All four of the Company's business units experienced year-over-year sales growth in the quarter with particular strength in the RF/Wireless Communications and Display Systems businesses, each increasing approximately 15% from the prior year. Asia and Europe led the growth geographically, increasing 15.3% and 13.4%, respectively in the quarter with North America growing 8.6% from the prior year, partially offset by declines in Latin America.

For the nine-month period ended February 28, 2003, sales were $345.6 million, an increase of 4.8% over the prior year. Sales from continuing operations for the nine months increased 8.4% from the prior year. Net earnings, before the cumulative effect of a change in accounting principle, for the nine months were $1.5 million, or $0.11 per share, compared to a net loss of $2.2 million, or $0.16 per share a year ago which also included the charge noted above relating to the sale of the Medical Glassware Business. Net loss after the $17.9 million charge related to the cumulative effect of a change in accounting principle for the nine-month period was $16.4 million, or $1.19 per share, compared to the prior year nine-month period net loss of $2.2 million.

Edward J. Richardson, Chairman of the Board and Chief Executive Officer, said, 'We are pleased to report our third consecutive quarter of year-over-year sales growth. Our global presence and commitment to engineered solutions across all businesses continues to drive us forward in this very challenging economic environment."

"We expect the year-over-year sales growth to continue, however given the current geopolitical situation on top of an already stagnant economy, we remain cautious on the market outlook while keeping our focus on market share gains and profitability, Mr. Richardson concluded."

On Wednesday, March 26, 2003 at 9:00 a.m. CST, Mr. Edward J. Richardson, Chairman and Chief Executive Officer will host a conference call to discuss the release. A question and answer session will be included as part of the call's agenda. To listen to the call, please dial 888-273-9890 approximately five minutes prior to the start of the call. A replay of the call will be available from 12:30 p.m. on March 26, 2003 through July 15, 2003. The telephone numbers for the replay are (USA) 800-475-6701 and (International) 320-365-3844; access code 677661.

This release includes certain "forward looking" statements as defined by the SEC. Such statements are not guarantees of future performance since the company's operations involve risks and uncertainties and actual results may differ materially from predictions. Reference is made to the company's Form 10-Q's and 10-K's for a summary of some of the risks that may affect the company's performance.

About Richardson Electronics

Richardson Electronics, Ltd. is a global provider of "engineered solutions," serving the RF and wireless communications, industrial power conversion, security and display systems markets. The Company delivers engineered solutions for its customers' needs through product manufacturing, systems integration, prototype design and manufacture, testing and logistics. Press announcements and other information about Richardson are available on the World Wide Web at http://www.rell.com/investor.asp.

Notes:

1. During the quarter ended November 30, 2002, the Company adopted SFAS 142, "Goodwill and Other intangible Assets" effective June 1, 2002 and as result recorded a cumulative effect adjustment of $17,862, net of taxes of $3,725 to write-off impaired goodwill.