July 3, 2002 Immediate Release

SERVOTRONICS, INC.

(AMEX-SVT) Servotronics’ Chairman and President, Dr. Nicholas D. Trbovich, reviewed highlights of the Company’s operational and financial achievements in 2001 including the 68% year-to-year increase in net income and the Company’s current strong balance sheet. The detailed financial report for the year 2001 was previously publicly reported.

The Company’s registration under two world quality standards, AS9100 and ISO 9001, was reported. These standards are important milestones in the continuing evolution of the aerospace industry. It is part of a global effort to insure manufacturing excellence by all aerospace manufacturers.

Dr. Trbovich reviewed forecasts for both commercial and defense applications in the aerospace industry and spoke of the effects of 9/11 on the Company and global markets. Recognizing the opportunity in the anticipated “robust military market”, he commented on the ability of the Company to at least partially replace anticipated temporary decreases in commercial aerospace revenues with increased defense revenues. Initial evidence of this occurrence is that defense revenue increased from 25% of the total Advanced Technology Group’s (ATG) revenue in 2001 to 34% of the total ATG’s revenue in the first quarter of 2002.

As the aviation industry celebrates its 100 year anniversary in 2003, Servotronics will celebrate it’s 43rd anniversary of operation in the industry. 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’s new twinturbo fan aircraft, the Airbus and Boeing commercial aircraft, DeHavilland DHC8-40 and various other programs.

Re-elected as Company Directors at the meeting were Dr. Nicholas D. Trbovich, Donald W. Hedges, Dr. William H. Duerig, and Nicholas D. Trbovich, Jr.

Servotronics is composed of two operating groups – the Advanced Technology Group, and the Consumer Products Group. The Consumer Products Group designs and manufactures cutlery, sporting knives and machetes for both commercial and government applications.

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