Plymouth Rubber Company, Inc. Receives Notice of Non-compliance With Listing Standards from the American Stock Exchange

CANTON, Mass., May 28, 2003 -- Plymouth Rubber Company, Inc. (AMEX:PLR.A) (AMEX:PLR.B) announced today that on May 23, 2003, it received notification from the American Stock Exchange (the "AMEX") that, as of the first quarter of fiscal 2003, Plymouth is not in compliance with AMEX listing requirements, due to shareholders' equity less than $2,000,000 and losses from continuing operations and/or net losses in two of its three most recent fiscal years. In order to maintain the listing of its common stock, Plymouth must submit a plan by June 23, 2003, subject to acceptance by AMEX, describing actions to be taken to bring it into compliance with listing requirements within 18 months. The Company expects to file such a plan and is evaluating its alternatives.

Plymouth Rubber Company, Inc. manufactures and distributes plastic and rubber products, including automotive tapes, insulating tapes, and other industrial tapes and films. The Company's tape products are used by the electrical supply industry, electric utilities, and automotive and other original equipment manufacturers. Through its Brite-Line Technologies subsidiary, Plymouth manufactures and supplies highway marking products.

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The Company's actual results could differ materially from those set forth in the forward-looking statements as a result of various factors, including those referenced in the "Management's Discussion and Analysis" section of the Company's most recent Annual Report on Form 10-K, which is on file with the SEC.