Electroglas Appoints Edward M. Saliba to Its Board of Directors.

Business Editors

SAN JOSE, Calif.--(BUSINESS WIRE)--March 27, 2003

Electroglas, Inc. (Nasdaq:EGLS), a leading supplier of process management tools for the semiconductor industry, today announced that Edward M. Saliba has joined the company's Board of Directors. An experienced finance and operations manager, Mr. Saliba also has an extensive background working with technology companies, including more than 12 years in various executive officer roles for Sun Microsystems and six years in senior financial positions at Wang Laboratories, where he most recently served as director of finance. Given his credentials, the company anticipates that Mr. Saliba will contribute valuable financial guidance to the company and will fulfill the "financial expert" criteria of the Sarbanes-Oxley Act of 2002. Mr. Saliba will be replacing long-time Electroglas board member Roger Emerick, who retired from the company's Board of Directors after nearly 10 years of service.

"Adding someone of Mr. Saliba's caliber to our Board of Directors is of great benefit to Electroglas, and I look forward to working with him," said Curt Wozniak, Chairman and CEO of Electroglas. "His vast financial expertise will be invaluable as we navigate these difficult economic times."

A former Public Governor of The Pacific Stock and Options Exchange and a current board member of Brio Software, Inc., Mr. Saliba has filled a variety of high-level finance roles over the past 26 years. Most recently, he served as chief financial officer for storage management software startup iScale, Inc., where he was responsible for financial planning and cash flow management. Prior to joining iScale, Mr. Saliba held numerous VP roles at Sun Microsystems, including VP of finance and operations, VP of human resources and VP of operations, and prior to that time he was the group controller responsible for financial planning and accounting systems in support of volume manufacturing and logistics sites at Wang. In addition, Mr. Saliba held finance manager positions at both Prime Computer and Digital Equipment Corp.

About Electroglas, Inc.

Electroglas delivers essential tools for process management to enhance the profitability of semiconductor manufacturers. The company's wafer probers, inspection systems and software solutions serve as data collection, management and analysis tools that semiconductor manufacturers depend upon to improve their productivity and process control by optimizing sort floor efficiency. Electroglas has been a leading supplier of wafer probers for over 40 years and has an installed base of more than 15,000 systems. The company's stock trades on the Nasdaq National Market under the symbol "EGLS." The company's Web site is located at www.electroglas.com.