NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES ELECTION OF DIRECTORS AT ITS ANNUAL STOCKHOLDER MEETING
Eau Claire, Wisconsin (May 21, 2008) – The shareholders of National Presto Industries, Inc. (NYSE: NPK) re-elected Melvin S. Cohen and Joseph G. Stienessen to new three-year terms as directors at the May 20, 2008 annual stockholders meeting. In addition during the meeting, the 2008 new housewares/small appliance product introductions were shown to the shareholders.
The new products included four additions to the Company’s stainless steel electric product line: the versatile Options® multi-pot for virtually any kind of cooking (steaming, deep frying, roasting, stewing, boiling and blanching); the Options® fondue which provides the means to prepare and serve a complete fondue meal – melted cheeses for tempting appetizers, hot broth and oil for cooking meats right at the table, and chocolate or caramel for deliciously dipped fruit or cake; a wok that delivers the high temperatures needed for authentic stir frying; and an electric pressure cooker that regulates power automatically to maintain correct cooking pressures. Each product is beautifully styled and constructed of luxurious, gleaming stainless steel. The elements of all four appliances are embedded in an impact welded aluminum base that assures virtually instant heat up and even heating. Each also features the Presto® ControlMaster® heat control which provides precise temperature control. Finally, each product is fully immersible and dishwasher safe with the control removed. The Company introduced a new specialty appliance as well – its QuickBurger™ hamburger cooker which prepares a quarter pound burger in minutes, quickly and conveniently. The resulting burger is both juicy and healthy, as fats are drained into a special reservoir. The Company rounded out its new offerings with a griddle and a promotional electronic timer. The new griddle features a warming tray which enables the cook to simultaneously maintain the temperature of cooked food, while preparing additional batches or a complementary offering. The new timer is so simple to use that the instructions provided are superfluous.
National Presto Industries, Inc. operates in three business segments. The Housewares/Small Appliance segment designs and sells small household appliances and pressure cookers under the PRESTO® brand name, and is widely recognized as an innovator of new products. The Defense segment manufactures a variety of products, including medium caliber training and tactical ammunition, energetic ordnance items, fuses and cartridge cases. The Absorbent Products segment is primarily engaged in the manufacture of private label adult incontinence products and baby diapers.
This release contains “forward looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. In addition to the factors discussed above, other important risk factors are delineated in the Company’s various SEC filings.
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