The Eastern Company Announces Change in Independent Registered Public Accounting Firm

7/18/2005 5:13:00 PM

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