Electronic Systems Technology Announces 2nd Quarter Sales More Than Double.

Business Editors, High-Tech Writers

KENNEWICK, Wash.--(BUSINESS WIRE)--Aug. 13, 2002

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, 2002, with sales revenues more than doubling for the three and six month periods.

EST reported sales for the second quarter 2002, of $513,952 compared to $211,007 for the same quarter in 2001. For the second quarter of 2002 the Company recorded Net Income of $55,576, or $0.01 per share, compared with a net loss of $49,977, or $0.009 per share, for the second quarter of 2001. For the six-month period, EST recorded net income of $141,275 or $0.025 per share on sales of $999,700 for the six month period ended June 30, 2002, compared with a net loss of $80,548 or $0.015 per share on sales of $421,728 for the same period in 2001.

             Selected Statement of Operations Information
                              (Unaudited)


                        Three Months Ended        Six Months Ended
                       June 30     June 30      June 30       June 30
                        2002        2001         2002          2001
                  ----------------------------------------------------
Sales             $   513,952  $   211,007   $   999,700  $   421,728
Net income
 (loss) before
 tax                   81,821      (75,722)      211,668     (122,352)
Net Income (loss)      55,576      (49,977)      141,275      (80,548)
Weighted average
 common Shares
 outstanding        5,619,311    5,654,530     5,619,311    5,654,530
Basic Earnings
 (Loss) per
 Share            $      0.01  $    (0.009)  $     0.025  $    (0.015)
Diluted Earnings
 (Loss) per
 Share            $      0.01  $    (0.009)  $     0.025  $    (0.015)



                        Selected Balance Sheet Information
                                    (Unaudited)

                                    June 30,        December 31,
                                      2002               2001
                                   -----------------------------
Cash and cash equivalents          $1,803,228          1,513,592
Total current assets                2,510,317          2,218,993
Property & equipment (net)            161,288            164,989
Total assets                        2,687,092          2,401,672
Total current liabilities             235,667             91,522
Long-term debt                            -0-                -0-
Stockholders' equity                2,451,425          2,310,150

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.

www.esteem.com