FOR IMMEDIATE RELEASE

CONTACT: Leslie Cummings, Vice President of Finance and Treasurer

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

or

Jeff Lambert or Paula MacKenzie (616) 233-0500

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

Knape & Vogt Reports Second-Quarter Results

GRAND RAPIDS, Michigan, January 9, 2003 – Knape & Vogt Manufacturing Co. (Nasdaq: KNAP) today announced the results of its second quarter ended December 28, 2002.

The Grand Rapids, Mich.-based manufacturer and distributor of drawer slides, shelving, storage and ergonomic office products posted net sales of .2 million for the second quarter of fiscal 2003, compared with net sales of .2 million during the same period a year ago. Knape & Vogt's (KV's) Home and Commercial Products division had relatively stable net sales in the current quarter when compared to the same period in the prior year. However, this was offset by a sales decline in its Office Products division due to the continued downturn in the office furniture industry. According to the Business and Institutional Furniture Manufacturers' Association (BIFMA), industry sales for the months of October and November 2002 declined approximately 10%.

KV reported net income of .9 million, or .19 per diluted share, for the just-completed quarter, compared with net income of .7 million, or .16 per diluted share, during the same period in fiscal 2002. During the second quarter of fiscal 2003, the Company announced that it had been successful in resolving certain legal matters. As a result, the second-quarter net income for fiscal 2003 included a gain of .5 million or .12 per diluted share. Excluding the gain, the decline in net income on a year over year basis reflects KV's continued investment in developing and bringing new products to market, combined with its efforts to introduce its new brand of Real Solutions for Real Lifeäkitchen and bath storage products.

"We are still facing a difficult economic environment in the office furniture market," said Bill Dutmers, chairman and CEO. "Although this has been a challenging couple of years in that particular market, we are seeing some positive signs in the form of new opportunities with our original equipment manufacturing customers and increased activity in the office furniture dealer channel. Many of our new products, such as the Keynetixä2 adjustable keyboard and the Mantisäflat-screen monitor arm, have been widely accepted in the dealer channel."

-- more --

Knape & Vogt, page 2 of 3

"While our Home and Commercial Products division sales were stable when compared to the prior year, there are a number of initiatives underway, which we believe will help grow this division. During the second quarter of fiscal 2003, we implemented a vendor managed inventory program with one of our large customers. We are also exploring ways to expand this program to other customers and believe that these types of programs set us apart and clearly demonstrate our commitment to partnering with our customers."

"Such innovative services, combined with our new products, enabled us to earn a three-year contract renewal with one of our largest retail customers, which involved adding several of our new products to their offering."

For the first six months of fiscal 2003, KV reported net income of .0 million, or .23 per diluted share, on net sales of .2 million, compared with net income of .7 million, or .36 per diluted share, on net sales of .2 million for the first six months of fiscal 2002. The decline in sales for the first six months of the year was due to the implementation of a consignment program in the Home and Commercial Products division, combined with sluggish sales in the Office Products division. During the first five months of the current fiscal year, the BIFMA reported that office furniture sales were down approximately 13 percent.

KV's gross margin was 22.3 percent, as a percentage of net sales, for the first six months of fiscal 2003, compared to 21.9 percent for the same period in fiscal 2002. The Company reported that selling and administrative expenses increased to 18.1 percent during the first half of fiscal 2003, compared to 16.9 percent during the first six months of fiscal 2002. The increase from the prior year was due to the higher selling costs associated with the ergonomic product line combined with the Company's advertising and marketing costs incurred to launch new products in both of its divisions.

For the first six months of fiscal 2003, KV reported that new products accounted for .2 million in sales, compared with .4 million in the year-ago period.

"We are committed to growing our Company through the development of innovative new products and partnering with our customers," Dutmers said. "We are also exploring new opportunities within our existing sales channels as well as targeting new markets for our products."

"At the same time, we remain focused on managing our cash and have been successful in increasing our cash on hand by over .0 million when compared to December of last year. During this same twelve-month period, we have returned over .8 million in cash to our shareholders in the form of our quarterly dividends and .7 million in the form of share repurchases."

About Knape & Vogt

Knape & Vogt Manufacturing Co. brings more than a century of experience to the design, manufacturing 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.

-- more --

Knape & Vogt, page 3 of 3

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.

Knape & Vogt Manufacturing Company and Subsidiaries

Condensed Consolidated Statements of Income

(Unaudited)

Six Months Ended Three Months Ended

	Dec. 28, 2002	Dec. 29, 2001	Dec. 28, 2002	Dec. 29, 2001
Net sales...........................................................	,218,080	,242,959	,219,890	,153,767
Cost of sales....................................................	47,583,496	50,147,613	23,639,237	24,288,502
Gross margin....................................................	13,634,584	14,095,346	6,580,653	6,865,265
Selling and administrative expenses............	11,071,891	10,853,633	4,921,448	5,394,250
Severance costs..............................................	271,325	-	-	-
Operating income............................................	2,291,368	3,241,713	1,659,205	1,471,015
Other expense..................................................	636,677	707,585	317,477	331,515
Income before income taxes..........................	1,654,691	2,534,128	1,341,728	1,139,500
Income taxes....................................................	608,000	884,000	490,000	395,000
Net income.......................................................	$ 1,046,691	$ 1,650,128	$ 851,728	$ 744,500
Earnings per common share – basic and diluted: Weighted average shares outstanding	4,517,472	4,606,942	4,517,480	4,596,920
Net income per share....................................	$ .23	$ .36	$ .19	$ .16
Cash dividend - Common stock....................	$ .33	$ .33	$ .165	$ .165
Cash dividend - Class B common stock.......	$ .30	$ .30	$ .15	$ .15

Knape & Vogt Manufacturing Company and Subsidiaries

Condensed Consolidated Balance Sheets

(Unaudited)

	December 28, 2002		December 29, 2001
Assets Current Assets:
Cash & equivalents...........................................…	$ 6,673,395		$ 2,554,741
Accounts receivable, net...............................…….	14,489,652		15,429,345
Inventories...................................................…….	13,890,279		14,184,583
Other............................................................…….	1,175,221		1,474,355
Total current assets.........……......................…….	36,228,547		33,643,024
Property, plant and equipment, net...............…….	34,684,566		39,622,695
Other assets................................................……...	13,430,441		10,970,772
	$ 84,343,554		$ 84,236,491
Liabilities and Equity
Current liabilities..........................................……	$ 16,598,926		$ 17,722,010
Long-term debt.............................................…….	20,000,000		20,000,000
Deferred income taxes & other long-term liabilities...................................……..	12,585,245		10,229,203
Stockholders' equity......................................……	35,159,383		36,285,278
	$ 84,343,554		$ 84,236,491

Knape & Vogt Manufacturing Company and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Six months ended		December 28, 2002		December 29, 2001
From Operating Activities:
Net income............................................……...		$ 1,046,691		$ 1,650,128
Depreciation and amortization…...............…..		3,552,611		3,744,658
Loss on disposal of fixed assets…...............…..		87,615		228,123
Changes in operating assets & liabilities....................................……..		(855,273	)	1,545,628
Other, net.................................….......……….		332,682		3,022
Net cash provided by operating activities..………..		4,164,326		7,171,559
From Investing Activities:
Additions to property, plant & equipment net.…………..		(1,634,228	)	(2,411,167	)
Proceeds from sales of property, plant & equipment		243,527		1,485,158
Other, net............................................……..		(21,411	)	(10,676	)
Net cash used for investing activities..…..		(1,412,112	)	(936,685	)
From Financing Activities:
Cash dividends declared..........…..............…. Net change in long-term debt…………….... Repurchase and retirement of common stock……………………………………..		(1,423,152 - (5,934	) )	(1,450,759 (3,750,000 (502,384	) ) )
Net cash used for financing activities....…………...		(1,429,086	)	(5,703,143	)
Effect of Exchange Rates on Cash................……….		(80,276	)	(90,930	)
Net increase in cash & equivalents................……….		$ 1,242,852		$ 440,801