"We are excited to be involved with The State of Ohio in this fuel cell technology development project," stated Ronald E. Weinberg, chairman and chief executive officer of Hawk Corporation. "We are confident that this project will lead to growth opportunities for us as fuel cells become an important source of alternative power generation in the United States. Our expertise in advanced material technologies used in the production of our friction products affords us with this exciting opportunity to be a leader in the development of fuel cell components."

Mr. Weinberg continued, "The State of Ohio deserves credit for its leadership position in supporting the development of leading-edge technologies. All of us at Hawk are pleased to be able to participate in this initiative."

The Ohio Fuel Cell Initiative is a $103 million program that aims to create jobs in Ohio while positioning the state as a national leader in the growing fuel cell industry. Fuel cells provide an alternate energy source of energy that is non-polluting and whose only by-product is water. The initiative is an integral part of the Third Frontier Project, which was initiated by the State of Ohio in February 2002.

Hawk Corporation is a major worldwide supplier of highly engineered products. Its friction products group provides friction materials for brakes, clutches, and transmissions used in airplanes, trucks, construction and mining equipment, farm equipment, and recreational and performance automotive vehicles. The company's performance racing group manufactures clutches and gearboxes for motor sport applications and performance automotive markets.