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Strattec Security Corporation Announces Collective Bargaining Agreement

18 November 1997

Strattec Security Corporation Announces Collective Bargaining Agreement

    MILWAUKEE, Nov. 17 -- Strattec Security Corporation
announced that on November 15th, its employees, represented by
Local 7232 of the United Paperworkers International Union, ratified a new
collective bargaining agreement with the Company.  The new agreement is
effective January 1, 1998 through May 31, 2001, following expiration of the
current agreement on December 31, 1997.
    The new agreement provides for a cash payment of $1,300 to each
represented employee in November of this year, and wage increases of 2%
effective January 1, 1999 and 3% effective January 1, 2000.
    The Company will record a pre-tax charge of approximately $750,000 in the
December, 1997 quarter as a result of the initial cash payment to its
represented employees.
    Strattec Security Corporation designs, develops, manufactures and markets
mechanical locks, electro-mechanical locks and related security products for
North Amercian automotive manufacturers.

SOURCE  Strattec Security Corporation