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General Bearing Announces Record Revenues For Q1

15 April 1999

General Bearing Announces Record Revenues For Q1

          Company Exceeds Analyst Estimates by 60% as Earnings Rise
                            to 26 Cents Per Share

    WEST NYACK, N.Y., April 15 -- General Bearing Corporation
today reported a 60% increase in first quarter net income to
$1,002,000, or $0.26 per diluted share, from $627,000, or $0.15 per diluted
share, for the quarter a year ago.  Sales for the first quarter ended
April 3, 1999 rose 33% to $13.7 million, from sales of $10.3 million for the
year-earlier period.  The results for the first quarter exceeded Wall Street
estimates of $0.16 per share.
    General Bearing President David L. Gussack said, "This performance
reflects strength in virtually all of our product lines and validates our
strategic initiatives in the transportation industry.  Shipments to Ford as
well as new customers in the heavy duty truck/trailer market have steadily
driven sales through the first quarter.  General Bearing will continue to
build upon its success with increased shipments of tapered journal bearings in
the second quarter."
    General Bearing manufactures, sources, assembles and distributes a variety
of bearing components and products.  The Company manufactures ball bearings,
tapered roller bearings, spherical roller bearings and cylindrical roller
bearings.  Under "The General" and the "Hyatt" trademarks, the Company
supplies Original Equipment Manufacturers (OEMs) in the automobile,
truck/trailer, railcar, office equipment, machinery and appliance industries,
as well as the Industrial Aftermarket.
    "Safe Harbor" statement under the Private Securities Litigation Reform Act
of 1995: This press release contains forward looking statements that are
subject to risks and uncertainties, including, but not limited to, the impact
of competitive products, product demand and market acceptance risks, reliance
on key strategic alliances, fluctuations in operating results and other risks
detailed from time to time in the Company's filings with the Securities and
Exchange Commission.  These risks could cause the Company's actual results for
the current FY and beyond to differ materially from those expressed in any
forward looking statements made by, or on behalf of, the company.

     Financial Statements of General Bearing Corporation and Subsidiaries
                      Consolidated Statements of Income
                                (In thousands)
                                 (Unaudited)

                                          Thirteen weeks ended
                                  Apr. 3,                Mar. 28,
                                     1999                    1998

    Sales                         $13,722                 $10,337
    Cost of sales                   9,383                   7,307
    Gross Profit                    4,339                   3,030
    Selling, general and
     administrative expenses        2,531                   2,157
    Operating income                1,808                     873
    Net interest expense            (204)                   (157)
    Gain on sale of equipment          --                     295
    Income before income taxes      1,604                   1,011
    Income tax                      (602)                   (384)
    Net Income                     $1,002                    $627

    Net income per common share:
     Basic                          $0.26                   $0.16
     Diluted                        $0.26                   $0.15

    Weighted average number
     of common shares
     Basic                      3,918,950               3,903,657
     Diluted                    3,919,946               4,055,921