ASSUMPTION, Ill., July 13 /PRNewswire/ -- The GSI Group, Inc. (the
"Company") announced today that it has received the requisite consents to
adopt all of the proposed amendments to the indenture related to its
outstanding 12% Senior Notes due 2013 (the "Notes"). The consent
solicitation and the related tender offer are being made in connection with
the previously announced merger of the Company's parent, GSI Holdings
Corp., with an affiliate of Centerbridge Capital Partners, L.P.
    As of 5:00 p.m., New York City time, on July 13, 2007 (the "Consent
Payment Deadline"), the Company had received consents and tendered Notes in
respect of 100% of the aggregate outstanding principal amount of Notes.
    It is expected that the supplemental indenture effecting the proposed
amendments will be executed shortly but such proposed amendments will only
become operative immediately prior to the acceptance for payment of all
Notes that are validly tendered (and not withdrawn) on or prior to the
Consent Payment Deadline.
    The Consent Payment Deadline with respect to the tender offer and
consent solicitation has now passed and withdrawal rights have terminated.
The tender offer will expire at midnight, New York City time, on August 13,
2007, unless extended or earlier terminated by the Company.
    The tender offer and consent solicitation relating to the Notes are
being made upon the terms and conditions set forth in the Offer to Purchase
and Consent Solicitation Statement dated June 29, 2007 (the "Offer to
Purchase") and the related Consent and Letter of Transmittal. Further
details about the terms and conditions of the tender offer and consent
solicitation are set forth in the Offer to Purchase.
    The Company has retained UBS Securities LLC to act as the Dealer
Manager for the tender offer and Solicitation Agent for the consent
solicitation. Persons with questions regarding the tender offers and the
consent solicitations should contact the Dealer Manager at 888-722-9555,
ext. 4210 (toll-free) or 203-719-4210 (collect). Requests for documentation
may be directed to MacKenzie Partners, Inc., the Information Agent, which
can be contacted at 800-322-2885 (toll-free) or 212-929-5500 (collect).
    This press release is for informational purposes only and is neither an
offer to purchase nor a solicitation of an offer to sell the Notes. The
offer to purchase the Notes is only being made pursuant to the tender offer
and consent solicitation documents, including the Offer to Purchase. The
tender offer and consent solicitation are not being made to holders of
Notes in any jurisdiction in which the making or acceptance thereof would
not be in compliance with the securities, blue sky or other laws of such
jurisdiction. In any jurisdiction in which the tender offers or consent
solicitations are required to be made by a licensed broker or dealer, they
shall be deemed to be made by UBS Securities LLC on behalf of the Company.
None of the Company, the Dealer Manager, the Information Agent or the
depositary makes any recommendation in connection with the tender offer or
the consent solicitation.
    Forward-Looking Statements
    Except for historical information contained herein, the statements in
this release are forward-looking. Forward-looking statements involve known
and unknown risks and uncertainties that may cause the actual results in
future periods of the Company to differ materially from forecasted results.
Those risks include, among other things, obtaining suitable financing to
support our growth in operations; possible acquisition or divestiture
transactions; managing our growth to achieve operating efficiencies;
successfully competing in our markets; adequately protecting our
proprietary information and technology from competitors; assuring that our
products are not rendered obsolete by products or technologies of
competitors; successfully managing product liability risks; and avoiding
problems with third parties, including key personnel, upon whom we may be
dependent. The risks associated with forward-looking statements are more
fully described in our filings with the Securities and Exchange Commission.
The Company assumes no duty to update its forward-looking statements as of
any future date.

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