Clarion Technologies Reports Third Quarter 2004 Results GRAND RAPIDS, Mich., Nov. 12 /PRNewswire-FirstCall/ -- Clarion Technologies, Inc. (OTC:CLAR.OB) (BULLETIN BOARD: CLAR.OB) today announced financial results for the quarterly period ended September 25, 2004. Clarion's 2004 sales for the third quarter were $30.6 million versus $26.1 million in the third quarter of 2003. Sales for the first nine months of 2004 were $88.3 million versus $73.8 million for the same period of 2003. The 20% increase in revenue was driven primarily by sales of new products to existing customers. Also, $6.7 million of sales in the first nine months of 2004 was generated from tooling purchased by customers for new programs versus $1.1 million in the same period of 2003. Net income for the first nine months of 2004 was $558,000 versus $1.78 million for the same period of 2003. The 2004 results include an asset impairment charge (non-cash) of $887,000 required to adjust the net carrying value of Clarion's manufacturing facilities to its estimated fair value. Net loss attributable to the common shareholder for the first nine months of 2004 was ($6.64) million versus ($4.29) million for the same period of 2003. The increase in net loss attributable to the common shareholder was primarily driven by the increase in accrued interest and dividends. Clarion Technologies' President, Bill Beckman, commented, "Clarion continues to grow revenues with our key customers. With the opening of a new facility in Ames, Iowa we will have some additional costs associated with launching over $15 million in new business. A successful operational start-up and execution in Iowa are expected to provide additional customer opportunities in the near future." Clarion Technologies, Inc. operates four manufacturing facilities in Michigan, one in South Carolina, and two in Iowa with approximately 170 injection molding machines ranging in size from 55 to 1,500 tons of clamping force. The Company's headquarters are located in Grand Rapids, Michigan. Further information about Clarion Technologies can be obtained on the web at http://www.clariontechnologies.com/ or by contacting Mary Asadorian at (616) 233-6680. With the exception of historical factual information, the statements made in this press release include forward-looking statements. These statements are based upon current expectations and are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Such forward-looking statements involve certain known and unknown assumptions, risks and uncertainties that could cause actual results to differ materially from those included in or contemplated by the statements. These assumptions, risks and uncertainties include, but are not limited to, those discussed or indicated in the Company's Annual Report on Form 10-K for the year ended December 27, 2003, and in all documents filed by the Company with the Securities and Exchange Commission. The Company disclaims any obligation to update any forward- looking statements as a result of developments occurring after the date of this press release. DATASOURCE: Clarion Technologies, Inc. CONTACT: Mary Asadorian of Clarion Technologies, Inc., +1-616-233-6680 Web site: http://www.clariontechnologies.com/

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