SERVOTRONICS, INC. (AMEX– SVT) ANNOUNCES YEAR END RESULTS

Elma, NY -- Servotronics, Inc. (Amex – SVT) reported a net income of $254,000 (or $0.13 per share – Basic and Diluted) on revenues of $17,574,000 for the year ended December 31, 2003 as compared to a net loss of $(229,000) (or ($0.12) per share Basic and Diluted) on revenues of $15,607,000 for the comparable period ended December 31, 2002. The over $480,000 turnaround in year to year net income is attributed to the successful replacement of lost business resulting from 9/11, productivity improvements, cost containment activities and production realizations of previous engineering/marketing efforts. Increased shipments of control components for the Standard Missile program by the Advanced Technology Group (ATG) and the initial production shipments by the Consumer Products Group (CPG) for the new CPG designed U.S. Marine Corp’s combination combat knife/bayonet were specifically noted.

During the first quarter of 2004, Raytheon Missile Systems awarded Servotronics a contract for the continued production of control components for the Standard Missile program valued at over $2,700,000. Servotronics has also entered into a three year agreement with another significant customer that has an estimated sales value of $6 million dollars through 2006.

The Company’s ability to counteract the adverse effects of 9/11 and to grow sales revenues continues to be enhanced by its increased engineering and marketing commitments and the maintenance of a strong backlog, cash flow and balance sheet. The financial statements show working capital has increased to $10,912,000, the current ratio improved to 6.69 to 1 and year to year cash flow from operations increased approximately 46% to $1,353,000 in 2003 from $924,000 in 2002.

During 2003, the Company incurred significant front-end costs associated with prototype, preproduction and start-up activities. While the Company continues to incur such costs on an ongoing basis in order to support and enhance the development of new products and applications for both the ATG and CPG, the timing of such costs directly contributes to fluctuations in operating results from period to period because these costs are expensed as incurred and, as such, are not matched to their future revenues and benefits.

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 TwinTurbo 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 government applications.

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