Exhibit 99.1
                             [LOGO] TransTechnology
                                        corporation
                  engineered products for global partners (TM)


                                  PRESS RELEASE






FOR IMMEDIATE DISTRIBUTION

CONTACT: ROBERT L.G. WHITE
         PRESIDENT AND CEO
         TELEPHONE:  908-206-3700

--------------------------------------------------------------------------------
       TRANSTECHNOLOGY REPORTS EXTENSION OF REVOLVING CREDIT FACILITY TO
                                JANUARY 31, 2005

Union, New Jersey - August 2, 2004 - TransTechnology Corporation (NYSE:TT) today
reported that it had amended its financing agreement with The CIT Group Business
Credit, Inc., to extend the maturity date of the agreement from July 31, 2004,
to January 31, 2005, and to amend the covenant levels in the agreement to
reflect the period of the extension.

The credit agreement provides maximum borrowings of $8.0 million and is secured
by substantially all of the assets of the company. The company reported that as
of July 31, 2004, it had $1.6 million outstanding under the credit facility.

Joseph F. Spanier, Vice President, Treasurer and Chief Financial Officer, said,
"The facility with CIT has been in place since August 2002. Over the past year,
we have used the CIT facility on a limited basis, and we believe that it is
adequate to meet the credit needs of the company at this time."

TransTechnology Corporation (http://www.transtechnology.com) operating as
Breeze-Eastern (http://www.breeze-eastern.com) is the world's leading designer
and manufacturer of sophisticated lifting devices for military and civilian
aircraft, including rescue hoists, cargo hooks, and weapons-lifting systems. The
company, which employs approximately 180 people at its facility in Union, New
Jersey, reported sales of $64.6 million in the fiscal year ended March 31, 2004.



TransTechnology Corporation - August 2, 2004                         Page 2 of 2
Extension of Revolving Credit Facility to January 31, 2005

--------------------------------------------------------------------------------
                  INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

  CERTAIN STATEMENTS IN THIS PRESS RELEASE CONSTITUTE "FORWARD-LOOKING
  STATEMENTS" WITHIN THE MEANING OF THE SECURITIES ACT OF 1933, AS AMENDED, AND
  THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (THE "ACTS"). ANY STATEMENTS
  CONTAINED HEREIN THAT ARE NOT STATEMENTS OF HISTORICAL FACT ARE DEEMED TO BE
  FORWARD-LOOKING STATEMENTS.

  THE FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE ARE BASED ON CURRENT
  BELIEFS, ESTIMATES AND ASSUMPTIONS CONCERNING THE OPERATIONS, FUTURE RESULTS,
  AND PROSPECTS OF THE COMPANY. AS ACTUAL OPERATIONS AND RESULTS MAY MATERIALLY
  DIFFER FROM THOSE ASSUMED IN FORWARD-LOOKING STATEMENTS, THERE IS NO ASSURANCE
  THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE. FORWARD-LOOKING
  STATEMENTS ARE SUBJECT TO THE SAFE HARBORS CREATED IN THE ACTS.

  ANY NUMBER OF FACTORS COULD AFFECT FUTURE OPERATIONS AND RESULTS, INCLUDING,
  WITHOUT LIMITATION, THE RESULTS OF AUDITS AND INQUIRIES INTO THE COMPANY'S
  BUSINESS PRACTICES; THE COMPANY'S ABILITY TO COMPLETE THE REFINANCING OF ITS
  SENIOR AND SUBORDINATED CREDIT FACILITIES ON TERMS AND CONDITIONS ACCEPTABLE
  TO THE COMPANY; THE COMPANY'S ABILITY TO BE PROFITABLE WITH A SMALLER AND LESS
  DIVERSE BASE OF OPERATIONS THAT WILL GENERATE LESS REVENUE; THE COMPANY'S
  ABILITY TO SATISFY THE LISTING REQUIREMENTS OF THE NYSE OR ANY OTHER NATIONAL
  EXCHANGE ON WHICH ITS SHARES ARE OR WILL BE LISTED OR OTHERWISE PROVIDE A
  TRADING VENUE FOR ITS SHARES; THE VALUE OF REPLACEMENT OPERATIONS, IF ANY;
  DETERMINATION BY THE COMPANY TO DISPOSE OF ADDITIONAL EXISTING ASSETS; GENERAL
  INDUSTRY AND ECONOMIC CONDITIONS; EVENTS IMPACTING THE U.S. AND WORLD
  FINANCIAL MARKETS AND ECONOMIES; INTEREST RATE TRENDS; CAPITAL REQUIREMENTS;
  COMPETITION FROM OTHER COMPANIES; CHANGES IN APPLICABLE LAWS, RULES AND
  REGULATIONS AFFECTING THE COMPANY IN THE LOCATIONS IN WHICH IT CONDUCTS ITS
  BUSINESS; THE ABILITY OF THE COMPANY TO RENEW ITS COLLECTIVE BARGAINING
  AGREEMENT ON TERMS AND CONDITIONS ACCEPTABLE TO THE COMPANY; THE AVAILABILITY
  OF EQUITY AND/OR DEBT FINANCING IN THE AMOUNTS AND ON THE TERMS NECESSARY TO
  SUPPORT THE COMPANY'S FUTURE BUSINESS; AND THOSE SPECIFIC RISKS THAT ARE
  DISCUSSED IN THE COMPANY'S PREVIOUSLY FILED ANNUAL REPORT ON FORM 10-K FOR THE
  FISCAL YEAR ENDED MARCH 31, 2004.

  THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE PUBLICLY ANY FORWARD-LOOKING
  STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION OR FUTURE EVENTS.

--------------------------------------------------------------------------------



                                      #####