Ceradyne, Inc. recently announced unaudited preliminary results for the fourth quarter and year ended December 31, 2003. Fourth quarter sales were a record $33.0 million, an increase of 87.5% from the $17.6 million in the fourth quarter of 2002. New orders for the quarter amounted to $69.5 million, also a record, representing an increase of 177.2% from the $25.1 million of new orders in the fourth quarter of 2002. For the year 2003, sales reached a record $101.3 million, 65.6% higher than the $61.2 million for 2002. New orders also hit a record $170.0 million, a 145.8% increase from $69.2 million in 2002. Backlog at the end of 2003 was at a record $104.2 million, including $1.1 million of unexercised options, an increase of 192.1% over the year-end 2002 backlog of $35.7 million, which included $1.4 million of unexercised options. Final results are expected to be released in February 2004.

For additional information, call (714) 549-0421, ext. 262, e-mail jpellizzon@ceradyne.com or visit http://www.ceradyne.com .