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To: Dale Baker who wrote (30844)	8/20/2002 7:52:34 AM
From: alvik	Respond to of 118717

genesee and wyoming continue to expand their market MEMPHIS, Tenn., Aug 20, 2002 /PRNewswire-FirstCall via COMTEX/ -- Mueller Industries, Inc. (MLI) announced today that it entered into an Agreement on August 19, 2002 to sell Utah Railway Company to Genesee & Wyoming, Inc. The purchase price is $54,000,000, subject to certain working capital adjustments. The Company will recognize a gain on the sale of approximately $30 million after tax, or 80 cents per share, in the fiscal quarter ended September 28, 2002. Closing is conditioned upon, among other things, approval of the Surface Transportation Board (STB). The Company anticipates STB approval on an expedited basis. Harvey L. Karp, Chairman of Mueller, stated, that "the sale of Utah Railway Company concludes Mueller's plan to dispose of non-core business assets. The transaction will increase Mueller's cash position by approximately $50 million." Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing and competitive and technological factors, among others, as set forth in the Company's SEC filings. Mueller Industries, Inc. is a leading manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings; and fabricated tubular products. Mueller's operations are located throughout the United States and in Canada, Mexico, France, and Great Britain.