May 14, 2003

SERVOTRONICS, INC. (AMEX– SVT)

ANNOUNCES 1st QUARTER RESULTS

Elma, NY -- Servotronics, Inc. (Amex – SVT) reported revenues of $3,829,000 and a net loss of $71,000 (or $(0.04) per share – Basic and Diluted) as compared to revenues of $3,834,000 and a net income of $106,000 (or $0.06 per share – Basic and Diluted) for the comparable period ended March 31, 2002. The Company’s positive cash flow from operations, liquidity ratios and backlogs continue to be strong.

Recent restrictions on international travel have added to the challenges of an already troubled commercial aerospace industry that has yet to rebound from the events of September 11, 2001 and the continued real and perceived threats of further terrorist attacks… all of which have resulted in continued reductions and stretch-outs in aircraft and related manufacturing. However, during the 1st quarter of 2003, the Company’s Consumer Products Group (CPG), as the result of an intensive 2 year competition, was selected as the designer and manufacturer of the U.S. Marine Corps’ new combination combat knife and bayonet. Production shipments of this approximately 4 million dollar procurement of bayonet systems are anticipated to commence during the 3rd quarter of this year and continue into 2005. During the 1st and 2nd quarters of 2003, the Company is incurring significant front-end costs associated with prototype, preproduction and start-up activities which, consistent with the changes in accounting standards, are expensed as they occur and, as such, are not matched to their future revenues and benefits as provided for under previous accounting standards. Such costs associated with expanded sales, marketing, engineering and M & A activities in combination with the increased costs of professional fees and corporate governance as required by the new Sarbanes-Oxley Act are significant factors which contributed to the current reported net loss.

The Company is composed of two groups – the Advanced Technology Group (ATG) and the Consumer Products Group. Servotronics 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’ 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.). Its Consumer Products Group designs and manufactures cutlery, bayonets, machetes and combat, survival, sporting, agriculture, and pocket knives for both commercial and government applications.

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