May 15, 2002

SERVOTRONICS, INC. (AMEX-SVT)

ANNOUNCES FIRST QUARTER RESULTS

Elma, NY -- Servotronics, Inc. (Amex - SVT) reported a net income of $106,000 (or $0.06 per share – Basic and Diluted) on revenue of $3,834,000 for the quarter ended March 31, 2002 as compared to net income of $122,000 (or $0.06 per share - Basic and Diluted) on revenue of $4,482,000 for the comparable period ended March 31, 2001. This approximate 13% decrease in net income in 2002 is attributable to an overall decrease in sales revenue of approximately 14%. Nonetheless, the net income for the first quarter of 2002 represents an approximate 60% increase in net income when compared to the first quarter of 2000 and the continuation of an overall six year positive trend. The 2002 first quarter decrease in revenue is the result of the reduction and stretch-outs in commercial aircraft production and decreased demand in other commercial markets, partially offset by an approximate 19% growth in government and defense revenue when comparing the quarter ended March 31, 2002 to the comparable period of 2001. The actual decrease in commercial aircraft production resulting from the events of 9/11/01 is consistent with earlier reports from Boeing and BAE.

The Advanced Technology Group’s funded backlog as of March 31, 2002 continues to be strong and the Company is expecting an increase in purchase orders for the second quarter of 2002 as compared to the first quarter of 2002. Notwithstanding the positive indicators, it is generally recognized that the events of 9/11/01 have had a significant negative impact on the U.S. and global economies which is being offset or partially offset by increases in government and defense spending. Therefore, while the Company is optimistic, it is unable to predict or quantify with certainty the net effect that these events will have on the Company. However, the Company has a long successful history of expanding capabilities which are often enhanced by the cyclical nature of the aerospace and defense industries.

Servotronics, Inc. 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 new TwinTurbo Fan aircraft, the Airbus and Boeing commercial aircraft, DeHavilland DHC8-40 and various other programs.

Servotronics, Inc, is composed of two operating 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.). The Consumer Products Group designs and manufactures sporting knives, cutlery, bayonets and machetes for both commercial and government applications.

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