For Immediate Release: Friday, October 18, 2002

For More Information: Bob Mercer, (605) 773-3212

M-tron Industries to Create Jobs in Yankton

(Pierre) –M-tron Industries of Yankton will create up to 32 jobs in the next three years, Governor Bill Janklow announced today, Friday, October 18.

“M-tron recently acquired the assets of a Chicago-based competitor named Champion Technologies,” Janklow said. The acquisition will result in new customers and the need for new employees at M-tron,” he said.

Janklow said M-tron is a true South Dakota success story. “This company started in our state in 1965. With the additional employees, M-tron will have a South Dakota staff of more than 125 people,” Janklow said.

Janklow also noted that this company has tremendous potential for future growth. “This is a company that manufactures and sells packaged quartz crystal frequency control devices. As the demand for digital technology grows, M-tron will continue to grow,” he said.

Bob Zylstra, President and Chief Executive Officer of M-tron, explained the decision to pursue acquisitions, and in particular to acquire the assets of Champion. "M-tron believes that there is an excellent opportunity to create value for our customers and our investors by acquiring selected companies during this period of business downturn. Today we have a unique opportunity to acquire technology and innovative product designs from Champion,” he said.

“The local effort to assist M-tron with its expansion was a public partnership. Yankton Area Progressive Growth, Inc. recently received a Neighborhood Initiative Grant from the City of Yankton for its revolving loan fund. YAPG was able t o loan this money to M-tron as part of a package that includes the Governor’s Office of Economic Development REDI Fund loan fund and dollars from the Areawide Business Council,” said Ron Kraft, secretary/treasurer, Yankton Area Progressive Growth, Inc. “Without the efforts of Governor Janklow and the GOED, this project wouldn’t have come together as quickly as it did,” Kraft concluded.