2nd June 2008 - Hawk Completes Sale of Tex Racing

Hawk Corporation has announced that the Company has completed the sale of Tex Racing Enterprises Inc. to Leonard C. Long, a manufacturer of motorsport components based in Cleona, Pennsylvania and Charlotte, North Carolina. The Company continues to negotiate with potential buyers for the sale of its remaining performance racing operation, Quarter Master Industries, Inc.

The completed sale and the continuing negotiations are the result of Hawk's announced strategy to divest the performance racing segment in order to concentrate on its friction related businesses. The Company will retain its Hawk Performance(R) brake business which manufactures brake and clutch materials for racing and other performance automotive applications and which has always been a component of its friction products segment.

The Company's financial statements and all other information reflect the performance racing segment as a discontinued operation for financial reporting purposes. Terms of the transaction were not disclosed.

The Company

Hawk Corporation is a leading supplier of friction materials for brakes, clutches and transmissions used in airplanes, trucks, construction and mining equipment, farm equipment, recreational and performance automotive vehicles. Headquartered in Cleveland, Ohio, Hawk has approximately 1,100 employees at 11 manufacturing, research, sales and administrative sites in 7 countries.

Hawk Corporation is online at: http://www.hawkcorp.com