EXHIBIT 99.1
SL INDUSTRIES RECEIVES DEFAULT NOTICE
MT. LAUREL, NEW JERSEY, March 8, 2002 . . . SL INDUSTRIES, INC. (NYSE &
PHLX:SL) announced that it has received a notice of default from its lenders.
The notice states that the Company has defaulted under its revolving credit
facility due to the Company's failure to meet the scheduled debt reduction to
$25,500,000. The Company's outstanding debt under the revolving credit facility
was approximately $26.2 million as of March 6, 2002.
The Company is currently in discussions with its lenders in an attempt to extend
the period for the scheduled debt reduction and to resolve other issues. As
these discussions are still ongoing, there can be no assurance that the parties
will be able to extend the scheduled debt reduction or that the Company will
otherwise obtain a waiver of the default from its lenders.
SL Industries, Inc. designs, manufactures and markets Power and Data
Quality (PDQ) equipment and systems for industrial, medical, aerospace,
telecommunications and consumer applications. For more information about SL
Industries, Inc. and its products, please visit the Company's website at
www.slpdq.com.
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