EXHIBIT 99.1


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

Espey Board Elects New Director...

Saratoga  Springs,  NY;  November  25,  2003-  Espey Mfg. &  Electronics  Corp.,
(AMEX:ESP)  is pleased to announce the election of Mr. Alan D. Kohn to its Board
of  Directors.  Mr. Kohn was also elected to the Company's  Audit  Committee and
will serve as its Chairman.

Mr. Kohn, 61, is currently a principal in Cherry Hill  Partners, a New York City
based investment firm. Prior to that, he was a partner in the investment firm of
Weiss,  Peck  &  Greer.  Mr.  Kohn  has 35  years  experience  as an  investment
professional  and  received  his  Masters in Business  Administration  degree in
accounting and finance from Indiana University.

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. Barry Potoker at (518) 245-4400.

Certain  statements in this press release 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.