SUMX Summa Industries

TORRANCE, Calif., Feb. 28 /PRNewswire-FirstCall/ -- Summa Industries (NASDAQ:SUMX) previously announced that it entered into an agreement to sell a vacant factory site in Orange County, California to a real estate developer for approximately $5 million. The sale was most recently scheduled to close in February 2006. The developer has encountered difficulty in obtaining required government approval of its plans, as a consequence of which, the sale has been delayed for up to six months. The sales contract, which is subject to several contingencies, including governmental approvals and rezoning for residential use, is now scheduled to expire no later than August 23, 2006. Although the sale could close earlier, because of the contingencies, there can be no assurance that this particular sale will be completed. Statements in this news release which relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and fall under the safe harbor. These forward-looking statements include, but are not limited to, statements regarding the plans of the Company to sell real estate and the timing of and expected value to be realized from such a sale. Actual results could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including, but not limited to the inability of the Company to divest the real estate, further delays in the sale process, the discovery of unanticipated contingencies, unforeseen changes in financial markets or real estate markets and other risks and uncertainties described in detail under "Risk Factors" in Summa's Annual Report on Form 10-K for the fiscal year ended August 31, 2005. For further information, contact James R. Swartwout, (310) 792-7024; fax (310) 792-7079; ; or http://www.summaindustries.com/. DATASOURCE: Summa Industries CONTACT: James R. Swartwout of Summa Industries, +1-310-792-7024, or fax, +1-310-792-7079, Web site: http://www.summaindustries.com/

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