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Clearwater, Florida, May 23, 2001 --- Ned Schiff, Vice President U.S. Sales & Marketing for Technology Research Corporation (TRC) (NASDAQ-TRCI) announced today that their proposal to the National Electrical Code (NEC) for mandating cord fire prevention on room air conditioners was accepted without amendment for adoption into the NEC at the National Fire Protection Association’s May Technical Meeting. This new requirement will be part of the 2002 NEC, pending any successful appeal to the Standards Council or Petition to the Board of Directors opposing its acceptance. The NEC is adopted by municipalities throughout the United States as the minimum standard for electrical installations.

The proposal will require that room air conditioners be provided with either a leakage current detection and interruption (LDCI) protected cord set or an arc fault circuit interrupter (AFCI) protected cord set. Industry estimates indicate there were approximately 6.5 million room air conditioners shipped by manufacturers in year 2000. The Company believes that its Fire Shield® cord set is the best available technology from a cost and performance standpoint for meeting this requirement, however, the Company expects this new market opportunity to be highly competitive.

According to Schiff, “This is a major advancement in increasing the level of safety for these products.” He added, “The next step in the implementation process will be for Underwriters Laboratories to finalize the product standard for this requirement. Through these efforts and with the size of the room air conditioner market, the Company believes it could begin to realize significant revenues from this market in approximately two years.”

TRC is recognized as a worldwide leader in electrical safety products that prevent electrocution and electrical fires and protect against serious injury from electrical shock. Based on its core technology in ground fault sensing, products are designed to meet the needs of the consumer, commercial and industrial markets worldwide. The Company also supplies power monitors and control equipment used by the United States Military and its prime contractors.

“Safe Harbor” Statement: Certain statements in this press release are forward looking in nature and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated.

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