EXHIBIT 99.1

FOR IMMEDIATE RELEASE

LEXINGTON PRECISION EXTENDS EXCHANGE OFFER

NEW YORK, January 31, 2002 - Lexington Precision Corporation (OTC: LEXP)
announced today that it is extending the expiration date of its offer to
exchange its 12 3/4% Senior Subordinated Notes due February 1, 2000, for
Increasing Rate Senior Subordinated Notes due December 31, 2004. The offer,
which was scheduled to expire at 5:00 p.m., New York City time, on January 31,
2002, is now scheduled to expire at 5:00 p.m., New York City time, on February
28, 2002, unless further extended.

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

Contact:  Warren Delano (212) 319-4657