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WALTHAM, Mass.--([ BUSINESS WIRE ])--ModusLink Global Solutions^(TM), Inc. (NASDAQ:MLNK), a leader in value chain management, issued the following statement in response to the press release issued by Handy & Harman Ltd. (NASDAQ: HNH) together with BNS Holding, Inc. and Steel Partners, Ltd. (the aHNH Groupa) earlier today:

ModusLinkas Board of Directors and management team are committed to acting in the best interests of the Company and ALL ModusLink stockholders. Last November, ModusLinkas Board of Directors commenced a comprehensive review of the strategic alternatives available to the Company to enhance stockholder value. Contrary to the HNH Groupas assertions, that process is well underway as stated on the Companyas recent quarterly investor conference call, and it would be inappropriate for the Board to potentially jeopardize the process by publicizing details. Furthermore, the Stockholder Rights Agreement that was adopted by ModusLinkas Board on March 21, 2012, enables the Company to continue to conduct an orderly, thorough and deliberative process of exploring the Companyas strategic alternatives.

As stated in the announcement yesterday, the Stockholder Rights Agreement is intended to enable ModusLink stockholders to realize the long-term value of their investment in the Company and is designed to reduce the likelihood that any person or group would accumulate 15 percent or more of the stock or engage in other coercive takeover tactics without paying a control premium to all stockholders. Furthermore, the issuance of the Rights is not intended to prevent a transaction that is determined by the Board of Directors to be fair, advisable and in the best interests of all ModusLink stockholders.

The Stockholder Rights Agreement will expire on March 21, 2013, unless the Rights are redeemed earlier by the Company. Further details about the Stockholder Rights Agreement can be found on the Form 8-K that the Company filed with the SEC on March 22, 2012.

About ModusLink

ModusLink Global Solutions, Inc. designs and executes global value chain strategies to solve clientsa cost, time-to-market, customer satisfaction and revenue objectives. Our supply chain, aftermarket, e-Business and entitlement management solutions support the end-to-end product lifecycles of the worldas leading technology and consumer goods companies. ModusLink has more than 25 years of experience executing complex supply chain processes such as sourcing, configuration and fulfillment. We can manage these critical functions seamlessly with a clientas global e-Business initiative or an integrated aftermarket program, including alternative channel recovery for at-risk inventory. Backed by a footprint of more than 25 solution centers in 15 countries, ModusLink clients can react quickly to shifting market dynamics impacting value chain performance and revenues. For more information about ModusLinkas flexible, scalable and sustainable solutions, visit [ www.moduslink.com ] or [ www.valueunchained.com ], the blog for value chain professionals.

ModusLink Global Solutions is a trademark of ModusLink Global Solutions, Inc. All other company names and products are trademarks or registered trademarks of their respective companies.

Forward Looking Information

This news release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainty. These forward-looking statements include statements as to the intent of the Rights Agreement to enable the Companyas stockholders to realize the long-term value of their investment in the Company, the potential outcome and impact of the Companyas ongoing review of strategic alternatives, and the anticipated impact of the Rights Agreement on the Companyas strategic alternatives review process. There can be no assurance that the Rights Agreement will have the intended impact, or that the Companyas review of strategic alternatives will lead to any transaction, result in increased value to its stockholders or the realization of long-term value by stockholders. Economic, business, market, regulatory, technology and other factors could cause our actual future results to differ materially from those expressed in our forward-looking statements. More information about these factors is contained in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on our website [ www.moduslink.com ]. We do not undertake to update our forward-looking statements except as required by law.