LGL To Review Initiatives That Enhance Shareholder Value

The LGL Group, Inc. (NYSE MKT: LGL) (the “Company”), a globally diversified holding company with a history of operations dating back to 1914, today announced that it has been approached by an investment group interested in acquiring certain parts of its sole operating subsidiary, M-tron Industries, Inc. (known as “MtronPTI”), a designer and manufacturer of advanced frequency control components for the Aerospace, Defense (“Aero/Defense”) and Internet Communications Technology (“ICT”) markets.

“As we continually review our operations, we will consider building value through organic developments, partnerships and joint ventures. We will carefully explore opportunities that are economically attractive to stockholder value creation,” according to Greg Anderson, LGL’s President and Chief Executive Officer.

“As the industry rapidly evolves to meet global demands, we continue to make R&D investments in potential growth areas within our target markets. However, market dynamics remain challenging, with notable price pressure, the lingering effects of uncertainty in U.S. government spending and cautious infrastructure spending patterns. It makes sense that a company such as MtronPTI, with a strong brand history and blue chip customer position, should consider the best alternatives for its stakeholders as this industry consolidates. We believe we can be effective in consolidating part of the market, and we are proactively exploring all options, which may include joint ventures, selective acquisitions, divestitures, and furthering efforts to gain efficiencies,” said Mr. Anderson.

The Board of Directors has organized a special committee to work with MtronPTI management to consider every reasonable option presented, as well as other value-enhancing opportunities. LGL Chairman, Marc Gabelli, said, “While the potential to sell MtronPTI may be present, the Board will assess LGL’s overall value creation efforts. Being approached by an interested party puts in motion a process to surface values. We are a publicly-traded micro-cap designer and manufacturer with a long history of competing globally through innovation. We must be positioned to grow and our stock price is essential in that context.”

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