To the Stockholders and the Board of Directors of TransTechnology Corporation:
We have audited the accompanying consolidated balance sheets of TransTechnology Corporation and
subsidiaries as of March 31, 2001 and 2000, and the related statements of consolidated operations,
stockholders' equity and cash flows for each of the three years in the period ended March 31, 2001.
These financial statements are the responsibility of the Company's management. Our responsibility is
to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audits provide a reasonable
basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the financial
position of TransTechnology Corporation and subsidiaries at March 31, 2001 and 2000, and the results of
their operations and their cash flows for each of the three years in the period ended March 31, 2001 in
conformity with accounting principles generally accepted in the United States of America.
Parsippany, New Jersey
July 13, 2001
