Modine Manufacturing Company jointly announced on January 25 with Plaintiffs counsel, Aaron Freiwald of Layser & Freiwald, PC that Modine and Plaintiffs have reached a settlement in principle in connection with litigation against Modine, alleging environmental contamination in McCullom Lake Village, McHenry County, Illinois, where Modine operates a manufacturing facility.

Under an agreement reached with Plaintiffs, 22 personal injury cases filed in the Philadelphia Court of Common Pleas and an alleged class action lawsuit that was filed in federal court in the Eastern District of Pennsylvania, were settled. Litigation against other named companies in the lawsuits continues.

In addition to a payment to the various plaintiffs of a fixed amount in the state court cases, representative plaintiffs, plaintiffs counsel, Aaron Freiwald, and Modine will be proposing to the federal court a class settlement that will involve specified funds for medical monitoring and property claims for appropriate individuals who lived or owned property in the McCullom Lake Village area. Specific terms of the settlement were not disclosed and Modine has not admitted liability in any way by the settlement. Settlement is contingent on execution of a mutually agreeable settlement agreement and approval by the various courts in each case. Plaintiffs requesting additional information should contact Layser & Freiwald, PC at 215.875.8000.

Commenting on the settlement, the plaintiffs attorney, Aaron Freiwald, said, Modine, which was not a primary target in this litigation, has defended itself both vigorously and responsibly. We have identified no substantiated scientific link between Modines McHenry facility and the groundwater contamination in McCullom Lake Village, therefore, we believe it is in the best interests of the plaintiffs to settle this matter and pursue no further litigation against Modine.

We further commend Modine and its representatives for the proactive manner in which the company has approached and settled this matter. Freiwald added: We are especially gratified that, as a result of the settlement with Modine, we will soon be able to offer medical monitoring to certain current and former residents of the Village.

Modine vice president Americas, James R. Rulseh, commented, This agreement makes sense for our company because it is an opportunity to end a long and difficult litigation that has spanned nearly two years and that could continue to stretch on for many more years.

Rulseh continued, Modine takes its environmental responsibilities very seriously. We consider the settlement fair and reasonable to all concerned and in keeping with our long-standing commitment to conduct business in an environmentally responsible manner and according to the highest standards of business conduct. Although we are convinced that the scientific evidence indicates that we are in no way responsible for any of the illnesses or damages alleged to have resulted from the asserted environmental contamination, we believe it is both appropriate and in the best interest of our shareholders, employees and global business operations to settle this matter at this time.

Modine has operated its manufacturing plant in McHenry since it opened in 1961. The 325-employee facility produces cooling modules, condensers and oil coolers and, like all Modine plants, has received ISO 14001 certification for environmental management systems. The Modine plant also has won company awards for outstanding performance, energy conservation and safety.

About Modine

Modine specializes in thermal management systems and components, bringing highly engineered heating and cooling technology and solutions to diversified global markets. Modine products are used in light, medium and heavy-duty vehicles, heating, ventilation and air conditioning equipment, industrial equipment, refrigeration systems, fuel cells, and electronics. For more information about Modine, visit www.modine.com.