Hi-Shear Declares Cash Dividend

  
    
  
  
    
      Hi-Shear Technology Corp. (NYSE Alternext: HSR) today announced that its 
      Board of Directors approved a cash dividend of $0.50 per share, or 
      approximately $3,410,000, payable on October 27, 2008, to shareholders 
      of record as of the close of business October 24, 2008. The ex-dividend 
      date is October 22, 2008.
    
    
      This dividend does not represent that the company will pay future 
      dividends on a scheduled basis as the company will pay dividends only 
      when the Board determines it is advisable.
    
    
      Hi-Shear Technology provides pyrotechnic, mechanical, and electronic 
      products to the aerospace and defense market 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, national defense, and government 
      programs.
    
    
      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 
      products, dependence on the uncertainty of government budgetary issues, 
      primary government contracts, and intellectual property rights.
    
    
      More information regarding this release and other company matters is 
      available through Hi-Shear’s website at www.hstc.com, 
      or contact Linda A. Nespole, Corporate Secretary, at [phone].