"We want to thank Bill for all his hard work during his long association with Precision Castparts Corp.," said Mark Donegan, the company's chairman and chief executive officer. "He's been a valued contributor here for 28 years, most of which he served as our chief financial officer. Over that long period, SEC regulations have changed, and GAAP standards have taken strange turns, but Bill stayed on top of it all. He provided guidance to me, my predecessor, and the board, and we all knew that guidance could be trusted. And, along the way, he has built a solid financial team around him, extending from the corporate office to our manufacturing operations."

Larsson, 62, joined the company in 1980.

Precision Castparts Corp. (NYSE:PCP) is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power generation, automotive, and general industrial and other markets. PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, and forged components used in jet aircraft engines and industrial gas turbines. The Company is also a leading producer of highly engineered, critical fasteners for aerospace, automotive, and other markets and supplies metal alloys and other materials to the casting and forging industry.

Information included within this press release describing projected growth and future results and events constitutes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results in future periods may differ materially from the forward-looking statements because of a number of risks and uncertainties, including but not limited to fluctuations in the aerospace, power generation, automotive, and other general industrial cycles; the relative success of the Company's entry into new markets; competitive pricing; the financial viability of the Company's significant customers; the availability and cost of materials, energy, supplies, insurance, and pension benefits; equipment failures; relations with the Company's employees; the Company's ability to manage its operating costs and to integrate acquired businesses in an effective manner; governmental regulations and environmental matters; risks associated with international operations and world economies; the relative stability of certain foreign currencies; and implementation of new technologies and process improvement. Any forward-looking statements should be considered in light of these factors. The Company undertakes no obligation to publicly release any forward-looking information to reflect anticipated or unanticipated events or circumstances after the date of this document.

Precision Castparts Corp.'s press releases are available on the Internet at PrimeNewswire's website - http://www.PrimeNewswire.com or PCC's home page at http://www.precast.com.

CONTACT:  Precision Castparts Corp.
          Dwight Weber
          (503) 417-4800
          http://www.precast.com