<HTML><FONT FACE=arial,helvetica><FONT SIZE=2>List,
<BR>
<BR>This news from the stock market report: Baldwin is cutting back. A few days
<BR>ago, it sold it's electronics division, now the following news. In the past
<BR>3 years, Baldwin's stock value has fallen steadily from $17 a share to about
<BR>$2.
<BR>
<BR></FONT><FONT COLOR="#000000" SIZE=5 FAMILY="SANSSERIF" FACE="Arial" LANG="0"><B>Baldwin Piano to Shut Mississippi Plant, Cut 275 Jobs
<BR>
<BR></FONT><FONT COLOR="#000000" SIZE=2 FAMILY="SANSSERIF" FACE="Arial" LANG="0"></B>
<BR>Mason, Ohio, Jan. 31 <A HREF="aol://4344:30.bloombrg.389091.602536905">(Bloomberg)</A> -- Baldwin Piano & Organ Co., the maker of
<BR>keyboard musical instruments for more than 140 years, said it will cut 275
<BR>jobs as it closes a Mississippi plant and contracts out production of
<BR>components to other woodworking plants in the U.S. and overseas to trim
<BR>costs.
<BR>
<BR>The closure of the Greenwood, Mississippi, plant by the middle of the year is
<BR>expected to cut overhead costs and inventories, while generating annual
<BR>pretax savings of more than $3 million, the Mason, Ohio-based company said in
<BR>a statement. Baldwin will take a $2.5 million charge to close the plant,
<BR>which it plans to sell.
<BR>
<BR>Baldwin, which makes instruments under brand names such as Baldwin, Wurlitzer
<BR>and Chickering, has struggled as demand for pianos slackens, inventory levels
<BR>remain high and less expensive Asian-made keyboards have flooded the U.S.
<BR>market.
<BR>
<BR>Its shares fell 2 cents to $2.05 in trading on the Nasdaq Stock Market. They
<BR>had fallen 76 percent in the past year.
<BR>
<BR>Jan/31/2001 16:18 ET
<BR>
<BR>Bill Bremmer RPT
<BR>Madison, Wisconsin</FONT></HTML>