BNS Co. Reports Results, Including First Sales of XactMeasure Software.

Business Editors

WARWICK, R.I.--(BUSINESS WIRE)-- April 1, 2002

In a Form 10-K filing today, BNS Co. (BSE/OTCBB: BNSXA) reported a net loss from continuing operations for the fourth quarter of 2001 of $1.4 million ($.48 per share) on sales of $91 thousand. The sales reflect the first commercial shipments of XactMeasure software by the Company's subsidiary, Xygent Inc.

For the full year 2001, the Company reported net income of $21.2 million ($7.38 per share), principally as a result of the gain on the sale of its Metrology Business to Hexagon AB in the second quarter of 2001. SEC filings are available on the Company's web site, www.bnsco.com. Requests for a paper copy of the Form 10-K should be directed to the Secretary, BNS Co., 275 West Natick Road, Warwick, RI 02886.

        BNS Co. (FORMERLY BROWN & SHARPE MANUFACTURING COMPANY)
                  SUMMARY STATEMENT OF INCOME (LOSS)
             (Dollars in Thousands Except Per Share Data)

                          For the Quarter Ended  For the Year Ended
                                Dec. 31,                Dec. 31,
                             2001       2000        2001       2000

Sales                     $     91  $    --      $     91   $   --
Gross Profit                  (253)      --          (253)      --
Income (loss)
 from continuing
 operations                 (1,414)    (1,647)    (12,422)   (19,913)
Income (loss)
 from discontinued
 operations, net
 of income taxes              (556)     5,267      40,158    (37,396)
Extraordinary item -
 extinguishment of debt       --         --        (6,566)      --
Net income (loss)         $ (1,970) $   3,620    $ 21,170   $(57,309)

Net income (loss)
 from continuing
 operations per
 share basic and
 diluted                  $  (0.48) $   (0.60)   $  (4.33)  $  (7.26)
Discontinued
 operations                  (0.19)      1.91       14.00     (13.62)
Extraordinary item            --        --          (2.29)      --
Net income (loss)
 per common share
 basic and
 diluted                  $  (0.67) $    1.31    $   7.38   $ (20.88)




        BNS Co. (FORMERLY BROWN & SHARPE MANUFACTURING COMPANY)

                      CONSOLIDATED BALANCE SHEETS

                      December 31, 2000 and 2001
               (dollars in thousands, except share data)

                                               2001         2000
           ASSETS
Current assets
 Cash and cash equivalents                 $  10,095    $   8,882
 Other receivables, net of $826
  allowance in 2001                            1,272          313
 Assets held for sale                          2,363        2,863
 Assets related to discontinued operations       274      231,367
 Prepaid expenses and other current assets       385        1,919
    Total current assets                      14,389      245,344
Property, plant and equipment
 Land                                            415          415
 Buildings and improvements                      105         --
 Machinery and equipment                       1,244          672
                                           ---------    ---------
                                               1,764        1,087
 Less accumulated depreciation                   420          255
                                           ---------    ---------
                                               1,344          832
 Other assets                                  3,550        4,469
                                           $  19,283    $ 250,645


       LIABILITIES AND SHAREOWNERS' EQUITY
Current liabilities
 Notes payable to banks                    $    --      $  27,400
 Accounts payable and accrued expenses         7,141        7,953
 Current portion of long-term debt             3,317       54,200
 Liabilities related to discontinued
  operations                                    --        142,879
    Total current liabilities                 10,458      232,432
Long-term liabilities                          3,676        7,070
Commitments and contingencies                   --           --
Shareowners' equity
 Preferred stock; $1 par value;
   authorized 1,000,000 shares;
   none issued                                  --           --
 Common stock
 Class A, par value, $.01;
  authorized 30,000,000 shares;
  issued shares 2,861,240 in 2001
  and 2,665,755 in 2000                           29           27
 Class B, par value, $.01;
  authorized 2,000,000 shares;
  issued shares 64,007 in 2001
  and 100,341 in 2000                              1            1
 Additional paid-in capital                   85,950      127,276
 Retained deficit                            (80,373)    (101,543)
 Accumulated other comprehensive loss             (3)     (14,163)
 Treasury stock; 8,518 shares in 2001
   and 2000, at cost                            (455)        (455)
       Total shareowners' equity               5,149       11,143
                                           ---------    ---------
                                           $  19,283    $ 250,645