October 22, 1999

Lila White
(804) 692-3110

Jack Schrader, CFO
Rapid Rack
(626) 333-7225
Jill Lawrence
(804) 371-0049
Governor Gilmore Announces 60 New Jobs for Hampton
--Rapid Rack to invest $5.1 million in facility; save an additional 40 jobs in state- -

Richmond - Governor Jim Gilmore today announced Rapid Rack's decision to locate a $5.1 million manufacturing facility in the City of Hampton's enterprise zone. Rapid Rack plans to acquire Hampton-based Whitney Rand and create 60 new jobs for the people of the Peninsula. The company will retain the existing 40 workers employed by Whitney Rand. Virginia successfully competed with South Carolina for the investment.

"Rapid Rack's decision to locate a facility in Virginia highlights the positive business climate and the growing economy of the Commonwealth and the greater Hampton Roads region," Governor Gilmore said. "This well-respected company will provide excellent job opportunities for the people of this region."

Rapid Rack Industries, Inc. is a California-based company specializing in material handling systems, which include a variety of custom storage racks and shelving for industrial and commercial use. The Hampton facility will serve current and potential customers on the East Coast. Products manufactured at the plant will include the company's popular Gorilla Rack brand of shelving and workbench products that are sold to Sam's Club, Lowe's and Costco.

"We selected Virginia because of its strategic East Coast location, impressive ports and highly-trained workforce," Rapid Rack Industries Chief Financial Officer Jack Schrader said. "We look forward to becoming Hampton's newest corporate citizen."

Governor Gilmore approved a grant from the Governor's Opportunity Fund in the amount of $75,000 to assist the City of Hampton with site preparation. The Virginia Economic Development Partnership, the Virginia Department of Transportation, the Peninsula Alliance for Economic Development, and the City of Hampton assisted Rapid Rack with its decision. The Virginia Department of Business Assistance will provide workforce training services.



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