EXHIBIT 12

PRECISION CASTPARTS CORP. AND WYMAN-GORDON COMPANY ANNOUNCE EXTENSION
OF TENDER OFFER FOR WYMAN-GORDON COMPANY COMMON STOCK

PORTLAND, Oregon and GRAFTON, Massachusetts, - September 8, 1999 - Precision
Castparts Corp. (NYSE:PCP) and Wyman-Gordon Company (NYSE:WYG) today announced
that the expiration date of the previously announced $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 has been
extended until midnight, New York City time, on Friday, October 1, 1999;
provided, however, that if the applicable waiting period (and any extension
thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR
Act) in respect of the tender offer is terminated prior to September 17, 1999,
the expiration date of the tender offer will be the date which is ten business
days immediately following public disclosure of the expiration or termination of
the waiting period under the HSR Act.

The extension of the tender offer is intended to provide additional time for
Precision Castparts Corp. to reach an agreement with the Federal Trade
Commission (FTC). The FTC staff has indicated to Precision Castparts Corp. that
it will recommend to the FTC that the proposed acquisition be permitted to
proceed if Precision Castparts Corp. and Wyman-Gordon Company agree to divest
certain Wyman-Gordon Company investment casting operations. The FTC staff would
require that Wyman-Gordon Company reach agreement with one or more buyers to
sell a portion of the assets to be divested prior to Precision Castparts Corp.'s
acquisition of Wyman-Gordon Company. Precision Castparts Corp. and Wyman-Gordon
Company are continuing to negotiate the terms of the proposed divestiture with
the FTC and are seeking potential buyers for the assets that have been
identified for divestiture. There can be no assurance that Precision Castparts
Corp. and Wyman-Gordon Company will find buyers for the assets the FTC staff has
requested to be divested.

As of September 7, 1999, approximately 22,765,000 shares of common stock of
Wyman-Gordon Company had been tendered in the tender offer. This constitutes
approximately 63.5% of Wyman-Gordon Company's outstanding shares as of the
commencement of the tender offer.

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.

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