M&M RECAPITALIZED BY TGF MANAGEMENT IN SUPPORT OF CONTINUED GROWTH

Fort Worth / Austin, Texas, June 13, 2007 - M&M Manufacturing Company and TGF Management Corp. are pleased to announce the recapitalization of M&M in support of the Company's continued growth and geographic expansion. Headquartered in Ft. Worth, Texas, M&M is a diversified fabricator of custom sheet metal products, primarily serving the air distribution and ventilation market. The investment by TGFM, made through its latest private equity fund, Southwest Opportunity Partners, L.P., will be in partnership with the existing ownership of M&M, who will remain active shareholders of the Company.

M&M will continue to be led by its President and Chief Executive Officer, Rod Stepp, who, in conjunction with M&M's management team, has been responsible for the Company's exceptional and consistent growth over the past 49 years.

"M&M is one of the best capitalized companies in the industry and now is even stronger due to our partnership with TGFM," said Rod Stepp. "We are well positioned to aggressively expand our HVAC customer base as well as develop new geographic relationships. Additionally, added emphasis will be placed on continued growth of the Precision Product line and the Industrial Sheet Metal application, which includes heavy fabrication products."

"M&M has become a leader in the metal manufacturing industry and a low cost producer of its core products by utilizing state of the art manufacturing machinery and automation processes," added Stepp, "Our partnership with TGFM, which brings us additional capital and resources, evidences our commitment to our customers and employees to further invest in our business."

Rob Felton, Chief Operating Officer of M&M added, "Our core steel duct pipe and fittings are used in both commercial and residential HVAC systems. In addition, we made the decision many years ago to diversify into other custom metal products that are unrelated to the air distribution industry. Through this diversity, M&M has enjoyed consistent and steady growth despite a shift in residential construction over the past several decades to a polyester flexible duct system, which independent research has proven to be less energy efficient than steel duct. In fact, typical "as-built" production homes with flexible duct systems may experience utility bills 10% to 15% higher than the same home with a steel duct system. Both M&M and TGFM believe it will be only a matter of time before the residential builders in the Southwest respond to consumer demands for increased energy efficiency by increasing their use of the more cost and energy efficient alternative in steel duct. We view the savings currently being sacrificed as a missed opportunity for both the consumer and the environment."

"We are excited to partner with Rod Stepp and the rest of the M&M team in support of the continued success of M&M," said Antonio DiGesualdo, a Partner at TGF Management Corp. "We have a great deal of experience investing in companies that support the growing population of the Southwest and are very positive on the outlook for the commercial and residential construction markets in our region."

M&M was exclusively represented by Western Strategic Advisors of Fort Worth in the transaction.

About M&M Manufacturing Company
M&M was founded in 1958 by M. M. Stepp and L. M. Watkins. Rod Stepp, current President and CEO since 1968, joined the company in 1963 and was followed by his brother, Mike Stepp, in 1964. M&M has established itself as the leading manufacturer and supplier of steel duct pipe and fittings in the Southwest servicing its commercial and wholesale customers through manufacturing facilities in Fort Worth, Dallas, Houston, and Wichita Falls, Texas. Additionally, M&M's Precision Products division manufactures precision sheet metal parts for a variety of industries including industrial, electronics, and consumer products. With a substantial investment in both manufacturing technology and a fleet of Company-owned delivery vehicles and trailers, M&M has become the vendor of choice through its adherence to product quality and customer service. For further information, visit M&M's website at www.mmmfg.com.

About TGF Management Corp.
Austin, Texas-based, TGF Management Corp. is one of the oldest and most active private equity firms in the Southwest, focusing on partnering with management teams and operational executives in the acquisition of middle market companies. Since 1992, TGFM has invested in over 40 companies with combined revenue in excess of $3.5 billion. TGFM currently manages in excess of $700 million on behalf of the Texas Growth Fund, and its latest private equity fund, Southwest Opportunity Partners, L.P. For further information, call 512.322.3100 or visit TGFM's website at www.tgfmanagement.com.

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Contacts:

Antonio DiGesualdo
512.322.3100
Located in Austin, Texas. For more information, please contact us.