The Eastern Company Purchases 35,000 Shares of Its Common Stock


NAUGATUCK, Conn.--(BUSINESS WIRE)--Aug. 31, 1998--The Eastern Company (AMEX:EML) announced today that it has purchased 35,000 shares of its own common stock on the open market. This action is consistent with the Company's long-standing policy of, from time-to-time, purchasing its own shares for Treasury purposes, as market conditions warrant. With this purchase, Eastern has bought a total of 215,555 shares of its own common stock since the beginning of 1998.

The Eastern Company manufactures and markets a broad range of locks, latches, fasteners and other security hardware that meets the diverse security and safety needs of industrial and commercial customers. Headquartered in Naugatuck, Conn., the Company has seven operating locations in the U.S.A., Canada, Mexico and the Pacific Rim. It has paid consecutive quarterly dividends since 1940.

        CONTACT: The Eastern Company
        John Dibble, 203/729-2255, ext. 241