Common use of Rights of Withdrawal Clause in Contracts

Rights of Withdrawal. However, the Merger Agreement may be terminated by any party on and after August 29, 2003. Although Signal is required to file certain information and documentary material with the FTC and the Antitrust Division in connection with the Offer, neither Signal's failure to make such filings nor a request from the FTC or the Antitrust Division for additional information or documentary material made to Signal will extend the waiting period. The FTC and the Antitrust Division frequently scrutinize the legality under the antitrust laws of transactions such as the proposed acquisition of Shares by Purchaser pursuant to the Offer and the Merger. At any time before or after Purchaser's purchase of Shares, the Antitrust Division or the FTC could take such action under the antitrust laws as it deems necessary or desirable in the public interest, including seeking to enjoin the acquisition of Shares pursuant to the Offer or seeking divestiture of Shares acquired by Purchaser or the divestiture of substantial assets of Crane, Signal or any of their respective subsidiaries. Private parties (including individual states of the United States) may also bring legal action under the antitrust laws under certain circumstances. There can be no assurance that a challenge to the Offer on antitrust grounds will not be made or, if a challenge is made, what the result will be. See "Section 14--Certain Conditions of the Offer" for certain conditions to the Offer that could become applicable in the event of such a challenge. State Takeover Laws. A number of states have adopted laws and regulations that purport to be applicable to offers to acquire securities of corporations which are incorporated in those states, or that have substantial assets, stockholders, principal executive offices or principal places of business or whose business operations otherwise have substantial economic effects in, those states.