Chicago, Illinois - January 13, 2004. Duff & Phelps, LLC served as financial advisor and rendered a fairness opinion to the board of directors of Methode Electronics, Inc. ("Methode") (NASDAQ: METH) in a recapitalization transaction to transition to a one-class voting structure.

The transaction was structured as a merger in which each share of outstanding Class B common stock (formerly NASDAQ: METHB) was converted into the right to receive $23.55 in cash and each share of outstanding Class A common stock (formerly NASDAQ: METHA) was converted into one share of new Methode common stock. As a result of the merger, the Company's new common stock will continue to trade on the Nasdaq National Market under the ticker symbol "METH".

Methode Electronics, Inc. is a global manufacturer of electronic component and subsystem devices. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode's components are found in the primary end markets of the automotive, communications (including information processing and storage, networking equipment, wireless and terrestrial voice/data systems), aerospace, rail and other transportation industries; and the consumer and industrial equipment markets. Further information can be found at Methode's website http://www.methode.com.

Duff & Phelps, LLC, a Chicago-based investment banking and financial advisory firm, provides independent financial analysis and advice, including fairness opinions, for both public and privately-held companies in transactions involving corporate acquisitions and divestitures, ESOPs, going private transactions, related party transactions, recapitalizations and restructurings, and exchange offers.