Rogers Corporation Holds Annual Meeting of Stockholders

    ROGERS, Conn.--April 24, 2003-- Rogers Corporation held its annual meeting of stockholders today in Hartford, CT.
    Stockholders voted to re-elect each of the nominees for Director of the Corporation. They are Leonard M. Baker, Harry H. Birkenruth, Walter E. Boomer, Edward L. Diefenthal, Gregory B. Howey, Leonard R. Jaskol, Eileen S. Kraus, William E. Mitchell, and Robert G. Paul.
    Walter E. Boomer, Chairman of the Board of Directors and Chief Executive Officer, presided at the meeting and said in his message, "Despite the economic downturn, we have been able to show continuous improvement in sales and earnings in 2002 over 2001."
    He remarked, "We owe Rogers' financial performance to our continued common sense strategy of discipline and hard work. And we will continue down this path, adhering to our principles and developing new product lines for our customers worldwide."
    James M. Rutledge, Vice President of Finance and Chief Financial Officer, said, "2002 was a very good year for Rogers. Sales were $219.4 million up from $216 million in 2001. Full year 2002 after tax profits increased 18% to $18.6 million."
    Mr. Rutledge noted that earnings per share in 2002 were $1.16, which represent an 18% increase over earnings per share in 2001.
    Robert D. Wachob, President and Chief Operating Officer, said, "Operational improvements and changes in 2002 resulted in improved gross margins from 31% in 2001 to 32% in 2002. We are positioned to further improve gross margins going forward."
    Mr. Wachob noted that cost containment strategies begun in 2000 and the outstanding performance of Rogers' joint ventures contributed significantly to the Company's success.
    Global expansion in Asia continues to be a strong focus of the Company stated Mr. Wachob. Rogers Technologies Suzhou, Company, Ltd, a wholly owned subsidiary, located in Suzhou, People's Republic of China, is adding manufacturing capability in two facilities for selected product lines.
    He also remarked that Rogers acquired the polyolefin foam business in 2002 from Cellect, LLC, including the intellectual property. This business is being consolidated with Rogers BISCO(R) Silicones in a new facility, located in Carol Stream, Illinois.
    Mr. Wachob discussed the sale of Rogers Moldable Composites Division in Manchester, CT, last year to Perstorp, a former licensee of Rogers. The divestiture reflects the Company's decision to focus on its faster growing strategic businesses.

    Safe Harbor Statement

    Statements in this news release that are not strictly historical may be deemed to be "forward-looking" statements which should be considered as subject to the many uncertainties that exist in the Company's operations and environment. These uncertainties, which include economic conditions, market demand and pricing, competitive and cost factors, and the like, are incorporated by reference in the Rogers Corporation 2002 Form 10-K filed with the Securities and Exchange Commission. Such factors could cause actual results to differ materially from those in the forward-looking statements.

    Web site Address: http://www.rogerscorporation.com

    Editorial Contact: Cynthia N. Kiss, Marketing Communications Specialist, Phone: 860/779-5597, Fax: 860/779-5509, e-mail: cynthia.kiss@rogerscorporation.com