Summa Announces Plan to Divest Excess Real Estate

Summa Announces Plan to Divest Excess Real Estate 


TORRANCE, Calif., Dec. 23  /PRNewswire-FirstCall/ -- Summa Industries
(NASDAQ:SUMX) announces that it plans to sell several parcels of real estate
which have or will become excess, primarily as a result of several
consolidation and restructuring initiatives.  Summa estimates that the sales
could result in a book gain of $5 to $9 million and generate cash, net of
taxes, of $9 to $14 million.  The parcels will be offered for sale separately
and the timing of each sale is uncertain.  All of the properties are zoned for
industrial use.  Some of the properties may have greater value if they can be
rezoned for residential or other use.  While rezoning may increase the value,
the sale process would likely be extended.  The properties are either currently
listed for sale or are expected to be listed for sale by the end of fiscal
2005.

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 expected
values to be realized from such sales.  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 one or more parcels of real estate, the inability of the Company to
complete its consolidation plans, 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, 2004.

For further information, contact James R. Swartwout, [phone]; fax (310)
792-7079; ; or http://www.summaindustries.com/. 

DATASOURCE: Summa Industries



CONTACT:  James R. Swartwout of Summa Industries, [phone], or

fax, [phone], 



Web site:  http://www.summaindustries.com/ 

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