Park Electrochemical Corp. Announced Final Judgment In Its Lawsuit Against Delco Electronics

LAKE SUCCESS, N.Y., June 19 -- Park Electrochemical Corp. announced that the United States District Court for the District of Arizona has entered a final judgment in favor of Park's subsidiary, Nelco Technology, Inc., in its lawsuit filed against Delco Electronics Corporation, a subsidiary of Delphi Automotive Systems Corporation, on Nelco's claim for breach of the implied covenant of good faith and fair dealing. The parties have stipulated that Delco will pay Nelco on or before July 1, 2003. Nelco expects to receive a net amount of approximately $33 million.

As previously reported, on November 29, 2000, after a five day trial in Phoenix, Arizona, a jury awarded damages to Nelco in the amount of $32,280,000, and on December 12, 2000 the judge in the United States District Court entered judgment for Nelco on its claim of breach of the implied covenant of good faith and fair dealing with damages in that amount. Both parties filed motions for post-judgment relief and a new trial, all of which the judge denied, and both parties appealed the decision to the United States Court of Appeals for the Ninth Circuit in San Francisco. On May 7, 2003, a panel of three judges in the Court of Appeals for the Ninth Circuit rendered a unanimous decision affirming the jury verdict.

Certain portions of this press release may be deemed to constitute forward looking statements that are subject to various factors which could cause actual results to differ materially from Park's expectations. Such factors include, but are not limited to, general conditions in the electronics industry, Park's competitive position, the status of Park's relationships with its customers, economic conditions in international markets, the cost and availability of utilities, and the various factors set forth under the caption "Factors That May Affect Future Results" after Item 7 of Park's Annual Report on Form 10-K for the fiscal year ended March 2, 2003.

Park Electrochemical Corp. is a leading global designer and producer of electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. Park specializes in advanced materials for high layer count circuit boards and high speed digital broadband telecommunications, internet and networking applications. Park's electronic materials business operates through fully integrated business units in Asia, Europe and North America. The Company's manufacturing facilities are located in Singapore, China, Germany, France, Connecticut, New York, Arizona and California. Park's electronic materials business operates under the "Nelco" name.

Additional corporate information is available on the World Wide Web at www.parkelectro.com and www.parknelco.com.