FOR IMMEDIATE RELEASE

CONTACT: Leslie Cummings, Vice President of Finance and Treasurer

Knape & Vogt Manufacturing Company (616) 459-3311, Ext. 225

or

Jeff Lambert, Paula MacKenzie (616) 233-0500

Lambert, Edwards & Associates, Inc. (mail@lambert-edwards.com)

Knape & Vogt Reports Improved First-Quarter Results

GRAND RAPIDS, Michigan, October 16, 2003 – Bolstered by strong sales of new products, Knape & Vogt Manufacturing Co. (Nasdaq: KNAP) today announced higher net sales and net income for its first quarter ended September 27, 2003.

The Grand Rapids, Mich.-based manufacturer and distributor of drawer slides, shelving, storage and ergonomic office products reported that net sales increased 16.5 percent to .1 million for the first quarter of fiscal 2004, compared with net sales of .0 million during the same period a year ago. KV reported that net income increased to 9,875, or .15 per share, for the just-completed quarter, from 4,963, or .04 per share, during the same period in fiscal 2003.

The Company attributed the strong sales gains to new products introduced during the past year, which accounted for .5 million of sales in the quarter. New products from KV’s Home and Commercial Products and Office Products divisions – including the Shelf Made™ Instant Shelf, a line of decorative display ledges, the 4x4™ precision slides and the heavy duty 8800™ slide with patented interlock feature– allowed KV to increase sales to existing customers and add new customers.

“During the first quarter, we saw growth in almost all of the markets we serve, including the office furniture segment where we are outpacing the industry,” said Bill Dutmers, chairman and CEO. “While the office furniture industry reported a slight decline in shipments for the months of July and August, we were successful in growing our sales to both the original equipment manufacturer channel and the dealer channel. New products, including those designed for specific customer needs such as the various 8400 precision slide applications, allowed us to grow sales and gain market share.”

“We intend to build on our recent success by accelerating our product development initiatives in the coming year,” Dutmers continued. “New products, increased customer service and the expansion of our sales force will be key elements in our drive to win additional market share.

“We continue to challenge ourselves to bring innovative products and services to our customers. In fact, we have expanded our ability to provide vendor managed inventory services to more of our customers in several of the markets that we serve. We firmly believe that our focus on value-added products and services is the reason for our current growth and will position KV for the future.”

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Knape & Vogt, page 2 of 2

About Knape & Vogt

Knape & Vogt Manufacturing Co. brings more than a century of experience to the design, manufacture and distribution of kitchen and bath storage solutions and office products for original equipment manufacturers, specialty distributors, office furniture dealers, hardware chains and major home centers throughout the country. Additional information on KV’s product lines is available on www.knapeandvogt.com.

Cautionary Statement: This press release contains certain forward-looking statements that involve risks and uncertainties. When used in this release, the words “believe,” “anticipates,” “think,” “intend,” “optimistic,” “forecast,” “expect” and similar expressions identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning future improvements in net sales, margins and profitability. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and prices. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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Knape & Vogt Manufacturing Company and Subsidiaries

Condensed Consolidated Statements of Income

(Unaudited)

Three Months Ended

	Sept. 27, 2003		Sept. 28, 2002
Net sales...........................................................	,125,237		,998,184
Cost of sales....................................................	28,960,702		23,944,254
Gross margin....................................................	7,164,535		7,053,930
Selling and administrative expenses............	5,900,448		6,150,441
Other.................................................................	-		271,325
Operating income............................................	1,264,087		632,164
Interest and other expenses, net .................	392,929		319,046
Income before income taxes..........................	871,158		313,118
Income taxes....................................................	201,283		118,155
Net income.......................................................	$ 669,875		$ 194,963
Earnings per common share – basic and diluted: Weighted average shares outstanding	4,515,925		4,517,458
Net income per share......................................	$ .15		$ .04
Cash dividend - Common stock....................	$ .165		$ .165
Cash dividend - Class B common stock.......	$ .15		$ .15

Knape & Vogt Manufacturing Company and Subsidiaries

Condensed Consolidated Balance Sheets

(Unaudited)

	Sept. 27, 2003		Sept. 28, 2002
Assets Current Assets:
Cash………………...........................................…	$ 3,813,471		$ 6,029,634
Accounts receivable, net...............................…….	20,389,533		15,218,213
Inventories...................................................…….	18,329,561		14,058,718
Prepaid expenses.............................................…….	584,212		1,620,564
Total current assets.........……......................…….	43,116,777		36,927,129
Property, plant and equipment, net...............…….	32,535,673		35,973,726
Other assets................................................……...	17,515,442		13,423,221
	93,167,892		86,324,076
Liabilities and Equity
Current liabilities..........................................……	19,646,798		19,021,791
Long-term debt and capital leases................…….	25,235,525		20,000,000
Deferred income taxes & other long-term liabilities...................................……..	13,332,358		12,250,356
Stockholders’ equity......................................……	34,953,211		35,051,929
	$ 93,167,892		$ 86,324,076

Knape & Vogt Manufacturing Company and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Three Months Ended

		Sept. 27, 2003		Sept. 28, 2002
From Operating Activities:
Net income............................................……...		$ 669,875		$ 194,963
Depreciation and amortization…...............…..		1,630,766		1,751,461
Decrease in prepaid pension expense………….		85,825		46,367
Increase (decrease) in deferred taxes…………		354,373		(60,000	)
Severance accrual…………………………….		-		271,325
Loss on disposal of fixed assets…...............…..		26,661		56,569
Changes in operating assets & liabilities....................................……..		(2,792,436	)	(103,847	)
Other, net.................................….......……….		(21,025	)	45,761
Net cash provided by (used for ) operating activities..…………………………………..		(45,961	)	2,202,599
From Investing Activities:
Additions to property, plant & equipment net.…………..		(440,487	)	(1,014,967	)
Proceeds from sales of property, plant & equipment……………………………….		800		215,527
Other, net............................................……..		(17,765	)	-
Net cash used for investing activities..…..		(457,452	)	(799,440	)
From Financing Activities:
Cash dividends paid..........…..……..........…. Net change in long-term debt/capital leases...		(712,174 1,185,920	)	(711,846 -	)
Net cash provided by (used for) financing activities………………………………………..		473,746		(711,846	)
Effect of Exchange Rates on Cash................……….		(3,473	)	(92,222	)
Net increase (decrease) in cash & equivalents........		$ (33,140	)	$ 599,091