News Release

SALEM, NH, October 7, 1997 . . . Standex International Corporation (NYSE:SXI) announced that it has completed the acquisition of the net assets of the ACME Manufacturing Company of Philadelphia for an undisclosed amount of cash.

ACME Manufacturing is a manufacturer of heating, ventilation and air conditioning pipe, duct, and fittings for the home building industry in the Northeast, Mid-West and Southern United States. ACME, with annual sales of approximately $60 million, has seven manufacturing facilities.

In announcing the purchase, Edward J. Trainor, Standex's President and CEO, said "This acquisition will provide our Standex Air Distribution group, which manufactures and markets a similar line of products as ACME, with an entry into new geographic areas of the United States. This will result in Standex being the only company with a nationwide manufacturing and distribution network for these products. We expect that the acquisition will be accretive to earnings immediately and we anticipate significant manufacturing efficiencies in the future by capitalizing on the developed strengths of the consolidated entities."¹

Standex International Corporation, with sales for the fiscal year ended June 30, 1997 of $565 million and operations in the United States, Western Europe, Canada, Australia, Singapore and Mexico, is a diversified manufacturer in three basic areas: Food Service, Industrial Products and Consumer Products