BNS Co. Extends Review Period for Sale of North Kingstown Real Estate.

Business Editors

WARWICK, R.I.--(BUSINESS WIRE)--Oct. 3, 2001

BNS Co. (NYSE:BNS) announced today that it has agreed to a further extension until November 30, 2001 of the due diligence review period afforded to Precision Park Partners LLC, as the Buyer, under their Purchase and Sale Agreement for the sale of the Company's real estate situated in North Kingstown, Rhode Island.

The extension is necessary to enable examination of the results by the Buyer of the recently completed environmental study of the property. The results of the study show some exceedances of environmental standards for certain contaminants in the soil under the property and, to an even lesser extent, to the groundwater. BNS Co. has been advised by its technical consultants that these exceedances and groundwater issues are minor. BNS Co. submitted the results of the study to the Rhode Island Department of Environmental Management on October 2, 2001 and has stated to the Department that it will address these exceedances in a timely and appropriate manner consistent with applicable law and regulation.

This report contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of assumptions, risks, and uncertainties that could cause actual results of the Company to differ materially from those matters expressed in or implied by such forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which are in some cases beyond the control of the Company and may cause the actual results, performance, or achievements of the Company to differ materially from anticipated future results, performance, or achievements expressed or implied by such forward-looking statements. Additional information regarding this and other risk factors and uncertainties is detailed from time to time in the Company's SEC filings.