Servotronics, Inc.
 
   
 
audit committee  
forward looking statement  
 

January 30, 2006

SERVOTRONICS, INC. ANNOUNCES
STOCK PURCHASE PROGRAM

Elma, NY -- Servotronics, Inc. (Amex – SVT) announced today that its Board of Directors has authorized the purchase of up to 250,000 shares of the Company's common stock. This purchase program may be limited or terminated at any time without prior notice. Stock purchases under this program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares purchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions.

The Company also affirms – as previously reported by the public press – that it has received the full $1,000,000 policy limit from its insurance carrier in partial recovery of an embezzlement by a former employee. The insurance payment was received in the last week of 2005. Additional restitution is being pursued.

The Company is composed of two groups – the Advanced Technology Group and the Consumer Products Group. The Advanced Technology Group designs, develops and manufactures servo control and other components for various commercial and government applications (i.e., aircraft, jet engines, missiles, satellite launch vehicles, etc.). This group is currently providing products for a significant number of aerospace programs such as the F/A-18 E/F Super Hornet and other jet fighters; the Bell/Boeing MV-22 Osprey Tiltrotor Joint Service Aircraft, the Blackhawk, Apache, A-10 and other helicopters, the Standard Missile, numerous business and regional jet aircraft, Raytheon's Hawker Horizon Aircraft, Embraer Twin Turbo Fan aircraft, the Airbus 300 series and Boeing 700 series commercial aircraft, DeHavilland DHC8-40 and various other programs.

Servotronics’ Consumer Products Group designs and manufactures cutlery, bayonets, machetes and combat, survival, sporting, agricultural, and pocket knives for both commercial and governmen t applications.

SERVOTRONICS, INC. ( SVT ) IS LISTED ON THE AMERICAN STOCK EXCHANGE.

 

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