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U.S. Bancorp Piper Jaffray Represents Lehigh Consumer Products Corporation In Sale to Jarden Corporation

MINNEAPOLIS, Sept. 3 /PRNewswire/ -- U.S. Bancorp Piper Jaffray (Piper Jaffray), a leading middle market investment bank and mergers and acquisitions (M&A) advisory firm, served as exclusive financial advisor to Lehigh Consumer Products Corporation, a portfolio company of The AMC Group, in its sale to Jarden Corporation. The transaction closed on September 2, 2003.

Lehigh Consumer Products Corporation, based in Macungie, Penn., is a leading supplier of home improvement and do-it-yourself products through the leading warehouse home centers and mass merchants under the well-recognized brand names Crawford(R), Lehigh(R), Samson(R), Storehorse(R), Ultra-Hold(R), M&K(R) and Leslie-Locke(R). Its diverse product portfolio is centered on its complete line of cordage and related hardware. The company is North America's leading provider of cordage and related hardware products to the warehouse and mass-merchant channels. Over the past 10 years, the company has leveraged its expertise serving these channels to expand its product portfolio to include other categories such as workshop accessories, home storage products, security screen doors, window guards and ornamental metal fencing. Today, Lehigh is widely recognized as one of the leading providers of a diversified line of consumer durable and impulse products to the home improvement industry and serves as category manager for its key customers in each of its existing product categories.

"Unlike many suppliers serving the home improvement industry, Lehigh has embraced the consolidating retail landscape," stated Michael Dillahunt, a principal in Piper Jaffray's Middle Market M&A Group and head of the firm's building and home improvement products investment banking efforts. "Within its niche market segments, Lehigh has positioned itself as the vendor of choice to the leading home improvement retailers. The company's scale, broad product portfolio, low cost sourcing capabilities and value-added services, including category and inventory management, national distribution capabilities, and superior customer service, provide Lehigh with a clear competitive advantage relative to its competition in serving the growing needs of today's mega- retailers."

"Lehigh's category leadership position in niche home improvement categories was a tremendous fit with Jarden's market leadership within niche consumer product categories in the mass merchant, grocery and other consolidating retail channels," added Matthew Sznewajs, of Piper Jaffray's Middle Market M&A Group. "The acquisition of Lehigh enhances Jarden's ability to provide leading retailers with a comprehensive portfolio of niche household products across multiple categories."

About The AMC Group:

The AMC Group, based in King of Prussia, Penn., is a privately owned, diversified industrial and investment group that has been in business for over 75 years. The AMC Group owns and operates a diversified group of businesses with interests in industrial manufacturing, process manufacturing, consumer products, franchising, insurance, and real estate. The AMC Group operates under the philosophy of decentralizing decision making to its operating companies while adding value from the core through strategy formulation, transfer of successful business practices, capital infusion, and regular oversight.

About Jarden Corporation:

Jarden Corporation, based in Rye, New York, is a leading provider of niche consumer products used in and around the home under well-known brand names including Ball(R), Bernardin(R), Diamond(R), FoodSaver(R), Forster(R) and Kerr(R). In North America, Jarden is the market leader in several categories, including home canning, home vacuum packaging, kitchen matches, branded retail plastic cutlery and toothpicks. Jarden also manufactures zinc strip and a wide array of plastic products for third party consumer product and medical companies, as well as its own businesses.

U.S. Bancorp Piper Jaffray, a subsidiary of the consolidated group of U.S. Bancorp (NYSE: USB), is a focused securities firm comprised of two revenue- generating segments -- Capital Markets and Private Client Services. Clients of both segments are supported by Investment Research, an independent group reporting to the CEO. The firm provides a full range of investment products and services to individuals, institutions and businesses. The firm has over 124 offices in 25 states across the country. U.S. Bancorp offers a comprehensive range of financial solutions through U.S. Bank, U.S. Bancorp Asset Management, U.S. Bancorp Investments and U.S. Bancorp Piper Jaffray. For more information on U.S. Bancorp Piper Jaffray, visit www.piperjaffray.com .

Additional information is available upon request.

SOURCE U.S. Bancorp Piper Jaffray

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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