CUNO Cuno (MM)

CUNO Incorporated and WTC Industries Announcement MERIDEN, Conn., and EAGAN, Minn., July 12 /PRNewswire-FirstCall/ -- CUNO Incorporated (NASDAQ:CUNO) and WTC Industries, Inc. (OTC: WTCO) (BULLETIN BOARD: WTCO) jointly announced that the waiting period imposed by the Hart-Scott- Rodino Act in connection with CUNO's pending acquisition of the voting securities of WTC expired on Friday, July 9 at 11:59 p.m. Parties have now satisfied their Hart-Scott-Rodino obligations and this condition to closing their merger has been accomplished. The special meeting of stockholders of WTC is scheduled for July 29, 2004 and, if approved by the WTC stockholders and the other conditions to closing are satisfied, the merger will be consummated within a few days thereafter. CUNO is a world leader in the design, manufacture and marketing of a comprehensive line of filtration products for the separation, clarification and purification of liquids and gases. CUNO's products, which include proprietary depth filters and semi-permeable membrane filters, are used in the potable water, healthcare, and fluid processing markets. WTC Industries, Inc. designs and manufactures water filtration products for point-of-use applications. CUNO and WTC want to provide shareowners and prospective investors with more meaningful and useful information and, therefore, this press release includes various comments regarding business conditions and the outlook for CUNO and/or WTC, which reflect currently available information. These forward-looking statements are subject to risks and uncertainties which could cause performance or actual results to differ materially from those expressed herein. Such risks and uncertainties include, among other things: volumes of shipments of products; changes in product mix and product pricing; costs of raw materials; the rate of economic and industry growth in the U.S. and the other countries in which the parties conduct business; economic and political conditions in the foreign countries in which the parties conduct a substantial part of its operations and other risks associated with international operations including exchange rate fluctuations; CUNO's and/or WTC's ability to protect its technology, proprietary products and manufacturing techniques; changes in technology; changes in legislative, regulatory or industrial requirements and risks generally associated with new product introductions and applications; and domestic and international competition in global markets. Neither CUNO nor WTC assumes any obligation to update the information contained in this press release. DATASOURCE: CUNO Incorporated and WTC Industries, Inc. CONTACT: Frederick C. Flynn, Jr. of CUNO, +1-203-238-8847, ; or Greg Jensen of WTC, +1-651-554-3144, Company News On-Call: http://www.prnewswire.com/comp/126696.html

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