Document:

NEWS RELEASE

                   1200 Wall Street West, Lyndhurst, NJ 07071
                       (201) 896-8400 o FAX (201) 438-5680
                              www.curtisswright.com

CONTACT: Gary Benschip                                   FOR IMMEDIATE RELEASE
         (201) 896-8520
         gbenschip@cwcorp.curtisswright.com

Curtiss-Wright Announces a Recapitalization Plan to Permit Tax-Free Distribution
             of Unitrin Equity Interest; Plans Special Cash Dividend

Lyndhurst,  New Jersey - November 6, 2000 -  Curtiss-Wright  Corporation  (NYSE:
CW),  today  announced  a  plan  pursuant  to  which   Curtiss-Wright   will  be
recapitalized   to  facilitate  a  tax-free   distribution  by  Unitrin  of  its
approximately  44% equity  position in  Curtiss-Wright.  The Company's  Board of
Directors has approved an agreement with Unitrin, Inc. (NASDAQ:  UNIT) providing
for the recapitalization and distribution.  In addition,  Curtiss-Wright's Board
of Directors has approved a special cash  dividend of $0.25 cents per share,  to
be  payable  to  all  Curtiss-Wright   shareholders,   other  than  Unitrin,  in
conjunction  with the  contemplated  distribution.  The distribution and special
dividend are expected to be completed in the first half of 2001,  subject to the
receipt of a letter ruling from the Internal  Revenue Service as to the tax-free
status  of the  distribution  and  approval  of the  recapitalization  plan by a
majority of  Curtiss-Wright's  stockholders  and a majority of  Curtiss-Wright's
non-Unitrin stockholders voting on the proposal.

Unitrin owns approximately 4.4 million or 44% of the outstanding  Curtiss-Wright
shares.  Under  the  recapitalization  plan,  and in order to meet  certain  tax
requirements,  these shares will be exchanged for an equivalent number of shares
of a new Class B Common Stock of Curtiss-Wright  which will be entitled to elect
80 percent of  Curtiss-Wright's  Board of Directors.  The Class B shares will be
immediately   distributed  by  Unitrin  to  its   stockholders   in  a  tax-free
distribution.  The holders of the remaining outstanding shares of Curtiss-Wright
will be entitled to elect up to 20% of the Board of Directors of Curtiss-Wright.
The existing  Curtiss-Wright  Directors  will  continue to serve as the Board of
Directors after the spin-off.  Other than the right to elect Directors,  the two
classes of stock will vote as a class  (except as  required  by law) and will be
equal in all other  respects.  The new Class B Common  Stock is  expected  to be
listed on the New York Stock Exchange.

In  connection  with  its  approval  of  the   recapitalization   and  spin-off,
Curtiss-Wright  also  announced  adoption by its  Directors  of a  stockholders'
rights plan. The rights plan will enhance the ability of Curtiss-Wright's  Board
to protect the interests of stockholders in the event of an unsolicited proposal
to acquire a  significant  interest in  Curtiss-Wright  at a price that does not
reflect  its fair  value.  Adoption  of the rights plan is not a response to any
known effort to acquire the Company.
<PAGE>
Also in connection with the recapitalization,  Curtiss-Wright will seek approval
of its  shareholders  of  certain  amendments  to its  Restated  Certificate  of
Incorporation providing for, among other things, the classification of its Board
of  Directors  into  three  classes  serving  staggered  three-year  terms,  the
elimination  of the  stockholders'  ability to act by written  consent or call a
special  meeting and the  requirement of a two-thirds  vote of  shareholders  to
amend certain provisions of the Restated Certificate of Incorporation.  Approval
of these amendments will also be a condition to the recapitalization.

The  recapitalization  and spin-off  transactions have been approved by both the
Unitrin and Curtiss-Wright Boards of Directors. Completion of the transaction is
contingent  upon,  among other  things,  approval of the tax-free  status of the
distribution by the Internal Revenue Service;  approval of the  recapitalization
plan by holders  of  Curtiss-Wright  shares  other  than  Unitrin  voting on the
proposal; and approval by all shareholders of Curtiss-Wright (including Unitrin)
of  the  proposed  amendments  to  Curtiss-Wright's   Restated   Certificate  of
Incorporation.

Martin Benante,  Curtiss-Wright's  Chairman and Chief Executive Officer, stated,
"We are  extremely  pleased  to make this  announcement.  The  recapitalization,
distribution  and  special  dividend  will  add  value  for  all  Curtiss-Wright
shareholders.  Furthermore,  these actions  provide for a wider  distribution of
Unitrin's  holding  that  should  improve  the  liquidity  of our  stock  to the
long-term  benefit of  Curtiss-Wright  and our  shareholders.  We have been very
appreciative  of the  support  received  from  Unitrin  during  their  long-term
relationship as a major investor in Curtiss-Wright.  We support their actions to
distribute their holdings in Curtiss-Wright to their own shareholders."

--------------------------------------------------------------------------------

Curtiss-Wright  Corporation  is a  diversified  provider  of  highly  engineered
products and services to the Motion  Control,  Flow Control and Metal  Treatment
industries.  The firm employs  approximately  2,280 people.  More information on
Curtiss-Wright can be found on the Internet at www.curtisswright.com.

Forward-looking  statements in this release are made pursuant to the Safe Harbor
provisions  of the  Private  Securities  Litigation  Reform  Act of  1995.  Such
forward-looking  statements are subject to certain risks and uncertainties  that
could cause actual results to differ materially from those expressed or implied.
Readers  are  cautioned  not to place undue  reliance  on these  forward-looking
statements, which speak only as of the date hereof. Such risks and uncertainties
include,  but are not limited to: a reduction in anticipated orders; an economic
downturn;  changes in the competitive  marketplace and/or customer requirements;
an inability to perform customer contracts at anticipated cost levels; and other
factors that generally affect the business of aerospace companies.  Please refer
to the Company's  current SEC filings under the  Securities  and Exchange Act of
1934, as amended, for further information.
                                       ###FIFTH AMENDMENT TO THE SECOND AMENDED
                             AND RESTATED CONTINGENT
               MULTICURRENCY NOTE PURCHASE COMMITMENT AGREEMENT
               ------------------------------------------------

      THIS AMENDMENT (this "Amendment"), dated as of August 15, 2000, is made to
the  Second  Amended  and  Restated   Contingent   Multicurrency  Note  Purchase
Commitment  Agreement,  dated as of January 15, 1998 (as heretofore or hereafter
amended,  modified or supplemented from time to time, the "Agreement"),  between
STORAGE TECHNOLOGY CORPORATION  ("Borrower") and BANK OF AMERICA, N.A. (formerly
Bank of America National Trust and Savings  Association)  ("BofA").  Capitalized
terms used but not otherwise  defined herein shall have the meanings assigned to
such terms by the Agreement.

      WHEREAS, Borrower and BofA desire to amend and supplement the Agreement as
hereinafter set forth.

      NOW, THEREFORE, in consideration of the premises and the mutual agreements
herein contained, the parties hereto agree as follows:

                                    ARTICLE I

                             AMENDMENTS TO AGREEMENT

      Section 1.1  Amendment to  Definition  of  "Scheduled  Termination  Date".
Section  1.08(a) of the  Agreement  is hereby  amended  to change the  Scheduled
Termination Date set forth therein to January 15, 2002.

      Section   1.2   Amendment   to   Section    6.01(h)(ii)(A)(II).    Section
6.01(h)(ii)(A)(II)  of the  Agreement is hereby  amended and restated to read in
its entirety as follows:

            "(II)  as of  the  last  day  of the  immediately  preceding  Fiscal
      Quarter, for which a Compliance Certificate has been delivered pursuant to
      Section  6.01(g)(vii),  the  sum of the  Available  Cash  Amount  and  the
      Available  Revolver  Amount,  in each  case,  as shown in such  Compliance
      Certificate, is greater than $200,000,000, or."

      Section 1.3 Amendment to Section 6.01(h)(ii)(B). Section 6.01(h)(ii)(B) of
the Agreement is hereby amended and restated to read in its entirety as follows:

            "(B) "Available Cash Amount" means,  with respect to the last day of
      any Fiscal Quarter,  the U.S. Dollar equivalent  (determined in
<PAGE>

accordance with GAAP) of all unrestricted  cash and unrestricted Cash Equivalent
      Investments owned by the Borrower and its  Subsidiaries,  all as set forth
      in the  Compliance  Certificate  as of such last day  which was  delivered
      pursuant to Section  6.01(g)(vii).  It is understood and agreed that, with
      respect to this Section 6.01(h)(ii)(B),  the "Available Cash Amount" shall
      include,  without  duplication (i) any unrestricted cash which is received
      by the Borrower in respect of the Purchase Price for any outstanding  Note
      (provided,  however, that under no circumstances shall the "Available Cash
      Amount" include any cash or Cash Equivalent Investments deposited into the
      Cash Collateral Account), and (ii) any cash or Cash Equivalent Investments
      for which the only restriction on such cash or Cash Equivalent Investments
      is that they are subject to a lien of the  Collateral  Agent and the other
      Secured  Parties as proceeds of the  Collateral (as used in clause (II) of
      this Section  6.01(h)(ii)(B),  "Collateral  Agent," "Secured  Parties" and
      "Collateral"  each have the  meanings  assigned  to such terms in the Bank
      Credit Agreement and the Bank Revolver)."

      Section 1.4  Amendment  to Schedule  II.  Schedule II to the  Agreement is
hereby  amended and  restated in its  entirety to read as set forth on Exhibit A
attached hereto.

                                   ARTICLE II
                         REPRESENTATIONS AND WARRANTIES

      Section 2.1 Representations and Warranties. Borrower hereby represents
and warrants to BofA that:

            (a)   Representations   and  Warranties.   The  representations  and
      warranties of Borrower  contained in the Agreement are true and correct on
      and as of the  date of this  Amendment  as  though  made on and as of such
      date, and

            (b) No  Termination  Event.  Both before and after giving  effect to
      this Amendment,  no event shall exist that constitutes a Termination Event
      or an Unmatured Termination Event.

                                   ARTICLE III
                                  MISCELLANEOUS

      Section 3.1 Agreement Document Pursuant to Agreement. This Amendment is an
Agreement  Document  executed  pursuant to the Agreement
<PAGE>

and shall be construed, administered  and applied in accordance  with all of the
terms and provisions of the Agreement.

      Section 3.2 Successors,  Transferees and Assigns.  This Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors, transferees and assigns.

      Section 3.3 Execution in  Counterparts.  This Amendment may be executed by
the parties hereto in several counterparts,  each of which shall be deemed to be
an original and all of which shall be taken together as one agreement.

      Section 3.4 Governing Law. THIS AMENDMENT  SHALL BE A CONTRACT MADE UNDER,
GOVERNED BY AND CONSTRUED IN  ACCORDANCE  WITH THE INTERNAL LAWS OF THE STATE OF
CALIFORNIA WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICTS OF LAWS.

      Section 3.5  Reaffirmation  of Agreement.  As amended and  supplemented by
this  Amendment,  the  Agreement  remains in full force and effect and is hereby
reaffirmed,  ratified  and  confirmed in all  respects.  From and after the date
hereof, all references to the Agreement in any agreement, instrument or document
shall be references to the Agreement as amended and supplemented hereby.

      Section 3.6 Headings.  The various captions in this Amendment are provided
solely  for  convenience  of  reference  and shall not  affect  the  meaning  or
interpretation of any provision of this Amendment.

      Section 3.7 Complete  Agreement.  The Agreement  (including this Amendment
and the Exhibits and  Schedules to the  Agreement  and this  Amendment)  and the
other Agreement  Documents contain the entire  understanding of the parties with
respect to the transactions  contemplated  hereby and thereby and supersedes all
prior arrangements or understandings with respect thereto.

      Section  3.8  Severability.  Whenever  possible,  each  provision  of this
Amendment  will be  interpreted  in such a manner as to be  effective  and valid
under  applicable  law,  but if any  provision  of this  Amendment is held to be
prohibited  by  or  invalid  under   applicable  law,  such  provision  will  be
ineffective  only to the  extent  of such  prohibition  or  invalidity,  without
invalidating  the  remainder of this  Amendment,  except to the extent that such
prohibition  or invalidity  would  constitute a material  change in the terms of
this Amendment taken as a whole.

<PAGE>

      IN WITNESS  WHEREOF,  the parties  hereto have caused this Amendment to be
executed by their  respective  officers  thereunto duly authorized as of the day
and year first above written.

                         STORAGE TECHNOLOGY CORPORATION

                  By: _______/s/_______________________________
                                      Name:
                              Title:

                        BANK OF AMERICA, N.A.
                       (formerly Bank of America National
                         Trust and Savings Association)

                  By: _______/s/_______________________________
                                      Name:
                              Title:

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