August 14, 2002

SERVOTRONICS, INC. (AMEX-SVT)

ANNOUNCES 6 MONTH AND 2nd QUARTER RESULTS

Elma, NY -- Servotronics, Inc. (Amex - SVT) reported second quarter net income of $133,000 (or $0.07 per share – Basic and Diluted) on revenue of $4,300,000 as compared to net income of $214,000 (or $0.11 per share - Basic and Diluted) on revenue of $4,714,000 for the same period in 2001. Net income for the six month period ended June 30, 2002 was $239,000 (or $0.13 per share - Basic and $0.12 - Diluted) on revenue of $8,134,000 as compared to net income of $336,000 (or $0.18 per share - Basic and Diluted) on revenue of $9,196,000 for the same period in 2001. As previously reported, the decrease in revenue is primarily the result of the reduction and delivery stretch-outs in commercial aircraft and component production caused by the events of 9/11/01, continuing terrorist threats and an economic recession. This reduction in revenue directly results in the Company’s fixed costs becoming a larger portion of total revenue and thereby is adversely affecting net income at this time. Currently, increases in government related sales are partially offsetting the decrease in the Company’s commercial aerospace revenue. The government related sales are now 24% of total revenue in 2002 as compared to 18% for the comparable period in 2001.

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 at least partially offset by increases in government and defense spending. Therefore, while the Company is optimistic, it is unable to precisely quantify with certainty the net long term effect that these events will have on the Company. However, the Company has a long successful history of improving its capabilities and successfully moving forward notwithstanding the cyclical nature of the aerospace industry, recessions or other adverse circumstances.

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