CERADYNE ranks first in aviation week study of small AEROSPACE/DEFENSE COMPANIES

Costa Mesa, CA. – Ceradyne, Inc. (Nasdaq: CRDN) announced today that Aviation Week & Space Technology ranked it first in financial performance among thirty U.S. publicly traded aerospace/defense companies with annual revenue of $250 million to $1 billion.

Ceradyne’s number one ranking is derived from four categories: return on invested capital, earnings momentum, asset management, and financial health. The ranking was published in the July 7, 2008 edition.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: “We appreciate that Ceradyne has been recognized by Aviation Week for its financial performance during a year when the Company has been highly active in integrating acquisitions, expanding into attractive new markets, and investing in the development of prototype next-generation armor systems for the military.”

Eddie Belfield, Ceradyne’s European Marketing Manager, will accept an award on behalf of the Company in recognition of its placement in the 2008 TPC (Top-Performing Companies) Study during a ceremony at the Farnborough International Airshow in Hampshire, , on July 15, 2008.