VERMONT CASTINGS GROUP ANNOUNCES ACQUISITION BY EMPLOYEES Creates Industry's Largest Privately Held, Employee-Owned Company PARIS, KENTUCKY, July 31, 2013 – Vermont Castings Group, a leading supplier of hearth and grill products throughout North and South America, Asia and Europe, today proudly announced that after a prolonged sale process with many potential buyers, the Company has been acquired by an entity owned by the employees of the Company. As a result of the acquisition, Vermont Castings Group (VCG) will be the largest privately held, employee-owned company in the hearth industry. “I can’t be more excited about the direction we are taking Vermont Castings Group,” said Ricardo León, the new Chairman and CEO of Vermont Castings Group. “After listening to all the different proposals and evaluating the options for returning Vermont Castings Group to prominence, the employees realized the best way for our business to succeed was to take back the control and play the leading role in driving the Company's strategic direction. Over the coming weeks and months, we will refocus VCG on the hearth industry, and transition away from non-core activities. We will provide the highest quality products to all our customers, large and small. You won’t find a more motivated Company in the business.” The new ownership team is entirely made up by current and former employees including Ricardo León, Pat Kelly, Jess Baldwin and Kirsten Jenkins. Expect to see other familiar faces from the industry returning to Vermont Castings Group, as well. As part of this transaction, the Company cancelled the majority of its debt and is emerging in a stronger financial position. “With the financial commitment from the ownership group, an aggressive and focused operational plan, and the support of the senior lenders, we have created the financial flexibility to continue serving and earning the right to grow with our customers,” added Mr. León. “We have a lot of work to do, but the optimism has never been higher,” said Jess Baldwin, Senior Vice President of Sales and Customer Service. “Every customer will now be able to put a real face to this business and we are thrilled to be given this opportunity.” Bill Tweardy, the former owner and founder of Monessen Hearth Systems added, "I am exceedingly supportive of this transaction, and believe this approach represents the best possible solution for the Company, its employees, and most importantly, its customers. The employees demonstrated remarkable courage and determination in taking back what I am convinced is a great company. I know this is just the beginning for Vermont Castings Group and our customers can expect great things to come." For more information please contact Jess Baldwin.