Raleigh, North Carolina -- August 28, 2000 -- DT Magnetics, Inc., a manufacturer of complex Custom and Standard Magnetics, announced the opening of a new 55,000 square foot plant in the San Isidoro Free Zone, Santo Domingo, Dominican Republic. This increases the capacity of the current operation by 30,000 square feet. This expansion is in response to the significant increase in demand for Magnetic components across all market segments, primarily in Telecommunications, Medical Electronics and Industrial Controls.

"We have seen a dramatic increase in revenues during the past 18 months and anticipate continued long-term demand for our current and new product introductions," said Barry Hegarty, President of DT Magnetics. "The new plant will house state-of-the-art automatic equipment, focusing on the higher volume requirements of our customers.

“The proximity of the Dominican Republic coupled with our 24/7 design and manufacturing engineering capability satisfies our customers need for maximum flexibility with minimum interruptions to schedules at globally competitive prices," Mr. Hegarty said.

DT Magnetics, Inc., headquartered in Raleigh, North Carolina, with divisions in Dover, New Hampshire, and the Dominican Republic, designs, develops, manufactures and markets complex Custom and Standard, Power and Signal Magnetics. The company's products are focused in the high reliability market for the Telecommunications/Data Communications, Medical and Industrial Controls marketplaces.

Dover Corporation is a diversified manufacturer of industrial products.