Pet Products announces resignation of Stuart Greenberg as chief executive officer and director.

YONKERS, N.Y.--(BUSINESS WIRE)--Nov. 10, 1994--David Greenberg, president of Pet Products Inc., a manufacturer and distributor of beef-rawhide products for pets, announced today that Stuart Greenberg has resigned as the chief executive officer, chairman of the board and as a director of the company to pursue other business interests.

David Greenberg will assume Stuart Greenberg's responsibilities.

Stuart Greenberg has agreed not to compete with the company in the manufacture and sale of beef-rawhide products for a 30 month period and to maintain the confidentiality of the company's trade secrets. He has advised the company that he intends to develop and market a new and different pet treat product. To make that product, Stuart Greenberg has entered into an agreement to purchase from the company for $550,000, payable over time, a processing machine and the know-how and technology related to it. In addition, Stuart Greenberg has agreed to buy from the company, at market prices, over a five-year period, certain by-products from the company's Brazilian plant.

For the fiscal year ended April 30, 1994, Pet Products reported net sales of $10,075,132 and earnings of $454,413, or $.15 per share, compared with sales of $8,198,349 and earnings of $238,119, or $.08 per share, for the previous year. Results for the fiscal first quarter ended July 31, 1994 were net sales of $3,262,021, and earnings of $85,879, or $.03 per share, compared with $1,749,023 and $82,119, or $.03 per share, respectively, for the prior year period.

Pet Products Inc. manufactures and markets a variety of beef-rawhide dog treats under its own brand names CURLS(R), PET-PRO BONES, DOG'S BEST(R), BAKER'S RAWHIDE(R), PRIME BEEF and BEEF RAWHIDE as well as under private label and in bulk. The company's products are designed, developed and manufactured by it at its facilities in Brazil and packaged at its facilities in Yonkers and Cortlandt Manor, N.Y.

The company's common shares are currently trading on the NASDAQ system under the symbol PETS and its redeemable warrants carry the symbol PETSW. The company's shares also trade on the Boston Stock Exchange under the symbol PTP and the redeemable warrants under the symbol PTPW, as well as on the Pacific Stock Exchange under the symbol PTP for the common shares and PTPSW for the redeemable warrants.

CONTACT: Pet Products Inc., Yonkers

              Paul A. Perlin, 914/969-3048
                        OR
              Como & Associates, New York
              Ron Como, 212/227-3010