Released on November 16, 2007

Neenah Foundry Co., Neenah, Wis., and its parent company Neenah Enterprises Inc. today announced a restructuring plan that will result in salaried worker cutbacks.

According to a press release issued by the parent company, the actions are intended to reduce costs and improve general operating efficiencies. The cutbacks will free up annual pre-tax costs of approximately $2.5 to $3 million. The company also expects to incur employee termination costs of approximately $1.25 to $1.75 million.

In a move the company says is unrelated to the cutbacks, William Barrett, Neenah’s former president and CEO and current executive chairman of the board, has announced his intention to retire. He now will become non-executive chairman of the board.

Neenah Foundry Co. and its subsidiaries manufacture and market iron castings and steel forgings for the heavy municipal market and selected industrial market segments.