American Safety Razor Acquires Bond - America Israel Blades, Ltd. and its U.S. Subsidiary, A. I. Blades, Inc.

VERONA, Va.--(BUSINESS WIRE)--March 29, 1996--American Safety Razor Company (NASDAQ:RAZR) ("ASR") announced today that it has acquired certain assets, net of assumed liabilities, of Bond - America Israel Blades, Ltd., and its wholly-owned U.S. subsidiary, A.I. Blades, Inc. (together "Bond"). Bond distributes private- label and value-brand shaving razors and blades throughout the world from its manufacturing facility located in Nazareth Illit, Israel. The acquisition involves total consideration of approximately $17.2 million, including acquisition related expenses. The sellers may also receive up to $4.0 million in additional earn-out payments over the next four years, such amount to be determined on the basis of Bond's operating performance during 1996. The acquisition will be accounted for as a purchase transaction and will be financed with borrowings under the Company's multicurrency revolving credit agreement, a short term sellers' note and internally generated funds.

Mr. William Weathersby, ASR's President and Chief Operating Officer, stated, "Strategically, the acquisition of Bond expands ASR's already significant presence in the private-brand arena for shaving razors and blades both internationally and domestically. Because two-thirds of Bond's sales are outside of the United States, we believe this acquisition strongly supports the Company's efforts to continue its historical rate of growth in international markets, which has exceeded 15% annually during the last 10 years."

For the year ended December 31, 1995, Bond's net sales approximated $17.7 million. The acquisition is expected to have a nominal impact on ASR's reported earnings in 1996.

For 1995, ASR recorded net sales of $230.5 million, $97.1 million of which was from shaving blades and razors, both value brand and private label. Excluding the effects of an extraordinary non-cash charge and one-time event, operating income was $29.6 million, up 10.6%, and net income was $0.95 per share.

American Safety Razor Company is the leading manufacturer of private-brand and value-priced shaving blades and razors in the United States. The Company's shaving blade and razor products are sold under retailers' private-brand names as well as American Safety Razor's own value-priced brands of Personna(R), Gem(R), Flicker(R), Legmate(R), Bump Fighter(R), Treet(R), GEM Blue Star(R), Pal(R), and MBC(TM). The Company also manufactures cotton swabs, cotton balls and puffs, and foot care items, which are sold under retailers' private-brand names as well as its own value-priced brands Megas(R), ACCO(R), and Crystal(R). The Company is also a leading manufacturer of premium and value-priced blades and bladed hand tools, sold primarily under the Personna(R), American Line, and Ardell brand names, as well as bar soaps for the cosmetic/skin care, pharmaceutical, and department store markets. In addition to its consumer products, American Safety Razor manufactures and markets specialty industrial and medical blades.

CONTACT: SM Berger & Company

Stan Berger, 216/464-6400