PARK ELECTROCHEMICAL CORP. INITIATES SEARCH TO REPLACE INDEPENDENT AUDITOR

LAKE SUCCESS, New York, June 3, 2004…Park Electrochemical Corp. (NYSE-PKE) announced that it recently has initiated a search for a new independent auditor and that Ernst & Young LLP has notified the Company that it would decline reappointment as the Company’s independent auditor for the current fiscal year, although Ernst & Young and the Company have agreed that Ernst & Young will review the Company’s financial statements for the fiscal year 2005 first quarter ended May 30, 2004.

Prior to being notified by Ernst & Young that it would decline reappointment as the Company’s independent auditor, Park had already commenced discussions with other major accounting firms to be the Company’s auditor for the current fiscal year, and Park plans to engage a new auditor in the near future.

Park noted that there have been no disagreements with Ernst & Young on any matters of accounting principles or practices, financial statement disclosure or auditing scope or procedure.

This news release contains forward-looking statements which are subject to certain risks, uncertainties and assumptions and include, but are not limited to, the scheduled engagement of a new auditor. Forward-looking statements typically can be identified by the use of words such as “expect”, “estimated”, “scheduled”, “anticipate”, “plan”, “believe” and similar terms. Although Park believes that its expectations and plans are reasonable, it can give no assurance that those expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, delays in the engagement of a new auditor.

Park Electrochemical Corp. is a leading global designer and producer of electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. Park specializes in advanced materials for high layer count circuit boards and high-speed digital and RF/Microwave electronic systems. Park also designs and manufactures advanced composite materials for the aerospace, military and industrial markets. The Company’s manufacturing facilities are located in Singapore, China, France, Connecticut, New York, Arizona and California.

Additional corporate information is available on the World Wide Web at http://www.parkelectro.com.