Measurement Specialties Chairman Resigns

2/6/2003 - Measurement Specialties (AMEX: MSS) announced that Joseph Mallon will resign to pursue other opportunities, effective January 31, 2003. Mort Topfer will assume the position of Chairman at that time. Mr. Mallon will remain as a Member of the Company’s Board of Directors.

“The past year has been a very difficult period for the Company” commented Frank Guidone, CEO. “That fact notwithstanding, over his tenure Joe led the Company through a period of substantial growth and expansion, and was largely responsible for putting MSS on the map. We wish him well in his future endeavors.”

Mr. Mallon stated: “I leave Measurement Specialties with regret at closing a chapter in my career with a Company to which I have dedicated myself so earnestly, with regret for what could have been done better, and with pride in helping create a Company that I believe has excellent future potential. As a Director, I will continue work for Measurement Specialties’ success. I have confidence in the abilities of present management to realize that potential, and wish the best for all connected with Measurement Specialties.”

In a related topic, the Company has decided to further reduce the size of its Board of Directors from seven to five. Damon Germanton and Steve Petrucelli have declined to stand for reelection when their terms as Director’s expire at the upcoming Shareholders Meeting. The Board has decided to eliminate those Board seats at that time.

The Annual Meeting of Shareholders, which was postponed due to the delay in the completion of the audit and restatement of the Company’s financial statements, will be held on March 3, 2002, at 2:00 PM EST at The University Club in Manhattan. A Proxy Statement relating to the meeting will be forthcoming.

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