Ceramic Industry News

Oglebay Norton Selects Financial Adviser, Elects Directors

Oglebay Norton Co. recently announced that it had selected CIBC World Markets as its financial advisor to assist the company in developing a plan to refinance its bank debt, due April 3, 2003. Oglebay Norton anticipates presenting a plan to its bank group no later than June 30, 2002; however, it does not anticipate making its plans public at that time. At the company's recent annual meeting, the shareholders elected all nine nominees for the position of director to serve for a period of one year and approved the 2002 Stock Option Plan. Elected as directors were John N. Lauer, who also serves as chairman of the board and chief executive officer; Michael D. Lundin, who also serves as president and chief operating officer; Albert C. Bersticker, who also serves as the outside lead director; Malvin E. Bank; William G. Bares; James T. Bartlett; Madeleine W. Ludlow; William G. Pryor; and John D. Weil.

The company's website is located at http://www.oglebaynorton.com.

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