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<SEC-DOCUMENT>0001157523-08-007320.txt : 20080909
<SEC-HEADER>0001157523-08-007320.hdr.sgml : 20080909
<ACCEPTANCE-DATETIME>20080909134252
ACCESSION NUMBER:		0001157523-08-007320
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080909
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080909
DATE AS OF CHANGE:		20080909

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SYPRIS SOLUTIONS INC
		CENTRAL INDEX KEY:			0000864240
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				611321992
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24020
		FILM NUMBER:		081062604

	BUSINESS ADDRESS:	
		STREET 1:		101 BULLITT LN
		STREET 2:		STE 450
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40222
		BUSINESS PHONE:		5023292000

	MAIL ADDRESS:	
		STREET 1:		101 BULLITT LN
		STREET 2:		STE 450
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GROUP TECHNOLOGIES CORP
		DATE OF NAME CHANGE:	19940314
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5774096.htm
<DESCRIPTION>SYPRIS SOLUTIONS, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 12pt"></font><font style="font-size: 12pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 10pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 16pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Date
      of Report (Date of earliest event reported): September 9, 2008</b></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>Sypris
      Solutions, Inc.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman"><b>(Exact
      name of registrant as specified in its charter)</b></font><br><br>
    </p>
    <div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>0-24020</b>
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>61-1321992</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(State or Other Jurisdiction</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>of Incorporation)</b>
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>File Number)</b>
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(I.R.S. Employer</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>101 Bullitt Lane, Suite 450</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Louisville, Kentucky</b>
          </p>
        </td>
        <td style="width: 34%">
          &#160;
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>40222</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Address of Principal </b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Executive Offices)</b>
          </p>
        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Zip Code)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center; white-space: nowrap">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>Registrant&#8217;s
      telephone number, including area code: (502) 329-2000</b></font><b> </b>
    </p>
    <hr style="width: 100%; text-align: center; height: 1.5 pt; color: #000000">
    <hr style="width: 100%; text-align: center; height: 1.5 pt; color: #D3D3D3">


    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</b></font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS"><b>&#8414;</b></font><b>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></b>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS"><b>&#8414;</b></font><b>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></b>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS"><b>&#8414;</b></font><b>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></b>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS"><b>&#8414;</b></font><b>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></b>
    </p>
    <div style="width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Section 5 &#8211; Corporate Governance and
      Management</b></font>
    </p>
    <div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 12%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 5.02(c)</b>
          </p>
        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Departure of Directors or Certain Officers; Election of
            Directors; Appointment of Certain Officers; Compensatory
            Arrangements of Certain Officers.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify; text-indent: 30.0px">
      On September 9, 2008, Sypris Solutions, Inc. (the &#8220;Company&#8221;) announced
      that the Board of Directors authorized the appointment of Brian A.
      Lutes, age 44, as Vice President and Chief Financial Officer of the
      Company. Effective as of September 15, 2008, Mr. Lutes will assume
      responsibility for the Company&#8217;s finance and accounting operations,
      treasury and banking relationships, communications with the Board of
      Directors regarding financial matters, investor and securities analyst
      relations, capital markets strategy formulation and implementation,
      information systems, and the overall control environment for the
      Company. If Mr. Lutes&#8217; employment is terminated without cause during the
      first year of his employment, he will continue to receive his base
      salary for the balance of that year, until otherwise employed.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      Since August of 2008, Mr. Lutes served as Chairman for MAG Americas and
      Vice Chairman, Finance and Administration for MAG Global, a subsidiary
      of MAG Industrial Automation Systems, a group of leading machine tool
      and systems companies serving aerospace, automotive, construction, power
      generation and other durable goods industries.&#160;&#160;From 2005 to 2007, he
      served as Chief Financial Officer and Vice President, Finance and
      Administration for the Wornick Company, a provider of shelf-stable,
      ready-to-eat meals to military and consumer branded food
      companies.&#160;&#160;Until 2004, Mr. Lutes served as Senior Vice President for
      Fifth Third Bancorp.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      Mr. Lutes previously served with the General Electric Company for
      seventeen years until 2002 in a number of increasingly responsible
      executive positions for various divisions of GE, including aircraft
      engines, appliances, locomotives, commercial lending and capital
      markets, before culminating with his assignment as Chief Financial
      Officer of Global Operations for GE Medical Systems.&#160;&#160;Mr. Lutes&#8217;
      international experience included assignments in the Netherlands and
      India.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      Anthony C. Allen, 49, Vice President, acting Chief Financial Officer,
      Treasurer and Assistant Secretary of the Company, will resign from his
      responsibilities as acting Chief Financial Officer on September 15,
      2008, and will continue to serve the Company as Vice President,
      Treasurer and Assistant Secretary thereafter.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      A copy of the press release announcing Mr. Lutes&#8217; appointment is
      attached as Exhibit 99.1 to this Form 8-K and is incorporated by
      reference herein.
    </p>
    <div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 12%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 9.01</b>
          </p>
        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap">
      (c)&#160;&#160;Exhibits.
    </p>
    <div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description of Exhibit</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 80%">

        </td>
      </tr>
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 10.0px; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;&#160;&#160;99
          </p>
        </td>
        <td style="width: 80%; text-align: left; padding-left: 30.0px" valign="top">
          Press Release issued September 9, 2008.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized. </font>
    </p>
    <p style="text-indent: 30.0px">

    </p>
    <div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 6%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated:
          </p>
        </td>
        <td style="width: 44%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            September 9, 2008
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Sypris Solutions, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; width: 6%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 44%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 5%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="width: 45%; text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ John R. McGeeney
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            John R. McGeeney
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            General Counsel and Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <hr style="width: 100%; text-align: center; height: 1.5 pt; color: #000000">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>INDEX TO
      EXHIBITS</b></font>
    </p>
    <div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit<br><u>Number</u></b>
          </p>
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td style="width: 80%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="top">
          99
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release issued September 9, 2008.
          </p>
        </td>
      </tr>
    </table>
    </div>
  </body>
</html>
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     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a5774096-ex99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Sypris
      Appoints Brian A. Lutes Chief Financial Officer</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Former
      CFO of Global Operations for GE Medical Systems</b></font>
    </p>
    <p>
      LOUISVILLE, Ky.--(BUSINESS WIRE)--Sypris Solutions, Inc.
      (Nasdaq/NM:SYPR) announced today that Brian A. Lutes has been appointed
      to the position of Vice President and Chief Financial Officer, effective
      September 15, 2008. Mr. Lutes will be located at the Company&#8217;s
      headquarters in Louisville, Kentucky and will report to Jeffrey T. Gill,
      the President and Chief Executive Officer of Sypris Solutions.
    </p>
    <p>
      Mr. Lutes previously served with the General Electric Company for
      seventeen years in a number of increasingly responsible executive
      positions for various divisions of GE, including aircraft engines,
      appliances, locomotives, commercial lending and capital markets, before
      culminating with his assignment as Chief Financial Officer of Global
      Operations for GE Medical Systems. Mr. Lutes&#8217; international experience
      included assignments in the Netherlands and India.
    </p>
    <p>
      After leaving GE in 2002, Mr. Lutes served in senior-level executive
      positions with Fifth Third Bancorp, the Wornick Company and most
      recently, as Vice Chairman of Finance and Administration for MAG
      Industrial Automation Systems, a $1.5 billion manufacturer of machine
      tools and systems serving the aerospace, automotive, construction, power
      generation and other durable goods industries.
    </p>
    <p>
      Mr. Lutes holds Bachelor and Masters Degrees in Engineering from the
      University of Louisville&#8217;s J.B. Speed School of Engineering, an MBA from
      the University of Connecticut&#8217;s Executive MBA program and is a graduate
      of the GE&#8217;s Manufacturing Leadership Curriculum and its Corporate Audit
      Staff.
    </p>
    <p>
      Commenting on the announcement, Jeffrey T. Gill, President and Chief
      Executive Officer of Sypris Solutions, said, &#8220;We are very pleased to
      announce the addition of Brian to our executive team. His extensive
      experience, industry knowledge and track record of success will be
      invaluable in overseeing the continued development of Sypris Solutions
      into a larger, increasingly profitable company.&#8221;
    </p>
    <p>
      Sypris Solutions is a diversified provider of technology-based
      outsourced services and specialty products. The Company performs a wide
      range of manufacturing and technical services, typically under
      multi-year, sole-source contracts with major corporations and government
      agencies in the markets for aerospace and defense electronics, truck
      components and assemblies, and for users of test and measurement
      equipment. For more information about Sypris Solutions, visit its Web
      site at <u>www.sypris.com</u>.
    </p>
    <p>
      <i><b>Each &#8220;forward-looking statement&#8221; herein is subject to serious
      risks and should not be relied upon, as detailed in our most recent Form
      10-K and Form 10-Q and subsequent SEC filings. </b>Briefly, we currently
      believe that such risks also include: our ability to liquidate our
      equity interests in Dana Holding Corporation (NYSE:DAN) at satisfactory
      valuation levels;</i><sup>1</sup><i> potential impairments,
      non-recoverability or write-offs of goodwill, assets or deferred costs,
      including deferred tax assets in the U.S.; compliance with covenants in,
      or acceleration of, our loan and other debt agreements; costs and
      inefficiencies of restructuring our manufacturing capacity; breakdowns,
      relocations or major repairs of machinery and equipment; our inability
      to successfully launch new or next generation programs; the cost,
      efficiency and yield of our operations and capital investments,
      including working capital, production schedules, cycle times, scrap
      rates, injuries, wages, overtime costs, freight or expediting costs;
      cost and availability of raw materials such as steel, component parts,
      natural gas or utilities; volatility of our customers&#8217; forecasts,
      financial conditions, market shares, product requirements or scheduling
      demands; cyclical or other downturns; adverse impacts of new
      technologies or other competitive pressures which increase our costs or
      erode our margins; failure to adequately insure or to identify
      environmental or other insurable risks; inventory valuation risks
      including obsolescence, shrinkage, theft, overstocking or underbilling;
      changes in government or other customer programs; reliance on major
      customers or suppliers, especially in the automotive or aerospace and
      defense electronics sectors; revised contract prices or estimates of
      major contract costs; dependence on, recruitment or retention of key
      employees; union negotiations; pension valuation, health care or other
      benefit costs; labor relations; strikes; risks of foreign operations;
      currency exchange rates; the costs and supply of debt, equity capital,
      or insurance; changes in licenses, security clearances, or other legal
      rights to operate, manage our work force or import and export as needed;
      weaknesses in internal controls; the costs of compliance with our
      auditing, regulatory or contractual obligations; regulatory actions or
      sanctions; disputes or litigation, involving customer, supplier,
      creditor, stockholder, product liability, asbestos-related or
      environmental claims; war, terrorism or political uncertainty;
      unanticipated or uninsured disasters, losses or business risks;
      inaccurate data about markets, customers or business conditions; or
      unknown risks and uncertainties.</i>
    </p>
    <p>
      <sup>1</sup> <i>In 2007, we estimated and recorded our $89.9 million
      claim against Dana at approximately 85% of its face value or $76.4
      million, which represented our right to receive certain distributions of
      cash and common stock in Dana Holding Corporation. To date, we have
      received distributions of approximately $6.3 million in cash and 3.2
      million shares of DAN common stock. Due to market conditions and certain
      other factors, we believe that the recent trading prices of DAN common
      stock have not reflected its longer-term value.</i> <i>However, if we
      sell these shares at current prices or such prices otherwise reflect a
      decline in value which is deemed to be &#8220;other than temporary,&#8221; our
      business, results of operations, covenants in our loan and other debt
      agreements, cash flows and financial condition could be materially
      adversely impacted.</i>
    </p>
    <p>
      CONTACT:<br><b>Sypris Solutions, Inc.</b><br><b>Anthony C. Allen</b><br><b>Vice
      President, Treasurer and Assistant Secretary</b><br><b>502-329-2000</b>
    </p>
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