Exhibit (20)(iv)


                                        Contact: Tony Herrling
                                        Corporate Communications
                                        The Stanley Works
                                        1-800-300-4679

The Stanley Works Annouces Closure of Plant in Georgetown, OH 

New Britain, CT, July 17, 1997  -- The Stanley Works (NYSE:SWK)
confirmed that it has decided to close its manufacturing facility
in Georgetown, Ohio where its Mechanics Tools division employs
175 people.  

Company spokesperson Gerry Gould said, "We are currently
reviewing whether it makes the most economic sense for certain
manufacturing operations to continue production, or rather to
combine these operations into existing Stanley facilities and
outsource product where it makes sense to do so.  In the case of
this Stanley Mechanics Tool facility, we believe that we can
optimize both Stanley's overall focus on its core competencies
and economic efficiencies by transferring production to our
facilities in Allentown, PA and Kannapolis, NC." 

The Stanley Works recently announced plans to reorganize into
eight distinct Product Groups.  The reorganization will divide
the functions of product development, resource allocation and
growth responsibilities along product lines, while marketing
efforts, as well as sales and customer services, will be combined
into one corporate division.

"We must continue to focus on building the Stanley brand, 
continued Mr. Gould.   Our goal is to ensure that our customers,
employees and shareholders are getting the greatest value from
our investments in The Stanley Works."

The Stanley Works is a leading manufacturer of tools and hardware
for the professional and consumer markets, and is headquartered
in New Britain, Connecticut.  The Stanley Works operates over 100
facilities and employs 19,000 people worldwide.

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