<PAGE>
                                 ADIENCE, INC.
                           (A WHOLLY-OWNED SUBSIDIARY
                           OF THE ALPINE GROUP, INC.)
 
                        UNAUDITED CONDENSED CONSOLIDATED
                              FINANCIAL STATEMENTS
 
                                JANUARY 31, 1996
<PAGE>
                                 ADIENCE, INC.
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                             (DOLLARS IN THOUSANDS)
                                     ASSETS
 
<TABLE>
<CAPTION>
                                                                                          JANUARY 31,   APRIL 30,
                                                                                             1996         1995
                                                                                          -----------  -----------
                                                                                          (UNAUDITED)   (AUDITED)
<S>                                                                                       <C>          <C>
Current Assets:
  Cash and cash equivalents.............................................................   $   1,367   $     1,974
  Accounts receivable (less allowance for doubtful accounts;
   January, $650; April, $897)..........................................................      15,649        17,983
  Inventories...........................................................................      11,609         9,547
  Other current assets..................................................................       4,572         6,188
                                                                                          -----------  -----------
    Total current assets................................................................      33,197        35,692
                                                                                          -----------  -----------
Net assets of discontinued operations...................................................      --             8,030
Property, plant and equipment:
  Land..................................................................................       1,425         1,425
  Buildings.............................................................................       7,656         7,198
  Machinery and equipment...............................................................      16,330        14,517
                                                                                          -----------  -----------
                                                                                              25,411        23,140
  Less allowance for depreciation.......................................................       2,883         1,058
                                                                                          -----------  -----------
                                                                                              22,528        22,082
Note receivable from affiliate..........................................................       1,992       --
Goodwill (net of accumulated amortization; January, $1,449; April, $515)................      38,025        38,163
Other assets............................................................................       1,511         2,080
                                                                                          -----------  -----------
    Total assets........................................................................   $  97,253   $   106,047
                                                                                          -----------  -----------
                                                                                          -----------  -----------
                                       LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
  Revolving lines of credit.............................................................   $  --       $    14,387
  Current portion of long-term debt.....................................................         702           714
  Accounts payable and other............................................................       7,531         8,722
  Accrued expenses and other liabilities................................................      18,734        18,929
  Due to parent.........................................................................       1,375       --
                                                                                          -----------  -----------
    Total current liabilities...........................................................      28,342        42,752
                                                                                          -----------  -----------
Notes payable to parent.................................................................      57,108       --
Payable to affiliate....................................................................      --             3,583
Long-term debt (less current portion)...................................................       6,307        47,213
Deferred income taxes...................................................................       1,773         1,759
Other long-term liabilities.............................................................       1,461         1,880
Shareholder's equity:
  Common stock, $.01 par value; authorized 20,000,000 shares; issued 10,100,000
   shares...............................................................................         101           101
  Additional paid-in capital............................................................       5,364        12,303
  Foreign currency translation..........................................................          86           144
  Accumulated deficit...................................................................      (3,289)       (3,688)
                                                                                          -----------  -----------
    Total shareholder's equity..........................................................       2,262         8,860
                                                                                          -----------  -----------
    Total liabilities and shareholder's equity..........................................   $  97,253   $   106,047
                                                                                          -----------  -----------
                                                                                          -----------  -----------
</TABLE>
 
   The accompanying notes are an integral part of these financial statements
 
                                       1
<PAGE>
                                 ADIENCE, INC.
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)
                     (IN THOUSANDS, EXCEPT PER SHARE DATA)
 
<TABLE>
<CAPTION>
                                                                               FOR THE THREE     FOR THE PERIOD
                                                                               MONTHS ENDED    DECEMBER 22, 1994
                                                                                JANUARY 31,      TO JANUARY 31,
                                                                                   1996               1995
                                                                              ---------------  ------------------
<S>                                                                           <C>              <C>
Sales.......................................................................     $  28,319         $    7,634
Cost of goods sold..........................................................        23,512              6,347
                                                                              ---------------         -------
  Gross profit..............................................................         4,807              1,287
Selling, general and administrative.........................................         3,521              1,572
Amortization of goodwill....................................................           311                113
                                                                              ---------------         -------
  Operating income (loss)...................................................           975               (398)
Interest income.............................................................            71                 36
Interest (expense)..........................................................        (2,050)              (816)
                                                                              ---------------         -------
  Net (loss) before income taxes............................................        (1,004)            (1,178)
Income taxes................................................................            93                  6
                                                                              ---------------         -------
  Net loss..................................................................     $  (1,097)        $   (1,184)
                                                                              ---------------         -------
                                                                              ---------------         -------
  Net (loss) per share of common share......................................     $   (0.11)        $    (0.12)
                                                                              ---------------         -------
                                                                              ---------------         -------
</TABLE>
 
   The accompanying notes are an integral part of these financial statements.
 
                                       2
<PAGE>
                                 ADIENCE, INC.
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)
                     (IN THOUSANDS, EXCEPT PER SHARE DATA)
 
<TABLE>
<CAPTION>
                                                                               FOR THE NINE      FOR THE PERIOD
                                                                               MONTHS ENDED    DECEMBER 22, 1994
                                                                                JANUARY 31,      TO JANUARY 31,
                                                                                   1996               1995
                                                                              ---------------  ------------------
<S>                                                                           <C>              <C>
Sales.......................................................................     $  84,955         $    7,634
Cost of goods sold..........................................................        67,840              6,347
                                                                              ---------------         -------
  Gross profit..............................................................        17,115              1,287
Selling, general and administrative.........................................        10,805              1,572
Amortization of goodwill....................................................           934                113
                                                                              ---------------         -------
  Operating income (loss)...................................................         5,376               (398)
Interest income.............................................................           386                 36
Interest (expense)..........................................................        (6,298)              (816)
                                                                              ---------------         -------
  (Loss) before income taxes and extraordinary item.........................          (536)            (1,178)
Income taxes................................................................           411                  6
                                                                              ---------------         -------
  Loss before extraordinary item............................................          (947)            (1,184)
Extraordinary (loss) on early extinguishment of debt........................          (158)            --
                                                                              ---------------         -------
  Net loss..................................................................     $  (1,105)        $   (1,184)
                                                                              ---------------         -------
                                                                              ---------------         -------
(Loss) per common share:
  (Loss) from operations before extraordinary item..........................     $   (0.09)        $    (0.12)
  Extraordinary (loss) on early extinguishment of debt......................         (0.02)            --
                                                                              ---------------         -------
  Net (loss) per common share...............................................     $   (0.11)        $    (0.12)
                                                                              ---------------         -------
                                                                              ---------------         -------
</TABLE>
 
   The accompanying notes are an integral part of these financial statements.
 
                                       3
<PAGE>
                                 ADIENCE, INC.
            CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDER'S EQUITY
                   FOR THE NINE MONTHS ENDED JANUARY 31, 1996
                                  (UNAUDITED)
                                 (IN THOUSANDS)
 
<TABLE>
<CAPTION>
                                                                   ADDITIONAL   RETAINED      FOREIGN         TOTAL
                                                        COMMON       PAID-IN    EARNINGS     CURRENCY     SHAREHOLDERS'
                                                         STOCK       CAPITAL    (DEFICIT)   TRANSLATION      EQUITY
                                                      -----------  -----------  ---------  -------------  -------------
<S>                                                   <C>          <C>          <C>        <C>            <C>
Balance at April 30, 1995...........................   $     101    $  12,303   $  (3,688)   $     144     $     8,860
Purchase accounting adjustment......................                   (2,750)                                  (2,750)
Alpine acquisition of minority interest.............                    1,596       1,504                        3,100
Dividend to The Alpine Group, Inc...................                   (5,785)                                  (5,785)
Net income (loss)...................................                               (1,105)                      (1,105)
Foreign currency translation adjustment.............                                               (58)            (58)
                                                           -----   -----------  ---------        -----    -------------
Balance at January 31, 1996.........................   $     101    $   5,364   $  (3,289)   $      86     $     2,262
                                                           -----   -----------  ---------        -----    -------------
                                                           -----   -----------  ---------        -----    -------------
</TABLE>
 
   The accompanying notes are an integral part of these financial statements.
 
                                       4
<PAGE>
                                 ADIENCE, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                JANUARY 31, 1996
                                   UNAUDITED
 
1.  ACQUISITION BY THE ALPINE GROUP, INC.
    On  December  21,  1994, The  Alpine  Group, Inc.  ("Alpine")  acquired from
certain stockholders  of  Adience, Inc.  ("Adience")  82.3% of  its  outstanding
common  stock  (the "Adience  Acquisition"),  which when  combined  with Adience
common stock previously purchased, resulted, in Alpine owning 87.2% of Adience's
outstanding common stock  on such date.  On July 21,  1995, Alpine acquired  the
remaining 12.8% of Adience's common stock.
 
    The  Adience Acquisition  was accounted for  using the  purchase method, and
accordingly, Adience's  results of  operations have  been included  in  Alpine's
consolidated  results on a  prospective basis from the  date of the acquisition.
The estimated purchase  price for the  Adience Acquisition (including  expenses)
has  been allocated to the fair market value of Adience's assets and liabilities
as of the Adience Acquisition date.  The excess of the estimated purchase  price
over  the estimated  fair market  value of  identifiable net  assets acquired is
being amortized on a straight line basis over 30 years.
 
2.  BASIS OF PRESENTATION
    The accompanying unaudited  condensed consolidated  financial statements  of
Adience  reflect  all  adjustments  which, in  the  opinion  of  management, are
necessary for a fair presentation of  the results of operations for the  interim
periods presented. These financial statements should be read in conjunction with
the  summary of significant  accounting policies and the  notes to the financial
statements included in the Adience's  audited financial statements for the  year
ended April 30, 1995.
 
3.  INVENTORIES
    The components of inventories are:
 
<TABLE>
<CAPTION>
                                                                         JANUARY 31,   APRIL 30,
                                                                            1996         1995
                                                                         -----------  -----------
                                                                              (IN THOUSANDS)
<S>                                                                      <C>          <C>
Raw materials..........................................................   $   4,039    $   3,037
Work in process........................................................       1,933        1,488
Finished goods.........................................................       5,637        5,022
                                                                         -----------  -----------
                                                                          $  11,609    $   9,547
                                                                         -----------  -----------
                                                                         -----------  -----------
</TABLE>
 
4.  DISCONTINUED OPERATIONS
    As  of December  21, 1994  Alpine and  Information Display  Technology, Inc.
("IDT"), formerly  a  majority-owned  subsidiary of  Adience,  entered  into  an
Agreement  and  Plan  of  Merger,  which provided  for  the  merger  of Alpine's
information display group (a  business segment of  Alpine), comprised of  Alpine
PolyVision,  Inc. ("APV")  and Posterloid  Corporation ("Posterloid"),  with and
into two separate  wholly-owned subsidiaries of  IDT formed for  the purpose  of
acquiring  APV and  Posterloid. To effectuate  the merger,  the Company's equity
interest in IDT was distributed  to Alpine as a  dividend in kind. In  addition,
the  balance of the  amounts due IDT  (classified in the  April 30, 1995 balance
sheet as "Payable to  Affiliate") was assigned to  Alpine. Further, the  balance
sheet  at  April 30,  1995 reflects  the net  assets  of IDT  as "Net  assets of
discontinued operations."
 
5.  LINES OF CREDIT
    On July 21, 1995,  Alpine repaid the balance  outstanding under the  Adience
revolving  credit facility  (see Note  6). As a  result of  the termination fees
associated  with  repayment  of  the   Adience  revolving  credit  facility   an
extraordinary loss on the early extinguishment of debt of $158,000 was recorded.
 
                                       5
<PAGE>
                                 ADIENCE, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                                JANUARY 31, 1996
                                   UNAUDITED
 
6.  LONG-TERM DEBT
    Long-term debt consists of the following:
 
<TABLE>
<CAPTION>
                                                                                           JANUARY 31,  APRIL 30,
                                                                                              1996        1995
                                                                                           -----------  ---------
                                                                                               (IN THOUSANDS)
<S>                                                                                        <C>          <C>
11% Senior Secured Notes due 2002........................................................   $   4,989   $  49,079
Capital lease obligations................................................................         838         621
Notes payable with monthly installments of principal and interest of $22 through December
 1997, interest at 10%...................................................................         432         587
Industrial Development Authority Note with monthly installments of principal and interest
 of $2 through February 2010, interest at 2%.............................................         327         343
Machinery and Equipment Loan Fund Note with monthly installments of principal and
 interest of $4 through February 2002, interest at 2%....................................         321         361
Other (interest ranges from 10% to 13%)..................................................         429         519
                                                                                           -----------  ---------
      Total Debt.........................................................................       7,336      51,510
Less: current portion....................................................................         702         714
                                                                                           -----------  ---------
                                                                                                6,634      50,796
Discount on 11% Senior Secured Notes.....................................................         327       3,583
                                                                                           -----------  ---------
      Long-Term debt.....................................................................   $   6,307   $  47,213
                                                                                           -----------  ---------
                                                                                           -----------  ---------
</TABLE>
 
    The Senior Secured Notes have an annual interest rate of 11% and were issued
under an indenture agreement dated as of June 30, 1993. The Senior Secured Notes
are  redeemable at  the option  of Adience after  December 15,  1997. The Senior
Secured Notes are not  guaranteed by Adience's  subsidiary, Adience Canada  Inc.
The  Secured Notes are secured by a lien  on all Adience's assets. Adience, on a
consolidated basis, has  certain restrictive covenants  which are customary  for
such  financings  including,  among  other  things,  limitations  on  additional
indebtedness, limitations  on asset  sales and  restrictions on  the payment  of
dividends.
 
    On  July 21, 1995, Alpine completed the  placement of $153 million of 12.25%
Senior Secured  Notes (the  "Alpine  Notes") and  entered  into an  $85  million
revolving  credit facility  (the "Credit Facility").  A portion  of the proceeds
from the Alpine Notes and  Credit Facility were used  to redeem, at a  discount,
approximately  90% of the  $49 million face  amount of Senior  Secured Notes and
repay the balance  outstanding under  Adience's revolving  credit facility.  The
Alpine  Notes are  guaranteed by  Adience and  Superior Telecommunications, Inc.
("Superior"), another Alpine  subsidiary, and  are secured  by a  pledge of  the
capital  stock of Adience and Superior. The Credit Facility, which allows Alpine
to make additional revolving credit loans to Adience to fund its working capital
needs (see Note 8), is guaranteed by Adience.
 
7.  COMMITMENTS AND CONTINGENCIES
    In  February  1992,  PolyVision  (formerly  IDT)  was  cited  by  the   Ohio
Environmental  Protection  Agency  (the  "Ohio EPA")  for  violations  of Ohio's
hazardous  waste  regulations,  including  speculative  accumulation  of   waste
(holding  waste on-site  beyond the  legal time  limit) and  illegal disposal of
hazardous waste on  the site of  its Alliance, Ohio  manufacturing facility.  In
December  1993, PolyVision and Adience signed a  consent order with the Ohio EPA
and the Ohio Attorney  General which required PolyVision  and Adience to pay  to
the  State of Ohio a civil penalty and  to remediate the site in accordance with
specified cleanup goals. In addition, the consent order requires the payment  of
stipulated  penalties of  up to  $1,000 per day  for failure  to satisfy certain
requirements of the consent
 
                                       6
<PAGE>
                                 ADIENCE, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                                JANUARY 31, 1996
                                   UNAUDITED
 
7.  COMMITMENTS AND CONTINGENCIES (CONTINUED)
order, including milestones in the closure plan. In October 1994, PolyVision and
Adience filed  a proposed  amendment  to the  consent  order which  would  allow
PolyVision  and Adience to establish risk-based cleanup goals, an approach which
has been approved by the Ohio EPA for other contaminated sites. If the Ohio  EPA
approves  this propose amendment, use of this approach is expected to reduce the
extent and cost of remediation required at  this site. The Ohio EPA has not  yet
responded  to  this  proposed  amendment.  At  January  31,  1996, environmental
accruals amounted  to  $39,000 which  represents  management's estimate  of  the
amounts  remaining  to  be  incurred  in this  matter,  including  the  costs of
effecting the closure plan, bonding and insurance costs, penalties and legal and
consultants' fees. If the Ohio EPA does not accept the proposed amendment to the
consent order, the  cost of  the remediation  may exceed  the amounts  currently
accrued.
 
    Under  the acquisition agreement  pursuant to which  PolyVision acquired the
Alliance facility from Adience, Adience  represented and warranted that,  except
as  otherwise disclosed to PolyVision, no  hazardous material had been stored or
disposed of on the property. No  disclosure of storage or disposal of  hazardous
material  on the  site was made.  Accordingly, Adience is  required to indemnify
PolyVision for any losses in excess of $250,000, PolyVision has notified Adience
that it is  claiming the right  to indemnification  for all costs  in excess  of
$250,000  incurred by PolyVision in this  matter and has received assurance that
Adience will honor such claim.
 
    Adience is one of many defendants in  a class action lawsuit brought in  the
circuit  court of Cook  County, Illinois, seeking  unstated monetary damages and
alleging that  products produced  by Adience  caused certain  of its  employees,
former   employees,   and  such   persons'   family  members   to   suffer  from
asbestos-related diseases  or an  increased risk  of developing  such  diseases.
Alpine  and its counsel are evaluating the validity of such claims and the scope
of its potential liabilities and defense costs.
 
    Adience is  subject  to  other  legal  proceedings  and  claims  which  have
primarily  arisen in the ordinary  course of business and  have not been finally
adjudicated.
 
    In the opinion of management, based  on its examination of such matters  and
discussions  with counsel, the ultimate resolution  of all pending or threatened
litigation, claims and assessments will not have a material adverse effect  upon
Adience's consolidated financial position, liquidity or results of operations.
 
8.  RELATED COMPANY TRANSACTIONS
    Adience  has performed in the past, and  to a degree still performs, certain
management and administrative  services for PolyVision.  These services  include
the  use  of Adience's  management information  system,  the preparation  of all
federal and state tax returns, cash  management together with daily and  monthly
reporting  to the companies' primary lender, the administration of insurance and
workers' compensation  programs, legal  and employee  benefit services  and  the
preparation  of salaried payrolls. The fee paid by PolyVision for these services
is at the current rate of $300,000 per year.
 
    As a result of funds advanced by  Alpine to Adience in conjunction with  its
debt restructuring (see Note 6), and additional funds provided by Alpine under a
revolving credit facility, the Company is indebted to Alpine under notes payable
amounting  to $56.3 million  at January 31,  1996. Such notes  payable to Alpine
include:
 
        (1) $52.5 million in  promissory notes due in  2003 (subject to  certain
    mandatory  prepayment requirements),  with interest  payable semiannually at
    annual rates of between 11% and 14%; and
 
                                       7
<PAGE>
                                 ADIENCE, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                                JANUARY 31, 1996
                                   UNAUDITED
 
8.  RELATED COMPANY TRANSACTIONS (CONTINUED)
        (2) $4.4  million in  borrowings under  a $15  million revolving  credit
    facility  between  Alpine and  Adience due  in  2000, with  interest payable
    monthly at prime plus 0.375% or LIBOR plus 2.25%. Borrowings from Alpine  by
    Adience  under the revolving credit facility are subject to a borrowing base
    determined as a  percentage eligible accounts  receivable and inventory  (as
    defined).  The revolving credit facility is secured by a pledge of Adience's
    accounts receivable and inventory.
 
    Total interest expense charged by Alpine to Adience under the aforementioned
promissory notes and  revolving credit facility  amounted to approximately  $1.8
million  and $3.9 million for the three months and nine months ended January 31,
1996, respectively.
 
    In November 1995, Adience  entered into a  note agreement whereby  Adience's
Canadian  subsidiary  advanced $2.0  million  to Superior  Cable  Corporation, a
Canadian subsidiary  of  Superior. The  advance  bears  interest at  8%  and  is
repayable on demand.
 
    Alpine  allocates insurance  expenses based on  projected payrolls, property
values and forecasted losses. Such allocated costs totaled $392,000 and $634,000
for the three and nine months ended  January 31, 1996, and are reflected in  the
Company's results of operations.
 
                                       8