NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES
FIRST QUARTER 2002 SALES AND EARNINGS

Eau Claire, Wisconsin (April 26, 2002) -- National Presto Industries, Inc. (NYSE: NPK) announced today first quarter sales and earnings, as shown in the table below. Net earnings per share have been computed on the basis of the weighted average number of common shares outstanding for the respective periods.

In response to questions about sales and earnings, Maryjo Cohen, President, stated, "The first quarter loss in 2002 was expected. As anticipated in the Company’s 2001 annual report, the loss was due to a number of factors, chief among which were a plant closing charge for employee termination benefits to be taken in first quarter 2002 and the ongoing requirement to provide higher cost domestic products during the transition to offshore production. Completion of that transition is expected during the fourth quarter 2002. Earnings were likewise affected by the interest rates implemented by the Federal Reserve in steps last year, which resulted in sharply reduced yields from the Company’s portfolio. The sales rise largely reflects the net effect of the Company’s acquisitions during 2001.“

National Presto manufactures and sells small household electric appliances and pressure cookers under the PRESTO® brand name. The Company is widely recognized as an innovator of new products.

THREE MONTHS ENDED
March 31, 2002
April 1, 2001
Net Sales
$ 22,760,000
$20,010,000
Net Earnings
$ (2,360,000)
*
$ 1,250,000
Net Earnings Per Share
$ (.31)
*
$ .18
Weighted Shares
6,837,000
6,879,000
* Includes after tax charges relating to plant closings of $2,423,000 - $.35 per share. These charges were for employee termination benefits and were previously disclosed as expenses to be taken during first quarter 2002.

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