Sturm, Ruger & Company, Inc. Declares Quarterly Dividend
Southport, Connecticut, May 4, 2004

Sturm, Ruger & Company, Inc. (NYSE: RGR) announced today that its Board of Directors voted to declare a regular quarterly dividend of $0.20 per share on the Company’s issued and outstanding shares of common stock. This cash dividend will be paid on June 15, 2004 to stockholders of record as of June 1, 2004.

The Company’s earnings have not supported the $0.20 quarterly dividend for the past several quarters. However, in light of the Company’s current liquidity, the Board of Directors approved the $0.20 dividend.

Ruger was founded in 1949. Since 1950 it has never failed to show an annual profit and has never required financing from outside sources. The Company is the nation’s leading manufacturer of high-quality firearms for recreation and law enforcement, and a major producer of precision steel and titanium investment castings components for consumer industries. Ruger is headquartered in Southport, CT, with plants and foundries located in Newport, NH and Prescott, AZ.

Contact: Mr. Thomas A. Dineen
Treasurer and Chief Financial Officer
Sturm, Ruger & Co., Inc.
203-259-7843