FOR IMMEDIATE RELEASE
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Espey reports the Death of a Director

Saratoga  Springs,  NY;  November  9,  2004-  Espey  Mfg.  &  Electronics  Corp.
(AMEX:ESP).  The Company is saddened to report the recent  passing of one of its
board members and  former  Vice-President  of Operations  Mr. William P.
Greene.  Mr. Greene,  74, was a member of the board of directors  since 1992 and
had  been  nominated  for   re-election  at  the  upcoming   Annual  Meeting  of
Shareholders on  November  12, 2004 and Mr.  Howard
Pinsley,  President & CEO of the Company,  will be dedicating this years Meeting
in memory of Mr. Greene.

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.
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For further information, contact Mr. Howard Pinsley or Mr. David O'Neil 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.