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PICO PRODUCTS, INC.
12500 Foothill Blvd.
Lakeview Terrace, CA  91342
(800) 421-6511
FAX (818) 899-1381

                                                        CONTACT:
                                                        Joseph T. (Ted) Kingsley
FOR IMMEDIATE RELEASE                                   (800) 421-6511


              PICO PRODUCTS COMPLETES $6 MILLION PRIVATE PLACEMENT


Lakeview Terrace, California -- November 21, 1996:  Pico Products, Inc. (Amex
"PPI") announced today the completion of a private placement totaling $6 million
with two institutional investors.  The private placement includes $5 million of
seven-year 12 percent subordinated debentures with Allied Capital Corporation of
Washington, D.C. and $1 million of 12 percent redeemable preferred stock with
The Sinkler Corporation of Philadelphia, Pennsylvania.

The new capital will be used to finance growth in the U.S., Brazil, and Asia, to
develop new products and to acquire new technologies in the telecommunications
market.  The new capital will also be used to expand trap manufacturing
facilities in St. Kitts and to expand engineering facilities in California.

As part of the financing, Allied Capital received warrants to purchase 779,313
shares of the Company's common stock and The Sinkler Corporation received
warrants to purchase 155,863 shares of the Company's common stock.  The warrants
are exercisable at a price of $1.81 per share, the average closing price of the
Company stock for the 30 trading days prior to November 21, 1996.

Pico Products, Inc. manufactures and distributes broadband electronic systems
and components for the world-wide cable television and telecommunications
industry.  The Company has facilities in Lakeview Terrace, California; Syracuse,
New York; St. Kitts; Taiwan; Hong Kong; Bangkok, Thailand, and Sao Paulo,
Brazil.