MyJo Coffee Maker National Presto Industries

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

Eau Claire, Wisconsin (October 25, 2002) -- National Presto Industries, Inc. (NYSE: NPK) announced today third 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, Maryjo Cohen, President, stated, “All of the current fiscal year (ending December 31, 2002) will be burdened by particularly narrow gross margins upon the Company’s core appliance business, caused by two factors: 1) Reduced pricing needed to sustain sales opportunities which in turn reflect pressure by customers for continuously lower costs and 2) relatively high costs for merchandise produced at U.S. plants pending shipment of goods from new sources in Asia. Some relief on the second factor can be expected in 2003, when all significant products marketed by the parent company will be sourced from China. Comparative yields on financial instruments, currently at 40 year lows, are predicted as severe earning depressants into the new year.”

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
Sept. 29, 2002
Sept. 30, 2001
Net Sales
$ 28,629,000
$27,081,000
Net Earnings
$ 893,000
$ 2,137,000
Net Earnings Per Share
$ .13
$ .31
Weighted Shares Outstanding
6,842,000
6,849,000
NINE MONTHS ENDED
Sept. 29, 2002
Sept. 30, 2001
Net Sales
$ 71,994,000
$64,685,000
Net Earnings
$ (384,000)
*
$ 4,766,000
Net Earnings Per Share
$ (.06)
$ .69
Weighted Shares Outstanding
6,839,000
6,863,000
* Includes after tax charges for employee termination benefits relating to plant closings of $2,423,000 - $.35 per share.

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