Friday, May 21, 2010 For Immediate Release

Townsend Industries, Inc. 6650 Northeast 41st Avenue Altoona, IA

TOWNSEND INDUSTRIES ANNOUNCES COMPANY CLOSING

Townsend Industries of Altoona, Iowa will be ending operations on Thursday, June 17, 2010 after over fifty years in business. Employees were notified of the closing in a company meeting on Thursday. The company was started in 1957 by Bob Townsend, who invented and manufactured the T-51 or "T-Head" to allow two-pass, two-color printing on small format offset presses. The product was recognized by nearly every major offset duplicator as a vital option to their presses and was sold worldwide. Townsend passed away on February 22, 2010, leaving a legacy of compassion for his employees and patronage in the city of Altoona, Iowa. He was instrumental in dozens of causes and charitable organizations, the development of the Altoona Campus gym and exercise center, Southeast Polk Dollars for Scholars, Altoona Food Bank and the Altoona Public Library among others.