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OAK INDUSTRIES' SHAREHOLDERS APPROVE REVERSE STOCK SPILT

 WALTHAM, Mass., May 6 /PRNewswire/ -- Oak Industries Inc., (NYSE: OAK), at its annual meeting today announced that its shareholders overwhelmingly approved a one-for-five reverse stock split. In addition, shareholders approved, after giving effect to the reverse split, the reduction in par value of the company's Common Stock from 5 cents to 1 cent and the increase of the total number of authorized shares of Common Stock from 27 million to 50 million shares. Oak expects that the reverse split will become effective after the close of business on May 13, 1993.
 "The reverse stock split is an important component of our long-term plan for continued growth at Oak. This action should make our stock more attractive to other institutional investors thereby allowing us to access this segment of the capital markets. We are convinced that our ability to maintain our growth momentum may eventually require that we seek additional funding in these markets," said William S. Antle III, president and chief executive officer.
 In another matter, Antle commented at the annual meeting, "We had a very strong first quarter, and are optimistic about the remainder of this year. Our new-product pipeline is generating results; relationships with key customers are growing; our new low-cost facilities are ramping up production; and we will realize the full benefits from the acquisitions of H.E.S. International, Gilbert Engineering and Spectrum Technology. In addition, our balance sheet remains strong to support our acquisitions strategy."
 Oak Industries Inc., is a provider of components and controls for leading manufacturers in a range of industries, including cable television, consumer appliances, test and measurement equipment, military, telecommunications and transportation. The company is pursuing a strategy for growth through new-product introductions, ongoing productivity enhancements and acquisitions.
 -0- 5/6/93
 /CONTACT: William C. Weaver, chief financial officer of Oak Industries, Inc., 617-890-0400; or Jean M. Devine, account executive of Sharon Merrill Associates, Inc., 617-262-1800 for Oak Industries/
 (OAK)


CO: Oak Industries, Inc. ST: Massachusetts IN: SU:

DD -- NE020 -- 5646 05/06/93 16:34 EDT
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Publication:PR Newswire
Date:May 6, 1993
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