EXHIBIT 14.0

                                                                    January 2004

                   NAPCO SECURITY SYSTEMS, INC. CODE OF ETHICS

This Code of Ethics applies to the employees and directors of Napco Security
Systems, Inc. Napco expects all of its employees and directors to act in
accordance with the highest standards of personal and professional integrity in
all aspects of their activities, to comply with all applicable laws, rules and
regulations, to deter wrongdoing and abide by the Napco policies and procedures
adopted by Napco that govern the conduct of its employees and directors, as
follows:

     (a) Engage in and promote honest and ethical conduct, including the ethical
handling of actual or apparent conflicts of interest between personal and
professional relationships;

     (b) Avoid conflicts of interest and to disclose to the Director of Napco
Compliance any material transaction or relationship that reasonably could be
expected to give rise to such a conflict;

     (c) Take all reasonable measures to protect the confidentiality of
non-public information about Napco or its subsidiaries and their customers
obtained or created in connection with employee's activities and to prevent the
unauthorized disclosure of such information unless required by applicable law or
regulation or legal or regulatory process;

     (d) Produce full, fair, accurate, timely, and understandable disclosure in
reports and documents that Napco or its subsidiaries files with, or submits to,
the Securities and Exchange Commission and other regulators and in other public
communications made by Napco or its subsidiaries;

     (e) Comply with applicable governmental laws, rules and regulations, as
well as the rules and regulations of self-regulatory organizations of which
Napco or its subsidiaries is a member; and

     (f) Promptly report any possible violation of this Code of Ethics to the
Director of Napco Compliance or any of the parties or channels listed in the
Napco policies.

Employees and directors are prohibited from directly or indirectly taking any
action to fraudulently influence, coerce, manipulate or mislead Napco or its
subsidiaries' independent public auditors for the purpose of rendering the
financial statements of Napco or its subsidiaries misleading.

Employees and directors understand that they will be held accountable for their
adherence to this Code of Ethics. Their failure to observe the terms of this
Code of Ethics may result in disciplinary action, up to and including
termination of employment. Violations of this Code of Ethics may also constitute
violations of law and may result in civil and criminal penalties for directors,
employees, their supervisors and/or Napco.

If employees and directors have any questions regarding the best course of
action in a particular situation, they should promptly contact the Director of
Napco Compliance. Employees and directors may choose to remain anonymous in
reporting any possible violation of this Code of Ethics.

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