KINGSBURY RECEIVES PRESTIGIOUS PRESIDENT'S "E" AWARD FOR EXPORTING EXCELLENCE

PHILADELPHIA, PA, July 3, 2002 - On June 6, Kingsbury, Inc. was presented the prestigious President's "E" Award by the United States Secretary of Commerce Donald L. Evans. The award is given to persons, firms, or organizations that contribute significantly in the effort to increase U.S. exports. Kingsbury was one of only 17 "E" Award recipients this year. "Kingsbury has been active in the foreign arena for many years," commented Kingsbury President/CEO Woods Brown. Over the last half century the company has established representation in England, Australia, Italy, China, India, Latin America and Southeast Asia. Revenue from international markets represents 35 percent of Kingsbury's total business - a 10 percent increase from just five years ago. "We see many opportunities for continued growth around the world," expressed Brown. Incidentally, Kingsbury recently announced the opening of a sales office in Paris, France to serve part of northern Europe. Brown, Jerry Vogt, Manager of Corporate Development, and Geoffrey deMers, Kingsbury board member, accepted the award on behalf of the company. "E" recipients attended an evening reception on June 5 with National District Export Council members and Department of Commerce officials. The presentation of the awards by Secretary Evans was held on the morning of June 6. Both occasions were held in the Herbert C. Hoover Building in Washington, D.C. This was the third time Kingsbury has been recognized by a department of the United States government. The company received an "E Pennant" in 1942 from the U.S. Army and Navy for its manufacturing contribution during World War II. More than 4,000 "E Pennants" were presented to businesses in recognition of production excellence during the war. In 1985, the Department of Defense also awarded Kingsbury the "E" Award for quality excellence. By Executive Order, President Kennedy revived the "E" symbol of excellence in 1961 to honor and provide recognition to America's exporters.