GP Strategies Corporation Announces Repurchase of Up to 500,000 Shares of Common Stock

Business Wire, August 26, 1998

NEW YORK--(BUSINESS WIRE)--August 26, 1998--GP Strategies Corporation (NYSE:GPX) announced today that the Company's Board of Directors has authorized the repurchase of up to 500,000 shares of its common stock from time to time in open market transactions.

Jerome I. Feldman, President and Chief Executive Officer of GP Strategies commented, "We believe that the Company's stock, at its current valuation, represents an attractive investment opportunity for the Company at this time. The action of the Board reflects its confidence in the Company's business and prospects. The Company is in a strong financial position to effect the stock repurchase program without effecting its continuing focus on developing the training and technical service business of General Physics."

GP Strategies Corporation's principal operating subsidiary, General Physics Corporation, now with over 2,100 employees located in more than 75 offices worldwide, provides performance improvement services to Fortune 500 companies, manufacturing and process industries, electric power utilities, and other commercial and governmental customers.

The forward-looking statements contained herein reflect GP Strategies' management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of GP Strategies, including, those risks and uncertainties detailed in GP Strategies' periodic reports and registration statements filed with the Securities and Exchange Commission.

CONTACT: GP Strategies Corp., New York

Jerome I. Feldman, 212/230-9508

or

Scott N. Greenberg, 212/230-9529