Sypris Receives Letter of Reprimand from NASDAQ Department

Shares Remain Listed On NASDAQ In Good Standing
LOUISVILLE, Ky.--(Business Wire)--
Sypris Solutions, Inc. (Nasdaq/NM: SYPR) today announced that it has received a
Letter of Reprimand from the Nasdaq Listing Qualifications Department of The
NASDAQ Stock Market LLC indicating that the Company inadvertently failed to
comply with the stockholder approval requirements set forth in Nasdaq Listing
Rule 5635, in connection with the Company`s option exchange tender offer
conducted from March 31, 2008 to May 12, 2008.

The Department noted "that the Company believed that shareholder approval was
not required for the Offer." The Department also noted (i) that the Company had
not demonstrated a pattern of non-compliance with Nasdaq Rules, (ii) that the
Company had relied on the advice of counsel and (iii) that the Company`s failure
to comply with the Rule was inadvertent. Finally, the Department stated its
belief that "it is appropriate to close this matter by issuing this Letter of
Reprimand," without further affecting the listing or trading status of the
Company`s common stock on The NASDAQ Global Market.

John R. McGeeney, the Company`s General Counsel, stated, "We accept NASDAQ`s
determination that we should have obtained stockholder approval before
proceeding with the exchange offer. The Company`s Management and the Board are
committed to good governance practices, and the Company certainly would have
sought stockholder approval of the exchange if we had believed it was required.
We plan to amend our plan language to require explicit stockholder approval
prior to any future exchange, repricing or similar action."

Sypris Solutions is a diversified provider of technology-based outsourced
services and specialty products. The Company performs a wide range of
manufacturing and technical services, typically under multi-year, sole-source
contracts with major corporations and government agencies in the markets for
aerospace and defense electronics, truck components and assemblies, and test and
measurement services. For more information about Sypris Solutions, visit its Web
site at www.sypris.com.

Sypris Solutions, Inc.
Brian A. Lutes, Chief Financial Officer, 502-329-2000

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