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Bairnco to Consider Increased Acquisition Offer from Steel Partners

Feb 5 2007

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Bairnco Corporation today responded to Steel Partners, L.P.’s (“Steel Partners”) amended offer to purchase all the outstanding shares of Bairnco common stock for $13.35 per share. The previous offer was $12.00 per share. Consistent with its fiduciary duties, the Bairnco Board of Directors will review the amended offer and make a recommendation to shareholders promptly. The Board strongly urges Bairnco stockholders not to tender any shares to Steel Partners, pending the Board’s recommendation. The Board also urges stockholders not to sign or return Steel Partners’ gold consent card until the Board has had ample time to thoroughly review the offer and make its recommendation.

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