RYE, N.Y., April 16 /PRNewswire-FirstCall/ -- WHX Corporation (Pink Sheets: WXCP; "WHX") announced today that it has successfully completed its cash tender offer to purchase up to all of the outstanding shares of Bairnco Corporation (NYSE: BZ; "Bairnco") for $13.50 per share. The tender offer expired, as scheduled, at 5:00 p.m., New York City time, on Friday, April 13, 2007. Approximately 88.9% of the outstanding Bairnco shares were tendered in response to the $13.50 per share cash tender offer. Based upon a preliminary tally by American Stock Transfer & Trust Company, the depositary for the offer, a total of 6,600,989 shares of Bairnco common stock were validly tendered in the offer and not withdrawn (including 14,377 shares tendered pursuant to guaranteed delivery procedures). WHX has accepted for purchase all Bairnco shares validly tendered in the offer and not withdrawn. Payment for the tendered shares, at the offer price of $13.50 per share, net to the seller in cash and without interest, will be made promptly. As promptly as practicable, WHX intends to take all action within its control to effect a merger of BZ Acquisition Corp., the acquisition subsidiary for the tender offer, with Bairnco in which each share of Bairnco common stock that remains outstanding (other than shares owned by WHX or BZ Acquisition Corp., shares owned by Bairnco as treasury stock and shares held by stockholders who properly exercise their appraisal rights) will automatically be converted into the right to receive the same $13.50 per share cash consideration paid in the tender offer. For additional information: Investors and Analysts Daniel Sullivan and Bob Sandhu MacKenzie Partners, Inc. (212) 929-5500 Media Jason Booth and Terry Fahn Sitrick And Company, Inc. (310) 788-2850 DATASOURCE: WHX Corporation CONTACT: Investors and Analysts, Daniel Sullivan or Bob Sandhu, both of MacKenzie Partners, Inc., +1-212-929-5500, for WHX Corporation; or Media, Jason Booth or Terry Fahn, both of Sitrick And Company, Inc., +1-310-788-2850, for WHX Corporation

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