PRESS RELEASE

Of interest to editors and journalists covering: Business/Finance, Auto,
Industrial/Manufacturing, Machine/Foundry, AL Business

Citation Corp. Completes Voluntary Restructuring

BIRMINGHAM, AL - Jan. 6, 2004 /Send2Press Newswire/ -- Citation
Corporation (Citation, www.citation.net) announced today that it reached
an agreement with its lenders to restructure the company's debt and
equity.  Affiliates of Kelso & Company, the company's primary shareholders
have invested an additional $20 million.  The new arrangement provides
Citation with additional liquidity by restructuring the current debt
service arrangement.  In addition, Citation reduced its indebtedness
obligations by approximately $116 million as a result of these
transactions.

Citation CEO, Ed Buker, expressed his thanks for the cooperation and
support of the company's shareholders, lenders, suppliers, customers, and
employees over the past year.  He stated, "I am confident that these new
arrangements will position Citation for future growth and improved
profitability as both our core business as well as the nation's overall
economy continue to improve."

About Citation Corporation

Citation Corporation is a leader in the design, development and
manufacture of cast, forged and machined components for the capital and
durable goods industries, including automotive and industrial markets.
Citation has approximately five thousand employees serving seventeen
divisions in eight states.  The company produces aluminum, steel and iron
castings; steel forgings; and machined and assembled components for
automobiles and light, medium and heavy trucks; off-highway construction
equipment; agricultural equipment; pumps; compressors; industrial valves;
machine tools; aircraft; oil tools and other durable goods.  Annual sales
exceed $650 million.

 
MEDIA CONTACT:
	G. Thomas Surtees, 
	Vice President, Human Resources 
	of Citation Corporation
	+1-205-871-5731 
	toms@citation.net  
 
 
 
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[ source of news = Citation Corporation]
ref: http://www.send2press.com/2archive/2004/pr_04_0106-citation.txt 
	 http://www.send2press.com/2archivePDF/pr_04_0106-citation.pdf
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*IMPORTANT NOTE TO MEDIA: 
	to reach the organization releasing this news, please contact:
	toms@citation.net


	If used for publication, please send specimen copy.
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S2P-NS/0c/ AL / BIRMINGHAM, Alabama / Copr. (c) 2004 Send2Press. 


This release was issued on behalf of the above organization by
Send2Press(tm), a unit of Neotrope(R). http://www.Send2Press.com .