J. L. Halsey Corporation Announces the Re-Election of Two Directors.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Feb. 25, 2003

J. L. Halsey Corporation (OTC Bulletin Board: JLHY, formerly NAHC, Inc.) announced today that at yesterday's Annual Meeting of Stockholders, Andrew Richard Blair and Nicolas De Santis Cuadra were re-elected to the Board

Mr. Blair has been a Director of the Company since November 12, 2002. He is a founder of Freimark Blair & Company, Inc., a broker-dealer research boutique. Mr Blair has served as President, Chief Executive Officer, Chief Financial Officer and as a Director of Freimark Blair since January 1983.

Mr. De Santis has been a Director of the Company since January 16, 2003. Mr. De Santis has served since January 2003 as the Chief Executive Officer of London-based Twelve Stars Communications, an international brand business consulting firm which Mr. De Santis founded in 1994. From 1989 to 1993 Mr. De Santis served as Vice President of San Francisco based branding consultancy Landor Associates (Y&R/WPP GROUP).

From December 2000 until January 2003, Mr. De Santis served as the marketing director of OPODO Ltd., an online travel portal owned by several European-based airlines including British Airways, Lufthansa and Air France.

From January 1999 until December 2000 Mr. De Santis served as Senior Vice President and Chief Marketing Officer of Beenz.com, an internet currency company sold to Carlson Marketing Group. He also previously served as the Chief Executive Officer of Twelve Stars from 1994 until December 1998. Mr. De Santis received a degree in economics from Kensington University of Los Angeles California in 1988.

Cautionary Statement

Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements and the business prospects of the Company are subject to a number of risks and uncertainties that may cause the Company's actual results in future periods to differ materially from the forward-looking statements. These risk and uncertainties include, among other things, uncertainty in the assumptions related to the settlement of the tax case, litigation against the Company, the value of receivables, certain workers compensation matters and malpractice claims against the Company. In the event that the Company registers under the Investment Company Act of 1940, there will be additional risks associated with such registration and investing in securities with the potential for greater return. These and other risks are described in the J. L. Halsey Corporation 10-K report for the year ending June 30, 2002, the 10-Q for the quarter ending December 31, 2002 and other filings with the Securities and Exchange Commission.