<PAGE>

                                                                    EXHIBIT 10-6

                               WAIVER AND CONSENT

                           Dated as of: August 2, 2005

            Reference is hereby made to the Loan and Security Agreement, dated
as of December 18, 2003 (as heretofore amended or otherwise modified and as
further amended, modified, supplemented, extended, renewed, restated or
replaced, the "Loan Agreement"), by and among Lexington Precision Corporation
("LPC") and Lexington Rubber Group, Inc. ("LRG"), as Borrowers (LPC and LRG,
each a "Borrower" and, collectively, the "Borrowers"), the lenders from time to
time party thereto (the "Lenders"), and Ableco Finance LLC, in its capacity as
agent for the Lenders (in such capacity, the "Agent"), and other agreements,
documents and instruments at any time executed and/or delivered in connection
therewith (all of the foregoing, including the Loan Agreement, as the same now
exist or may hereafter be amended, modified, supplemented, extended, renewed,
restated or replaced, being collectively referred to herein as the "Financing
Agreements"). Capitalized terms used but not otherwise defined herein shall have
the meanings given to them in the Loan Agreement.

            LPC is entering into an Equipment Purchase Agreement with Premier
Tool & Die Cast Corp. or an affiliate thereof ("Buyer"), dated as of August 2,
2005 (the "Purchase Agreement") providing for the sale of certain assets
(collectively, the "Purchased Assets") consisting of all inventory of LPC's
Lexington Die Casting Division for a purchase price of approximately $92,000
(the "Inventory Purchase Price") and the equipment listed on Schedule I attached
hereto, located at LPC's Lexington Die Casting Division in Lakewood, New York,
for an aggregate purchase price of $2,560,000 (the "Equipment Purchase Price"),
of which $2,360,000 ("Initial Payment") shall be paid in cash at closing and
$200,000 shall be paid by Buyer's delivery of a promissory note (the "Note")
which shall be payable on April 30, 2008

            For good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Agent, the Lenders and the Borrowers hereby
agree as follows:

                  1. Consents. Subject to the terms and conditions contained
      herein and notwithstanding anything to the contrary set forth in the Loan
      Agreement or any other Financing Agreement, the Agent and the Lenders
      hereby consent to:

                        (a) the sale of the Purchased Assets to Buyer in
      accordance with the terms and conditions of the Purchase Agreement as in
      effect on the date hereof;

                        (b) the execution by the Borrowers of the Waiver and
      Consent, dated of even date herewith, among the Borrowers, the Working
      Capital Agent and the Working Capital Lenders (the "Working Capital
      Consent"); and

                        (c) the sale or disposition of the Real Property located
      on Redding Drive in LaGrange, Georgia (the "LaGrange Property"); provided,
      that, (A) the net cash proceeds of such sale or disposition shall be at
      least $1,500,000, (B) all of the net cash proceeds of such sale or
      disposition shall be paid to Agent for application to the Obligations in
      accordance with Section 2.4(c)(ii) of the Loan Agreement, (C) such sale or
      disposition and application of proceeds shall occur on or before December
      31, 2005, and (D) except as Agent may otherwise agree in writing, as of
      the date of such sale or disposition and after giving effect thereto, no
      Default or Event of Default shall have occurred and be continuing.

<PAGE>

                  2. Release. The Agent, with the consent of the Lenders, agrees
      to execute and deliver to LPC, simultaneously with this Waiver and
      Consent, a release of liens in the form attached hereto as Exhibit A (the
      "Release"). The Borrowers hereby acknowledge and consent to the Release.

                  3. Conditions Precedent. The consents contained herein shall
      only be effective upon the satisfaction of each of the following
      conditions precedent in a manner reasonably satisfactory to the Agent:

                        (a) the Working Capital Agent shall have received in
      cash or other immediately available funds, the sum of $2,452,000 in
      respect of the Initial Payment and the Inventory Purchase Price, from or
      on behalf of Buyer, for application by the Working Capital Agent to the
      Working Capital Debt as set forth in Section 5 of the Working Capital
      Consent;

                        (b) the Agent shall have received counterparts of this
      letter agreement, duly authorized, executed and delivered by the
      Borrowers;

                        (c) the Agent shall have received, in form and substance
      reasonably satisfactory to the Agent, true, correct and complete copies of
      the following documents, each duly authorized, executed and delivered by
      the parties thereto: the Purchase Agreement and the Note, together with
      all schedules and exhibits to each of the foregoing (such documents,
      collectively, the "Purchase Documents"); and

                        (d) the Agent shall have received a fully executed copy
      of the Working Capital Consent.

            4. Covenants.

                        (a) The Borrowers shall deliver to the Working Capital
      Agent (or its counsel), within five (5) Business Days of the closing of
      the transactions pursuant to the Purchase Agreement, the original Note,
      together with an allonge, or other appropriate instrument of transfer,
      undated and executed in blank.

                        (b) The Borrowers shall cause all amounts at any time
      payable to any Borrower pursuant to the Note to be paid by Buyer directly
      to the Working Capital Agent for application to the Working Capital Debt
      and the Obligations as follows: first, to the outstanding principal amount
      of the WC Term Loans, until paid in full, and thereafter, in accordance
      with Section 2.4(c) of the Loan Agreement.

                        (c) The Borrowers shall not effect or consent to any
      amendment or other modification of any Purchase Document without the prior
      written consent of the Agent.

                        (d) The Borrowers shall sell or otherwise dispose of the
      LaGrange Property (i) on or before December 31, 2005, (ii) the net cash
      proceeds of such sale or disposition shall be at least $1,500,000, and
      (iii) all of the net cash proceeds of such sale or disposition shall be
      paid to Agent for application to the Obligations in accordance with
      Section 2.4(c)(ii) of the Loan Agreement.

<PAGE>

                        (e) Borrowers shall pay to the Agent, for the account of
      the Lenders, a consent fee in the amount of $15,000, which fee shall be
      fully earned and payable on the date hereof.

                  5. Additional Representations and Warranties. Each Borrower,
      hereby jointly and severally represents, warrants and covenants to the
      Agent and the Lenders as follows, which representations, warranties and
      covenants are continuing and shall survive the execution and delivery
      hereof:

                        (a) this letter agreement and the Purchase Documents
      have been duly authorized, executed and delivered by all necessary
      corporate action on the part of such Borrower which is a party hereto and
      thereto, including any required stockholders action, are in full force and
      effect as of the date hereof, and constitute valid and binding obligations
      of such Borrower enforceable against it in accordance with their terms,
      except as limited by bankruptcy, insolvency, reorganization and similar
      laws affecting the enforcement of creditors' rights or contractual
      obligations generally and subject to general principles of equity.

            6. Effect of this Consent.

                        (a) Except as provided above, the Loan Agreement and the
      other Financing Agreements shall remain in full force and effect, and the
      foregoing waivers and consents shall be limited to the matters set forth
      herein and shall not extend to any other transaction. The foregoing
      waivers and consents do not allow any other or further departure from the
      terms of the Loan Agreement or any other Financing Agreement.

                        (b) Each Borrower hereby acknowledges and agrees that
      this Waiver and Consent constitutes a "Financing Agreement" under the Loan
      Agreement. Accordingly, it shall be an immediate Event of Default under
      the Loan Agreement if (i) any representation or warranty made by a
      Borrower under or in connection with this Waiver and Consent shall have
      been untrue, false or misleading in any material respect when made, or
      (ii) a Borrower shall fail to perform or observe any term, covenant or
      agreement contained in this Waiver and Consent.

                  7. Further Assurances. The parties hereto shall execute and
      deliver such additional documents and take such additional actions as may
      be necessary to effectuate the provisions and purposes of this Agreement.

                  8. Governing Law. The rights and obligations hereunder of each
      of the parties hereto shall be governed by and interpreted and determined
      in accordance with the laws of the State of New York (without regard to
      principles of conflict of laws).

                  9. Waiver, Modification, Etc. No provision or term hereof may
      be modified, altered, waived, discharged or terminated orally, but only by
      an instrument in writing executed by the party against whom such
      modification, alteration, waiver, discharge or termination is sought.

                  10. Entire Agreement. This Agreement contains the entire
      agreement of the parties hereto concerning the subject matter hereof and
      supersedes all prior oral or written

<PAGE>

      discussions, proposals, negotiations or communications concerning the
      subject matter hereof.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

<PAGE>

                  11. Counterparts. This Waiver and Consent may be executed in
      any number of counterparts, each of which, when so executed and delivered,
      shall be deemed to be an original and all of which, taken together, shall
      constitute one and the same Waiver and Consent. The delivery of an
      executed counterpart of this Waiver and Consent by facsimile or electronic
      mail shall have the same force and effect as delivery of any original
      executed counterpart of this Waiver and Consent. Any party delivering an
      executed counterpart of this Waiver and Consent by facsimile or electronic
      mail also shall deliver an original executed counterpart of this Waiver
      and Consent, but the failure to deliver an original executed counterpart
      shall not affect the validity, enforceability, and binding effect of this
      Waiver and Consent as to such party or any other party.

                                LEXINGTON PRECISION CORPORATION,
                                    Borrower

                                By: /s/ Michael A. Lubin
                                   -----------------------------------
                                Name: Michael A. Lubin
                                Title: Chairman

                                LEXINGTON RUBBER GROUP, INC.,
                                    Borrower

                                By: /s/ Michael A. Lubin
                                   -----------------------------------
                                Name: Michael A. Lubin
                                Title: Chairman

                                ABLECO FINANCE LLC, on behalf of itself
                                  and its affiliate assigns, as Agent and as a
                                  Lender

                                By: /s/ Dan Wolf
                                   -----------------------------------
                                Name: Dan Wolf
                                Title: SVP

<PAGE>

                                   SCHEDULE I

                                PURCHASED ASSETS

1. All inventory of LPC's Lexington Die Casting Division consisting of metals,
packaging and pallets located at LPC's facility at 201 Winchester Road,
Lakewood, NY on the date hereof, to the extent sold to Buyer pursuant to the
Purchase Agreement.

2. The following machinery and equipment:

One (1) HPM Model D-1000-A 1,000-Ton Aluminum Cold Chamber Die Cast Machine, S/N
R95356/64-088, including:
      (1)   Rimrock Multi-Link Auto Reciprocator/Die Sprayer
      (1)   Advance Model SL-1200 Automatic Ladler, S/N 31524-98, (1998)
      (1)   Rimrock Multi-Link Extractor
      (1)   MPH 5,000-Lb. Gas-Fired Holding Furnace, S/N 6094-82; with
            Temperature Controls

One (1) HPM Model D-1000-A 1,000-Ton Aluminum Cold Chamber Die Cast Machine, S/N
      R98176/65-151, including
      (1)   Rimrock Multi-Link Auto Reciprocator/Die Sprayer
      (1)   Rimrock Model 305 Multi-Link Automatic Ladler
      (1)   Rimrock Multi-Link Extractor
      (1)   Firebrand 3,500-Lb. Gas-Fired Holding Furnace, S/N 9038, with
            Temperature Controls

One (1) Prince Model 836 CCA 800-Ton Aluminum Cold Chamber Die Cast Machine,
DA0008 including:
      (1)   Advance Model SR-1150 Automatic Reciprocator/Die Sprayers
      (1)   Advance Model SL-1500 Automatic Ladler, S/N 32070-99
      (1)   ABB Type IRB4400-M98 Industrial Robot, S/N 44-12809
      (1)   O'Brien/Gere Model PD512-00 3,500-Lb. Gas-Fired Holding Furnace, S/N
            20006-01

One (1) Prince Model 836 CCA 800-Ton Aluminum Cold Chamber Die Cast Machine,
DA0011, including:
      Advance Model SR-1150 Automatic Reciprocator/Die Sprayers
      Advance Model SL-1500 Automatic Ladler, S/N 3019-00
      (1)   ABB IRB4400 M2000 Industrial Robot, S/N 44-20742
      (1)   Seco/Warwick 3,200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
            FSR-954-95

One (1) Idra Model OL-700 770-Ton Aluminum Cold Chamber Die Cast Machine, S/N
7187 including:
      (1)   Rimrock Automatic Extractor/Die Sprayer
      (1)   Rimrock Ladler S/N C10113
      (1)   Seco/Warwick 3,200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
            FSR-956-95

One (1) Idra Model OL-700 IDRP 770-Ton Aluminum Cold Chamber Die Cast Machine,
S/N 6932, including:
      (1)  Rimrock Automatic Extractor/Sprayer
      (1)  Rimrock Model 405 Automatic Ladler, S/N 6231
      (1)   O'Brien & Gere Model ND514-99 1,500-Lb. Gas Fired Aluminum Holding
            Furnace, S/N 20017

One (1) Prince Model 836 CCA 800-Ton Aluminum Cold Chamber Die Cast Machine, S/N
DA1038, including:
      (1)   Advance Model SR1150 Automatic Reciprocator/Die Sprayer, S/N 3018-00
      (1)   Advance Model SL-1500 Automatic Ladler, S/N 32101-00
      (1)   ABB Type IRB4400M2000 Industrial Robot, S/N 44-21383
      (1)   Seco/Warwick 3,200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
            F-628-95

<PAGE>

      MELT ROOM

1-    O'Brien & Gere Model MD127-98 Melt Furnace, S/N 99004-1, Asset #3, (1999);
      Vertical, Stack Type; with 84" x 48" x 24" Deep Conveyor Shaker; Mayfran
      36"W x 15"L Elevated Scrap Conveyor, with Stack Shaker; Gas-Fired
      Stack-Type Melting Furnace, 72"D x 60"H, with (3) Burners, Rotating Base,
      Structural Steel Supports, and Mezzanine; Operator Control Panel, with
      Allen-Bradley Model PanelView 550 PLC Controls; and Digital Temperature
      Controllers

1-    MPH Model ACM-2000 20,000-Lb. Capacity Reverberatory Furnace, S/N 3978-79,
      Asset #2, (1979); Aluminum, Melt, 5,000,000-Btus Input, 2,000(degree)F
      Maximum Temperature, Gas Fired; with Epic Burners; North American Control
      Panel, with Digital Temperature Controllers; and Single Door, with
      Pneumatic Lift; (Refractory Brick Rebuilt 2001)

1-    MPH Model ACM-2000 20,000-Lb. Reverberatory Furnace, S/N 856-74, Asset #1,
      (1974); Aluminum, Melt, 5,000,000-Btus Input; 2,000(degree)F Maximum
      Temperature, Gas Fired; with Epic Burners; North American Control Panel,
      with Digital Temperature Controllers; and Single-Swing Open Door;
      (Refractory Brick Replaced 1994; Refractory Brick Rebuilt 2001)

1-    Amcor Injecta Model II Fluxing Machine, S/N 66-201, (1966); with Kozma
      Gas-Fired Charging Stand; Carts; and Tanks

      DIE CAST AREA

1-    Miller-Moorehead Machinery 60-Ton Trim Press, S/N 1169; Hydraulic, 4-Post,
      90" x 32" Between Posts

1-    Manufacturer Unknown 35-Ton Hydraulic Trim Press; 4-Post, Downacting, 26"
      x 42" Between Posts; with Self-Contained Hydraulic Power Supply; and
      Safety Light Curtains; (Remanufactured By Keystone In 2000)

1-    Roto-Finish 96"D Vibratory Finisher, S/N Unknown; with Powered Cleated
      Belt Infeed Conveyor

1-    K.R. Wilson Model DCT-38 38-Ton Trim Press, S/N 10980-001, (1985);
      Hydraulic, 4-Post, Downacting, 40" x 26" Between Posts; with
      Self-Contained Hydraulic Power Supply

1-    Roto-Finish 96"D Vibratory Finisher, S/N Unknown, Asset #4

1-    Manufacturer Unknown 35-Ton Hydraulic Trim Press, S/N Unknown; 4-Post,
      Downacting, Estimated 26" x 42" Between Posts; with Self-Contained
      Hydraulic Power Unit; and Safety Light Curtain

1-    Roto-Finish Model Multi-Pass 96"D Vibratory Finisher, S/N Unknown

<PAGE>

1-    Roto-Finish Model Multi-Pass 96"D Vibratory Finisher, S/N MP-94-5-4-96-A2,
      (1996); Job #3822

1-    Lester 700-Ton Aluminum Cold Chamber Die Cast Machine, S/N 8583, Asset #7,
      (1983); (Remanufactured By EPCO In 1994); Epco S.O. #9429, T-Slot Platen,
      Interface Shot End, Solid Frame Shot End Connection; with Safety Ratchets;
      Hydraulic Ejector; Allen-Bradley Model PanelView 550 PLC Controls; Visi
      Trak True Trak 2020 Monitor; and Analysis System, To Include:
            (1)   Rimrock Extractor/Sprayer
            (1)   Rimrock Multi-Link Ladler
            (1)   Onex
            (1)   Mesh Belt Air Cooling Conveyor
            (1)   Manufacturer Unknown 1,500-Lb. Gas-Fired Holding Furnace

1-    Roto-Finish Model Spiratron 72"D Vibratory Finisher, S/N ER-1822S-96-C8,
      (1996); Job #3814

1-    Lester 700-Ton Aluminum Cold Chamber Die Cast Machine, S/N 8760, Asset #8;
      (Estimated 1960s); Epco S.O. # 9056; (Remanufactured by EPCO 1990); T-Slot
      Platens, Interface Shot End, Solid Frame Shot End Connection; with Safety
      Ratchets; Solid Frame Tie Bar Pullers; Hydraulic Ejector; and Vickers
      SCS-2000 Shot Control System; To Include:
            (1)   Rimrock Extractor/Sprayer
            (1)   Rimrock Model 305 Multi-Link Automatic Ladler
            (1)   Manufacturer Unknown 500-Lb. Gas Fired Holding Furnace
            (1)   Steel Mesh Belt Air Cooling Conveyor

1-    Roto-Finish Model Spiratron 72"D Vibratory Finisher, S/N Unknown

1-    Lester 800-Ton Aluminum Cold Chamber Die Cast Machine, S/N 808, Asset #9,
      (1964); (Remanufactured By EPCO In 1991); Epco S.O. #9137, 50"V x 50"TH
      T-Slot Platen, 35"H x 36"V Die Clearance, 18" Minimum Daylight, 36"
      Maximum Daylight, 0-10-Shot Position, 28" Stroke, Motorized Die Height
      Adjustment, Closed Loop Shot End, 3-Bar Shot End Connection; with Safety
      Ratchets; Hydraulic Ejector; Allen-Bradley Model PanelView 550 PLC
      Controls; and Vickers SCS-2000 Shot Control System, To Include:
            (1)   Rimrock Model 195 Extractor/Sprayer
            (1)   Rimrock Model 465 Multi-Link Automatic Ladler
            (1)   Manufacturer Unknown 1,000-Lb. Gas-Fired Holding Furnace
            (1)   Steel Mesh Belt Air Cooling Conveyor

1-    E. A. Doyle Model DVP-30-3042 30-Ton Trim Press, S/N 3042-779-236, (1979);
      Hydraulic, 4-Post, Downacting, 30" x 42" Between Posts; with
      Self-Contained Hydraulic Power Supply

1-    Roto-Finish 96"D Vibratory Finisher, S/N Unknown

1-    Lester 600-Ton Aluminum Cold Chamber Die Cast Machine, S/N 8096, Asset
      #11; (Remanufactured By EPCO In 1991); Epco S.O. #9136, 47"V x 40"TH
      T-Slot Platen, 28.5"H x 28.5"V Die Clearance, 18" Minimum Daylight, 28"
      Maximum Daylight, 0-

<PAGE>

      6-Shot Position, 17.5" Stroke, Motorized Die Height
      Adjustment, Interface Shot End, Solid Frame Shot End Connection; with
      Safety Ratchets; Hydraulic Ejector; Visi-Track True Trak 2020 Monitor, and
      Analysis System, To Include:
            (1)   Shotbeads Sprayer
            (1)   Rimrock Automatic Extractor
            (1)   Snair Automatic Ladler
            (1)   Manufacturer Unknown 800-Lb. Gas-Fired Holding Furnace;
                  (Furnace Currently in Maintenance; Currently Not in Service;
                  Operable)
            (1)   B.C. Fabricators Steel Mesh Belt Air Cooling Conveyor

1-    Lester 1,200-Ton Aluminum Cold Chamber Die Cast Machine, S/N 15966, Asset
      #12, (1964); (Shot End Rebuilt In 2000); 65"V x 65"TH T-Slot Platen, 42"H
      x 42"V Die Clearance, 10.2" Minimum Daylight, 30" Maximum Daylight,
      2-12-Shot Position, 30" Stroke, Interface Shot End, 2-Bar Shot End
      Connection; with Safety Ratchets; Visi Trak True Trak 2020SX Monitor, and
      Analysis System, To Include:
            (1)   Rimrock Model 195 Extractor/Sprayer
            (1)   Rimrock Multi-Link Ladler (Maintenance Shop)
            (1)   Seco/Warwick 3200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
                  FSR-955-95; 47"W x 81-1/2"L x 18"H, 2,000(degree)F Maximum
                  Temperature; with Digital Temperature Controller
            (1)   Steel Mesh Belt Air Cooling Conveyor (Scrap)
      (Currently Not in Service; Inoperable)

1-    Sweco 60"D Vibratory Finisher, S/N Unknown; with Soundproof Lid

1-    New Holland Chip Wringer, S/N Not Available; 24" Diameter x 16" Depth

1-    Platnick Bridge Crane, S/N 98025, (1998); 7-1/2 Ton x 60' Span, Single
      Girder, Top Running, Overhead, Electric, Traveling; with Konecranes Model
      XL400 Electric Cable Hoist; and Pendant Control

1-    Platnick 5-Ton Bridge Crane, S/N 95037, (1995); 60' Span, Single Girder,
      Top Running, Overhead, Electric, Traveling; with Konecranes Model XL300
      Electric Cable Hoist; and Pendant Control

1-    Kitamura Model Mycenter-0 Vertical Machining Center, S/N 75257, Asset
      #5104, (1997); Dual, 12" x 18", 1" Tables, 130-Lb. Table Load Capacity,
      12" X-, 10" Y-, and 12" Z-Axis Travel, 5.3" to 17.3" Distance From Table
      Surface to Spindle Nose, 7.8" to 17.8" Distance From Column to Table
      Center Line, #30 Taper, 80 to 8,000-rpm Spindle Speeds, 3 hp Spindle
      Drive; with Spare Changer Automatic Pallet Changer; 16-Position Automatic
      Tool Changer, with Asst. #30 Taper Tool Holders; Kitamura Yasnac CNC
      Controls; and (2) Model 10 HC Custom Designed and Fabricated 10-Cell Multi
      Collet Work Hold Fixtures

3-    3-Ton Jib Cranes; Each with 3-Ton Capacity Chain Hoist, Pendant Controlled

1-    Spanco 5-Ton Jib Crane, S/N 0208205; with Shaw-Box 5-Ton Capacity Cable
      Hoist,

<PAGE>

      Pendant Controlled

1-    5-Ton Jib Crane; with Wright 5-Ton Capacity Chain Hoist, Manual

1-    Pangborn Model RG Rotoblast Shot Blast Machine, S/N 140-2RG1-681; 22" x
      30", Tumblast; with Reclaim Elevator; and Hammond Model DK-1055
      (Duskolector) Bag-Type Dust Collector, 4-Bag; (Overhauled In June 2003)

1-    BAC Model VTO-065-J Cooling Tower, (2003); Rooftop Mounted

      MACHINING

1-    Jet Model JDP-20MF 20" Single-Spindle Floor-Type Drill, S/N 7030560

1-    Mfr. Unknown 16" Single-Spindle Floor-Type Drill; with Multi-Spindle Drill
      Head

1-    Delta Rockwell 16" Single-Spindle Floor-Type Drill

1-    8" Single-End Wire Wheel Buffer

1-    Clausing Model 1667 16" 2-Spindle Production Drill, S/N 517856

1-    Lincoln Model DPF1658-2 16" Single-Spindle Floor-Type Drill, S/N 522795,
      (1992)

1-    Clausing Model 1635 16" 4-Spindle Production Drill, S/N 118087

1-    Enshu Model Type DT-CL Vertical CNC Tapping Center, S/N 345, Asset #5,
      (1994); 16" x 27-1/2" Table, 23" X-, 16" Y-, and 16" Z-Axis Travel, 120 to
      12,000-rpm Spindle Speeds, 7.3 hp, #30 Taper; with ENAC-1 CNC Control

1-    Denison Model R065LC26ID266C218A59S220 6-Ton C-Frame Press, S/N 21063,
      (1968)

1-    Enshu Model Type DT-CL Vertical CNC Tapping Center, S/N 439, Asset #4,
      (1994); 16" x 27-1/2" Table, 23" X-, 16" Y-, and 16" Z- Axis Travel, 120
      to 12,000 rpm Spindle Speeds, 7.3 hp, #30 Taper; with ENAC-1 CNC Control;
      and Haas Rotary Indexer

1-    Starrett Granite Surface Plate; 18" x 24" x 4" Table Size

1-    Starrett 12" x 18" x 4" Granite Surface Plate

1-    Manufacturer Unknown Aluminum Belt Sander; 3" Belt; with Dust Collector

1-    Mid-West Tool Custom Designed and Fabricated Brushing Press, S/N 246

1-    Clausing Model 2224 20" Single-Spindle Production Drill, S/N 106932

1-    Custom Designed & Fabricated Horizontal and Vertical Drilling Machine;
      with

<PAGE>

      Production Table

1-    Duracraft Model 45161 16" Single-Spindle Floor-Type Drill, S/N G03599,
      (1987)

1-    Enco Model DS-20 20"D Disc Sander, S/N 8160, (1984), 2 hp; (Currently Not
      in Service; Operable)

1-    Bridgeport Vertical Milling Machine, S/N J107727, (1967), 1 hp; 80 to
      2,720-rpm Spindle Speeds, 9" x 42" Table

1-    Gorton Drill Grinder, S/N Unknown

1-    Specially Manufactured Horizontal Drilling Machine

1-    Specially Manufactured Horizontal Drilling Machine

1-    Bridgeport Vertical Milling Machine, S/N J15328, 1 hp; 80 to 2,720-rpm
      Spindle Speeds, 9" x 42" Table; with Specially Manufactured Work Fixture

1-    Clausing Model 1667 16" Single-Spindle Production Drill, S/N 516547

1-    Takisawa Model TC-2 CNC Lathe, S/N THRMU5947, (1985); 7.37 hp, 20" Swing;
      with 8-Position Turret; and Fanuc CNC Controls

1-    Seibu Model SNC-200UP Horizontal CNC Chucker, S/N 4-71840-5; 8" Swing, 5"
      x 12" T-Slot Worktable; with Collet Chuck; Fanuc Series O-T CNC Control;
      and Oilmatic Model KTVM-5C-HM1 Automatic Oil Temperature Regulator

1-    Seibu Model SNC-200UP Horizontal CNC Chucker, S/N 4-71729-3; 8" Swing, 5"
      x 12" T-Slot Worktable; with Collet Chuck; Fanuc Series O-T CNC Control;
      and Oilmatic Model KTVM-5C-HM1 Automatic Oil Temperature Regulator

1-    Mitutoyo 48" x 72" x 10" Granite Surface Plate, S/N 2505-1

1-    Lot of Factory and Support Equipment For Both Machining and Tool Room

1-    Hitachi Seiki Model HT20SII CNC Turning Center, S/N 2843, Asset #785,
      (1995), 15 hp; CNC, 2-Axis, 5,000-rpm Spindle Speeds, 15" Maximum Swing,
      8-1/4" Maximum Turning Diameter, 15" Maximum Turning Length, 2" Bar
      Capacity; with 10-Position Turret; Collet Chuck; Aercology Mist Collector;
      Elevated Chip Conveyor; and Seiki Multi CNC Control

1-    Sugino Model ES2-2-3060 Self Feeder, S/N J11DA301219, (2004); with Collet
      Chuck; and Level Clamp

1-    Ultraline 6" W x 6' L Inclined Nose Over Conveyor, (2004); Variable Speed

1-    Powermatic Model 1100 Drill Press, S/N 0-1186-1

<PAGE>

      TOOLROOM

1-    Wellsaw Model 1118 Horizontal Band Saw, S/N 2599; 30" Part Width Capacity,
      12" Throat

1-    Carlton 3' x 10"D Radial Arm Drill, S/N Unknown; 36 to 1,500-rpm Spindle
      Speeds; with 18" x 24" Drill Box Table; and 36" x 42" T-Slot Platform, 30"
      Vertical Travel

1-    Coffing 3-Ton Chain Hoist; Pendant Controlled

1-    Dake Model 75H 75-Ton Capacity Hydraulic H-Frame Press, S/N 140208,
      (1960); 44" Between Posts

1-    Lincoln Model Tig 300/300 300-Amp. Welder, S/N AC-586982, (1984); with
      Dyna-Flux Chiller

1-    Lincoln Model Square Wave Tig 175 175-Amp. Welder, S/N 01330-41980612459,
      (1988)

1-    Bridgeport Variable-Speed Vertical Milling Machine, S/N 133804, (1951); 60
      to 4,200-rpm Variable Spindle Speeds, 9" x 48" Table; with Bausch & Lomb
      Acu-Rite II 3-Axis Digital Readout; and Machinists Vise

1-    Bridgeport Vertical Milling Machine, S/N 58781, (1962), 1 hp; 80 to
      2,720-rpm Spindle Speeds, 9" x 48" Table; with Teledyne Gurley Pathfinder
      2-Axis Digital Readout

1-    Bridgeport Vertical Milling Machine, S/N 105568, (1967), 1 hp; 80 to
      2,720-rpm Spindle Speeds, 9" x 48" Table

1-    South Bend Model CL8117C Toolroom Lathe, S/N 8668HKX12; 16" Swing, 52"
      Bed, 38" Between Centers, 1-1/2" Hole Through Spindle; with Threading
      Attachment

1-    Millport Model SJ-1760G Engine Lathe, S/N 840517, (1984); 17" Swing, 80"
      Bed, 60" Between Centers, 2" Hole Through Spindle; with Threading
      Attachment

1-    Standard-Modern Model Utilathe Series 2000 Toolroom Lathe, S/N 3873; 50 to
      1,500-rpm Spindle Speeds, 13" Swing, 42" Bed, 30" Between Centers, 1-1/2"
      Hole Through Spindle

1-    Cincinnati Bickford Model Super Service 28" Single-Spindle Production
      Drill, S/N 3L414; 14" Throat, 18" x 28" T-Slot Worktable; with Machinists
      Vise

1-    Motor-Avey Model MA6 Single-Spindle Production Drill, S/N MA581; 12"
      Throat, 21" x 22" Worktable

1-    Grob Model NS18 18" Vertical Band Saw, S/N 7311, (1953); 24" x 24"
      Worktable; with Blade Welding and Grinding Attachment

<PAGE>

1-    Supermax Model YC-2VA Vertical Milling Machine, S/N 061165, (1983), 2 hp;
      75 to 3,600-rpm Spindle Speeds, 8" x 42" T-Slot Worktable, Belt-Driven
      Head; with Yeong Chin Control

1-    Wilson Rockwell Model 40UR Hardness Tester, S/N 2233-1285

1-    Parts Washer; 22" x 32"

1-    Starrett 16" x 24" x 4" Granite Surface Plate, S/N 619755

1-    Johnson Model 142L Gas-Fired Furnace, S/N 2846; 180-BTU Maximum Input

1-    Chevalier Model FSG-618 Surface Grinder, S/N A277A040, 1 hp; Hand Feed, 8"
      Grinding Wheel; with 6" x 18" Permanent Magnetic Chuck

1-    Baldor 6" Double-End Carbide Tool Grinder

1-    Gorton Model 375 Drill Grinder

1-    Abrasive Machine Tool 6" x 18" Surface Grinder, S/N 317; Hand Feed, 12"
      Grinding Wheel; with 6" x 18" Permanent Magnetic Chuck

1-    Covel 10" x 16" Surface Grinder, S/N 17H-5022; Hydraulic Feed, 12"
      Grinding Wheel; with 10" x 16" Permanent Magnetic Chuck

1-    Lincoln Model DS-20 20"D Disc Sander, S/N 402000, (1994), 2 hp; 1,720
      Maximum rpm

1-    Grieve Model B1-650 Bake Oven, S/N 14188; Drive-In, 64"W x 80"D x 82"H

1-    Zero Model BNP55-6 2-Hole Spin Blast Cabinet, S/N 22535; 42"L x 24"D x
      30"H; with Dust Collector

1-    Atlas Copco Model GAU707 Rotary Screw Air Compressor, S/N ARP878018,
      (1987), 75 hp; with Vertical Air Receiver Tank; and Arrow Pneumatics
      Compressed Air Dryer

1-    Ingersoll-Rand Model SSR Rotary Screw Air Compressor, S/N N0293, (1993),
      50 hp; 44,514 Hours Indicated; with Vertical Air Receiver Tank

1-    Atlas Copco Model GA55 Rotary Screw Air Compressor, S/N Unknown, 75 hp;
      Approximately 50 hp; 181 Maximum psig, 57,650 Hours Indicated

1-    Hankison Model HPRP500 Air Dryer, S/N WH500A4600006110; 200 Maximum psig

1-    Van Air Model EMD400-A 400 CFM Air Dryer, S/N 97-7948K-4, (1997), 2 hp;
      350 Maximum psig

1-    Sullair Model LS20-100SL/W/SUL Rotary Screw Air Compressor, S/N
      003-122520, (2000), 100 hp; 110 Maximum psig

<PAGE>

1-    Manufacturer Unknown 30"D x 48"L x 7"H Granite Surface Plate, S/N 1129

1-    Harig Model Super 612 6" x 12" Surface Grinder, S/N 47019, (2003);
      w/Accu-Rite Qwick Count DRO

1-    Milwaukee Model MWK-4210-1 Magnetic Drill, (2000)

      MATERIAL HANDLING

1-    Yale Model GLC030BFNUAE076 3,000-Lb. LP Gas Lift Truck, S/N A809N05573V,
      (1998); 171" Lift Height, 3-Stage Mast, Solid Tire, 5,310 Hours Indicated;
      with Side Shift

1-    Hyster Model J35B 3,500-Lb. Electric Lift Truck, S/N BI60V02518N, (1992);
      118" Lift Height, 2-Stage Mast, Solid Tire, 6,975 Hours Indicated; with
      Side Shift

1-    Yale Model ESC020ABN24SV083 2,000-Lb. Stand-Up Rider-Type Electric Lift
      Truck, S/N A824N06364U, (1997); 126" Lift Height, Single Mast, Solid Tire,
      1,945 Hours Indicated

1-    Clark Model GCX25 5,000-Lb. LP Gas Lift Truck, S/N CX2300588-8805KOF,
      (1992); 205" Lift Height, Solid Tire, 4,401 Hours Indicated; with Side
      Shift

1-    Hyster Model S120E 12,000-Lb. Capacity LP Gas Lift Truck, S/N C004D08624G,
      (1986); 182" Lift Height, 3-Stage Mast, Solid Tire, 5,477 Hours Indicated

2-    Big Joe Model 52A Die Lifts, S/N 1120; and S/N Unknown

1-    Big Joe Model 29727S 1,000-Lb. Capacity Electric Die Lift

5-    Lexco Die Lift Tables; 30" x 30"

1-    Presto Model M366 1,000-Lb. Capacity Die Lift, S/N 70552; 18" Load Center

1-    Factory Cat Model 34 Walk-Behind Electric Floor Scrubber, S/N 34-11309

1-    Nissan Model GYM02L258 5,000-Lb. Electric Lift Truck, S/N JYM02-001644,
      (1998); 187" Lift Height, Solid Tire

      MISCELLANEOUS

1-    Denison Model R065LC261D266C218A59 6-Ton Trim Press, S/N 21108, Asset #22,
      (1969); Hydraulic, Gap Frame; (Out of Service)

1-    Denison Model S065MC261D267C221A59S206 6-Ton Trim Press, S/N 20642, Asset
      #18, (1967); Hydraulic, Gap Frame; (Out of Service)

1-    Lot of Miscellaneous Machine Accessories and Factory Equipment, To
      Include: Jib

<PAGE>

      Cranes; Wire Tainers; Pallet Jacks; Work Benches; Shop
      Furniture; Pallet Rack; Dump Hoppers; Bench Vises; Miscellaneous Hand and
      Power Tools; Miscellaneous Spare and Repair Parts; Miscellaneous Not in
      Use Equipment; Storage Cabinets; Fans; Pipe Threader; Oxy Acetylene Torch
      Sets; Floor Sweeper; Miscellaneous Maintenance Equipment; QPC Mold
      Temperature Controllers; QPC Water Cooling Towers; Cooling Carousel;
      Ladders; Miscellaneous Inspection Equipment; Miscellaneous Secondary
      Equipment; Rotary Shrink Wrapper; Battery Chargers; Miscellaneous
      Perishable Tooling; Lockers; Cafeteria Furniture; etc.

1-    Tennant Model 6080 Walk-Behind Electric Floor Scrubber, S/N Unknown; 1,091
      Hours Indicated

1-    Kard Model TP-30-4 30-Ton Press, S/N TK-1064; (Currently Not In Service)

1-    Denison Model GC10C09C23A68A61A46 10-Ton Press, S/N 6484-A54S05, 7-1/2 hp

1-    Denison 8-Ton Press, S/N Unknown; Estimated 8 Ton Capacity

1-    Denison 6-Ton Press

1-    Ridgid Model 500 Pipe Threader, S/N Unknown

1-    Weldotron Model 7121 7-kW Shrink Tunnel, S/N EL84471; Electric, 14"; (Not
      In Service)

1-    Sioux Model 180C Steam Cleaner, S/N 9907031, (1999); 30,000 Btus

1-    Delta 2,200-psi Pressure Washer, S/N Unknown; with 4.5 hp Honda Model
      GCV135 Gasoline Engine

1-    Clausing Model 1637 Drill Press, S/N 115789; 8" Throat

1-    Lot of Machinery and Equipment Stored in Warehouse, To Include: Drill
      Presses; Disc Sanders; Arbor Presses; Dust Collectors; etc.

1-    Lot of Office Furniture and Business Machines

1-    Genie Model Z25-8 25' Aerial Lift, S/N 188, (2000); 500-Lb. Capacity

1-    Tiocco Model T-3000-FRS Hydraulic Fluid Filter, (2003)

1-    Ingersoll-Rand Model 2545E10VFP 35-CFM Reciprocating Air Compressor, S/N
      0308080102, (2003), 10 hp; with Air Cooled Aftercooler

      MAINTENANCE

1-    Demco Model KE Floor-Type Drill, S/N 43063; 9" Throat, 16" x 16" Worktable

1-    Manufacturer Unknown H-Frame Press, S/N Unknown; 28" Between Posts; with

<PAGE>

      Enerpac Hydraulic Press

1-    Lincoln Model Power Mig 200 200-Amp. Welder, S/N K1766-1 10564
      M1011020568; 200 Amps @ 30% Duty Cycle; with Cart

1-    Milwaukee Model 6175 Cut-Off Saw, S/N 99111774; 16"D Grinding Wheel

1-    Manhattan Model 951230 Floor-Type Drill, S/N 58289, 1/2 hp; 8" Throat,
      14"D Worktable

1-    Lincoln Model Idealarc 250 250-Amp. Welder, S/N AC-307876, (1973); 140
      Amps @ 100% Duty Cycle

1-    Apex 16"D Disc Sander, 3 hp; Model and S/N Unknown;

1-    Lot of Factory and Support Equipment

      QC LAB

1-    Starrett 36"D x 48"L x 8"H Granite Surface Plate

1-    Arun Technologies Model Series 2000 Spectrometer; with Monitor; and
      Printer

1-    Phillips Model PRS-150 X-Ray Machine; with X-Ray Booth; Power Supply;
      Model MGC-23 Controls; and Ikegami Monitor

1-    Gauge Master Model Series 80-89/GMX 22" Optical Comparator, S/N 3772590,
      (1993); with Gage Master GMX 2-Axis Digital Readout

1-    Brown & Sharpe Model MicroXcel UHA Coordinate Measuring Machine, S/N
      1196-3431, (1996); 28" X-, 45" Y-, and 25" Z-Axis Travel, 33" x 53" x 4"
      Granite Worktable; with Renishaw PH9A Probe; PC Controls; and Brown &
      Sharpe Software

1-    Manufacturer Unknown 48"D x 60"L x 8"H Granite Surface Plate

1-    Sheffield Model Cordax 1808 Coordinate Measuring Machine, S/N 249671085;
      27" X-, 25" Y-, and 17" Z-Axis Travel, 30"D x 54"L x 8"H Granite Surface
      Plate; with Renishaw TP1S Probe; Digital Readout; and Smart Terminal
      Software, Version 2

1-    Lot of Miscellaneous QC Lab Equipment, To Include: Edmunds Air Gauges; Pin
      Gauge Sets; Gauge Block Sets; Height Gauges; Laser Mike; Video Camera;
      Furnishings; PC's; Micrometers; Plotter; Blue Print Copier; Plug Gauges;
      etc.

1-    Hewlett Packard Model 7595A Draftmaster I Plotter, S/N 2644A00891

1-    Visi-Trak Model True Trak 2020/M91-6002 Monitor and Analysis System, S/N
      95002

1-    3M Model 500 Microfilm Reader/Printer

<PAGE>

      OFFICE

1-    Lot of Office Furniture and Business Machines, To Include, But Not Limited
      To: Desks; Chairs; File Cabinets; Tables; Televisions; Overhead
      Projectors; Calculators; Typewriters; Teleconferencing Equipment;
      Cabinets; Partitions; Breakroom Furniture; etc.

1-    Lot of Computer and Peripheral Equipment, To Include: Personal Computers;
      File Servers; Monitors; Printers; Facsimile Machines; Photocopiers;
      Network Communications Equipment; etc.

      WAREHOUSE

1-    K.R. Wilson Model DCT-28 28-Ton Trim Press, S/N 2494, (1968);
      (Remanufactured By EPCO In 2000), with Light Curtain

1-    Keystone 30-Ton Trim Press, S/N 3904, (1995); Hydraulic, 4-Post, Upacting,
      24" x 36" Between Posts; with Self-Contained Hydraulic Power Supply (Not
      in Service; Operable)

1-    Keystone 35-Ton Trim Press, S/N 005, (1987); Hydraulic, 4-Post, Upacting,
      24" x 36" Between Posts

1-    Denison Model S065MC281C221C224 6-Ton Trim Press, S/N 15884-A72A59,
      (1960), 5 hp; Hydraulic, Gap Frame, 18" Daylight, 7" Throat, 12" Stroke,
      3.25" Cylinder Bore

1-    Denison Model GC10C09C23A68A61A46 10-Ton Trim Press, S/N 6483-A54S05,
      (1951); Hydraulic, Gap Frame (Currently Not in Service; Operable)

1-    Denison Model 6484 10-Ton Trim Press; Hydraulic, Gap Frame

1-    Denison Model GC10C61D15A68 10-Ton Trim Press, S/N 13825; Hydraulic, Gap
      Frame

2-    Mid-West Tool 6-Station Indexing Machining Centers, S/N 273; Each Station
      with (2) Sugino Drill Heads; and Allen-Bradley Model PanelView 550 PLC
      Controls; (1 Located Off Site)

1-    K.R. Wilson Model DCT-28 28-Ton Trim Press, S/N 2629, (1970); Hydraulic,
      4-Post, 24" x 36" Between Posts; (Remanufactured 2000)

1-    Duracraft Model 45161 16" Single-Spindle Floor-Type Drill, S/N Not
      Available

1-    Lincoln Model DPF1658-2 16" Single-Spindle Floor-Type Drill, S/N 522805,
      (1992)

1-    Clausing Floor-Type Drill; (Tags Painted)

<PAGE>

1-    Bridgeport Vertical Milling Machine, S/N J97046, (1955); 80 to 2,720-rpm
      Spindle Speeds, 9" x 42" Table; with Specially Manufactured Work Fixture

1-    Spin Blast Shot Blast Machine; Spinner Hanger Type, 60" x 48" x 72", 6,428
      Hours Indicated; with Reclaim and Outside Dust Collector; (Currently Not
      in Service; Operable)

1-    Clark Model GCS20MB 4,000-Lb. LP Gas Lift Truck, S/N G138MB-1127-6920KOF,
      (1987); 188" Lift Height, Solid Tire; (Currently Not in Service; Not
      Operable)

1-    Dayton Model 6H011B 1,400-psi Steam Cleaner, S/N C24015;
      2.2-Gallons/Minute, 229,000-Btus/Hour

<PAGE>

                                    EXHIBIT A

                        RELEASE AND TERMINATION OF LIENS

            Reference is hereby made to the Loan and Security Agreement, dated
as of December 18, 2003 (as heretofore amended or otherwise modified and as
further amended, modified, supplemented, extended, renewed, restated or
replaced, the "Loan Agreement"), by and among Lexington Precision Corporation
("LPC") and Lexington Rubber Group, Inc. ("LRG"), as Borrowers (LPC and LRG,
each a "Borrower" and, collectively, the "Borrowers"), the lenders from time to
time party thereto (the "Lenders"), and Ableco Finance LLC, in its capacity as
agent for the Lenders (in such capacity, the "Secured Party"). The Secured
Party, on behalf of itself and the Lenders, holds a security interest in and
lien on the assets and property of LPC. The Secured Party and the Lenders have
been advised that LPC is selling, conveying, transferring and assigning to
Premier Tool & Die Cast Corp. or an affiliate thereof ("Buyer") certain assets
consisting of the equipment and inventory listed on Schedule I attached hereto
("Purchased Assets"), located at LPC's Lexington Die Casting Division in
Lakewood, New York. As a condition to such proposed sale, the Secured Party is
required to release all of its liens on such Purchased Assets.

            1. Release of Security Interest. Effective upon receipt by the
Working Capital Agent (as defined below) of the payment set forth in Section 2
hereof, the Secured Party hereby releases, terminates and discharges, without
recourse and without any representation or warranty of any kind, express or
implied, all security interests and liens of any nature whatsoever in its favor
in or on the Purchased Assets. Nothing contained herein shall be deemed a
release or termination by the Secured Party of any security interests in and
liens on any assets of any Borrower other than the Purchased Assets, all of
which shall continue in full force and effect. Except as specifically set forth
herein, nothing contained herein shall be construed in any manner to constitute
a waiver, release or termination or to otherwise limit or impair any of the
obligations or indebtedness of any Borrower or any other person or entity to the
Secured Party and the Lenders, or any duties, obligations or responsibilities of
the Borrowers or any other person or entity to the Secured Party and the
Lenders.

            2. Effectiveness of Release. The release, termination and discharge
of the Secured Party's security interests in and liens on the Purchased Assets
pursuant to Section 1 hereof shall be effective, without further action by the
Secured Party, upon the Working Capital Agent's receipt, from or on behalf of
the Borrowers (including by direct payment by the Buyer), of the Initial Payment
and the Inventory Purchase Price (each as defined below) in an aggregate amount
of not less than $2,452,000 in immediately available funds in a bank account of
the Working Capital Agent specified in writing by the Working Capital Agent to
the Borrowers.

            3. Further Assurances. The Secured Party hereby agrees that, after
receipt of the payment set forth in Section 2 hereof by the Working Capital
Agent, it will file, at the Borrowers' sole cost and expense, a UCC financing
statement amendment in the form attached hereto as Annex A. The Secured Party
will, at the reasonable request of the Borrowers and after receipt of the
payment set forth in Section 2 hereof by the Working Capital Agent, execute
and/or deliver such instruments and other writings as may be necessary to effect
or evidence the termination of the liens of the Secured Party on the Purchased
Assets, but without representation,

<PAGE>

warranty or recourse to the Secured Party or the Lenders and at the sole cost
and expense of the Borrowers.

            4. Definitions: As used herein, the following terms shall have the
following meanings:

                  "Initial Payment" means that portion of the purchase price
being paid in cash on the date hereof by Buyer for the Purchased Assets (other
than any Purchased Assets constituting inventory) in an aggregate amount of not
less than $2,360,000.

                  "Inventory Purchase Price" means the purchase price being paid
in cash on the date thereof by Buyer for the Purchased Assets constituting
inventory in an aggregate amount of not less than $92,000.

                  "Working Capital Agent" means Wachovia Bank, National
Association, as successor by merger to Congress Financial Corporation, in its
capacity as agent under the Amended and Restated Loan and Security Agreement,
dated as of December 18, 2003, by and among the Borrowers, Wachovia Bank,
National Association, as successor by merger to Congress Financial Corporation,
as agent, The CIT Group/Business Credit, Inc., as co-agent, and the lenders from
time to time party thereto, as amended.

            5. Miscellaneous. Delivery of an executed counterpart of this
Release and Termination of Liens by facsimile or electronic mail shall be
equally effective as delivery of a manually executed counterpart. This Release
and Termination of Liens shall be governed by and interpreted and determined in
accordance with the laws of the State of New York (without regard to principles
of conflict of laws).

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

<PAGE>

            IN WITNESS WHEREOF, the undersigned has duly executed this
instrument as of August __, 2005.

                             ABLECO FINANCE LLC, as Secured Party and on behalf
                             of the Lenders

                             By: ________________________________________
                             Name: ______________________________________
                             Title: _____________________________________

<PAGE>

                              SCHEDULE I TO RELEASE

                                PURCHASED ASSETS

1. All inventory of Lexington Precision Corporation's Die Casting Division
consisting of metals, packaging and pallets located at Lexington Precision
Corporation's facility at 201 Winchester Road, Lakewood, NY on the date hereof,
to the extent sold to Buyer pursuant to the Purchase Agreement.

2. The following machinery and equipment:

One (1) HPM Model D-1000-A 1,000-Ton Aluminum Cold Chamber Die Cast Machine, S/N
R95356/64-088, including:
      (1)   Rimrock Multi-Link Auto Reciprocator/Die Sprayer
      (1)   Advance Model SL-1200 Automatic Ladler, S/N 31524-98, (1998)
      (1)   Rimrock Multi-Link Extractor
      (1)   MPH 5,000-Lb. Gas-Fired Holding Furnace, S/N 6094-82; with
            Temperature Controls

One (1) HPM Model D-1000-A 1,000-Ton Aluminum Cold Chamber Die Cast Machine, S/N
R98176/65-151, including
      (1)   Rimrock Multi-Link Auto Reciprocator/Die Sprayer
      (1)   Rimrock Model 305 Multi-Link Automatic Ladler
      (1)   Rimrock Multi-Link Extractor
      (1)   Firebrand 3,500-Lb. Gas-Fired Holding Furnace, S/N 9038, with
            Temperature Controls

One (1) Prince Model 836 CCA 800-Ton Aluminum Cold Chamber Die Cast Machine,
DA0008 including:
      (1)   Advance Model SR-1150 Automatic Reciprocator/Die Sprayers
      (1)   Advance Model SL-1500 Automatic Ladler, S/N 32070-99
      (1)   ABB Type IRB4400-M98 Industrial Robot, S/N 44-12809
      (1)   O'Brien/Gere Model PD512-00 3,500-Lb. Gas-Fired Holding Furnace, S/N
            20006-01

One (1) Prince Model 836 CCA 800-Ton Aluminum Cold Chamber Die Cast Machine,
DA0011, including:
      Advance Model SR-1150 Automatic Reciprocator/Die Sprayers
      Advance Model SL-1500 Automatic Ladler, S/N 3019-00
      (1)   ABB IRB4400 M2000 Industrial Robot, S/N 44-20742
      (1)   Seco/Warwick 3,200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
            FSR-954-95

One (1) Idra Model OL-700 770-Ton Aluminum Cold Chamber Die Cast Machine, S/N
7187 including:
      (1)   Rimrock Automatic Extractor/Die Sprayer
      (1)   Rimrock Ladler S/N C10113
      (1)   Seco/Warwick 3,200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
            FSR-956-95

One (1) Idra Model OL-700 IDRP 770-Ton Aluminum Cold Chamber Die Cast Machine,
S/N 6932, including:
      (1)   Rimrock Automatic Extractor/Sprayer
      (1)   Rimrock Model 405 Automatic Ladler, S/N 6231
      (1)   O'Brien & Gere Model ND514-99 1,500-Lb. Gas Fired Aluminum Holding
            Furnace, S/N 20017

One (1) Prince Model 836 CCA 800-Ton Aluminum Cold Chamber Die Cast Machine, S/N
DA1038, including:
      (1)   Advance Model SR1150 Automatic Reciprocator/Die Sprayer, S/N 3018-00
      (1)   Advance Model SL-1500 Automatic Ladler, S/N 32101-00
      (1)   ABB Type IRB4400M2000 Industrial Robot, S/N 44-21383
      (1)   Seco/Warwick 3,200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
            F-628-95

<PAGE>

      MELT ROOM

1-    O'Brien & Gere Model MD127-98 Melt Furnace, S/N 99004-1, Asset #3, (1999);
      Vertical, Stack Type; with 84" x 48" x 24" Deep Conveyor Shaker; Mayfran
      36"W x 15"L Elevated Scrap Conveyor, with Stack Shaker; Gas-Fired
      Stack-Type Melting Furnace, 72"D x 60"H, with (3) Burners, Rotating Base,
      Structural Steel Supports, and Mezzanine; Operator Control Panel, with
      Allen-Bradley Model PanelView 550 PLC Controls; and Digital Temperature
      Controllers

1-    MPH Model ACM-2000 20,000-Lb. Capacity Reverberatory Furnace, S/N 3978-79,
      Asset #2, (1979); Aluminum, Melt, 5,000,000-Btus Input, 2,000(degree)F
      Maximum Temperature, Gas Fired; with Epic Burners; North American Control
      Panel, with Digital Temperature Controllers; and Single Door, with
      Pneumatic Lift; (Refractory Brick Rebuilt 2001)

1-    MPH Model ACM-2000 20,000-Lb. Reverberatory Furnace, S/N 856-74, Asset #1,
      (1974); Aluminum, Melt, 5,000,000-Btus Input; 2,000(degree)F Maximum
      Temperature, Gas Fired; with Epic Burners; North American Control Panel,
      with Digital Temperature Controllers; and Single-Swing Open Door;
      (Refractory Brick Replaced 1994; Refractory Brick Rebuilt 2001)

1-    Amcor Injecta Model II Fluxing Machine, S/N 66-201, (1966); with Kozma
      Gas-Fired Charging Stand; Carts; and Tanks

      DIE CAST AREA

1-    Miller-Moorehead Machinery 60-Ton Trim Press, S/N 1169; Hydraulic, 4-Post,
      90" x 32" Between Posts

1-    Manufacturer Unknown 35-Ton Hydraulic Trim Press; 4-Post, Downacting, 26"
      x 42" Between Posts; with Self-Contained Hydraulic Power Supply; and
      Safety Light Curtains; (Remanufactured By Keystone In 2000)

1-    Roto-Finish 96"D Vibratory Finisher, S/N Unknown; with Powered Cleated
      Belt Infeed Conveyor

1-    K.R. Wilson Model DCT-38 38-Ton Trim Press, S/N 10980-001, (1985);
      Hydraulic, 4-Post, Downacting, 40" x 26" Between Posts; with
      Self-Contained Hydraulic Power Supply

1-    Roto-Finish 96"D Vibratory Finisher, S/N Unknown, Asset #4

1-    Manufacturer Unknown 35-Ton Hydraulic Trim Press, S/N Unknown; 4-Post,
      Downacting, Estimated 26" x 42" Between Posts; with Self-Contained
      Hydraulic Power Unit; and Safety Light Curtain

1-    Roto-Finish Model Multi-Pass 96"D Vibratory Finisher, S/N Unknown

<PAGE>

1-    Roto-Finish Model Multi-Pass 96"D Vibratory Finisher, S/N MP-94-5-4-96-A2,
      (1996); Job #3822

1-    Lester 700-Ton Aluminum Cold Chamber Die Cast Machine, S/N 8583, Asset #7,
      (1983); (Remanufactured By EPCO In 1994); Epco S.O. #9429, T-Slot Platen,
      Interface Shot End, Solid Frame Shot End Connection; with Safety Ratchets;
      Hydraulic Ejector; Allen-Bradley Model PanelView 550 PLC Controls; Visi
      Trak True Trak 2020 Monitor; and Analysis System, To Include:
            (1)   Rimrock Extractor/Sprayer
            (1)   Rimrock Multi-Link Ladler
            (1)   Onex
            (1)   Mesh Belt Air Cooling Conveyor
            (1)   Manufacturer Unknown 1,500-Lb. Gas-Fired Holding Furnace

1-    Roto-Finish Model Spiratron 72"D Vibratory Finisher, S/N ER-1822S-96-C8,
      (1996); Job #3814

1-    Lester 700-Ton Aluminum Cold Chamber Die Cast Machine, S/N 8760, Asset #8;
      (Estimated 1960s); Epco S.O. # 9056; (Remanufactured by EPCO 1990); T-Slot
      Platens, Interface Shot End, Solid Frame Shot End Connection; with Safety
      Ratchets; Solid Frame Tie Bar Pullers; Hydraulic Ejector; and Vickers
      SCS-2000 Shot Control System; To Include:
            (1)   Rimrock Extractor/Sprayer
            (1)   Rimrock Model 305 Multi-Link Automatic Ladler
            (1)   Manufacturer Unknown 500-Lb. Gas Fired Holding Furnace
            (1)   Steel Mesh Belt Air Cooling Conveyor

1-    Roto-Finish Model Spiratron 72"D Vibratory Finisher, S/N Unknown

1-    Lester 800-Ton Aluminum Cold Chamber Die Cast Machine, S/N 808, Asset #9,
      (1964); (Remanufactured By EPCO In 1991); Epco S.O. #9137, 50"V x 50"TH
      T-Slot Platen, 35"H x 36"V Die Clearance, 18" Minimum Daylight, 36"
      Maximum Daylight, 0-10-Shot Position, 28" Stroke, Motorized Die Height
      Adjustment, Closed Loop Shot End, 3-Bar Shot End Connection; with Safety
      Ratchets; Hydraulic Ejector; Allen-Bradley Model PanelView 550 PLC
      Controls; and Vickers SCS-2000 Shot Control System, To Include:
            (1)   Rimrock Model 195 Extractor/Sprayer
            (1)   Rimrock Model 465 Multi-Link Automatic Ladler
            (1)   Manufacturer Unknown 1,000-Lb. Gas-Fired Holding Furnace
            (1)   Steel Mesh Belt Air Cooling Conveyor

1-    E. A. Doyle Model DVP-30-3042 30-Ton Trim Press, S/N 3042-779-236, (1979);
      Hydraulic, 4-Post, Downacting, 30" x 42" Between Posts; with
      Self-Contained Hydraulic Power Supply

1-    Roto-Finish 96"D Vibratory Finisher, S/N Unknown

1-    Lester 600-Ton Aluminum Cold Chamber Die Cast Machine, S/N 8096, Asset
      #11; (Remanufactured By EPCO In 1991); Epco S.O. #9136, 47"V x 40"TH
      T-Slot Platen, 28.5"H x 28.5"V Die Clearance, 18" Minimum Daylight, 28"
      Maximum Daylight, 0-

<PAGE>

      6-Shot Position, 17.5" Stroke, Motorized Die Height Adjustment, Interface
      Shot End, Solid Frame Shot End Connection; with Safety Ratchets; Hydraulic
      Ejector; Visi-Track True Trak 2020 Monitor, and Analysis System, To
      Include:
            (1)   Shotbeads Sprayer
            (1)   Rimrock Automatic Extractor
            (1)   Snair Automatic Ladler
            (1)   Manufacturer Unknown 800-Lb. Gas-Fired Holding Furnace;
                  (Furnace Currently in Maintenance; Currently Not in Service;
                  Operable)
            (1)   B.C. Fabricators Steel Mesh Belt Air Cooling Conveyor

1-    Lester 1,200-Ton Aluminum Cold Chamber Die Cast Machine, S/N 15966, Asset
      #12, (1964); (Shot End Rebuilt In 2000); 65"V x 65"TH T-Slot Platen, 42"H
      x 42"V Die Clearance, 10.2" Minimum Daylight, 30" Maximum Daylight,
      2-12-Shot Position, 30" Stroke, Interface Shot End, 2-Bar Shot End
      Connection; with Safety Ratchets; Visi Trak True Trak 2020SX Monitor, and
      Analysis System, To Include:
            (1)   Rimrock Model 195 Extractor/Sprayer
            (1)   Rimrock Multi-Link Ladler (Maintenance Shop)

            (1)   Seco/Warwick 3200-Lb. Gas-Fired Aluminum Holding Furnace, S/N
                  FSR-955-95; 47"W x 81-1/2"L x 18"H, 2,000(degree)F Maximum
                  Temperature; with Digital Temperature Controller
            (1)   Steel Mesh Belt Air Cooling Conveyor (Scrap)
      (Currently Not in Service; Inoperable)

1-    Sweco 60"D Vibratory Finisher, S/N Unknown; with Soundproof Lid

1-    New Holland Chip Wringer, S/N Not Available; 24" Diameter x 16" Depth

1-    Platnick Bridge Crane, S/N 98025, (1998); 7-1/2 Ton x 60' Span, Single
      Girder, Top Running, Overhead, Electric, Traveling; with Konecranes Model
      XL400 Electric Cable Hoist; and Pendant Control

1-    Platnick 5-Ton Bridge Crane, S/N 95037, (1995); 60' Span, Single Girder,
      Top Running, Overhead, Electric, Traveling; with Konecranes Model XL300
      Electric Cable Hoist; and Pendant Control

1-    Kitamura Model Mycenter-0 Vertical Machining Center, S/N 75257, Asset
      #5104, (1997); Dual, 12" x 18", 1" Tables, 130-Lb. Table Load Capacity,
      12" X-, 10" Y-, and 12" Z-Axis Travel, 5.3" to 17.3" Distance From Table
      Surface to Spindle Nose, 7.8" to 17.8" Distance From Column to Table
      Center Line, #30 Taper, 80 to 8,000-rpm Spindle Speeds, 3 hp Spindle
      Drive; with Spare Changer Automatic Pallet Changer; 16-Position Automatic
      Tool Changer, with Asst. #30 Taper Tool Holders; Kitamura Yasnac CNC
      Controls; and (2) Model 10 HC Custom Designed and Fabricated 10-Cell Multi
      Collet Work Hold Fixtures

3-    3-Ton Jib Cranes; Each with 3-Ton Capacity Chain Hoist, Pendant Controlled

1-    Spanco 5-Ton Jib Crane, S/N 0208205; with Shaw-Box 5-Ton Capacity Cable
      Hoist,

<PAGE>

      Pendant Controlled

1-    5-Ton Jib Crane; with Wright 5-Ton Capacity Chain Hoist, Manual

1-    Pangborn Model RG Rotoblast Shot Blast Machine, S/N 140-2RG1-681; 22" x
      30", Tumblast; with Reclaim Elevator; and Hammond Model DK-1055
      (Duskolector) Bag-Type Dust Collector, 4-Bag; (Overhauled In June 2003)

1-    BAC Model VTO-065-J Cooling Tower, (2003); Rooftop Mounted

      MACHINING

1-    Jet Model JDP-20MF 20" Single-Spindle Floor-Type Drill, S/N 7030560

1-    Mfr. Unknown 16" Single-Spindle Floor-Type Drill; with Multi-Spindle Drill
      Head

1-    Delta Rockwell 16" Single-Spindle Floor-Type Drill

1-    8" Single-End Wire Wheel Buffer

1-    Clausing Model 1667 16" 2-Spindle Production Drill, S/N 517856

1-    Lincoln Model DPF1658-2 16" Single-Spindle Floor-Type Drill, S/N 522795,
      (1992)

1-    Clausing Model 1635 16" 4-Spindle Production Drill, S/N 118087

1-    Enshu Model Type DT-CL Vertical CNC Tapping Center, S/N 345, Asset #5,
      (1994); 16" x 27-1/2" Table, 23" X-, 16" Y-, and 16" Z-Axis Travel, 120 to
      12,000-rpm Spindle Speeds, 7.3 hp, #30 Taper; with ENAC-1 CNC Control

1-    Denison Model R065LC26ID266C218A59S220 6-Ton C-Frame Press, S/N 21063,
      (1968)

1-    Enshu Model Type DT-CL Vertical CNC Tapping Center, S/N 439, Asset #4,
      (1994); 16" x 27-1/2" Table, 23" X-, 16" Y-, and 16" Z- Axis Travel, 120
      to 12,000 rpm Spindle Speeds, 7.3 hp, #30 Taper; with ENAC-1 CNC Control;
      and Haas Rotary Indexer

1-    Starrett Granite Surface Plate; 18" x 24" x 4" Table Size

1-    Starrett 12" x 18" x 4" Granite Surface Plate

1-    Manufacturer Unknown Aluminum Belt Sander; 3" Belt; with Dust Collector

1-    Mid-West Tool Custom Designed and Fabricated Brushing Press, S/N 246

1-    Clausing Model 2224 20" Single-Spindle Production Drill, S/N 106932

1-    Custom Designed & Fabricated Horizontal and Vertical Drilling Machine;
      with

<PAGE>

      Production Table

1-    Duracraft Model 45161 16" Single-Spindle Floor-Type Drill, S/N G03599,
      (1987)

1-    Enco Model DS-20 20"D Disc Sander, S/N 8160, (1984), 2 hp; (Currently Not
      in Service; Operable)

1-    Bridgeport Vertical Milling Machine, S/N J107727, (1967), 1 hp; 80 to
      2,720-rpm Spindle Speeds, 9" x 42" Table

1-    Gorton Drill Grinder, S/N Unknown

1-    Specially Manufactured Horizontal Drilling Machine

1-    Specially Manufactured Horizontal Drilling Machine

1-    Bridgeport Vertical Milling Machine, S/N J15328, 1 hp; 80 to 2,720-rpm
      Spindle Speeds, 9" x 42" Table; with Specially Manufactured Work Fixture

1-    Clausing Model 1667 16" Single-Spindle Production Drill, S/N 516547

1-    Takisawa Model TC-2 CNC Lathe, S/N THRMU5947, (1985); 7.37 hp, 20" Swing;
      with 8-Position Turret; and Fanuc CNC Controls

1-    Seibu Model SNC-200UP Horizontal CNC Chucker, S/N 4-71840-5; 8" Swing, 5"
      x 12" T-Slot Worktable; with Collet Chuck; Fanuc Series O-T CNC Control;
      and Oilmatic Model KTVM-5C-HM1 Automatic Oil Temperature Regulator

1-    Seibu Model SNC-200UP Horizontal CNC Chucker, S/N 4-71729-3; 8" Swing, 5"
      x 12" T-Slot Worktable; with Collet Chuck; Fanuc Series O-T CNC Control;
      and Oilmatic Model KTVM-5C-HM1 Automatic Oil Temperature Regulator

1-    Mitutoyo 48" x 72" x 10" Granite Surface Plate, S/N 2505-1

1-    Lot of Factory and Support Equipment For Both Machining and Tool Room

1-    Hitachi Seiki Model HT20SII CNC Turning Center, S/N 2843, Asset #785,
      (1995), 15 hp; CNC, 2-Axis, 5,000-rpm Spindle Speeds, 15" Maximum Swing,
      8-1/4" Maximum Turning Diameter, 15" Maximum Turning Length, 2" Bar
      Capacity; with 10-Position Turret; Collet Chuck; Aercology Mist Collector;
      Elevated Chip Conveyor; and Seiki Multi CNC Control

1-    Sugino Model ES2-2-3060 Self Feeder, S/N J11DA301219, (2004); with Collet
      Chuck; and Level Clamp

1-    Ultraline 6" W x 6' L Inclined Nose Over Conveyor, (2004); Variable Speed

1-    Powermatic Model 1100 Drill Press, S/N 0-1186-1

<PAGE>

      TOOLROOM

1-    Wellsaw Model 1118 Horizontal Band Saw, S/N 2599; 30" Part Width Capacity,
      12" Throat

1-    Carlton 3' x 10"D Radial Arm Drill, S/N Unknown; 36 to 1,500-rpm Spindle
      Speeds; with 18" x 24" Drill Box Table; and 36" x 42" T-Slot Platform, 30"
      Vertical Travel

1-    Coffing 3-Ton Chain Hoist; Pendant Controlled

1-    Dake Model 75H 75-Ton Capacity Hydraulic H-Frame Press, S/N 140208,
      (1960); 44" Between Posts

1-    Lincoln Model Tig 300/300 300-Amp. Welder, S/N AC-586982, (1984); with
      Dyna-Flux Chiller

1-    Lincoln Model Square Wave Tig 175 175-Amp. Welder, S/N 01330-41980612459,
      (1988)

1-    Bridgeport Variable-Speed Vertical Milling Machine, S/N 133804, (1951); 60
      to 4,200-rpm Variable Spindle Speeds, 9" x 48" Table; with Bausch & Lomb
      Acu-Rite II 3-Axis Digital Readout; and Machinists Vise

1-    Bridgeport Vertical Milling Machine, S/N 58781, (1962), 1 hp; 80 to
      2,720-rpm Spindle Speeds, 9" x 48" Table; with Teledyne Gurley Pathfinder
      2-Axis Digital Readout

1-    Bridgeport Vertical Milling Machine, S/N 105568, (1967), 1 hp; 80 to
      2,720-rpm Spindle Speeds, 9" x 48" Table

1-    South Bend Model CL8117C Toolroom Lathe, S/N 8668HKX12; 16" Swing, 52"
      Bed, 38" Between Centers, 1-1/2" Hole Through Spindle; with Threading
      Attachment

1-    Millport Model SJ-1760G Engine Lathe, S/N 840517, (1984); 17" Swing, 80"
      Bed, 60" Between Centers, 2" Hole Through Spindle; with Threading
      Attachment

1-    Standard-Modern Model Utilathe Series 2000 Toolroom Lathe, S/N 3873; 50 to
      1,500-rpm Spindle Speeds, 13" Swing, 42" Bed, 30" Between Centers, 1-1/2"
      Hole Through Spindle

1-    Cincinnati Bickford Model Super Service 28" Single-Spindle Production
      Drill, S/N 3L414; 14" Throat, 18" x 28" T-Slot Worktable; with Machinists
      Vise

1-    Motor-Avey Model MA6 Single-Spindle Production Drill, S/N MA581; 12"
      Throat, 21" x 22" Worktable

1-    Grob Model NS18 18" Vertical Band Saw, S/N 7311, (1953); 24" x 24"
      Worktable; with Blade Welding and Grinding Attachment

<PAGE>

1-    Supermax Model YC-2VA Vertical Milling Machine, S/N 061165, (1983), 2 hp;
      75 to 3,600-rpm Spindle Speeds, 8" x 42" T-Slot Worktable, Belt-Driven
      Head; with Yeong Chin Control

1-    Wilson Rockwell Model 40UR Hardness Tester, S/N 2233-1285

1-    Parts Washer; 22" x 32"

1-    Starrett 16" x 24" x 4" Granite Surface Plate, S/N 619755

1-    Johnson Model 142L Gas-Fired Furnace, S/N 2846; 180-BTU Maximum Input

1-    Chevalier Model FSG-618 Surface Grinder, S/N A277A040, 1 hp; Hand Feed, 8"
      Grinding Wheel; with 6" x 18" Permanent Magnetic Chuck

1-    Baldor 6" Double-End Carbide Tool Grinder

1-    Gorton Model 375 Drill Grinder

1-    Abrasive Machine Tool 6" x 18" Surface Grinder, S/N 317; Hand Feed, 12"
      Grinding Wheel; with 6" x 18" Permanent Magnetic Chuck

1-    Covel 10" x 16" Surface Grinder, S/N 17H-5022; Hydraulic Feed, 12"
      Grinding Wheel; with 10" x 16" Permanent Magnetic Chuck

1-    Lincoln Model DS-20 20"D Disc Sander, S/N 402000, (1994), 2 hp; 1,720
      Maximum rpm

1-    Grieve Model B1-650 Bake Oven, S/N 14188; Drive-In, 64"W x 80"D x 82"H

1-    Zero Model BNP55-6 2-Hole Spin Blast Cabinet, S/N 22535; 42"L x 24"D x
      30"H; with Dust Collector

1-    Atlas Copco Model GAU707 Rotary Screw Air Compressor, S/N ARP878018,
      (1987), 75 hp; with Vertical Air Receiver Tank; and Arrow Pneumatics
      Compressed Air Dryer

1-    Ingersoll-Rand Model SSR Rotary Screw Air Compressor, S/N N0293, (1993),
      50 hp; 44,514 Hours Indicated; with Vertical Air Receiver Tank

1-    Atlas Copco Model GA55 Rotary Screw Air Compressor, S/N Unknown, 75 hp;
      Approximately 50 hp; 181 Maximum psig, 57,650 Hours Indicated

1-    Hankison Model HPRP500 Air Dryer, S/N WH500A4600006110; 200 Maximum psig

1-    Van Air Model EMD400-A 400 CFM Air Dryer, S/N 97-7948K-4, (1997), 2 hp;
      350 Maximum psig

1-    Sullair Model LS20-100SL/W/SUL Rotary Screw Air Compressor, S/N
      003-122520, (2000), 100 hp; 110 Maximum psig

<PAGE>

1-    Manufacturer Unknown 30"D x 48"L x 7"H Granite Surface Plate, S/N 1129

1-    Harig Model Super 612 6" x 12" Surface Grinder, S/N 47019, (2003);
      w/Accu-Rite Qwick Count DRO

1-    Milwaukee Model MWK-4210-1 Magnetic Drill, (2000)

      MATERIAL HANDLING

1-    Yale Model GLC030BFNUAE076 3,000-Lb. LP Gas Lift Truck, S/N A809N05573V,
      (1998); 171" Lift Height, 3-Stage Mast, Solid Tire, 5,310 Hours Indicated;
      with Side Shift

1-    Hyster Model J35B 3,500-Lb. Electric Lift Truck, S/N BI60V02518N, (1992);
      118" Lift Height, 2-Stage Mast, Solid Tire, 6,975 Hours Indicated; with
      Side Shift

1-    Yale Model ESC020ABN24SV083 2,000-Lb. Stand-Up Rider-Type Electric Lift
      Truck, S/N A824N06364U, (1997); 126" Lift Height, Single Mast, Solid Tire,
      1,945 Hours Indicated

1-    Clark Model GCX25 5,000-Lb. LP Gas Lift Truck, S/N CX2300588-8805KOF,
      (1992); 205" Lift Height, Solid Tire, 4,401 Hours Indicated; with Side
      Shift

1-    Hyster Model S120E 12,000-Lb. Capacity LP Gas Lift Truck, S/N C004D08624G,
      (1986); 182" Lift Height, 3-Stage Mast, Solid Tire, 5,477 Hours Indicated

2-    Big Joe Model 52A Die Lifts, S/N 1120; and S/N Unknown

1-    Big Joe Model 29727S 1,000-Lb. Capacity Electric Die Lift

5-    Lexco Die Lift Tables; 30" x 30"

1-    Presto Model M366 1,000-Lb. Capacity Die Lift, S/N 70552; 18" Load Center

1-    Factory Cat Model 34 Walk-Behind Electric Floor Scrubber, S/N 34-11309

1-    Nissan Model GYM02L258 5,000-Lb. Electric Lift Truck, S/N JYM02-001644,
      (1998); 187" Lift Height, Solid Tire

      MISCELLANEOUS

1-    Denison Model R065LC261D266C218A59 6-Ton Trim Press, S/N 21108, Asset #22,
      (1969); Hydraulic, Gap Frame; (Out of Service)

1-    Denison Model S065MC261D267C221A59S206 6-Ton Trim Press, S/N 20642, Asset
      #18, (1967); Hydraulic, Gap Frame; (Out of Service)

1-    Lot of Miscellaneous Machine Accessories and Factory Equipment, To
      Include: Jib

<PAGE>

      Cranes; Wire Tainers; Pallet Jacks; Work Benches; Shop Furniture; Pallet
      Rack; Dump Hoppers; Bench Vises; Miscellaneous Hand and Power Tools;
      Miscellaneous Spare and Repair Parts; Miscellaneous Not in Use Equipment;
      Storage Cabinets; Fans; Pipe Threader; Oxy Acetylene Torch Sets; Floor
      Sweeper; Miscellaneous Maintenance Equipment; QPC Mold Temperature
      Controllers; QPC Water Cooling Towers; Cooling Carousel; Ladders;
      Miscellaneous Inspection Equipment; Miscellaneous Secondary Equipment;
      Rotary Shrink Wrapper; Battery Chargers; Miscellaneous Perishable Tooling;
      Lockers; Cafeteria Furniture; etc.

1-    Tennant Model 6080 Walk-Behind Electric Floor Scrubber, S/N Unknown; 1,091
      Hours Indicated

1-    Kard Model TP-30-4 30-Ton Press, S/N TK-1064; (Currently Not In Service)

1-    Denison Model GC10C09C23A68A61A46 10-Ton Press, S/N 6484-A54S05, 7-1/2 hp

1-    Denison 8-Ton Press, S/N Unknown; Estimated 8 Ton Capacity

1-    Denison 6-Ton Press

1-    Ridgid Model 500 Pipe Threader, S/N Unknown

1-    Weldotron Model 7121 7-kW Shrink Tunnel, S/N EL84471; Electric, 14"; (Not
      In Service)

1-    Sioux Model 180C Steam Cleaner, S/N 9907031, (1999); 30,000 Btus

1-    Delta 2,200-psi Pressure Washer, S/N Unknown; with 4.5 hp Honda Model
      GCV135 Gasoline Engine

1-    Clausing Model 1637 Drill Press, S/N 115789; 8" Throat

1-    Lot of Machinery and Equipment Stored in Warehouse, To Include: Drill
      Presses; Disc Sanders; Arbor Presses; Dust Collectors; etc.

1-    Lot of Office Furniture and Business Machines

1-    Genie Model Z25-8 25' Aerial Lift, S/N 188, (2000); 500-Lb. Capacity

1-    Tiocco Model T-3000-FRS Hydraulic Fluid Filter, (2003)

1-    Ingersoll-Rand Model 2545E10VFP 35-CFM Reciprocating Air Compressor, S/N
      0308080102, (2003), 10 hp; with Air Cooled Aftercooler

      MAINTENANCE

1-    Demco Model KE Floor-Type Drill, S/N 43063; 9" Throat, 16" x 16" Worktable

1-    Manufacturer Unknown H-Frame Press, S/N Unknown; 28" Between Posts; with

<PAGE>

      Enerpac Hydraulic Press

1-    Lincoln Model Power Mig 200 200-Amp. Welder, S/N K1766-1 10564
      M1011020568; 200 Amps @ 30% Duty Cycle; with Cart

1-    Milwaukee Model 6175 Cut-Off Saw, S/N 99111774; 16"D Grinding Wheel

1-    Manhattan Model 951230 Floor-Type Drill, S/N 58289, 1/2 hp; 8" Throat,
      14"D Worktable

1-    Lincoln Model Idealarc 250 250-Amp. Welder, S/N AC-307876, (1973); 140
      Amps @ 100% Duty Cycle

1-    Apex 16"D Disc Sander, 3 hp; Model and S/N Unknown;

1-    Lot of Factory and Support Equipment

      QC LAB

1-    Starrett 36"D x 48"L x 8"H Granite Surface Plate

1-    Arun Technologies Model Series 2000 Spectrometer; with Monitor; and
      Printer

1-    Phillips Model PRS-150 X-Ray Machine; with X-Ray Booth; Power Supply;
      Model MGC-23 Controls; and Ikegami Monitor

1-    Gauge Master Model Series 80-89/GMX 22" Optical Comparator, S/N 3772590,
      (1993); with Gage Master GMX 2-Axis Digital Readout

1-    Brown & Sharpe Model MicroXcel UHA Coordinate Measuring Machine, S/N
      1196-3431, (1996); 28" X-, 45" Y-, and 25" Z-Axis Travel, 33" x 53" x 4"
      Granite Worktable; with Renishaw PH9A Probe; PC Controls; and Brown &
      Sharpe Software

1-    Manufacturer Unknown 48"D x 60"L x 8"H Granite Surface Plate

1-    Sheffield Model Cordax 1808 Coordinate Measuring Machine, S/N 249671085;
      27" X-, 25" Y-, and 17" Z-Axis Travel, 30"D x 54"L x 8"H Granite Surface
      Plate; with Renishaw TP1S Probe; Digital Readout; and Smart Terminal
      Software, Version 2

1-    Lot of Miscellaneous QC Lab Equipment, To Include: Edmunds Air Gauges; Pin
      Gauge Sets; Gauge Block Sets; Height Gauges; Laser Mike; Video Camera;
      Furnishings; PC's; Micrometers; Plotter; Blue Print Copier; Plug Gauges;
      etc.

1-    Hewlett Packard Model 7595A Draftmaster I Plotter, S/N 2644A00891

1-    Visi-Trak Model True Trak 2020/M91-6002 Monitor and Analysis System, S/N
      95002

1-    3M Model 500 Microfilm Reader/Printer

<PAGE>

      OFFICE

1-    Lot of Office Furniture and Business Machines, To Include, But Not Limited
      To: Desks; Chairs; File Cabinets; Tables; Televisions; Overhead
      Projectors; Calculators; Typewriters; Teleconferencing Equipment;
      Cabinets; Partitions; Breakroom Furniture; etc.

1-    Lot of Computer and Peripheral Equipment, To Include: Personal Computers;
      File Servers; Monitors; Printers; Facsimile Machines; Photocopiers;
      Network Communications Equipment; etc.

      WAREHOUSE

1-    K.R. Wilson Model DCT-28 28-Ton Trim Press, S/N 2494, (1968);
      (Remanufactured By EPCO In 2000), with Light Curtain

1-    Keystone 30-Ton Trim Press, S/N 3904, (1995); Hydraulic, 4-Post, Upacting,
      24" x 36" Between Posts; with Self-Contained Hydraulic Power Supply (Not
      in Service; Operable)

1-    Keystone 35-Ton Trim Press, S/N 005, (1987); Hydraulic, 4-Post, Upacting,
      24" x 36" Between Posts

1-    Denison Model S065MC281C221C224 6-Ton Trim Press, S/N 15884-A72A59,
      (1960), 5 hp; Hydraulic, Gap Frame, 18" Daylight, 7" Throat, 12" Stroke,
      3.25" Cylinder Bore

1-    Denison Model GC10C09C23A68A61A46 10-Ton Trim Press, S/N 6483-A54S05,
      (1951); Hydraulic, Gap Frame (Currently Not in Service; Operable)

1-    Denison Model 6484 10-Ton Trim Press; Hydraulic, Gap Frame

1-    Denison Model GC10C61D15A68 10-Ton Trim Press, S/N 13825; Hydraulic, Gap
      Frame

2-    Mid-West Tool 6-Station Indexing Machining Centers, S/N 273; Each Station
      with (2) Sugino Drill Heads; and Allen-Bradley Model PanelView 550 PLC
      Controls; (1 Located Off Site)

1-    K.R. Wilson Model DCT-28 28-Ton Trim Press, S/N 2629, (1970); Hydraulic,
      4-Post, 24" x 36" Between Posts; (Remanufactured 2000)

1-    Duracraft Model 45161 16" Single-Spindle Floor-Type Drill, S/N Not
      Available

1-    Lincoln Model DPF1658-2 16" Single-Spindle Floor-Type Drill, S/N 522805,
      (1992)

1-    Clausing Floor-Type Drill; (Tags Painted)

<PAGE>

1-    Bridgeport Vertical Milling Machine, S/N J97046, (1955); 80 to 2,720-rpm
      Spindle Speeds, 9" x 42" Table; with Specially Manufactured Work Fixture

1-    Spin Blast Shot Blast Machine; Spinner Hanger Type, 60" x 48" x 72", 6,428
      Hours Indicated; with Reclaim and Outside Dust Collector; (Currently Not
      in Service; Operable)

1-    Clark Model GCS20MB 4,000-Lb. LP Gas Lift Truck, S/N G138MB-1127-6920KOF,
      (1987); 188" Lift Height, Solid Tire; (Currently Not in Service; Not
      Operable)

1-    Dayton Model 6H011B 1,400-psi Steam Cleaner, S/N C24015;
      2.2-Gallons/Minute, 229,000-Btus/Hour

<PAGE>

                                     ANNEX A

                        UCC FINANCING STATEMENT AMENDMENT