Exhibit 99.1


                         Lexington Precision Corporation
                                767 Third Avenue
                               New York, NY 10017


FOR IMMEDIATE RELEASE

LEXINGTON PRECISION EXTENDS EXCHANGE OFFER

NEW YORK, January 10, 2003 - Lexington Precision Corporation (OTC: LEXP)
announced today that it is extending the expiration date of its offer to
exchange for its 12 3/4% Senior Subordinated Notes due February 1, 2000, units
consisting of 11 1/2% Senior Subordinated Notes due August 1, 2007, and warrants
to purchase common stock. The offer, which was scheduled to expire at 12
midnight, New York City Time, on January 10, 2003, is now scheduled to expire at
12 midnight, New York City Time, on January 31, 2003, unless further extended.

As of January 10, 2003, the company had received tenders of 12 3/4% Senior
Subordinated Notes in the principal amount of $27,209,125, or approximately
99.3% of the notes, which, if not withdrawn, will satisfy one of the conditions
precedent to the consummation of the exchange offer. There are a number of other
conditions precedent that have not yet been satisfied, including the completion
of a new senior secured credit facility on terms satisfactory to the company.

Lexington Precision Corporation manufactures rubber and metal components that
are used primarily by manufacturers of automobiles, automotive replacement
parts, and medical devices.

Contact:  Warren Delano (212) 319-4657