PRESS RELEASE

             SCOTT'S LIQUID GOLD-INC. ADOPTS SHAREHOLDER RIGHTS PLAN

     DENVER, CO - February 22, 2001 - Scott's Liquid Gold-Inc. (OTCBB: SLGD)
announced that its Board of Directors has adopted a shareholder rights plan for
its common stock. The Company stated that the rights plan is designed to assure
that the Company's shareholders receive fair and equitable treatment in the
event of an unsolicited attempt to acquire the company. One right will be issued
for each share of common stock issued and outstanding on March 2, 2001 and for
each share of common stock that is issued or sold after that date and prior to
the "Distribution Date."

     The Distribution Date means generally a date which is ten days after a
person becomes an "Acquiring Person" or the commencement of a tender offer that
would make a person a beneficial owner of 15% or more of the Company's common
stock. An Acquiring Person means a person or group owning beneficially 15% or
more of the outstanding shares of common stock. Mark E. Goldstein, Chairman of
the Board, Chief Executive Officer and President of the Company, who currently
owns beneficially more than 15% of the Company's outstanding common stock,
together with his affiliates, and certain of their transferees are not, and will
not be, Acquiring Persons under the rights plan. The Company's subsidiaries and
employee benefits plans are also not and will not be, Acquiring Persons.

     Each right entitles shareholders to buy one share of Scott's Liquid
Gold-Inc. common stock at an exercise price of $8.00 per share, subject to
adjustments; however, the rights are not exercisable until the Distribution
Date. The rights will expire on February 21, 2011 or upon earlier redemption of
the rights. No separate certificates representing the rights will be issued
unless and until a Distribution Date occurs. If any person becomes an Acquiring
Person, or certain other events relating to an Acquired Person occur, the right
will entitle each holder to receive shares of common stock (or, in certain
instances, cash, property or other securities) having a market value of two
times the exercise price of the right. Also, after a triggering event, if the
Company is acquired in a merger or other business combination or if certain
assets are sold, the holder of a right may exercise the right to receive common
stock of the acquiring company with a market value two times the exercise price
of the right. The rights are subject to certain anti-dilution adjustments, for
example, adjustments for stock splits.

     The Board of Directors may redeem the rights at a redemption price of $.01
per right at any time prior to the earlier of the separation of the rights from
underlying common stock after a triggering event or the expiration date of the
rights on February 21, 2011. The Board may freely amend the rights without
approval of the holders of the rights until the rights become exercisable, and
thereafter to a more limited extent. Distribution of the rights is not a taxable
event to shareholders. Additional details regarding the shareholder rights plan
will be outlined in a letter that will be mailed to shareholders.

     Scott's Liquid Gold stated that the rights plan was not adopted in response
to any outside effort to gain control of the company, and that it is not aware
of any takeover attempt.


     Scott's Liquid Gold-Inc. develops, manufactures and markets high quality
household and consumer products, including Scott's Liquid Gold wood
cleaners/preservatives, Touch of Scent air fresheners, Alpha Hydrox skin care
products, and Neoteric Diabetic Skin Care products. The Company is headquartered
in Denver, Colorado, and its common stock trades on the OTC Bulletin Board under
the symbol "SLGD".

     Additional information on Scott's Liquid Gold-Inc. and its products can be
accessed on the World Wide Web: www.scottsliquidgold.com, www.alphahydrox.com,
www.touchofscent.com, and www.neotericdiabetic.com.

     THIS PRESS RELEASE MAY CONTAIN "FORWARD-LOOKING" STATEMENTS WITHIN THE
MEANING OF U.S. FEDERAL SECURITIES LAWS. THESE STATEMENTS ARE MADE PURSUANT TO
THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995. FORWARD-LOOKING STATEMENTS AND THE COMPANY'S PERFORMANCE INHERENTLY
INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER FROM
SUCH FORWARD-LOOKING STATEMENTS. FACTORS THAT WOULD CAUSE OR CONTRIBUTE TO SUCH
DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO, CONTINUED ACCEPTANCE OF THE
COMPANY'S PRODUCTS IN THE MARKETPLACE; ACCEPTANCE IN THE MARKETPLACE OF THE
COMPANY'S NEW PRODUCT LINES; COMPETITIVE FACTORS; THE NEED FOR EFFECTIVE
ADVERTISING OF THE COMPANY'S PRODUCTS; LIMITED RESOURCES AVAILABLE FOR SUCH
ADVERTISING; NEW PRODUCT INTRODUCTIONS BY OTHERS; TECHNOLOGICAL CHANGES;
DEPENDENCE UPON THIRD-PARTY VENDORS AND UPON SALES TO MAJOR CUSTOMERS; CHANGES
IN THE REGULATION OF THE COMPANY'S PRODUCTS, INCLUDING APPLICABLE ENVIRONMENTAL
REGULATIONS; ADVERSE DEVELOPMENTS IN PENDING LITIGATION; THE LOSS OF ANY
EXECUTIVE OFFICER; AND OTHER RISKS DISCUSSED IN THIS RELEASE AND IN THE
COMPANY'S PERIODIC REPORT FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
BY MAKING THESE FORWARD-LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION
TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES AFTER THE DATE OF THIS
RELEASE.


                    For further information, please contact:
              Carolyn J. Anderson or Jeff Johnson at (303) 373-4860
                                       or
   RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or
                               info@rjfalkner.com