Subject: [NEXTEL-1] Rohn Goes Bankrupt

From: [email-masked]
Date: Tue, 23 Sep 2003 18:37:00 -0400

ROHN Files for Chapter 11 Protection

September 16, 2003

World Headquarters
6718 W. Plank Rd.
Peoria, IL 61604 USA
Ph: 309-697-4400
FAX: 309-697-5612

FOR IMMEDIATE RELEASE

For Further Information:
Horace Ward
President and Chief Executive Officer
(309) 633-6886
[email-masked]

ROHN INDUSTRIES, INC. FILES FOR CHAPTER 11 PROTECTION;
$9.5 MILLION DEBTOR-IN-POSSESSION FINANCING SECURED;
BOARD MEMBERS RESIGN

PEORIA, IL, September 16, 2003 — ROHN Industries, Inc., (OTCBB: ROHN), 
(the "Company") a provider of infrastructure equipment to the 
telecommunications industry, announced today that the Company and five 
of its direct and indirect subsidiaries have filed voluntary petitions 
for Chapter 11 relief in the United States Bankruptcy Court for the 
Southern District of Indiana (the "Bankruptcy Court").

The Company also announced that, concurrent with the Chapter 11 filing, 
it has entered into a $9.5 million debtor-in-possession ("DIP") line of 
credit with the lenders that are party to the Company's Amended and 
Restated Credit Agreement, subject to the approval of the Bankruptcy 
Court, which will include funds that will be rolled forward from the 
Company's current credit facility. Subject to the provisions of the 
Bankruptcy Code, the Company remains in possession of its assets and 
properties, and continues to operate its business. The Company said that 
the objective of the Chapter 11 proceeding is to maximize recovery to 
creditors by facilitating an orderly sale of assets. The Company is 
currently in discussions with an unrelated third party regarding a 
proposed sale of the assets of the Company.

Upon the filing of the bankruptcy petition of the Company, but following 
the approval by the Board of Directors of the Chapter 11 filing, Stephen 
Gorman and Jordan Roderick each have resigned from the Board of 
Directors of the Company. Currently, Horace Ward, the Chief Executive 
Officer of the Company, is the only remaining director of the Company.

Commenting on today's announcement, Mr. Ward said, "Our immediate goal 
is to stabilize the Company's financial situation and utilize the 
Chapter 11 process to enable the Company to conduct normal business 
operations as the Company works to complete a sale transaction."

The Company has retained the Indianapolis law firm of Ice Miller to act 
as its legal counsel in the bankruptcy proceedings. The Company has also 
retained Silverman Consulting, a national turnaround consulting firm.

About the Company

The Company is a manufacturer and installer of telecommunications 
infrastructure equipment for the wireless industry. Its products are 
used in cellular, PCS, radio and television broadcast markets. The 
Company’s products include towers, poles, related accessories and 
antennae mounts. The Company also provides design and construction 
services. The Company has a manufacturing location in Frankfort, IN 
along with offices in Peoria, IL and Mexico City, Mexico.

http://www.woodworksinteractive.com/cgi-bin/rohn/press/press.cgi?id=26

------------------------ Yahoo! Groups Sponsor ---------------------~-->
ReplayTV: CNet Ranked #1 over Tivo!
Instant Replay & Pause live TV.
Special Sale: 50% off!
http://us.click.yahoo.com/UUMW7B/.5qGAA/ySSFAA/61FxlB/TM
---------------------------------------------------------------------~->

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/