Lambda Electronics, Inc. has a new President.

DON NAAB JOINS LAMBDA ELECTRONICS, INC. AS PRESIDENT

SAN DIEGO, CA (December 12, 2001) - I'm pleased to announce that Don Naab has joined Lambda Electronics as President.

Don comes to us from Centurion Wireless Technologies, a $140 million company where he was the COO. Prior to that, he was President and C.O.O. of Pacific Research and Engineering Corporation, another high technology company, located in San Diego. Don's career spans over 20 years with leadership roles in various functional areas including engineering, project management, sales and operations.

Don's background matches nicely the challenges facing Lambda; Sales growth, acceleration of new product introductions, and improved operational excellence. Don received his B.S.E.E. from the University of Wisconsin and an MBA from Notre Dame.

Don and his wife Eileen will be relocating to San Diego from Lincoln, Nebraska as soon as they find suitable housing. In the meantime, he will be leasing an apartment in San Diego.

Don is located in the Del Sol office in San Diego and can be reached at +619-628-2800. Please welcome Don and join me in giving him your full support.

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