BNS Co. Extends Review Period for Sale of North Kingstown Real Estate

    WARWICK, R.I.--July 20, 2001--BNS Co. (formerly known as Brown & Sharpe Manufacturing Company) announced today that it has agreed to extend, until September 30, 2001, the due diligence review period afforded to Precision Park Partners LLC, as the Buyer, under their Purchase and Sale Agreement for the sale of the Company's real estate situated in North Kingstown, Rhode Island. The extension is necessary to enable completion of the Buyer's examination of the property and its financing arrangements. Accordingly, the closing of sale has been postponed to a date to be mutually agreed between the parties following the expiration of the extended review period.

    This report contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of assumptions, risks, and uncertainties that could cause actual results of the Company to differ materially from those matters expressed in or implied by such forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which are in some cases beyond the control of the Company and may cause the actual results, performance, or achievements of the Company to differ materially from anticipated future results, performance, or achievements expressed or implied by such forward-looking statements. Additional information regarding this risk factor and uncertainties is detailed from time to time in the Company's SEC filings.