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

Eau Claire, Wisconsin (July 26, 2002) -- National Presto Industries, Inc. (NYSE: NPK) announced today second 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, "As expected, second quarter earnings were depressed by the ongoing requirement to provide higher cost domestic products during the transition to offshore production. Completion of that transition is expected during 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

June 30, 2002

July 1, 2001

$ 20,555,000

$17,594,000

$ 1,083,000

$ 1,379,000

$ .16

$ .20

6,841,000

6,862,000

SIX MONTHS ENDED

June 30, 2002

July 1, 2001

$ 43,315,000

$37,604,000

$ (1,277,000)

$ 2,629,000

$ (.19)

$ .38

6,839,000

6,870,000

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