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INTERPOINT CORPORATION NAMES NEW PRESIDENT

REDMOND, Wash., November 1, 2000 - Lou Bieck has been named President of Interpoint Corporation, a Crane Co. company (NYSE:CR), and an operating unit within Crane Aerospace. Bieck previously served as President and General Manager of Solectron Washington.

Raymond W. Boushie, President of Crane Aerospace says, "Lou has achieved numerous past successes in related industries and is a welcome addition to the Interpoint team. He is a people-oriented person and is committed to the disciplines that are necessary to make Interpoint a great company. Lou will be working closely with Arlan VanKoevering, Crane Aerospace Executive Vice President, to ensure that we maintain focus on customer satisfaction and attain maximum improvement on our internal processes."

Bieck's extensive background in materials management and manufacturing operations, plus his marketing strategies, have led to significant company growth in his facilities. His experience includes positions as President/General Manager at Lasertechnics, Inc., Group President/General Manager at GCA Corporation, and Manager of Manufacturing and Operations at Xerox Corporation. He graduated from St. John Fisher College, Rochester, and received his MBA from the University of Rochester.

Interpoint is a leading manufacturer of high reliability power conversion products and custom microelectronics for the medical, industrial, datacom and aerospace markets with wholly owned manufacturing facilities in Redmond, Washington and Kaohsiung, Taiwan. Interpoint is part of Crane Aerospace, a group of companies which also includes Hydro-Aire, ELDEC, and Lear Romec, all world leaders in critical aircraft systems and components. Crane Aerospace is a part of Crane. Co., a diversified manufacturer of engineered industrial products.

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