for-business.com.

Contact:
Karen Haun
American LaFrance, LLC
843-486-7410
[email protected]