

                                                                  Exhibit 99.1

CONTACT:    Barry A. Morris
            Chief Financial Officer
            (845) 358-6000

                                                           FOR IMMEDIATE RELEASE

                                   ARTICLE 9
       ARTICLE 10 GENERAL BEARING CORPORATION ANNOUNCES MERGER AGREEMENT

WEST NYACK, NY - January 19, 2001 - General Bearing Corporation (Nasdaq: GNRL)
today announced that it has signed a definitive merger agreement with a company
controlled by a group of current directors and management. This group includes
Seymour Gussack, Chairman of the Board of General Bearing and David Gussack,
General Bearing's President and a director, and other shareholders, who together
hold a majority of the Company's outstanding stock. Under the terms of the
merger agreement, the Company's public stockholders will receive $6.50 per share
in cash.

The Company entered into the merger agreement following the unanimous
recommendation by a special committee of the Company's Board of Directors and
the receipt of a fairness opinion from Howard, Lawson & Co. The special
committee is comprised of non-management directors.

Completion of the transaction is subject to customary closing conditions,
including stockholder approval and the completion of debt financing. Stockholder
approval will be solicited by means of a proxy statement that will be mailed to
stockholders upon completion of the required Securities and Exchange Commission
filing and review process. Keybank National Association has committed the
financing necessary for the transaction.

The Company anticipates completing the transaction in the spring of 2001.

General Bearing manufactures ball bearings, tapered roller bearings, spherical
roller bearings and cylindrical roller bearings. Under "The General" and the
"Hyatt" trademarks, the Company supplies original equipment manufacturers in the
automobile, truck/trailer, railcar, office equipment, machinery and appliance
industries, as well as the industrial aftermarket.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: This press release contains forward looking statements that are subject to
risks and uncertainties, including, but not limited to, the impact of
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competitive products, product demand and market acceptance risks, reliance on
key strategic alliances, fluctuations in operating results and other risks
detailed from time to time in the Company's filings with the Securities and
Exchange Commission. These risks could cause the Company's actual results for
the current fiscal year and beyond to differ materially from those expressed in
any forward looking statements made by, or on behalf of, the Company.

