Synalloy Corporation Names Two New Board Members

SPARTANBURG, S.C., Aug. 12, 2011 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), a producer of specialty chemicals, pigments, stainless steel pipe, vessels and process equipment, is pleased to announce the appointment of James W. Terry and Henry L. Guy to its Board of Directors. They are replacing directors Sibyl N. Fishburn who retired after 32 years of service on the Board, and Jeffrey Kaczka, elected to the Board in April 2011, who resigned due to the responsibilities required in his new role of Chief Financial Officer for another company.

Henry Guy is the President & CEO of Modern Holdings Incorporated, a diversified holding company with investments primarily in the telecommunications, media, healthcare and energy industries. He joined the firm in 2002 and has led investments in over thirty Modern Holdings subsidiaries. Mr. Guy is also a managing director of Anima Regni Partners, a single family office with offices in the United States, Luxembourg and Sweden. Mr. Guy serves on several boards including those of Verdere S.àr.l., Basset AB, Evermore Global Advisors, Specialty Claims Management, and Lors Photography, Inc. Mr. Guy serves on the Board of Visitors of Vanderbilt University's Owen Graduate School of Management. He holds a BS degree in Economics from the United States Naval Academy and a Masters of Business Administration from Vanderbilt University.

Jim Terry has been the President of Hollingsworth Funds, Inc., Greenville, SC, a charitable foundation, since October 2009. His career has been principally in the banking industry where he served as President of Carolina First Bank, Greenville, SC from 1991 to 2008, and Executive Vice President of First Union National Bank, Charlotte, NC from 1970 to 1991. He holds a BSBA degree from the University of North Carolina.

For more information about Synalloy Corporation, please visit our web site at www.synalloy.com.

CONTACT: Rick Sieradzki
         (864) 596-1558

Released August 12, 2011