Technology Research (TRCI) 8-K Results of Operations and Financial Condition

Exhibit 99.1

TECHNOLOGY RESEARCH CORPORATION APPONTS

BARRY H. BLACK AS CHIEF FINANCIAL OFFICER

AND OFFERS THIRD QUARTER GUIDANCE

CLEARWATER, FLORIDA, January 3, 2006 - Robert S. Wiggins, Chairman, President and Chief

Executive Officer of Technology Research Corporation (TRC), (NASDAQ-TRCI), announced that

Barry H. Black has joined the Company as Vice President of Finance and Chief Financial Officer.

Mr. Wiggins said, “Barry Black brings significant financial expertise to the Company which is needed

as we continue to expand our markets and grow the business. We are pleased to have a person of

Barry’s caliber join the Company.” He added, “TRC expects to report a strong third fiscal quarter,

which ended December 31 , 2005, with earnings per share well above that of the same period last year.”

Mr. Black has a Bachelor of Arts in Economics, a Masters of Science in Accounting and a Masters of

Science in Taxation. He is a Certified Public Accountant in Florida, a member of the American Institute

of Certified Public Accountants and the Florida Institute of Certified Public Accountants. Most recently

he was Vice President and Corporate Controller of Paradyne Networks, Inc., a multinational

telecommunications company (Nasdaq). Prior to that he held a number of financial executive positions

with AT&T Paradyne. His professional background includes controllership, treasury and cash

management, corporate tax, SEC reporting, and mergers & acquisition activities. Barry also has

significant experience in international operations and in Sarbanes Oxley implementation.

Mr. Black replaces Scott Loucks, who was the Company’s previous Vice President of Finance and

Chief Financial Officer. Mr. Loucks, who has been with the Company for 20 years, will assume much

more of an operational role in his new position as Vice President of Financial Operations, reporting to

Mr. Black. Mr. Loucks will be responsible for establishing enhanced operational controls to manage

the Company’s Far East activity, including its contract manufacturers and suppliers. In addition, he

will concentrate his efforts on the Company’s internal audit function as well as Sarbanes Oxley related

matters.

Technology Research Corporation designs, manufactures and markets electrical safety products that

save lives, protect people from serious injury from electrical shock and prevent electrical fires in the

home and workplace. These products have worldwide application. The Company also supplies power

monitoring and control equipment to the United States Military and its prime contractors.

“Safe Harbor” Statement: Certain statements made in this press release are forward looking in

nature and, accordingly, are subject to risks and uncertainties. The actual results may differ

materially from those described or contemplated.

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