Ferrofluidics Changes Name to Ferrotec

Nashua, NH, July 16, 2001

Ferrofluidics Corporation has changed its name to Ferrotec (USA) Corporation today. Ferrofluidics merged with Ferrotec in 2000 and the change in name to Ferrotec reflects the worldwide integration of the two companies. In line with the name change, the company's web site has moved to www.ferrotec.com.

The merger has enabled the company to offer an increased range of capabilities including new product ranges and manufacturing resources. Worldwide, the company now has over 1800 employees and over 1 million square feet of manufacturing space spread over 3 continents. This strong global presence enables Ferrotec to offer truly worldwide sales, service and technical support.

Ferrotec (USA) will continue to focus on its core Ferrofluidic^® products. There are ferrofluid and feedthrough R&D and production teams in both Nashua, NH and Japan. These teams work closely together to ensure that Ferrotec will continue to offer the most technically advanced ferrofluid and ferrofluid-based products in the world. Ferrotec (USA) in Nashua is now the global center of excellence for design and engineering.

The additional products manufactured in Asia, and the manufacturing resources at the company's China plants enable Ferrotec (USA) to also offer additional products. These include thermoelectric modules (small solid state heat pumps) and low cost, high quality contract manufacturing capabilities.

Ferrotec's complete product range now includes:

• Ferrofluids for a variety of applications including audio speakers, domain detection, educational and other applications
• Standard and application-specific designed Ferrofluidic^® rotary vacuum feedthroughs
• Ferrofluidic^® specialty rotary seals
• Ferrofluidic^® motorized spindles
• Ferrofluidic^® sealing subsystems
• Ferrofluidic^® inertia dampers
• Electron beam evaporators, controllers and power supplies
• Thermoelectric modules and subassemblies
• High quality contract manufacturing

Other Inquiries:

Barry Moskowitz
Marketing Director
Ferrotec (USA) Corporation
40 Simon St
Nashua, NH 03060-3075
Tel: +1 603 883-9800
Fax: +1 603 883-2308

Email: bmoskowitz@ferrotec.com