Waxman Industries, Inc. Announces Laurence Waxman Promoted to President and Chief Operating Officer

Business Wire, June 23, 2004

BEDFORD HEIGHTS, Ohio -- Waxman Industries, Inc. (OTCBB:WAXM), a leading supplier of specialty plumbing, floor and surface protection and other industrial products to the consumer and industrial markets, reported that Laurence Waxman has been promoted to President and Chief Operating Officer of the Company. Mr. Laurence Waxman has been with the Company since 1980 in a number of positions, including President of Waxman Consumer Products Group since 1988 and Vice President of Sales since 1984. He also became the Executive Vice President of Waxman Industries in 2002 and has been a member of the Company's Board of Director's since 1996.

In his new role, he will work with Melvin and Armond Waxman, the Company's Co-Chief Executive Officers and Co-Chairmen to ensure the successful implementation of the Company's strategic plans, as well as marketing and sales and operational initiatives for all of the Company's operations, including those in Asia. Mr. Laurence Waxman will continue with his current responsibilities as President of Waxman Consumer Products Group, the Company's largest operation.

Commenting on the announcement, Melvin Waxman, Chairman and Co-Chief Executive Officer said: "We are very pleased with Larry's contributions and knowledge of the Company's operations, both in the U.S. and Asia, and look forward to the energy and new ideas he will bring to the continued development of the entire Company."