Hardinge Announces Co. Exploring Strategic Alternatives, Has Retained BMO as Financial Advisor

Hardinge Inc. (NASDAQ: HDNG), a leading international provider of advanced metal-cutting solutions and accessories, today announced that its Board of Directors, working together with its management team, is exploring strategic alternatives to enhance shareholder value. These alternatives could include, among other things, a possible sale, merger or other form of business combination or strategic transaction. The Company and the Board are working with BMO Capital Markets Corp., as financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP, as legal advisor, to assist in its evaluation of strategic alternatives.There is no set time table for this process of exploring strategic alternatives. The Company stated that no decision has been made with regard to any alternatives and that there can be no assurance that the Board's exploration of strategic alternatives will result in any transaction being entered into or consummated. Hardinge does not intend to discuss or disclose developments with respect to this process until the Board has approved a definitive course of action or otherwise concludes the review of strategic alternatives.