CLEVELAND, Dec. 24 /PRNewswire-FirstCall/ -- Hawk Corporation (NYSE Alternext US: HWK) announced today that it has completed the sale of Quarter Master Industries, Inc. to COMP Cams, a leading provider of camshafts to the high performance racing market located in Memphis, Tennessee. (Logo: http://www.newscom.com/cgi-bin/prnh/20001129/HWKLOGO ) The sale completes Hawk's previously announced strategy to divest the performance racing segment in order to focus on its friction related businesses. The Company will retain its Hawk Performance(R) brake business, which manufactures brake and clutch materials for racing and other performance automotive applications and which has always been a component of its friction products segment. The Company's financial statements and all other information reflect the performance racing segment as a discontinued operation for financial reporting purposes. Terms of the transaction were not disclosed. The Company Hawk Corporation is a leading supplier of friction materials for brakes, clutches and transmissions used in airplanes, trucks, construction and mining equipment, farm equipment, recreational and performance automotive vehicles. Headquartered in Cleveland, Ohio, Hawk has approximately 1,200 employees at 14 manufacturing, research, sales and international rep offices and administrative sites in 8 countries. Forward Looking Statements This press release includes forward-looking statements that involve risks and uncertainties. These forward-looking statements are based upon management's expectations and beliefs concerning future events. Forward- looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company and which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to: the Company's ability to sell the remaining portion of its performance racing segment on a timely basis and at terms favorable to the Company. Actual results and events may differ significantly from those projected in the forward-looking statements. Reference is made to Hawk's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2007, its quarterly reports on Form 10-Q, and other periodic filings, for a description of other factors that could cause actual results to differ materially from those in the forward-looking statements. Any forward- looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. http://www.newscom.com/cgi-bin/prnh/20001129/HWKLOGO http://photoarchive.ap.org/ DATASOURCE: Hawk Corporation CONTACT: Ronald E. Weinberg, Chairman and CEO, +1-216-861-3553, Joseph J. Levanduski, CFO, +1-216-861-3553, both of Hawk Corporation Web site: http://www.hawkcorp.com/

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