Hi-Shear Technology Corporation

For Immediate Release

December 12, 2000

Hi-Shear Awarded $2.2 million USAF Recovery Sequencer Contract

Hi-Shear Technology Corporation, Torrance, CA (AMEX: HSR) today announced that it has been awarded a production contract to supply new analog recovery sequencers to the United States Air Force over a one-year period. This contract has an estimated value of $2.2 million, and it comes on the heels of a $2.3 million contract for sequencers which Hi-Shear is currently producing.

Termed the ACES II Recovery Sequencer, this "electronic brain" controls the sequence of events during pilot ejection from all of the various types of tactical and strategic combat aircraft in the inventory of the United States Air Force as well as 20 international air forces. From the moment that a pilot decides to eject, this electronic marvel (located within the ejection seat) controls drogue and parachute deployment, separation of the seat from the pilot and separation from the drogue parachute. The award of this contract further solidifies Hi-Shear as a first tier, long-term supplier to the USAF for its recovery sequencer needs.

The Company has recently received the highest quality commendations from its customers. Hi-Shear is pleased that these awards include: the Defense Logistics Agency Quality System Qualification Certificate for successful adaptation and application of MIL-Q-9858A, as it relates to government contracts and a “Gold Rating” from Boeing as part of their supplier performance measurement rating system in recognition of the Company’s high quality products. In addition, Hi-Shear received two certificates of appreciation from Boeing, one of its prime customers. The two certificates were awarded in recognition of the Company’s outstanding support of the Delta IV and the Titan IV launch vehicle programs. Hi-Shear also received approval to Boeing’s Supplier Quality Management System Requirements (BMAR - Boeing Mission Acceptance Review).

Hi-Shear Technology Corporation provides aerospace products in applications where safety, performance and high reliability are essential. It develops and produces advanced systems and products that are primarily used worldwide in space satellites, launch vehicles, and government programs. The Company is also continuing to adapt its technology to produce advanced, competitively priced products for markets such as emergency rescue equipment and automotive air bag systems.

This release, as it relates to product announcements and other Company matters, contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks related to market acceptance of and demand for the Company’s new commercial products, dependence on the uncertainty of government budgetary issues, primary government contracts, and intellectual property rights.

For further information, please contact Linda Nespole (310) 784-7821 or visit the Company website, www.hstc.com.