TECHNOLOGY RESEARCH CORPORATION ANNOUNCES TWO NEW BOARD MEMBERS

CLEARWATER, FLORIDA, August 22, 2003 – Robert S. Wiggins, Chairman and Chief Executive Officer of Technology Research Corporation (TRC), (NASDAQ–TRCI), announced that at the Company’s annual shareholder meeting held August 21, 2003, Jerry T. Kendall and Jack S. Painter, Jr. were elected as new members to the Board of Directors.

Wiggins said, “I am very pleased to welcome both Jerry Kendall and Jack Painter as members of the Board.”  He added, “They bring experience that will be beneficial as we continue to implement the growth strategies of the Company.”

Jerry T. Kendall, President and Chief Operating Officer of TRC, attended Georgia Institute of Technology and Georgia State University receiving his BA in Management in 1967 and his MBA in 1970, both from Georgia State University.  Prior to joining the Company, Kendall was Executive Vice President, The Americas, for Sensormatic Electronics Corporation, then a $1.1 billion electronics security company.  Previous executive management positions include Senior Vice President of Sales, Marketing and Customer Service for Security Tag Corporation, President of Lasergate Corporation and President and Chief Executive Officer of Paradyne Corporation.  He also held sales management positions with Inforex, sales positions with IBM and was a financial analyst with the Lockheed Georgia Company.          

Jack S. Painter, Jr. attended Georgia Institute of Technology, receiving his Bachelor of Industrial Engineering degree in 1966 and his MBA in 1968 from the Wharton School of Finance and Commerce.   Mr. Painter is currently a consultant and serves on the Boards of Bealls, Inc., Raymond James Bank and Colliers Arnold.  Previous executive management positions include service as President of Benito Advertising, President of Fahlgren Martin’s Florida operation after its merger with Benito Advertising and Vice President of Fawcett McDermott Cavanagh.  Mr. Painter was also the founder and interim CEO of the Tampa Bay Partnership, the regional development organization for West Coast Florida.  He was also the transition CEO of the State of Florida’s Division of Tourism, which he privatized in 1996 and which has subsequently functioned as Visit Florida, Inc., a marketing company.            

Technology Research Corporation designs, manufactures and markets electrical safety products that save lives, protect people from serious injury from electrical shock and prevent electrical fires in the home and workplace.  These products have worldwide application.  The Company also supplies power monitoring and control equipment to the United States Military and its prime contractors.  

“Safe Harbor” Statement:  Certain statements made 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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