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                                                           For Immediate Release



INVESTOR RELATIONS CONTACT:                                   COMPANY CONTACT:
  Neil Berkman or Melanie Beeler                                Owen Farren
  Neil Berkman Associates                                       President & CEO
  (313)277-5162                                                 (856)727-1500
  info@BerkmanAssociates.com                                    www.slpdq.com


                    SL INDUSTRIES ANNOUNCES SALE OF SL WABER


        MT. LAUREL, NEW JERSEY, September 7, 2001 . . . SL INDUSTRIES, INC.
(NYSE & PHLX:SL) today announced the sale of its SL Waber business unit to Tripp
Lite - a world leader in the manufacture of power protection equipment. SL Waber
is engaged in the design and sale of surge suppressors and power distribution
units. The Company sold substantially all of the operating assets of SL Waber
and the stock of SL Waber's Mexican subsidiary, Waber de Mexico, for cash and
future contingent cash payments. As a result, the Company will record an
additional non-cash impairment of asset charge in the third quarter. The amount
of the additional charge, net of tax benefit, is anticipated to be less than
$1,800,000.

        Owen Farren, President and Chief Executive Officer of SL Industries,
Inc., said, "The sale of SL Waber is another step in the Company's restructuring
plans in response to the sudden slowdown in the telecommunications industry.
Last year SL Waber implemented a new business plan, which involved exiting the
low-margin mass merchandise market and concentrating on higher margin sales to
electronics distributors and original equipment manufacturers. Unfortunately,
these markets have been severely depressed in the current economic environment.
As it became clear that this downturn would be prolonged, the Company decided to
sell SL Waber to reduce its overall exposure to these markets."

        Keelin Wyman, Tripp Lite Executive Vice President, said, "The
acquisition of SL Waber adds additional breadth to Tripp Lite's already
substantial line of surge suppressors and power strips. Additionally, SL Waber's
success in the OEM power distribution (PDU) market creates many new
opportunities for Tripp Lite."

        Owen Farren added, "We believe the sale of SL Waber creates a win-win
situation for all the parties. The sale will have an immediate impact on the
financial performance and cash flow of SL Industries. In addition, SL Waber is
now combined with Tripp Lite, an excellent organization with a proven 80-year
history of market leadership focused on developing SL Waber's product niches.
The sale should allow Tripp Lite to diversify SL Waber's customer base and
continue to offer the quality products and customer service that SL Waber's
customers expect. We wish our former employees well with their new careers at
Tripp Lite."

ABOUT SL INDUSTRIES

        SL Industries, Inc. designs, manufactures and markets Power and Data
Quality (PDQ) equipment and systems for industrial, medical, aerospace and
consumer applications. For more information about SL Industries, Inc. and its
products, please visit the Company's web site at www.SLpdq.com.

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SL INDUSTRIES ANNOUNCES SALE OF SL WABER
September 7, 2001
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FORWARD-LOOKING STATEMENTS

        This press release contains statements that are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on current expectations, estimates and
projections about the Company's business based, in part, on assumptions made by
management. These statements are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in such forward-looking statements due to numerous
factors, including those described above and the following: the effectiveness of
the cost reduction initiatives undertaken by the Company, changes in demand for
the Company's products, product mix, the timing of customer orders and
deliveries, the impact of competitive products and pricing, constraints on
supplies of critical components, excess or shortage of production capacity,
difficulties encountered in the integration of acquired businesses and other
risks discussed from time to time in the Company's Securities and Exchange
Commission filings and reports. In addition, such statements could be affected
by general industry and market conditions and growth rates, and general domestic
and international economic conditions. Such forward-looking statements speak
only as of the date on which they are made, and the Company does not undertake
any obligation to update any forward-looking statement to reflect events or
circumstances after the date of this release.

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