Plante & Moran and AFME’s New Entity Uniquely Positioned to Help Companies Improve Their Bottom Line

Southfield, Mich.--- Plante & Moran, PLLC, the nation’s tenth largest accounting and consulting firm, has signed a letter of intent for Nashville-based AFME, Inc., a manufacturing operations management firm, to become a Plante & Moran affiliate. The entity will bring a unique and unmatched array of financial and operations capabilities helping companies significantly improve bottom line performance. From companies who are under performing and in crisis to high performance organizations seeking to achieve the next level of financial and operational excellence, the combined entities are uniquely positioned to provide services to the manufacturing industry.

AFME has broad management and consulting experience assisting Fortune 500 and privately held manufacturing companies, primarily in automotive as well as other industry sectors. The capabilities from these two highly respected firms will allow Plante & Moran to provide a full spectrum of integrated financial, operational, strategic, organizational, and technological services to clients. The affiliate will operate out of Nashville, Tenn. and Southfield, Mich. Plante & Moran and AFME, Inc. expect to finalize this agreement in June 2004.

“Every company in today’s world is faced with the necessity of reducing costs, especially in manufacturing. The combined firms will create a unique and differentiating set of financial and operations service capabilities all focused on taking costs out of the system and significantly improving operational performance. The breadth and depth of our combined talents clearly sets us apart from others serving both the restructuring and operations excellence market niches. This will elevate the value we provide our clients,” states Leslie Murphy, CPA, and Plante & Moran’s Managing Partner for Client Services.

Dan Ploger, Chairman of AFME, Inc. says this affiliation with Plante & Moran deepens their operational expertise and complements it with world class financial capabilities. “It will position us to better serve companies before they begin to experience problems and help companies who want to make the next step in their business evolution. Our combined objective is to do everything possible to ensure a company’s future viability and to help them reach their fullest potential.”

Plante & Moran is a professional services firm offering fully integrated business advisory services on a national basis to help their clients succeed. With certified public accountants and consulting specialists focused in specific industries, Plante & Moran’s services include technology and business consulting, assurance, tax, and family wealth management. Founded in 1924, Plante & Moran is the nation’s 10th largest certified public accounting and management consulting firm according to Public Accounting Report. Plante & Moran has been recognized by a number of organizations, including Fortune magazine, as one of the country’s best places to work. The firm has a staff of more than 1,400 professionals in 18 offices throughout Michigan, Ohio and Illinois. Plante & Moran’s Internet address is www.plantemoran.com.

Founded in 1990, AFME, Inc. is located in Nashville, Tennessee. They are specialists in manufacturing consulting, implementation and turnarounds with over 200 engagements producing significant cost savings and improvements for their clients. AFME’s mission is to help manufacturers achieve their operating potential through the design and implementation of improved production systems using the AFME METHOD of problem solving. In addition, they also assist lending institutions by providing manufacturing expertise in evaluating new loans to reduce risk and to improve the cash position of companies with troubled loans. AFME’s Internet address is www.afme.com.