A.T. Cross Company Announces New Stock Repurchase Plan; Previously Authorized Plan is Completed; Board of Directors Approve New Program.

Business Editors

LINCOLN, R.I.--(BUSINESS WIRE)--Oct. 23, 2002

A.T. Cross Company (AMEX-ATX) today announced that it has completed the repurchase of 1.5 million shares of the Company's Class A common stock in accordance with a plan approved by the Board of Directors on April 26, 2001. The average price per share was $6.78.

In addition, the Company's Board of Directors authorized a new plan to repurchase up to an additional 10% of the outstanding Class A common stock. The Company plans to purchase approximately 1.4 million shares of stock on the open market, subject to regulatory considerations, from time to time depending on market conditions. There is no assurance as to the actual number of shares that will be repurchased under the program and purchases can be suspended at any time.

David G. Whalen, President and Chief Executive Officer, commented, "The completion of our earlier repurchase plan supports our belief that our shares represent an attractive investment opportunity. In addition, the Board's decision to continue with a new repurchase plan reflects their confidence in the Company, including its competitive position in the industry and future growth potential."

Any repurchased shares will be held as treasury stock and will be available for general corporate purposes including but not limited to employee benefit plans, strategic acquisitions and alliances. As of October 23, 2002, the Company had 13.8 million Class A shares outstanding.

A.T. Cross Company is a leading designer, manufacturer and marketer of fine writing instruments with distribution in major markets around the world. The Company also designs and markets timepieces and manufactures pen computing products.

Statements contained in this release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (including statements relating to strategic acquisitions and other strategic relationships and the benefit of investing in Cross stock as an investment opportunity). In addition, words such as "believes," "anticipates," "expects," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, including but not limited to the achievement of the Company's strategic and financial objectives, and are not guarantees since there are inherent difficulties in predicting future results. Actual results could differ materially from those expressed or implied in the forward-looking statements. The information contained in this document is as of October 23, 2002. The Company assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments. Additional discussion of factors that could cause actual results to differ materially from management's expectations is contained in the Company's filings under the Securities Exchange Act of 1934.