WHITE PLAINS, N.Y., June 20 /PRNewswire-FirstCall/ -- Following its annual meeting of shareholders on May 25 , K&F Industries Holdings, Inc. (NYSE: KFI) elected Jack Peiffer as a new independent director to its Board of Directors. With this addition, K&F Industries' Board will now consist of eight members. Mr. Peiffer will serve on K&F's Audit Committee along with Thomas A. Johnson and J. Thomas Zusi, Chairman of the committee, and will replace Dale F. Frey who remains a member of the company's Board.

'We welcome Jack to K&F's Board of Directors,' stated Kenneth M. Schwartz, K&F president and chief executive officer. 'His extensive experience with the finance and human resource organizations of a world-class company such as General Electric makes him well-equipped to add value to both our Board of Directors and Audit Committee. As an independent director, his addition further enhances our Board composition from a corporate governance perspective and we look forward to his contributions going forward.'

Mr. Peiffer, 72, retired from General Electric in 1994 after thirty-eight years of service. He joined GE in 1955, entering the company's financial training program. In the years that followed, Mr. Peiffer held the positions of Traveling Auditor and Manager of Information and Data Process Services for the Radio Receiver business, followed by Senior Financial Management positions in the Industrial Diamond business, the Chemical and Metallurgical Group and the Technical Materials Sector of GE. He later became Vice President and General Manager for General Electric Supply Company, and in 1983 was appointed Senior Vice President-Human Resources reporting directly to the CEO and Chairman of the Board.

Mr. Peiffer earned his B.S. in mathematics at Albright College.

K&F Industries Holdings, Inc., is a worldwide leader in the manufacture of braking equipment for commercial transport, general aviation and military aircraft through its Aircraft Braking Systems Corporation subsidiary. The company manufactures a wide range of braking equipment including antiskid, auto-brake, brake-by-wire systems, and brake temperature monitoring systems as well as main and nose wheels, carbon and steel brakes, and ancillary equipment. Its products are installed on approximately 26,000 aircraft worldwide, more than any other supplier.

In addition, K&F Industries operates Engineered Fabrics Corporation (EFC), a leading producer of aircraft fuel tanks, de-icing equipment and specialty coated fabrics used for storage, shipping, environmental and rescue applications for the commercial and military markets.

Forward Looking Statements

Some statements and information contained herein are not historical facts, but are 'forward-looking statements,' as that term is defined in the Private Securities Litigation Reform Act of 1995. In addition, the Company or its representatives have made and may continue to make forward-looking statements, orally, in writing or in other contexts, such as in reports filed with the SEC or in press releases. These forward-looking statements may be identified by the use of forward-looking terminology, such as 'believes,' 'expects,' 'may,' 'should' or the like, the negative of these words or other variations of these words or comparable words, or discussion of strategy that involves risk and uncertainties. We caution you that these forward-looking statements are only predictions, and actual events or results may differ materially as a result of a wide variety of factors and conditions, many of which are beyond our control. Some of these factors and conditions include: (i) government or regulatory changes, (ii) dependence on our subsidiary, Aircraft Braking Systems Corporation, for operating income, (iii) competition in the market for our products, and (iv) our substantial indebtedness. This press release should be read in conjunction with our periodic reports filed with the SEC. We undertake no obligation to revise these statements following the date of this press release.

SOURCE K&F Industries Holdings, Inc.