Kennametal Inc. today announced organizational changes designed to align the company to achieve maximum operational effectiveness, take advantage of growth opportunities and execute the company's strategies to unlock the value in the Kennametal franchise.

  -- H. Patrick Mahanes is appointed Executive Vice President, Global
     Strategic Initiatives.  In his new position, Mr. Mahanes will be
     responsible for global strategy, technology, e-commerce and industry
     relations.  Mr. Mahanes is an experienced executive and is highly
     regarded within the industry and the company.  He will also act in an
     advisory capacity to Mr. Tambakeras to help guide the organization
     forward to meet its aspiration as the premier tooling solutions
     supplier.
  -- Derwin R. Gilbreath is appointed Chief Operating Officer of the newly
     formed Metalworking Solutions and Services Group, composed of the
     Global Metalworking and Industrial Products Group Businesses.  Mr.
     Gilbreath was formerly Chief Operating Officer, Greenfield Industries,
     Inc., which was comprised of the Industrial Products and Engineered
     Products Groups.
  -- James R. Breisinger is appointed Chief Operating Officer of the newly
     formed Advanced Materials Solutions Group, composed of the Mining and
     Construction and Engineered Products Groups.
  -- F. Nicholas Grasberger, III, former Corporate Treasurer of H.J. Heinz
     , will be joining Kennametal as Vice President and Chief
     Financial Officer.  Nick will be responsible for Accounting and
     Control, Treasury, Tax, Financial Planning and Analysis, Investor
     Relations and Internal Audit.

"Fiscal 2000 was a year of significant change and progress for Kennametal," said Markos I. Tambakeras, President and Chief Executive Officer, "We achieved our commitments despite weak markets, a strong U.S. dollar and rising interest rates. As we turn to fiscal 2001, we maintain our commitment to delivering results and turn our attention to pursuing top-line growth. This organizational realignment will position us to exploit all opportunities in our core metalworking business by bringing the industrial products and traditional metalworking business under one leader. We have a renewed focus on our core, realigned our organization with a mix of experience and new talent and ideas, and developed a financial discipline that will drive us to deliver top-tier financial results."

Kennametal is a global leader in providing tools, tooling systems and solutions to the metalworking, mining, highway construction, oil and energy industries, and wear-resistant parts for a wide range of industries. Headquartered in Latrobe, Pa., Kennametal has approximately 13,000 employees worldwide and annual sales of approximately $1.9 billion.

SOURCE: Kennametal Inc.