Syratech Names Robert Meers as President and CEO.

Business Editors

BOSTON--(BUSINESS WIRE)--March 8, 2002

Syratech Corporation, a leading provider of giftware products to specialty retailers, department stores and major discount retailers, today announced that it has named Robert Meers, former President and CEO of Reebok International, as President and CEO.

In this position, he will work closely with company founder Leonard Florence, who will remain as Chairman of the Board at the firm, and Alan Kanter, the firm's Senior Vice President of Sales and Marketing.

Mr. Florence said, "After an extensive search for a manager to succeed me as President and CEO, the board selected Bob Meers because of his demonstrated ability to successfully manage a multi-brand, multi-channel strategy that relies heavily on global sourcing of products. As President and CEO of Reebok International, Bob created and implemented a long-term plan that firmly re-established the company's leadership role in product innovation. Over the course of a 15-year career at Reebok, Bob remained intimately involved in global product sourcing, vendor management and retail strategy."

Mr. Florence added, "As a company, Syratech has changed dramatically since I founded it in 1986. We have successfully expanded our business to become a preeminent supplier of silverware and giftware products to our customers, who rely on us to support their growth around the world. Today, I feel that we are well positioned to build upon our heritage and take advantage of growth opportunities as our customers continue to expand."

Mr. Meers said, "Syratech is a dynamic leader in the growing giftware industry. I look forward to building upon the strong franchise brands that Lenny Florence and his team have acquired and cultivated over the years. I hope to continue in the traditions of strong customer relationships and uncompromising integrity that have been the hallmarks of Syratech's steward, Lenny Florence."

Meers came to Reebok in 1984 as Senior Vice President for Sales and Operations, and moved through senior positions at Reebok and its Greg Norman, Rockport and retail divisions. He was President of Reebok Specialty Business Group before serving as President and CEO of Reebok International from 1996 to 1999. Since 1999, Mr. Meers has run his own company, BBM Holding, focusing on specialty retailing and import/export in the food business.

About Syratech(R) Corporation

Founded in 1986, Syratech(R) Corporation (www.syratech.com) designs, manufactures, imports and distributes a variety of tabletop, giftware and seasonal products, including sterling silver, silverplated and stainless steel flatware, sterling silver, silverplated and brass hollowware, seasonal decorative items (including Christmas items and ornaments), glassware, picture frames and photo albums, and porcelain. Giftware items include coffee and tea services, goblets, pitchers, candlesticks and candelabra, cosmetic accessories, glassware and other decorative items.

The company sells its products under many well-established tradenames including Wallace Silversmiths(R), International Silver Company(R), Towle Silversmiths(R), C.J. Vander, Ltd.(R), Rauch Industries, Inc.(R), Rochard(R) and Silvestri(R)