Released on July 2, 2009

Neenah Enterprises Inc. and Neenah Foundry Co., Neenah, Wis., announced that their debt restructuring is proceeding as planned and that the company has hired a financial advisor “to assist in further enhancing its liquidity position.”

“The company is encouraged by the progress that it has made in streamlining its operations and reducing expenses to address the challenging economic environment that its industry is facing,” said Bob Ostendorf, Neenah’s president and chief executive officer.

The company announced it has met recent interest payments on a number of senior secured notes, deferred interest on others and hired Rothschild Inc. as its financial advisor.

“We believe these recent initiatives have helped to provide the company with sufficient liquidity to fund our operations going forward,” Ostendorf said.

Neenah Foundry Co. and its subsidiaries manufacture and market a wide range of iron castings and steel forgings for the heavy municipal market and selected segments of industrial markets. Following the payment of interest on several notes on July 1, the company expects its restructuring to continue without foreseeable incident.