# Exhibit 99.6

(GRANT THORNTON LOGO)

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|Accountants and Business Advisors
|                                 
|                                  | April
  4, 2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                  | Mr. Brian Bullard
  Chief Accountant
  Division of Investment Management
  Securities and Exchange Commission
  100 F Street, N.E.
  Washington, DC 20549-5546                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                  | Re:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | National
  Presto Industries, Inc.  2005 Annual Report on Form 10-K
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                                                     
|                                  | Dear
  Mr. Bullard:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                  | You
  have requested in your letter to Tom Walters, dated March 28, 2006, that
  Grant Thornton LLP
  provide you the basis for issuing an unqualified opinion on the National
  Presto Industries, Inc.s (Company) 2005 Financial Statements. Further, you
  questioned why our Firm had not contacted
  you in advance of the Company filing its Form 10-K which contained our
  unqualified opinion. Per your request, we are providing this letter to
  answer those questions.                                                                                                                                                                                                                                                                            
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|                                  | Request to Contact the Staff                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                  | In your letter, you have
  referenced a conference call with legal counsel for the Company where you indicated that SEC staff believed
  professional standards would have prevented Grant Thornton from issuing an unqualified opinion on
  these financial statements...we requested that if Grant Thornton concluded it was able to issue an
  unqualified opinion, then we want to be informed of the basis for [that] conclusion prior to the Company
  filing its Form 10-K. We believe
  that the reference to financial statements in your conversation and
  subsequent letter refers to the Companys preparation and presentation
  of their Annual Financial Statements on a basis consistent with the
  requirements under Form 10-K of the 34 Act.
|                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                  | As we
  have separately communicated to you in telephone communications, we were not
  aware of the Staffs
  request to communicate with you regarding our conclusion as to the form of
  audit opinion we would issue on the
  Companys 2005 financial statements. Neither the Company nor its attorney told us of your request prior to the
  filing of the Form 10-K on March 16, 2006 nor did they tell us about this
  request subsequent to the filing. We first learned about this request upon
  the receipt of your letter dated March 28, 2006.                                                                                                                                                                                                       

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|------------------------------------------------------------- | ------------------------------------------------------ | 
|200 S. 6th Street 500 US Bank Plaza N 
  Minneapolis MN 55402
|T    612.332.0001                                             |                                                       
|F    612.332.8361                                             |                                                       
|W   www.grantthornton.com                                     | Confidential treatment requested by Grant Thornton LLP
|1                                                            
|Grant Thornton LLP
US member of Grant
Thornton International 

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Basis for Unqualified Opinion

The
following is a summary of the events and considerations that formed the basis
for our conclusion to issue an unqualified opinion.

Background

In 2005, we were retained by
the Audit Committee of the Company to perform an audit of the annual financial
statements and of the Companys internal control over financial reporting as contemplated by the Securities Exchange Act of
1934 (34 Act). In December 2005, we became aware of the court order directing
the Company to register under the Investment Company Act of 1940 (40
Act). In light of the Companys subsequent registration under the 40 Act, we
spoke with management and the Audit Committee to determine the Companys
reporting obligations.

Based on
conversations with Company management, we were aware that the Company had retained Mr. Martin
Lybecker as legal counsel to assist in addressing the 40 Act reporting requirements. In our
initial conversations with management and the Companys legal counsel, we discussed a number
of questions related to the form of any Investment Company Act filings including the
appropriate form of filing for the year ended December 31, 2005. Management and legal counsel
indicated that they would be initiating discussions with the SEC staff to attempt to obtain answers to such questions.
We confirmed with the Audit Committee chairman that the Audit Committee wanted us to continue to audit the Company as
an operating company under the 34 Act until instructed otherwise.

In early
February 2006, Grant discussed with the Company and its legal counsel Grants
ability to perform an
audit of the Company as required under the 40 Act. In those conversations, we indicated that the Company needed to resolve
several issues regarding 40 Act reporting requirements such as the
appropriate financial statements and periods to be presented and the valuation of subsidiaries, among other issues.

On
February 16, subsequent to the above discussions, we became aware that the SEC
staff (Investment
Management division) had sent an email to the Companys legal counsel on
February 15 stating that they would not object to the Company filing operating
company financial
statements presented on Form 10-K, provided that the filing include a pro forma
footnote containing the
investment company information. Pro forma information is generally presented in an unaudited footnote to give effect
to past or future transactions or events. When we received a copy of the email, we noted that it also included a
statement regarding the importance
of the Company filing all available financial information, unaudited or
audited, as an intermediate step in order to meet its filing deadline. We noted
that the email indicated that the dialogue
is anticipated to continue between the SEC staff, the Company and their representatives.

Subsequent
to receiving that February 15 email, the Company informed us that their legal counsel had continued
to discuss reporting issues with the SEC staff. We were informed that the SEC staff had indicated
that on many of the questions posed by the Companys legal counsel, they could not provide
an immediate answer and would need to get back to them.

Confidential treatment requested by Grant
Thornton LLP2

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In
early March, the Company stated to us that they believed based on discussions
with their legal counsel that they should continue to file operating
company statements without a pro forma footnote containing the investment company information. Therefore, they
prepared a footnote outlining their view as
to the appropriateness of their filing along with their views as to the status of
the communications with the SEC staff. The Companys legal counsel described
continued discussions he had with the Staff
that focused on the significant uncertainties surrounding the development of
financial information required of an investment company and the fact that until
those questions were resolved the Company could not begin to prepare such
statements. The Companys legal
counsel told us that the SEC staff would not object to the Companys filing their operating statements on Form 10-K without
inclusion of a pro forma footnote containing the 40 Act information until such time as the SEC responded to
questions on how to prepare the information.

On March 10, 2006 we held
discussions with the Companys Audit Committee and management on this matter. We revisited the key events and
discussions that had occurred since the Companys registration as an investment company. A substantial portion
of the discussion addressed the
conversations and correspondence between the Companys legal counsel and the SEC
staff and the status of those discussions. Management provided input as to the
findings, conclusions and recommendations
of legal counsel. Based on those discussions, management recommended and
the Audit Committee concurred that it would be appropriate for the Company to file the 2005 operating company statements
without including a pro forma footnote containing the 40 Act information as it
would not be possible at that time for the Company to prepare such information. The Audit Committee communicated to us
that they believed that the Company should
file their financial statements in compliance with the 34 Act requirements
without a pro forma footnote containing the 40 Act information, and that such
filings would not be deemed an illegal act. They indicated that they believed
that they had an obligation to provide financial information to their shareholders and filing as recommended by the
Companys legal counsel was in the best interests of the shareholders until an
agreement as to the form and substance of the 40 Act financial
information could be developed pursuant to advice from the SEC staff.

On March 13, the Companys
legal counsel provided written representation to the Company, acknowledging our
reliance on such representations, that the SEC staff would not object to the Companys filing their operating statements on Form
10-K without a pro forma footnote containing
the 40 Act information.

Accordingly,
we concluded that based on the above, we could issue an unqualified opinion on the operating company
statements included in the Form 10-K, however, based on the material
uncertainty related to the filing, we concluded that an emphasis of a matter
paragraph would be appropriate to call attention to the ongoing discussions
between the Company and the Staff. The form of the paragraph is as follows:

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| | As
  stated in Note I to the financial statements, pursuant to a federal court
  order the Company was required to register as an investment company under the
  Investment Company Act of 1940. The Company registered in December 2005. In
  January 2006, the Company filed an application to deregister. The timing of
  the Securities and Exchange Commissions (SEC) staff review of the application
  for deregistration is not known at

Confidential treatment requested by Grant
Thornton LLP3

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| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | this time. The Company has
  disclosed that discussions regarding its application for deregistration and its reporting obligations
  are ongoing with the SEC. In the interim, the Company has not filed the financial statements that would be required
  under the Investment Company Act of
  1940 nor has it included financial statements that would reflect the financial information of the
  Company as an investment company. The ultimate outcome of these matters and future actions of the SEC, if any, are
  not known at this time.

Conclusion

We
believed that our unqualified opinion was supported by generally accepted
auditing standards given, among other factors, the determination made by the
Company and their legal counsel as to the acceptability to the SEC of filing operating
company statements on Form 10-K on a transitional basis, and the fact that we
highlighted the material uncertainty regarding the requirement for
investment company statements in light of the ongoing discussions between the Staff and the Company. We
have held discussions with the Companys Audit Committee regarding the letters received and also their
views on the Companys response. We also note that in light of those
communications and recent follow-on discussions with the Staff, we will revisit
the issues highlighted in your March 28
letter.

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We look
forward to continued dialogue with the Staff regarding these matters and the development of those resolutions which are in
the best interest of the investors and compliance with securities laws.

Please
contact me at 612-677-5230, or our Senior Legal Counsel, Ken Cunningham at
312-602-8404 if you have any further questions or if I can provide any further
clarification on our understanding of the facts related to this situation.

Sincerely,

-s- Thomas C. Walters

Thomas
C. Walters 
Partner

|    |                                                                                                                                                                                                                         
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Cc: | John
  Archambault, Managing Partner, National Professional Standards Group, 
  Tracy Berry, Deputy General Counsel
  Ken Cunningham, Senior Legal Counsel 
  Michael Santay,
  Regional Partner, Professional Standards
|    |                                                                                                                                                                                                                         
|    | MaryJo
  Cohen, CEO, National Presto Industries, Inc. 
  Martin Lybecker, WilmerHale 
  Joseph Stienessen, Audit Committee Chair, National Presto Industries, Inc.                                                      

Confidential treatment
requested by Grant Thornton LLP
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