FOR IMMEDIATE RELEASE

Business Inquiries: KPS      212.338.5100

Media Relations: Mark Semer / Joe Kuo     212.521.4800

New York, NY (November 14, 2006) -- KPS Special Situations Funds (“KPS”) announced today that it has entered into a definitive agreement to sell its portfolio company, AmeriCast Technologies, Inc. (“AmeriCast”), to a fund managed by Castle Harlan, Inc. (“Castle Harlan”). The transaction is valued at $110 million.

The transaction represents the sixth sale of a portfolio company by KPS this year, and the tenth liquidity event involving an investment of KPS Special Situations Fund II.

Michael Psaros, a Managing Principal of KPS, stated, “The success of AmeriCast is another validation of our investment strategy. We take pride in sponsoring the transformation of AmeriCast into the leader of its industry. We congratulate Tom Armstrong, AmeriCast’s Chief Executive Officer, the company’s management team and all of its employees for their collective accomplishments.”

Mr. Armstrong added, “We enjoyed the collaboration with KPS that resulted in significantly improving and growing AmeriCast. KPS’ emphasis on creating value through manufacturing excellence made it the right owner at the right time for our company.”

Mr. Psaros concluded, “The sale of AmeriCast to a premier growth investor like Castle Harlan is a logical progression for AmeriCast. We expect that AmeriCast will have much success under Castle Harlan’s ownership.”

CIBC World Markets acted as the financial advisor to AmeriCast.

The transaction is expected to be completed in the fourth quarter of 2006.

About AmeriCast Technologies, Inc.

AmeriCast Technologies, Inc. (www.americasttech.com) is a world leader in the design, manufacture and supply of highly-engineered steel and iron sand castings, machined components and assemblies. AmeriCast casts large and difficult-to-manufacture parts and is a critical supplier to Fortune 50 manufacturers in the locomotive, mass transit, mining, construction and heavy-duty truck industries. The Company operates five business units, including: Atchison Steel Castings based in Atchison, Kansas and St. Joseph, Missouri; Amite Foundry based outside of New Orleans, Louisiana; Prospect Foundry based in Minneapolis, Minnesota; London Precision Machining based in London, Ontario; and ACC Global Services.

About KPS Special Situations Funds

KPS Special Situations Funds are a family of private equity funds with over $600 million of committed capital focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly-leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment, and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. The KPS investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com.