HSR Hi-Shear Technology Corp

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 (310) 784-7821.