Precision Castparts Announces Key Leadership Change


PORTLAND, Ore., May 28, 2008 - William D. Larsson, senior vice president and chief financial officer, will be retiring from the company at the end of the calendar year and will be succeeded by Shawn Hagel, currently vice president of finance for the company.

"We want to thank Bill for all his hard work during his long association with Precision Castparts Corp.," said Mark Donegan, the company's chairman and chief executive officer. "He's been a valued contributor here for 28 years, most of which he served as our chief financial officer. Over that long period, SEC regulations have changed, and GAAP standards have taken strange turns, but Bill stayed on top of it all. He provided guidance to me, my predecessor, and the board, and we all knew that guidance could be trusted. And, along the way, he has built a solid financial team around him, extending from the corporate office to our manufacturing operations."

Larsson, 62, joined the company in 1980.

Precision Castparts Corp. (NYSE:PCP) is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power generation, automotive, and general industrial and other markets. PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, and forged components used in jet aircraft engines and industrial gas turbines. The Company is also a leading producer of highly engineered, critical fasteners for aerospace, automotive, and other markets and supplies metal alloys and other materials to the casting and forging industry.

CONTACT:
Precision Castparts Corp.
Dwight Weber
(503) 417-4800

http://www.precast.com

All Topics