Dynatech Corporation's CEO, John Reno, Announces Retirement.

BURLINGTON, Mass., May 19 /PRNewswire/ -- John F. Reno today announced his retirement as Chairman, President and Chief Executive Officer of Dynatech Corporation (OTC Bulletin Board: DYNA).

"Some time ago I promised myself that when I turned 60, I would assess my personal situation and make decisions about spending time on other endeavors. After 25 years with Dynatech, that time has come. After consulting with our directors about succession to my leadership, Mr. Ned Lautenbach, from Clayton, Dubilier and Rice, has been named to replace me as chief executive officer," said Mr. Reno.

"I have many outside interests which I enjoy and on which I want to focus. I feel I owe it to myself and my family to take this step which we all must at one time or another. Proudly, I am leaving Dynatech at record performance levels," he continued. "Our management team is extremely competent and together with the support of our equity partner, Clayton, Dubilier & Rice, I am certain they will continue to bring the company to even greater financial heights. I look forward to, and will applaud, their economic success."

Mr. Reno joined Dynatech in 1974. In 1991 he was named president, and in 1993, he was appointed Chief Executive Officer. In 1996, Mr. Reno assumed the role of Chairman of the Board while still actively serving as President and CEO.

Mr. Reno initiated Dynatech's management-led recapitalization in 1998, inviting Clayton, Dubilier & Rice to become the Company's equity partner. During his period as Chief Executive, the Company has grown 18.4% per year and its enterprise value has risen from $250 million to over $950 million.

"We are pleased with the many changes Jack has implemented during CD&R's first year of equity ownership, particularly the installment of a strong management team. Dynatech is now better positioned to achieve long-term financial success and we thank him for his accomplishments," said Joseph L. Rice, III, Chairman of Clayton, Dubilier & Rice. "We are confident that Ned's background with a technology oriented company will enable him to lead Dynatech effectively."

Prior to joining Clayton, Dubilier & Rice, Mr. Lautenbach served as Senior Vice President and Group Executive of Worldwide Sales and Services at IBM Corporation. During his extensive tenure with IBM, he held a variety of senior executive positions, including President of the National Distribution division of the U.S.; President, Asia Pacific; as well as Chairman, IBM World Trade Corporation. Mr. Lautenbach received his MBA from Harvard University after having completed his undergraduate studies in economics at the University of Cincinnati.

Dynatech Corporation is a global communications company focused on network technology solutions. Its products address communications test, industrial computing and communication, and visual communications applications. Headquartered in Burlington, Massachusetts, Dynatech sells products worldwide

through subsidiaries located throughout the Americas, Europe and Asia. (Internet URL: http://www.dynatech.com.)