Ault Incorporated to Consolidate Manufacturing Operations; Plan to Save $1.3 Million Annually; Includes Closing Minneapolis Manufacturing Operations.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--July 17, 2003

Ault Incorporated (Nasdaq:AULT) announced today that, in a move intended to reduce expenses, improve cash flow and return the Company to profitability, it will consolidate its production operations. The consolidation will include the closing of the Minneapolis manufacturing operations, affecting approximately 40 jobs in production, equipment maintenance, procurement and administrative support. The plan will consolidate the production operations among Ault's other manufacturing plants. The plan is expected to take four months to complete, ensuring continuing service to Ault's global customer base. Ault's management estimates that the consolidation will reduce expenses by approximately $1.3 million annually.

Frederick M. Green, Ault president and chief executive officer, commented, "In April, we announced several measures to reduce expenses. We continue to combine facilities and operations in our ongoing plans to move the Company to positive cash flow during this fiscal year. We are fortunate that we have an established global workforce with years of experience manufacturing our product line. Our commitment to customer care remains strong, and we will continue to deliver excellent products, services and technical support to our customer base worldwide."

Ault designs, manufactures and markets power conversion products. The Company is a leading supplier to original equipment manufacturers of communications equipment, computer peripherals, medical equipment and printing/scanning equipment. Ault's power conversion products are used to provide power at various levels from 1 to 1200 watts for a broad range of equipment. Ault is headquartered in Minneapolis with locations in Norwood, Massachusetts, Seoul, South Korea, Shanghai, China and Xianghe, China.

Statements regarding Ault's anticipated future performance are forward-looking and therefore involve risks and uncertainties that could cause results or developments to differ significantly from those indicated in the forward-looking statements. These include, but are not limited to: market conditions in the global electronics industry, buying patterns of major customers, competitive products and technologies, the ability to control expense growth and other factors set forth in the Company's filings with the Securities and Exchange Commission.