Bolt Technology Announcement

NORWALK, Conn.--Feb. 1, 20047, 2004--Bolt Technology Corporation (AMEX:BTJ) recently was informed by letter that the staff of the Securities and Exchange Commission has begun an informal inquiry regarding certain corporate and accounting matters at the Company. The staff stated that the inquiry should not be construed to indicate that any federal securities laws had been violated or to reflect on the integrity of any person, the Company or its securities. Although the Company believes that it has acted properly and legally and is voluntarily cooperating with the staff's informal inquiry, it can neither predict the length, scope or results of the informal inquiry, or the impact, if any, on the Company or its operations.

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "estimate," "project," "anticipate," "expect," "predict," "believe," and similar expressions are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, risks associated with decreased demand for the Company's products due to fluctuation in energy industry activity, reliance on certain significant customers, significant amount of foreign sales and other risks detailed in the Company's filings with the Securities and Exchange Commission. Forward-looking statements involve a number of risks and uncertainties which could cause actual results or events to differ materially from those currently anticipated.