[LOGO]



FOR IMMEDIATE RELEASE
---------------------

Espey Mfg. & Electronics Corp. Reports the Death of a Director

Saratoga Springs,  NY, December 16, 2009 (NYSE Amex: ESP) - Seymour (Sy) Saslow,
former VP of  Engineering  and current member of the Board of Directors of Espey
Mfg. & Electronics Corp. has passed away.

Sy served Espey for over 50 years and was successful in designing and developing
many innovative  products and receiving patents for those products.  Several are
still in production.

His incisive input and leadership will be sorely missed.

Espey's  primary  business  is  the  development,   design,  and  production  of
specialized  military and industrial power  supplies/electronic  equipment.  The
Company's web site can be found on the Internet at www.espey.com.
                                                   -------------

For further information, contact Mr. David O'Neil or Mr. Howard Pinsley at (518)
245-4400.

This press  release may contain  certain  statements  that are  "forward-looking
statements"  and are made pursuant to the safe harbor  provisions of the Private
Securities  Litigation  Reform  Act of 1995.  These  forward-looking  statements
represent  the  Company's  current  expectations  or beliefs  concerning  future
events. The matters covered by these statements are subject to certain risks and
uncertainties  that could cause actual results to differ  materially  from those
set forth in the  forward-looking  statements.  The  Company  wishes to  caution
readers not to place  undue  reliance  on any such  forward-looking  statements,
which speak only as of the date made.

                               ###################


3