TriMas Corporation Reports First Quarter Results

BLOOMFIELD HILLS, MICH. – April 30, 2007 – TriMas Corporation today announced financial results for the quarter ended March 31, 2007. On a continuing operations basis, TriMas reported record sales of $286.7 million, operating profit of $33.3 million, income of $8.4 million or $.40 per share on a fully diluted basis, and Adjusted EBITDA of $42.0 million; compared to 2006 first quarter sales of $273.0 million, operating profit of $28.7 million, income of $4.9 million or $.24 per share on a fully diluted basis, and Adjusted EBITDA of $37.8 million.

First Quarter Highlights

TriMas' President and Chief Executive Officer, Grant Beard, stated, "We are very pleased to report record quarterly sales and yet another quarter of improved profit performance on a year-over-year basis. Sales increased 5%, 4% and 19% in our Packaging Systems, Energy Products and Industrial Specialties segments, respectively. Operating profit increased in all segments except RV & Trailer Products, with Recreational Accessories up 24% and Industrial Specialties up 46% leading the way. Compared to the prior year's first quarter, earnings per share increased 67% and we continued to reduce debt levels. Against a backdrop of low end market demand in our Recreational Accessories and RV & Trailer Products' businesses, we are very proud of these accomplishments. Additionally, we completed the sale of our industrial fastener business and no longer have any business units classified as discontinued operations."

Segment Results – Continuing Operations

Packaging Systems - Sales increased 5.2% as a result of further market penetration of new products. Operating profit increased in line with revenue growth.

Energy Products - Sales increased 4.1% due to continued sales growth in our refinery and petrochemical business, offset by a decline in sales of engine and repair parts as a result of reduced oil and gas drilling activity in Canada. Operating profit improved due to increased sales of specialty gaskets and a more profitable sales mix.

Industrial Specialties - Overall, sales increased 18.9% due to strong market demand and continued market and product expansion in our aerospace fastener, industrial cylinder and defense businesses. Operating profit increased at a significantly higher rate as a result of increasing sales of higher margin products and improved operational leverage.

RV & Trailer Products - Sales declined as a result of continued soft end market demand offset in part by market share gains. Operating profit declined due to lower sales and launch costs associated with a new manufacturing facility in Thailand.

Recreational Accessories - Sales increased as a result of capturing new business offset in part by continued weak end-market demand. Operating profit improved compared to the prior year's first quarter as a result of realizing the full benefit of sourcing initiatives and other cost reduction activities implemented throughout 2006.

Financial Position

TriMas ended the quarter with total debt of $723.5 million and funding under our receivables securitization of $44.4 million for a total of $767.9 million. Total debt and receivables securitization decreased by $11.0 million when compared to the year ago period. TriMas ended the quarter with cash of $3.9 million and $88.9 million of availability under our existing credit facilities.

Conference Call

TriMas will broadcast its first quarter earnings conference call on Monday, April 30, 2007 at 2:00 p.m. EDT. President and Chief Executive Officer Grant Beard and Chief Financial Officer E.R. "Skip" Autry will discuss the Company's recent financial performance and respond to questions from the investment community. The visual presentation that will accompany the call will be available on the Company's website at www.trimascorp.com.

To participate by phone, please dial: (866) 814-1933. Callers should ask to be connected to the TriMas first quarter conference call (reservation number 1080509). If you are unable to participate during the live teleconference, a replay of the conference call will be available beginning April 30th at 5:00 p.m. EDT through May 7th at 11:59 p.m. EDT. To access the replay, please dial: (866) 837-8032 and use reservation number 1080509.

Cautionary Notice Regarding Forward-Looking Statements

This release contains "forward-looking" statements, as that term is defined by the federal securities laws, about our financial condition, results of operations and business. Forward-looking statements include: certain anticipated, believed, planned, forecasted, expected, targeted and estimated results along with TriMas' outlook concerning future results. When used in this release, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for these views. However, there can be no assurance that management's expectations, beliefs and projections will be achieved. These forward-looking statements are subject to numerous assumptions, risks and uncertainties and accordingly, actual results may differ materially from those expressed or implied by the forward-looking statements. We caution readers not to place undue reliance on the statements, which speak to conditions only as of the date of this release. The cautionary statements set forth above should be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. We do not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Risks and uncertainties that could cause actual results to vary materially from those anticipated in the forward-looking statements included in this release include general economic conditions in the markets in which we operate and industry-based factors such as: technological developments that could competitively disadvantage us, increases in our raw material, energy, and healthcare costs, our dependence on key individuals and relationships, exposure to product liability, recall and warranty claims, compliance with environmental and other regulations, and competition within our industries. In addition, factors more specific to us could cause actual results to vary materially from those anticipated in the forward-looking statements included in this release such as our substantial leverage, limitations imposed by our debt instruments, our ability to successfully pursue our stated growth strategies and opportunities, as well as our ability to identify attractive and other strategic acquisition opportunities and to successfully integrate acquired businesses and complete actions we have identified as providing cost-saving opportunities.

About TriMas

Headquartered in Bloomfield Hills, Mich., TriMas is a diversified growth company of high-end, specialty niche businesses manufacturing a variety of products for commercial, industrial and consumer markets worldwide. TriMas is organized into five strategic business groups: Packaging Systems, Energy Products, Industrial Specialties, RV & Trailer Products, and Recreational Accessories. TriMas has nearly 5,000 employees at 80 different facilities in 10 countries. For more information, visit www.trimascorp.com.