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SL INDUSTRIES CEO RECOMMENDS SHAREHOLDERS SUPPORT DIRECTORS RESPONSIBLE FOR TURNAROUND; URGES REJECTION OF DISSIDENT GROUP'S BID FOR CONTROL

SL INDUSTRIES CEO RECOMMENDS SHAREHOLDERS SUPPORT DIRECTORS RESPONSIBLE FOR TURNAROUND; URGES REJECTION OF DISSIDENT GROUP'S BID FOR CONTROL
 MT. LAUREL, N.J., Oct. 21 /PRNewswire/ -- SL Industries, Inc. (NYSE-PHLX: SL) announced today that it has mailed to shareholders a letter form Chief Executive Owen Farren recommending support of the management directors responsible for the company's turnaround and urging rejection of a dissident shareholder group's bid for control of the SL Board.
 The dissident group is led by Wilmer J. Thomas, Jr. and Martin L. Solomon, who are referred to in Mr. Farren's letter as "two Florida- based, self-described investors and financial consultants." Mr. Farren states, "Your Board has serious concerns about (their) intentions and backgrounds."
 Mr. Farren's letter sharply criticizes the Thomas-Solomon Group members as "reminiscent of the corporate raiders spawned during the "Decade of Greed" of the 1980s, with business histories "replete with stories of forcibly taking over other companies, proxy fights (and) working with firms that participate in leveraged buyouts."
 The letter describes how Mr. Thomas approached SL's chairman in 1990 with a request to purchase his SL shares at $8.00 per share- a 45 percent premium over the price at which SL shares were then trading. Mr. Farren writes, "We think this was a thinly-veiled attempt at greenmail." The SL board rejected the request.
 Mr. Farren recommends that shareholders continue to support SL's management nominees, detailing the past year's successful turnaround of the company, including, among other achievements, the implementation of a new business plan, a return to profitability, the introduction of 50 new products and the strengthening of the company's cash flow. Mr. Farren emphasized, "It is not the time to turn SL over to an unknown group of corporate raiders."
 SL Industries, Inc. is composed of operating subsidiaries which design, manufacture and distribute engineered products. Together, they serve two business segments: Electrical/electro-mechanical and Specialty Products. These subsidiaries, located throughout North America, possess product development, manufacturing and marketing capabilities and occupy niche positions within growth markets.
 -0- 10/21/92
 /NOTE TO EDITORS: For a complete copy of Mr. Farren's shareholder letter, please call MacKenzie Partners, Inc. at 800-322-2885, or SL Industries collect at, 609-727-1500 and ask for shareholder relations.
 As previously announced, SL Industries has seven seats up for election at its 1992 annual meeting, scheduled for Nov. 20. Under cumulative voting rules which apply to the election of directors, a nominee will need at least 12.5 percent of the total number of shares voted to be elected./
 /CONTACT: Owen Farren of SL Industries, 609-727-1500, or Stanley J. Kay of MacKenzie Partners, Inc., 212-929-5940, for SL Industries/
 (SL) CO: SL Industries ST: New Jersey IN: CPR SU:


LD-AH -- NY133 -- 3216 10/21/92 19:14 EDT
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Date:Oct 21, 1992
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