CEO of Chromalloy, Named to Parent Sequa's Board

Board Elects H. Leitner Senior Vice President, Finance and R. DeVito Vice President, Development & Planning; J. Van Decker Advances to Assistant Controller

The board of directors of Sequa Corporation voted unanimously today to elect Dr. Martin Weinstein to membership, increasing the size of the board to 12 members.

Weinstein, 63, was also promoted to executive vice president, from senior vice president, with continuing responsibility for Chromalloy Gas Turbine, Sequa's largest operation. Weinstein has served as chairman and chief executive officer of the Chromalloy unit since its formation in 1987. He was previously responsible for gas turbine operations at Chromalloy American Corporation, which was acquired by Sequa at the end of 1986.

Also at today's meeting, the board voted to elect Howard M. Leitner senior vice president, finance; to elect Robert D. DeVito vice president, corporate development and strategic planning; and to appoint John Van Decker assistant controller.

Leitner, 59, joins the company from Chock Full o'Nuts Corporation, where he was senior vice president and chief financial officer. As CFO of Sequa, he succeeds Gerald S. Gutterman, who has retired and is presently serving as a consultant to the company.

DeVito, 46, was previously assistant controller of Sequa, a post he held since 1993. In his new position DeVito assumes responsibility for refinement of the company's long-term strategic goals and objectives, as well as for the development of operations through both internal and external channels.

Van Decker, 40, succeeds DeVito as assistant controller, with responsibility for corporate accounting and budgeting, as well as for financial reporting. Previously, he was director of corporate accounting since 1993.

Sequa Corporation is a diversified, technology-driven manufacturer whose operations cross a wide range of markets. They include the repair and manufacture of components for jet engines; the production of rocket propellant and gas generators for military and space applications; the manufacture of machinery for two-piece can forming and decorating; the coating of steel and aluminum coil for building products and other markets; the production of auxiliary printing equipment and industrial dryers; the manufacture of men's formalwear, and the production of automotive cigarette lighters, power outlets and other components. For additional information, visit Sequa's website at www.sequa.com.

Weinstein joined Sequa in 1986, following the acquisition of Chromalloy American Corporation, which he had joined in 1968. He was elected a vice president of Sequa in 1987 and advanced to senior vice president in 1988. Weinstein has served as chairman and chief executive Sequa's Chromalloy Gas Turbine subsidiary since its formation in 1987. A graduate of Rensselaer Polytechnic Institute, Weinstein received a science doctorate (ScD) from Massachusetts Institute of Technology.

Leitner joins Sequa from Chock Full o'Nuts Corporation, where he served as senior vice president and chief financial officer (1980-1986 and 1995-99) and as president (1986-1995). Previously, he spent 17 years in the public accounting field, most recently with Ernst & Young (formerly Ernst & Whinney). A graduate of New York's Baruch College, Leitner is a certified public accountant and a member of both the AICPA and the New York State Society of CPAs.

DeVito joined Sequa in 1987 as manager of financial reporting, was promoted to director of corporate accounting in 1990, and was appointed assistant controller in 1993. He began his career as an auditor with Price Waterhouse and later served as manager of financial reporting for GrandMet. Mr. DeVito is a certified public accountant with an MBA from Rutgers Graduate School of Business and a BA in finance from Rutgers College.

Van Decker has been with Sequa since 1987, when he joined the company as a senior accountant. He advanced to manager of corporate reporting in 1988 and has served as director of corporate accounting since 1993. A certified public accountant, Mr. Van Decker began his career in 1981 with Price Waterhouse. He holds both an MBA and a BA from Rutgers University in New Jersey.