<Page>
EXHIBIT 99
- --------------------------------------------------------------------------------
NEWS RELEASE [CARLISLE LOGO]
- --------------------------------------------------------------------------------
(CSL) CARLISLE TO ACQUIRE DAYCO INDUSTRIAL POWER TRANSMISSION BUSINESS
CHARLOTTE, NORTH CAROLINA, August 13 2001 . . . Carlisle Companies Incorporated
(NYSE:CSL) announced today that it has signed a definitive agreement to acquire
the Dayco Industrial Power Transmission business of Mark IV Industries, Inc. for
a purchase price of approximately $150 million, consisting of cash and
assumption of certain long-term liabilities and will be subject to post-closing
balance sheet adjustments. The Dayco unit produces and sells transmission belts
and accessories used by industrial customers to transfer power from motors and
engines to motive and stationary drive systems. With annual sales of
approximately $200 million, the company has 1,300 employees and operates from
three manufacturing plants in the U.S. and from two plants in Europe.
Rick McKinnish, President and Chief Executive Officer of Carlisle, said "The
acquisition of Dayco's Industrial Power Transmission business is an excellent
fit with Carlisle. This consistently profitable business brings a broad product
offering, leadership in niche markets in which Carlisle already participates,
significant aftermarket content and employs manufacturing processes which are
the core of Carlisle's two largest business units."
The transaction is expected to close in the next two weeks. Other terms of the
transaction were not announced.
Carlisle is a diversified manufacturer of products serving construction
materials, industrial components, automotive components and general industry
markets.
CONTACT: Dennis J. Hall
Vice Chairman
Carlisle Companies Incorporated
(315) 474-2500
http://www.carlisle.com
-----------------------