Ceramic Industry

Ceradyne Shares Acquired by Needham & Co.

January 20, 2003
Ceradyne, Inc. recently announced that approximately 927,000 shares of Ceradyne common stock have been acquired by mutual funds and private investment funds associated with Needham & Co., Inc. The shares were formerly held by the Ford Motor Co. "We are very pleased with the acquisition of Ceradyne shares by mutual funds and private investment funds associated with Needham & Company, Inc., since it reflects their confidence in Ceradyne's growth potential," said Joel Moskowitz, Ceradyne's chief executive officer. "Since 1986, Ford and Ceradyne have had a technical, development and business relationship that Ceradyne anticipates will continue. From an immediate perspective, this transaction, involving more than 10% of Ceradyne's outstanding shares, removes an overhang of a large block of shares."

Additional information on Ceradyne can be found at http://www.ceradyne.com .