Steel Partners Says Court of Appeals Ruling Speaks for Itself

Steel Partners II, L.P. ("Steel Partners") today issued the following statement in response to Ronson Corporation's (Nasdaq: RONC) January 17, 2005 press release.

The ruling by the United States Court of Appeals for the Third Circuit is crystal clear and speaks for itself. We refer Ronson shareholders to the first sentence of the Company's own press release: "On January 13, 2005, the United States Court of Appeals for the Third Circuit affirmed the dismissal by the U.S. District Court of a lawsuit filed in 2003 by Ronson Corporation, together with several of its Directors, against Steel Partners II, Warren
Lichtenstein, Howard Lorber, several Steel Partners employees and a number of secret, unidentified investors of Steel Partners."

"We find it difficult to believe that the Ronson Board of Directors approved the Company's January 17, 2005 press release," said Warren Lichtenstein, managing partner of Steel Partners. "The press release seems to be a continuation of Louis Aronson's misguided personal agenda.

Mr. Aronson's refusal to accept the clear statements of one of the highest and most
prestigious courts in the country demonstrates that his personal agenda will continue to waste shareholder money and resources."

Mr. Lichtenstein added, "Today's higher corporate governance standards mandate that Mr. Aronson stop wasting corporate assets and attempting to rule through bullying and misuse of his position. It is time for the Board to end Aronson's reign and stop blindly supporting his wasteful agenda."