Hanaper Partners Acquires Stake in Plymouth Rubber

Business Wire, May 20, 1997

NEW YORK--(BUSINESS WIRE)--May 20, 1997--Hanaper Partners today announced that it, along with members of the Propp Family, had acquired a 7.8% stake in the Class A voting shares of Plymouth Rubber Company, Inc. of Canton, Mass. (AMEX:PLR.A). Hanaper said that its group had also purchased a position in the Class B nonvoting shares (AMEX: PLR.B).

Rodney M. Propp, Co-Chief Investment Officer of Hanaper, said "We are delighted to have had an opportunity to purchase a stake in this well run company at a favorable price. Plymouth is on track in its turn around, has healthy cash flow and has embarked on a program of careful expansion including strategic acquisitions. We have great confidence in Maurice J. Hamilburg, Plymouth's CEO."

Hanaper Partners, L.P., a private hedge fund, invests primarily in small capitalization companies.

CONTACT: Hanaper Partners, L.P.

Rodney M. Propp

Co-Chief Investment Officer

212/752-3910