NAUGATUCK, Conn.--(BUSINESS WIRE)--July 18, 2005--The Eastern
Company (AMEX:EML) today announced that its Board of Directors
accepted the recommendation of its Audit Committee to replace its
Independent Registered Public Accounting Firm, Ernst & Young LLP, with
UHY LLP to audit the Company's financial statements for the fiscal
year ending December 31, 2005. The change in the Company's Independent
Registered Public Accounting Firm was effective July 14, 2005.
The Company has had a long and good standing relationship with
Ernst & Young LLP. However because of the escalating audit and other
compliance fees the Board of Directors has accepted the Audit
Committee's recommendation to appoint UHY LLP.
The Eastern Company is a 147-year-old manufacturer of industrial
hardware, security products and metal castings. It operates from nine
locations in the U.S., Canada, Mexico, Taiwan and China. The diversity
of the Company's products helps it to respond to the changing
requirements of a broad array of markets.
Forward-Looking Statements: Information in this news release
contains statements which reflect the Company's current expectations
regarding its future operating performance and achievements. Actual
results may differ due to the many economic uncertainties that affect
the Company's business environment. Further information about the
potential factors which could affect the Company's financial results
are included in the Company's reports and filings with the Securities
and Exchange Commission. The Company is not obligated to update or
revise the aforementioned statements for those new developments.
CONTACT: The Eastern Company
Leonard F. Leganza or John L. Sullivan III, 203-729-2255
SOURCE: The Eastern Company