QUIP Quipp (MM)

David W. Wright Elected To Quipp's Board of Directors MIAMI, Nov. 15 /PRNewswire-FirstCall/ -- Quipp, Inc. (NASDAQ:QUIP) announced today that it has reached an agreement with a group led by Henry Partners, L.P., which holds approximately 9.9% of Quipp's common stock. Under the agreement, Quipp has expanded its Board of Directors to eight members, elected David W. Wright as a director of the company and agreed to nominate Mr. Wright for election as a director at the 2006 and 2007 annual meetings of shareholders. In addition, under the agreement, the Henry Partners group agreed to support the reelection of Quipp's other nominees and agreed to standstill provisions. Quipp and the Henry Partners group also made other commitments. Mr. Wright will serve on the Audit Committee of the Board. Mr. Wright is President of Henry Investment Trust, L.P., based in Philadelphia, PA. Henry Investment Trust acts as general partner to Henry Partners, L.P. and Matthew Partners, L.P., which are private investment partnerships that invest in securities of publicly traded companies. Michael S. Kady, President and Chief Executive Officer of Quipp, stated: "We welcome Mr. Wright to the Board. We anticipate that, by virtue of his position as investment manager for one of our largest shareholders, he will provide a useful perspective on corporate matters." David W. Wright stated: "I appreciate the opportunity to serve on the Board of Directors of Quipp. I look forward to working productively with the other members of the Board in seeking to enhance shareholder value." Quipp also announced that the 2006 annual meeting of shareholders will be held on December 12, 2006. DATASOURCE: Quipp, Inc. CONTACT: Michael Kady of Quipp, Inc., +1-800-345-9680 Web site: http://www.quipp.com/

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