Abstract: An extracting tool for removing a lug from an electronic part includes a pair of handle members, a gripping member and a ram, with the handle members being so related to the gripping member that on squeezing of the handles, jaws of the gripping member and of one of the handle members grip the lug of a condenser and on further squeezing of the handles a lever joined to the other of the handles moves the ram, which is mounted adjacent to one of the jaws, against the condenser, thereby causing relative motion of the condenser and the lug and extracting the lug from the condenser. Also described is a method for replacing an electrolytic can type condenser by detaching the lugs therefrom without detaching the electrical connections to the lugs and then soldering the lugs of a replacement condenser to said connected lugs.