The LGL Group, Inc. Reports Results for 2007

ORLANDO, Fla., May 13, 2008 (PRIME NEWSWIRE) -- The LGL Group, Inc. (AMEX:LGL)
(the "Company"), today announced results for the year ended December 31, 2007.
Total revenues for the year ended December 31, 2007 were $39,536,000, a decrease
of 4.8% from the year ended December 31, 2006. Loss from continuing operations
for the year ended December 31, 2007 was $555,000 compared to income from
continuing operations of $2,946,000. Included in the 2007 loss from continuing
operations was an impairment loss on Lynch Systems' assets of $905,000. There
was a net loss of $2,554,000, or ($1.18) per share, in 2007 compared with a
restated net income of $956,000, or $0.44 per share, in 2006.

Our 2007 results included operational losses and other charges against income in
relation to our subsidiary, Lynch Systems, Inc., certain of the assets of which
were sold during the second quarter of 2007. Losses from Lynch Systems'
discontinued operations were $1,017,000 in 2007 compared to losses of $1,990,000
in 2006. In addition, a loss of $982,000 was incurred on the sale of Lynch
Systems' assets. The total loss from Lynch Systems' discontinued operations was
$1,999,000, or ($0.92) per share from discontinued operations, compared to
losses of $1,990,000, or ($0.93) per share from discontinued operations in 2006.

The Company has filed its Annual Report on Form 10-K for the year ended December
31, 2007 with the Securities and Exchange Commission. The Company's management
determined that it had incorrectly assessed the functional currency of one of
its foreign subsidiaries, which required a restatement of the financial results
for the first two quarters of 2007, 2006 and prior years. The Company's
management also identified errors in the Company's previously reported
depreciation expense for 2006, as well as years prior to 2006, and the first two
quarters of 2007. As a result of an error in the depreciation computation, the
Company had incorrectly recognized too much depreciation expense during each
quarterly period during 2006 and the first two quarters of 2007. These
restatements required the concurrence of both the Company's former and current
auditors.

The effect on the year ended December 31, 2006 was to recognize a net $91,000
increase in income, which is comprised of $86,000 included within other income
(expense) related to foreign currency remeasurement gains, and $5,000 as a
reduction to manufacturing cost of sales, related to a reduction in depreciation
expense. For 2006, the net effect of the foreign currency remeasurement and
depreciation expense adjustments was an increase of $0.04 per share. For further
information, see the Company's Annual Report on Form 10-K.

"We believe that 2007 was an important transition year for the LGL Group,"
commented Robert Zylstra, the Company's President and CEO. "With the divestiture
of Lynch Systems, our Company is focused on a cohesive line of custom electronic
products that we sell to the market leaders in some of the world's best
industries. This has us well positioned to meet the Company's growth objectives,
both organically and through complementary acquisitions."

The LGL Group, Inc. is a holding company with subsidiaries engaged in
manufacturing and marketing custom designed highly engineered electronic
components. The Company operates through its principal subsidiary, M-tron
Industries, Inc., which includes the operations of M-tron Industries, Ltd. and
Piezo Technology, Inc. The combined operations conduct business as "MtronPTI."

MtronPTI manufactures and markets custom designed highly engineered electronic
components that are used primarily to control the frequency or timing of signals
in electronic circuits. Its devices, which are commonly called frequency control
devices, are used extensively in infrastructure equipment for the
telecommunications and network equipment industries. Its devices are also used
in electronic systems for military applications, avionics, earth orbiting
satellites, medical devices, instrumentation, industrial devices and global
positioning systems. MtronPTI has operations in Orlando, Florida, Yankton, South
Dakota and Noida, India. MtronPTI also has a sales office in Hong Kong, China.

For more information on the Company and its products and services, contact
Harold D. Castle, Chief Financial Officer, The LGL Group, Inc., 2525 Shader Rd.,
Orlando, Florida 32804, (407) 298-2000, or visit the Company's Web site:
www.lglgroup.com.

Caution Concerning Forward Looking Statements

This document includes certain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Actual results may differ materially from these
expectations due to changes in global political, economic, business,
competitive, market and regulatory factors. More detailed information about
those factors is contained in the LGL Group's filings with the Securities and
Exchange Commission.

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CONTACT: The LGL Group, Inc.
Harold Castle
407-298-2000 ex: 146
hcastle@mtronpti.com

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