Exhibit 14

PRECISION CASTPARTS CORP. AND WYMAN-GORDON COMPANY ANNOUNCE EXECUTION OF
AGREEMENT CONTAINING CONSENT ORDERS WITH THE FEDERAL TRADE COMMISSION STAFF

     PORTLAND, Oregon and NORTH GRAFTON, Massachusetts - October 26, 1999 -
Precision Castparts Corp. (NYSE:PCP) and Wyman-Gordon Company (NYSE:WYG) today
announced that they have executed an Agreement Containing Consent Orders with
the staff of the Federal Trade Commission (FTC). The Agreement Containing
Consent Orders will be submitted to the FTC for its approval with the
recommendation of the FTC staff. There can be no assurances that the FTC will
approve the Agreement Containing Consent Orders or as to the timing of any such
approval.

     As previously announced, the FTC staff indicated to Precision Castparts
Corp. that it would recommend to the FTC that the $20.00 per share cash tender
offer by Precision Castparts Corp.'s subsidiary, WGC Acquisition Corp., for all
outstanding shares of common stock of Wyman-Gordon Company be permitted to
proceed if Precision Castparts Corp. and Wyman-Gordon Company agreed to divest
certain Wyman-Gordon Company investment castings operations. The Agreement
Containing Consent Orders, if approved by the FTC, would require the divestiture
of Wyman-Gordon's large cast parts operations located in Groton, Connecticut and
its titanium castings operations located in Albany, Oregon.

     Wyman-Gordon Company's subsidiary, Wyman-Gordon Investment Castings, Inc.,
has reached an agreement with a buyer pursuant to which the buyer will acquire
Wyman-Gordon's large cast parts operations located in Groton, Connecticut. The
terms of this divestiture have been approved by the FTC staff. The divestiture
is subject to the approval of the FTC, the consummation of the proposed
acquisition of Wyman-Gordon Company by Precision Castparts Corp., and other
customary closing conditions. FTC approval of the Agreement Containing Consent
Orders would allow the tender offer to proceed prior to divestiture of the
Albany, Oregon titanium castings facility with that facility being held
separately until a potential buyer acceptable to the FTC is found.

            Precision Castparts Corp. is a worldwide manufacturer of complex
metal components and products.

            Wyman-Gordon Company is a leader in forgings, investment castings
and composite structures.

     This press release contains forward-looking statements based on current
expectations that are covered under the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results and events related to
the transaction may differ from those anticipated.

Contacts:   Dwight Weber, Precision Castparts Corp. - 503-417-4855
            Denis Poirier, Wyman-Gordon Company - 508-839-8224