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QUALITY PRODUCTS, INC. RECEIVES BENEFITS FROM NEW APPOINTMENTS

 QUALITY PRODUCTS, INC. RECEIVES BENEFITS FROM NEW APPOINTMENTS
 TAMPA, Fla., Aug. 18 /PRNewswire/ -- Quality Products, Inc. (NASDAQ: QYPI) announced today the appointment of James S. Renaldo to the position of president, and Stephen A. Springer to the position of director of the company's Multipress Division.
 Renaldo was retained as counsel to the corporation in October, 1991. Prior to joining the company, Renaldo worked in the lending and commercial loan workout and litigation divisions of several large financial institutions. Renaldo also served as president of a full service property management and development company located in Houston. Renaldo is a member of the New York State Bar Association, the Florida State Bar Association, the Hillsborough County Bar Association, the American Bar Association, and the Professional Responsibility Committee of the ABA Real Property Division.
 Springer joined the corporation in May, 1990 and served as controller for both Quality Products, Inc. and the Multipress Division until his appointment as vice president of finance and corporate secretary in May 1991. Prior to joining the company, Springer worked in public accounting for the international accounting firm of Ernst & Young as a senior accountant. Springer is a certified public accountant with substantial experience working with


manufacturing concerns and SEC regulated companies.
 The company further announces the immediate cancellation of 75,000 Class B Preferred Shares. The shares were originally issued to a former officer of the corporation in exchange for contingent personal guarantees on the company's capital lines of credit. Alternative sources of credit have now been identified by the company at more competitive rates, and without the requirement of personal guarantees. The cancellation represents a reduction of 1,500,000, or 25.45 percent of the issued and outstanding common shares of the company's stock fully diluted. The cancellation is the result of the enforcement of forfeiture provisions included at the time of issuance.
 -0- 8/18/92
 /CONTACT: Steve Springer of Quality Products, Inc., 813-963-1300/
 (QYPI) CO: Quality Products, Inc. ST: Florida IN: MNG SU: PER


BM -- CL007 -- 0877 08/18/92 10:29 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
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