Ceradyne, Inc. recently announced preliminary results for the first quarter ended March 31, 2003, including sales, bookings and backlog hitting record levels for any quarter in the company's history. Sales for the quarter rose 30% to a record $19.1 million, from $14.7 million in the first quarter of 2002. Bookings, or new orders, for the quarter were more than $29 million, a 104% increase compared to $14.2 million in the first quarter a year ago. Backlog at the end of the quarter increased to $45.6 million, versus $27.5 million at the end of the first quarter of 2002. The company will release first quarter 2003 earnings and complete financials before the market opens on April 30, 2003, and will conduct a teleconference at 8:00 a.m. PDT (11 a.m. EDT) that same day to review the results and provide updated guidance for 2003.

To participate in the teleconference, call (877) 869-7690 or (706) 634-1478 approximately 10 minutes prior to the start time. The teleconference will also be available live via the Internet at http://www.ceradyne.com or http://www.companyboardroom.com . These websites will host an archive of the call for 60 days. A telephone playback will also be available for 48 hours beginning at 11 a.m. PDT on April 30. The playback can be accessed by calling (800) 642-1687 or (706) 645-9291; the conference ID is 9638813.