Mark IV Agrees to Sell
Professional Audio Business

Amherst, New York, December 19, 1996 -- Mark IV Industries, Inc. (NYSE: IV) today announced that it has agreed to sell its professional audio business, Mark IV Audio, to an affiliate of Greenwich Street Capital Partners, Inc. for $151.5 million in cash.

The agreement has customary conditions for transactions of this nature, including regulatory approvals. The transaction is expected to close in Mark IV's fiscal fourth quarter, and will result in a gain to the company, which will be reported in that quarter.

Mark IV Audio, a manufacturer and distributor of professional audio products, is one of several non-core businesses being sold as part of Mark IV's effort to focus on its core power transmission, fluid transfer and filtration technologies serving global industrial and automotive markets. Mark IV Audio had revenue of $195.5 million in the fiscal year ended February 29, 1996. Subsequent to closing, it is expected that the buyer will rename the business EV International, Inc.

Sal H. Alfiero, Mark IV's chairman and chief executive officer, said "Initially, cash proceeds from this transaction will be used to pay down bank debt. Upon completion of this sale, total proceeds received from the divestitures to date in the current fiscal year will be approximately $254 million. Over the longer term, the capital capacity created by the divestiture program may be used to make acquisitions in our core businesses, and/or to repurchase the company's common stock."

Mark IV Industries, Inc., headquartered in the Buffalo suburb of Amherst, New York, employs approximately 17,600 people worldwide, manufacturing power and fluid transfer systems and components for global industrial and automotive markets. Greenwich Street Capital Partners, Inc. is a New York-based private equity fund. For more information on Mark IV, visit the company's web site at http://www.mark-iv.com.