GenRad currently provides manufacturing systems to markets requiring complex electrical test facilities and configuration of electronic modules, using a combination of electrical test equipment and serial diagnostic capabilities. GenRad also provides solutions for the test of electronic control modules for the automotive component supplier, as well as for the test and configuration of complete vehicles on the production line.

Paul Geere, President of GenRad’s Advanced Diagnostic Solutions (ADS) business unit commented "This acquisition will consolidate our mainland European base and allow us to provide better service and global support to our customers. By investing in this business GenRad has demonstrated its continued commitment to the transportation industry. The new product expertise and skills that we gain enable us to broaden our range of solutions to attract new customers".

GenRad’s Chairman and CEO, Jim Lyons stated "By acquiring Altest we have significantly increased the size of our manufacturing test customer base, which enables us to continue to provide leading edge industry solutions".

Altest Background

Altest, headquartered in Willebroek, Belgium near Antwerp, is a division of Fabricom, an international company based in Brussels, Belgium offering a range of technical services for industry and the public sector. One of their fields of expertise includes automation. They are established suppliers to the automotive manufacturing industry, including the build and installation of automotive mechanical assembly lines. Fabricom employs more than 24,000 people worldwide, with a turnover of $2.8 billion. Altest has a wide range of customers including PSA, GM, Volvo truck, Hyundai and Fiat.

GenRad Background

GenRad, Inc. provides electronics OEMs and their customers with the hardware, software and services to increase productivity by optimizing product design, manufacturing and after-market service. GenRad, headquartered in Westford, MA, offers products and services through three business units: Advanced Diagnostic Solutions (ADS), Electronic Manufacturing Solutions (EMS), and GR Software (GRS). GenRad’s web site address is http://www.genrad.com.

GenRad’s most current shareholder information is available by visiting our Website at http://www.genrad.com or calling our Fax on Demand Service at (800) 469-1261.

Statements made in this press release which are not historical, including statements regarding future performance, product capabilities and markets are forward looking statements and as such are subject to a number of risks. Factors that may cause results to differ materially from those projected are discussed in GenRad’s 1998 Annual Report on Form 10-K for the fiscal year ending January 2, 1999 and form 10-Q for the quarter ended October 2, 1999 under the section "Management’s Discussion and Analysis of Financial Conditions and Results of Operations – Factors That May Affect Future Results."