ESP Espey Manufacturing and Electronics Corp

Espey Mfg. & Electronics Corp. (NYSE Amex: ESP) announces results for its third quarter and the nine months of fiscal 2010, ended March 31, 2010.

Net sales for the third quarter of fiscal 2010, January 1 to March 31, 2010, increased by 3.7% to $7 million as compared with last fiscal year's third quarter net sales of $6.7 million. Net income for the period was $808,723, $.38 per diluted share, as compared with net income of $781,272, $.37 per diluted share, for the corresponding period the last fiscal year.

For the first nine months of fiscal 2010, July 1 to March 31, 2010, net sales increased by 3.9% to $19.7 million, as compared with $19 million for the first nine months of fiscal 2009. Net income for the nine months increased to $2,315,657, $1.08 per diluted share, as compared with net income of $1,137,155, $.54 per diluted share, for the corresponding period last fiscal year.

The sales order backlog for the Company was $33.1 million at March 31, 2010, decreased by $6.9 million, compared with last year's sales backlog of $40 million at March 31, 2009.

Mr. Mark St. Pierre, President and CEO, commented, "We are pleased with our financial results for the third quarter and nine months ended March 31, 2010. We remain optimistic that the combined effect of ongoing programs based on which Espey has built its reputation, and new Army and Navy programs in early development, will raise our backlog and continue Espey's profitability."

Espey's primary business is the development, design, and production of specialized military and industrial power supplies/electronic equipment. The Company's web site can be found on the Internet at www.espey.com.

This press release may contain certain statements that are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.

Espey Mfg. & Electronics Corp. comparative unaudited three-month and
nine-month figures for the periods ended March 31, 2010 and 2009.

                           Three Months                  Nine Months

                        2010          2009            2010         2009
                     ----------   ----------      -----------   -----------
Sales:               $6,955,827   $6,709,880      $19,697,098   $18,957,576
Net Income:             808,723      781,272        2,315,657     1,137,155
Income per share:
  Basic                     .38          .37             1.09           .54
  Diluted                   .38          .37             1.08           .54

Weighted average
 number of Shares
 outstanding:
  Basic               2,127,135    2,113,772        2,127,514     2,107,735
  Diluted             2,138,898    2,115,696        2,135,836     2,114,732

For further information, contact : Mr. David O'Neil or Mr. Mark St. Pierre (518) 245-4400