Kryptonite, announced that Steve Down has been appointed by Ingersoll-Rand to
launch a dramatic growth initiative for the Kryptonite business unit. In
his role as Director, Business Development, Portable Security, Down reports
directly to John Evans, Vice President Locks & Components.

“Kryptonite is an exciting business with a great history that I intend to
build upon to drive the core business forward as well as expand into
additional vertical markets worldwide to drive long-term growth for the
company,” said Down.

As Director, Business Development, Portable Security, Down will oversee the
Kryptonite teams based both in Massachusetts and Indiana. He will be
responsible for expanding Portable Security on a worldwide basis, creating
a portfolio of new products and programs targeting end user solutions and
continuing to drive operational excellence within the organization. Down
will also continue to support the Security & Safety Sector on other key
business development initiatives.

Prior to Ingersoll-Rand, Down was the General Manager of UK Operations for
CISA, a company he was with for over 8 years. CISA manufactures electronic
locks, safes, padlocks and cylinders. Throughout his tenure at CISA, Down
was involved in all aspects of sales, marketing and partnership
development. It was the latter expertise that facilitated Ingersoll-Rand's
acquisition of CISA.

“Steve's prior experiences in the international lock business will be an
invaluable asset to the Kryptonite brand,” said Evans. “Ingersoll-Rand is
confident that he is the best person to guide the Kryptonite team through
an aggressive strategic plan and then fully execute that plan to maximize
the company's dramatic growth potential.”

Down also worked for Heras Fencing, a Dutch perimeter company as its
General Manager. The company specializes in gates, fencing and barriers.
Before that Down was a Regional Sales Manager at Adams Rite in England.

Reporting directly to Down at Kryptonite are the following: Roger Cross,
Director of Global Sales; Rosalie Garver, Customer Service Manager; Tom
Fowler, Business Director, Action Sports; Neil Mc Daid, Director, Product
Development & Design and Karen Rizzo, Director, Brand Management.

Originally from the Southeast of England, Down will be based primarily in
Carmel, Indiana, but spend a good portion of time at Kryptonite's world
headquarters in Canton, Massachusetts.