Standex Acquires Magnetico, Inc.

Business Editors

SALEM, N.H.--(BUSINESS WIRE)--Dec. 1, 2003

Strategic Acquisition of Defense Supplier Expands Markets for

Standex Electronics Group

Standex International Corporation (NYSE:SXI) today announced that it has purchased substantially all of the assets of privately held Magnetico, Inc., of Holtsville, New York, and its affiliate, Trans American Transformer, Inc. of East Setauket, New York, in an all cash transaction. Terms of the transaction were not disclosed. The affiliated companies, with combined annual sales of $3.2 million, custom design and manufacture high-reliability, flight-critical magnetic components for the U.S. military and the aerospace and avionics industries. Standex expects the acquisition to be accretive to earnings in its first full year.(1)

"Standex's acquisition strategy is focused on identifying bolt-on companies with highly complementary lines of value-added, engineered products that can accelerate our growth in targeted markets," said Roger Fix, President and CEO of Standex. "The purchase of Magnetico and Trans American Transformer represents the continued execution of this strategy, and adds to an already robust platform of electronic components and subassemblies."

"What differentiates Standex Electronics from its competition is the quality of the engineered turnkey solutions that we produce," said John Meeks, President of Standex Electronics Group. "Our engineering, custom-manufacturing capabilities, broad product offering and laboratory testing are quite unique and allow us to provide superior service to our customers. The acquisition of Magnetico and Trans American Transformer provides additional synergies and opportunities to penetrate the market for high-reliability electronic components in the aerospace and avionics markets. The two companies have proven products, long-term relationships with an established base of prestigious customers and a strong management team. We are pleased that Mark Eicher, President of Magnetico, and Harold Eicher, Vice President of Magnetico have agreed to continue in their management roles."

Magnetico designs and manufactures high-reliability magnetics that meet military and aerospace standards. Founded in 1959, the company is a NASA-approved Space Station Freedom Supplier. The Magnetico testing facility and manufacturing operation are certified by the Defense Logistics Agency and the Defense Electronics Supply Center.

The Standex Electronics Group, with facilities in the United States, Canada, United Kingdom, Mexico and China, is a global manufacturer of high-quality electronic and electro-mechanical components, assemblies and connectors to the automotive, medical, communications, refrigeration, air conditioning, security and industrial power supply industries. This acquisition marks the third addition to Standex Electronics' core of companies since Standex launched its Focused Diversity initiative and its restructuring and realignment program. The earlier acquisitions included ATC-Frost Magnetics in 2001 and Cin-Tran in 2002.

About Standex

Standex International Corporation is a multi-industry manufacturer in three broad business segments: Food Service, Industrial and Consumer with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil and China. For more information about Standex, visit www.standex.com.

(1) These statements are forward looking and involve certain risks, uncertainties and assumptions. Factors affecting the outcome and results include failure to achieve the Company's acquisition and restructuring goals, uncertainties in the economy, competitor activities, changes in economic growth and demands in domestic and international markets, pricing pressures and other market factors. Actual results could differ materially from anticipated projected results.