SL Industries, Inc. Commences Tender Offer for Acquisition of Ault Incorporated

    MT. LAUREL, N.J., Dec. 23 /PRNewswire-FirstCall/ -- SL INDUSTRIES, INC.
 (AMEX & PHLX: SLI) announced today that Lakers Acquisition Corp., its
 wholly-owned subsidiary, has commenced a cash tender offer for all of the
 outstanding shares of common stock of Ault Incorporated (Nasdaq:   AULT)
 (approximately 4,861,000 shares) for $2.90 per share in cash.
     SL Industries and Ault announced on December 19, 2005 that they had signed
 a definitive agreement for SL Industries to acquire Ault in an all cash tender
 offer.  The board of directors of Ault unanimously approved the acquisition
 and voted to recommend that Ault's shareholders tender their shares in the
 offer.  In addition, the directors and certain officers of Ault and affiliates
 thereof have agreed to tender shares representing in the aggregate
 approximately 17% of the outstanding shares of Ault common stock in support of
 the transaction.
     Following completion of the tender offer, SL Industries intends to merge
 Lakers Acquisition Corp. with and into Ault to acquire all Ault shares not
 tendered in the offer.  Pursuant to this merger, any remaining Ault
 shareholders will receive the same price that is paid in the offer for each
 share not tendered in the offer.
     The tender offer is subject to certain conditions, including the valid
 tender in the tender offer of at least a majority of the outstanding shares of
 common stock of Ault excluding shares held by SL Industries.
     Unless the offer is extended, the offer and withdrawal rights will expire
 at 12:00 midnight, New York City time, on January 25, 2006. Questions and
 requests for assistance may be directed to Morrow & Co., Inc., the Information
 Agent for the tender offer, at (203) 658-9400.
 
     NOTICE TO INVESTORS
     This announcement is for informational purposes only and is neither an
 offer to purchase nor a solicitation of an offer to sell securities.  On
 December 23, 2005, SL Industries and its acquisition subsidiary, Lakers
 Acquisition Corp., commenced a cash tender offer for all of the outstanding
 shares of common stock of Ault (including associated preferred stock rights)
 for $2.90 net per share.  The tender offer is scheduled to expire at 12:00
 midnight, New York City time, on January 25, 2006, unless it is extended as
 provided in the related offer to purchase.  Lakers Acquisition Corp. will file
 a tender offer statement with the Securities and Exchange Commission (SEC),
 and Ault will file a solicitation and recommendation statement with respect to
 the offer.  The tender offer statement (including an offer to purchase, a
 related letter of transmittal and other offer documents) and the
 solicitation/recommendation statement will contain important information that
 should be read carefully before any decision is made with respect to the
 tender offer.  Those materials will be made available to Ault's security
 holders at no expense to them.  By the close of the business day on December
 23, 2005, all of those materials (and all other offer documents filed with the
 SEC) will be available at no charge on the SEC's web site (http://www.sec.gov)
 or from Morrow & Co., Inc. by calling 203-658-9400 or by email to
 Ault.info@morrowco.com.
 
     ABOUT SL INDUSTRIES
     SL Industries, Inc. designs, manufactures and markets power electronics,
 power motion, power protection, teleprotection and communications equipment
 and systems that is used in a variety of medical, aerospace, computer,
 datacom, industrial, telecom, transportation and electric power utility
 equipment applications.  For more information about SL Industries, Inc. and
 its products, please visit SL Industries' web site at
 http://WWW.SLINDUSTRIES.COM.
 
     ABOUT AULT
     Ault is a leading manufacturer of power conversion products and is a major
 supplier to original equipment manufacturers of wireless and wire line
 communications infrastructure, computer peripherals and handheld devices,
 medical equipment, industrial equipment and printing/scanning equipment.
 
 

SOURCE SL Industries, Inc.

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