Historic Effort to Keep Winchester Firearms American

NEW HAVEN, Conn.--(BUSINESS WIRE)--June 14, 2006--Winchester Firearms, that evoke images of the cowboys, buffalo, and in many parts of the world America, itself, is in danger of disappearing from these shores forever. Unless new owners can be found, Winchester Firearms will be moved wholly off-shore after 140 years. The firearms that won the west and helped arm the free people of the world through two world wars stopped all US production in March of this year. The last chance for this old soldier to stay an American started on June 1st and ends on June 23rd. That's 9 days to save THE American Icon.

Kevin S. Tierney, resolution specialist and owner of Workout Solutions, Inc. of Guilford, Connecticut has partnered with industry consultant Michael H Blank, owner of MHB Enterprises of Saint Charles, Missouri in the historic effort to keep Winchester Rifles, the American Icon, an American made product. Workout Solutions, Inc. was appointed by both the City of New Haven, Connecticut and U.S. Repeating Arms Company, the exclusive licensee of the Winchester brand for the manufacture of firearms from the Olin Corporation (OLN) to try and find an American buyer. The Belgian based Herstal Group; parent of U.S. Repeating Arms Company, made the decision after efforts by Tierney, Blank, and the City, backed by the tremendous volume of support shown by patrons of Winchester firearms on www.SaveWinchester.com convinced them that sufficient demand in the market place warranted this attempted sale. www.SaveWinchester.com has had 4.7 million page requests from 49 countries since its inception nine weeks ago.

Workout Solutions, Inc. has opened www.WinchesterForSale.com to help facilitate the dissemination of information during the extremely short selling period which opened June 1st and closes on June 23rd. "We all know this is an uphill battle," Tierney said, "but this is Winchester we are talking about. Winchester firearms supplied the free nations of the world through two world wars and made the rifles that helped America become the country it is." Tierney was careful to note that this sale is only for the assets of the U.S. Repeating Arms Corporation and not the Winchester name itself. If there is a "Qualified Buyer," then we will open new license negotiations for the Winchester name which is owned by Olin Corporation (OLN). Olin sold off the firearms division to U.S. Repeating Arms in 1981; however, Olin has agreed to consider any new purchaser for a license to continue the tradition within certain parameters outlined on the website.

"Firearms have always been part of our country's history. Our reputation as a nation of marksman started before the Revolution. Exactly that ability saw us through the Revolution successfully and have kept us free and independent since," stated Blank. "Companies in the industry like Smith & Wesson (SWB) and Sturm Ruger (RGR) and others like Harley Davidson (HD) have shown that American manufacturing is not dead, not by a long shot. The growth of cowboy action shooting and beneficial legal developments nation wide are positive indicators," Blank continued. "Contrary to the beliefs of some, the firearms industry and shooting sports are still a major past time in this country and as baby boomers continue to return to the things of their youth I see only growth in our future."

Both Tierney and Blank note that several interested and qualified parties have already indicated interest, but that there is still time for interested parties and funds to come forward and participate in this historic sale. All interested parties are encouraged to visit www.WinchesterForSale.com and www.SaveWinchester.com. The final deadline to submit proposals is June 23, 2006.

Note to Editors: Video accompanies this release