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TRANSTECHNOLOGY BOARD ELECTION TO BE CONTESTED

 TRANSTECHNOLOGY BOARD ELECTION TO BE CONTESTED
 CLEVELAND, Sept. 2 /PRNewswire/ -- Michael J. Berthelot, holder of


5.6 percent of TransTechnology Corporation's (NYSE: TT) common stock and, until Aug. 13, 1992, its vice chairman of the board and acting president and chief executive officer, stated that he had, on Sept. 1, filed a definitive proxy statement with the Securities and Exchange Commission setting forth a slate of directors to be offered in opposition to that nominated by the company at its annual meeting of shareholders scheduled for Sept. 23, 1992.
 Berthelot stated that he was undertaking this action because, "I am concerned that the remaining portions of the restructuring plan which I was instrumental in developing and implementing over the past year may not be completed by the proposed board. With the withdrawal of Walter Belleville from the company's nominees, the slate of directors nominated by the company is now composed entirely of individuals who served as officers and/or directors of the company as its stock price dropped from over $19 to $5 per share over the past three and one half years. Three of the eight directors proposed by the company are officers, directors, and/or shareholders of Research Industries, Inc., the company's largest shareholder and a private investment company owned 95 percent by Dr. Arch Scurlock.
 "Five of the eight candidates and/or their affiliated corporations receive fees from the company aggregating almost $1 million annually. I do not believe that the collective stewardship of this group of individuals has adequately protected the investment of the shareholders of the company. I believe that a new slate of directors, bringing fresh vision, perspective and ideas to the company will continue the progress we have made over the past year. Our stock price has increase 120 percent over its 52-week low and our debt has been reduced by more than $39 million since the start of the restructuring program last September. The company has returned to solid profitability. We are poised to grow and further enhance shareholder value. This contest will be a difficult, uphill fight against an entrenched group of directors who have run this company unchallenged for 23 years. The involvement of every shareholder, no matter how few or how many shares they hold, will be critical to our success."
 Berthelot's slate of directors includes himself, current TransTechnology directors Richard Mascuch and Walter Belleville; TransTechnology's group vice president and member of the three-person "Office of the President" Patrick K. Bolger; attorney Thomas V. Chema of Cleveland; businessman George Hofmeister of Salem, Ohio and H. Gary Carlson, Ph.D., of Newport Beach, Calif.; and consultant James H. Lawrence of Boston, who is also a member of the board of directors of the parent company of Continental Airlines.
 Berthelot "is very excited to be able to put forth a slate of such accomplished individuals to represent the shareholders in the management of our company. Each of these gentlemen has independently established themselves in a number of diverse fields including business, law, finance and government. Their knowledge, skills, reputation for fair play and sense of duty will serve our company well."
 Berthelot sees this election of directors as a crossroads for the company. "The real issue," he said, "is whether the shareholders of this company want change and progress, or whether they want more of what they have had over the years preceding the changes we championed this past year."
 TransTechnology Corporation is a diversified manufacturer of industrial and aerospace products headquartered in Union, N.J. The shareholders' meeting is scheduled for 2 p.m. Sept. 23 at the Ground Floor Auditorium, one Chase Plaza, New York City. The record date for voting at the meeting was July 26, 1992.
 -0- 9/2/92
 /CONTACT: Michael J. Berthelot of Canterbury Holdings Corporation, 216-528-0163, 216-656-3812 or fax, 216-656-0415/
 (TT) CO: Canterbury Holdings Corporation; TransTechnology Corporation ST: Ohio, New Jersey IN: ARO SU:


KK -- CL002 -- 5776 09/02/92 09:06 EDT
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Date:Sep 2, 1992
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