News Releases


Mark IV Board Approves Purchase of up to Seven Million Common Shares

Amherst, New York, March 19, 1997 -- Mark IV Industries, Inc. (NYSE: IV) today announced today that its Board of Directors has approved the purchase of up to seven million shares, or about 11 percent of Mark IV's 63.2 million common shares outstanding. The stock will be purchased in the open market, or through privately negotiated transactions, at prices Mark IV considers to be attractive. It is expected that the stock repurchase program will span a 12-month period, commencing immediately.

Sal H. Alfiero, chairman and chief executive officer of Mark IV, said "At its current levels, Mark IV stock represents an excellent investment opportunity for the company. In combination with the continued strengthening and focus of our core businesses and our disciplined acquisition strategy, a repurchase program demonstrates our commitment to enhancing shareholder value."

Mr. Alfiero added, "Funding for the buyback will come from a portion of the proceeds from the sale of non-core businesses, and earnings generated over the period involved." The company recently announced it had realized $313 million from the sale of several non-core businesses.

Mark IV Industries, Inc., is a $2.1 billion global manufacturing company headquartered in the Buffalo suburb of Amherst, New York, employing 15,000 people worldwide. The company's core technologies include power transmission, fluid transfer and filtration systems and components for global industrial and automotive markets. For more information on Mark IV, visit the company's web site at http://www.mark-iv.com.


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