Press Release

 

Contact: F. Gordon Bitter
Park Electrochemical Corp.
(516) 354-4100

PARK ELECTROCHEMICAL CORP. ANNOUNCES CONVERSION OF NOTES

LAKE SUCCESS, New York, March 2, 2001…Park Electrochemical Corp. (NYSE-PKE) announced that $98,262,000 principal amount of its 5_% Convertible Subordinated Notes due March 1, 2006 had been surrendered for conversion on or before March 1, 2001 and that it is redeeming $1,738,000 principal amount of the Notes for a redemption price of $1,000.15 (including accrued interest) for each $1,000 principal amount Note on March 2, 2001. Park had previously announced that on March 2, 2001 it would redeem all of the outstanding Notes that were not converted on or before March 1, 2001. The Notes surrendered for conversion converted into a total of approximately 3,494,000 shares of Park Electrochemical Corp. Common Stock at a conversion price of $28.125 per share.

Park Electrochemical Corp. is a leading global designer and producer of electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. Park specializes in advanced materials for high layer count circuit boards and high speed digital broadband telecommunications, internet and networking applications. Park’s electronic materials business operates through fully integrated business units in Asia, Europe and North America. The Company’s major manufacturing facilities are located in Singapore, England, France, Germany, New York, Arizona and California. Park’s electronic materials business operates under the “Nelco” name.

Additional corporate information is available on the World Wide Web at http://www.parkelectro.com.

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Park Electrochemical Corporation*48 So. Service Road, Suite 300*Melville*NY*11747

(631) 465-3600*Fax: 465-3100

Copyright 2001 (c) All Rights Reserved. Park Electrochemical Corp.

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