Mecachrome Receives Financing Commitments Totalling 30 Million Euro

Mecachrome International Inc. ("Mecachrome") (TSX: MCH.TO) announced today that it has received commitments to finance its operations in the amount of 30 million euros. This financing includes a 20 million euros debtor-in-possession (DIP) financing facility from the Fonds de solidarité FTQ, and from the funds Aerofund, funds managed by ACE Management. In addition, Mecachrome's French subsidiary, Mecachrome France, has received financing commitments from French banks for a 7 million euros credit facility as well as a financing commitment from the CIRI (Comité Interministériel de Restructuration Industrielle) for a loan of 1 million euros. In the context of these financings, Mecachrome has also received financial support in the amount of 2 million euros from one of its main customers.

These financings totalling 30 million euro will allow Mecachrome to meet its current operating needs during its restructuring period. The financings are subject to certain customary conditions for DIP facilities, including Court approvals in Canada and in France.

"This financing package will allow us to ensure the stability of Mecachrome as it reorganizes under the protection of the Courts in Canada and in France. We are pleased to have obtained our capital providers' support which enables us to complete this important step in our restructuring process" said Mr. Christian Jacqmin, Mecachrome's President and Chief Executive Officer.

The Fonds de solidarité FTQ is a development capital investment fund that calls upon the savings of Quebecers. The Fonds de solidarité FTQ invests in all sectors of the economy to help create and maintain jobs and to further Québec's economic growth. The mission of the funds Aerofund, managed by ACE Management and sponsored by CDC Entreprises (a subsidiary of Caisse des Dépôts et Consignation) within the framework of France Investissement and of large industrial groups in the aeronautics sector (EADS, AIRBUS and SAFRAN), is to support the consolidation and development of subcontractors in the industry. ACE Management is lead by Mr. Thierry Letailleur.

Mecachrome announced on December 12, 2008 that it had obtained Court protection under the Companies' Creditor Arrangement Act (Canada) and that its French subsidiaries had obtained similar protection under the safeguard procedure (procédure de sauvegarde) in France. These filings were made in the context of the Board's ongoing review of Mecachrome's strategic alternatives to improve Mecachrome's liquidity and financial position and reduce its financing costs.

About Mecachrome International Inc.

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Mecachrome is a leader in the design, engineering, manufacture and assembly of complex precision-engineered components for aircraft and automotive applications, including aerostructural and aircraft engine components, high-end automobile engine components and motor racing engines. Since 1937, Mecachrome has established a significant presence and global reputation in certain high-precision sectors of the aerospace, automotive and industrial equipment industries, providing services primarily to original equipment manufacturers. The company currently operates 11 state-of-the-art facilities, principally in France and Canada.

Forward-looking statements

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All statements, other than statements of historical facts, included in this news release are forward-looking statements or contain forward-looking information (within the meaning of the Québec Securities Act and the Ontario Securities Act). Although we believe that the expectations reflected in these forward-looking statements and forward-looking information are reasonable, these statements involve risks and uncertainties and are not guarantees of future performance.

We can give no assurance that these estimates and expectations will prove to have been correct, and actual outcomes and results may differ materially from what is expressed, implied or projected in such forward-looking statements and forward-looking information. There are a number of important risks and uncertainties that could, and often do, cause our actual results to differ materially from those indicated or implied by forward-looking statements and forward-looking information, including the risks and uncertainties discussed in Mecachrome's Annual Information Form for the year ended December 31, 2007. Given the uncertainty of forward-looking statements and forward-looking information, investors are cautioned not to place undue reliance on these statements and information. The forward-looking statements and forward-looking information speak only as of the date made, and Mecachrome expressly disclaims any intention or obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable law. Note to readers: The consolidated interim financial statements and Management's Discussion & Analysis of financial results are available on Mecachrome's website at www.mecachrome.com or on www.sedar.com.

Contacts

Jean-François Villion
(514) 843-2396
Mobile: (514) 951-0993
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