PLR.A Plymouth Rubber

Plymouth Rubber Negotiating Sale and Leaseback Financing; Terminates SEC Reporting CANTON, Mass., Jan. 25 /PRNewswire-FirstCall/ -- Plymouth Rubber Company, Inc. (AMEX:PLR.AAMEX:PLR.B) today announced that it is negotiating with real estate development firms and various financing sources, including its current lenders, for an overall refinancing involving the sale and leaseback of the Company's real estate in Canton, comprising approximately 40 acres of land and buildings. The transaction would require the execution of definitive purchase and sale and lease agreements, and would be subject to the receipt of a satisfactory environmental report and other conditions. If negotiations are successfully completed, and definitive agreements are executed before the end of February, the Company anticipates that a closing could take place before the end of the second quarter of 2005. The Company also announced that it has filed with the Securities and Exchange Commission certifications terminating the Company's obligations to file periodic and current reports under the Securities Exchange Act of 1934. Maurice J. Hamilburg, the Company's President and Co-CEO, stated: "The Company's Board of Directors concluded that the substantial costs associated with remaining a public company, particularly those associated with implementing recent Sarbanes-Oxley directives, overwhelmingly outweigh the benefits to Plymouth of having its shares trade in the public markets." 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 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. Contact: Joseph J. Berns Vice President - Finance (781) 828-0220 Ext. 1377 DATASOURCE: Plymouth Rubber Company, Inc. CONTACT: Joseph J. Berns, Vice President - Finance of Plymouth Rubber Company, +1-781-828-0220 ext. 1377 Web site: http://www.plymouthrubber.com/

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