Astro-Med Reports Record Fourth Quarter and Annual Sales; Directors Declare Regular Cash Dividend.

Business Editors

WEST WARWICK, R.I.--(BUSINESS WIRE)--March 23, 2004

Astro-Med, Inc. (NASDAQ:ALOT) reports net income of $1,000,000, equal to 18 cents per diluted share, on sales of $14,157,000 for the Fourth Quarter ended January 31, 2004. During the corresponding period of the previous year, the Company reported a net loss of $1,095,000, equal to 26 cents per diluted share, on sales of $12,968,000.

For the twelve month period ended January 31, 2004, net income was $3,217,000, equal to 66 cents per diluted share, on sales of $55,781,000. During the preceding fiscal year, the Company reported a net loss of $1,882,000, or 44 cents per diluted share, on sales of $49,165,000.

Commenting on the results, Albert W. Ondis, Chief Executive Officer stated, "We had set a goal of returning the Company to a path of sales growth and profitability in Fiscal 2004 and I am pleased to report we have achieved those financial objectives. Our sales have grown 13%, net income margins reached 6% after tax, and we added $5.3 million in cash and investments to our balance sheet. We believe with Astro-Med's suite of new products, broad channels of distribution, dedicated organization, financial controls and solid balance sheet, the Company is poised to continue its growth in both sales and earnings."

On March 22, 2004 the Directors of Astro-Med declared the regular quarterly cash dividend of 4 cents per share payable on April 2, 2004 to shareholders of record on March 26, 2004.

Astro-Med will host a conference call today at 5:00 PM EST to discuss its Fourth Quarter and Fiscal Year financial results. Participants are encouraged to listen to the presentation via webcast at http://www.astro-med.com under "Investor Relations". A replay of the webcast can be heard by visiting the Investor Relations section of the Astro-Med corporate website at http://www.astro-med.com through March 31st, 2004.

Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific, and medical applications.

                            ASTRO-MED, INC.

                       Fourth Quarter          Twelve-Months Ended
                   January 31,  January 31,  January 31,  January 31,
                       2004         2003         2004         2003
                   ------------ ------------ ------------ ------------
Net Sales          $14,157,000  $12,968,000  $55,781,000  $49,165,000
Net Income (Loss)   $1,000,000  ($1,095,000)  $3,217,000  ($1,882,000)
Net Income (Loss)
 Per Share - Basic       $0.21       ($0.26)       $0.73       ($0.44)
Net Income (Loss)
 Per Share -
 Diluted                 $0.18       ($0.26)       $0.66       ($0.44)
Dividends Per Share      $0.04        $0.04        $0.16        $0.16
Weighted Average
 Common Shares
   Outstanding -
    Basic            4,686,000    4,270,000    4,397,000    4,269,000
Weighted Average
 Common Shares
   Outstanding -
    Diluted          5,428,000    4,270,000    4,856,000    4,269,000

Safe Harbor Statement

This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2003 annual report and its annual and quarterly filings with the Securities and Exchange Commission.