TECHNOLOGY RESEARCH CORPORATION ANNOUNCES STRATEGIC ALLIANCE WITH DANAM COMMUNICATIONS INC

CLEARWATER, FLORIDA, February 24, 2004 – Ned Schiff, Vice President U.S. Sales and Marketing for Technology Research Corporation (TRC), (NASDAQ–TRCI), announces that TRC is partnering with Danam Communications Inc., of Korea, to represent TRC’s LCDI Fire Shieldâ Cord Sets to Korean manufacturers of portable room air conditioners for the U.S. market.

Ned Schiff said, “We are pleased to work with a Korean technology company such as Danam.  Korean manufacturers supply a significant portion of the portable room air conditioners sold by various companies into the U.S market.”  He added, “We believe this relationship with Danam enhances our ability to market our LCDI Fire Shield Cord Sets to Korean manufacturers.”  

As a result of the National Electrical Code requirement and UL standard, portable room air conditioners manufactured after August 1, 2004 that are sold in the United States require cord fire protection.  TRC’s LCDI Fire Shield Cord Sets meet this requirement.  Portable room air conditioners manufactured prior to August 1, 2004 may be sold after August 1, 2004 without the cord fire protection.  The normal manufacturing cycle of portable room air conditioners, for which this protection will be implemented, is late fall through spring.

Danam Communications Inc. (DCI), was founded in 1982 as Korea’s first Thick Film Hybrid Integrated Circuit manufacturer.  DCI has maintained a steady growth based on the leading edge IT technologies and electronics.  Recently, caused by the Global IT market downturn, it has successfully restructured and transformed to focus on display and consumer electronics.  In addition, DCI specializes in product customization, PCBA, and contract manufacturing.  DCI has approximately 300 employees with revenues of $100 million. 

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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