Electronic Systems Technology Announces 2nd Quarter 2001 Financial Information.

Business Editors

KENNEWICK, Wash.--(BUSINESS WIRE)--August 14, 2001

Electronic Systems Technology Inc. (EST) (OTC:ELST), a manufacturer of wireless modems, today announced sales and results of operations for the three and six month periods ended June 30, 2001.

EST reported sales for the second quarter 2001, of $211,007 compared to $360,513 for the same quarter in 2000. For the second quarter of 2001 the Company recorded a Net Loss of $49,977, or $0.009 per share, compared with Net Income of $10,955, or $0.002 per share, for the second quarter of 2000. For the six-month period, EST recorded a net loss of $80,548 or $0.015 per share on sales of $421,728 for the six month period ended June 30, 2001, compared with a net loss of $19,402 or $0.004 per share on sales of $588,926 for the same period in 2000.

             Selected Statement of Operations Information
                              (Unaudited)

                        Three Months Ended         Six Months Ended
                       June 30     June 30       June 30      June 30
                          2001        2000          2001         2000
                       -------     -------       -------      --------
Sales                 $211,007    $360,513      $421,728     $588,926
Net income (loss)
 before tax            (75,722)     16,597      (122,352)     (29,398)
Net Income (loss)      (49,977)     10,955       (80,548)     (19,402)
Weighted average
 common Shares
 outstanding         5,654,530   5,679,996     5,654,530    5,679,996
Basic Earnings
 (Loss) per Share      $(0.009)      0.002      $ (0.015)     $(0.004)
Diluted Earnings
 (Loss) per Share      $(0.009)      0.002      $ (0.015)     $(0.004)


                        Selected Balance Sheet Information
                                    (Unaudited)
                                          June 30,       December 31,
                                              2001               2000
                                        -----------  -----------------
Cash and cash equivalents              $ 1,313,565          1,452,287
Total current assets                     2,137,704          2,225,136
Property & equipment (net)                 180,455            175,722
Total assets                             2,326,467          2,407,871
Total current liabilities                   86,569             99,725
Long-term debt                                 -0-                -0-
Stockholders' equity                     2,239,898          2,308,146
-0-

Electronic Systems Technology, a publicly held Company since 1984, was the first Company to develop the wireless modem and receive the United States and Canadian patent for this technology. Contact EST for more details.