

                                                                  Exhibit 99.1

FOR IMMEDIATE RELEASE

GENERAL BEARING CORPORATION ANNOUNCES TERMINATION OF MERGER AGREEMENT

WEST NYACK, NY - April 16, 2001 - General Bearing Corporation (NASDAQ: GNRL)
today announced that it has terminated the merger agreement that it signed on
January 19, 2001 with GBC Acquisition Corp., a company organized 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. Pursuant to the termination, the proposed merger
between General Bearing and GBC Acquisition Corp. has been abandoned.

According to the merger agreement, the consummation of the merger was
conditioned upon the completion of debt financing for the transaction. The
financing for the transaction originally had been committed pursuant to a
commitment letter that expired on March 31, 2001. The prospective lender has
indicated that in light of current business conditions, it is not willing to
extend the commitment letter. Each of the parties to the merger agreement has
agreed that it is not reasonably feasible to finance the transaction given
current business conditions. General Bearing agreed to terminate the merger
agreement based upon the unanimous approval of the company's Board of Directors,
including the non-management directors.

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.

ARTICLE I "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
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.

