# Exhibit 99.12

(GRANT THORNTON LOGO)

Accountants and Business Advisors

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| | April
  21, 2006                                                                                                      
| |                                                                                                                       
| | Mr.
  Joseph G. Stienessen, Audit Committee Chairman                                                                  
| | Ms.
  Maryjo Cohen, Chairman and Chief Executive Officer                                                              
| | Mr.
  Randy F. Lieble, Chief Financial Officer                                                                        
| | National
  Presto Industries Inc.,                                                                                    
| | 3925
  North Hastings Way                                                                                             
| | Eau
  Claire, WI 54703                                                                                                
| |                                                                                                                       
| | SENT
  VIA EMAIL AND OVERNIGHT MAIL                                                                                   
| |                                                                                                                       
| | Dear
  Mr. Stienessen, Ms. Cohen, and Mr. Lieble:                                                                     
| |                                                                                                                       
| | Pursuant
  to Item 4.02 (c)(2) of Form 8-K, attached please find our response to your
  Form 8-K filed April 19, 2006.

(GRANT THORNTON LLP)

1901 S. Meyers Road
Suite 455
Oakbrook Terrace, IL
60181T630.873.2500F630.873.2800Wwww.grantthornton.com

Grant
Thornton LLPUS
member of Grant Thornton International

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(GRANT THORNTON LOGO)

Accountants
and Business Advisors

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| | April
  21, 2006                                                                                                                                                                                                                                                                                                                                                                                                                    
| |                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | U. S.
  Securities and Exchange Commission                                                                                                                                                                                                                                                                                                                                                                                          
| | Office
  of the Chief Accountant                                                                                                                                                                                                                                                                                                                                                                                                    
| | 100 F
  Street, N.E.                                                                                                                                                                                                                                                                                                                                                                                                                
| | Washington,
  DC 20549-5546                                                                                                                                                                                                                                                                                                                                                                                                         
| |                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | Re:                                                                                                                                                                                                                                                                                                                                                                                                                                  | National
  Presto Industries, Inc. 
  File
  No. 1-2451
| | Dear
  Sir or Madam:                                                                                                                                                                                                                                                                                                                                                                                                                
| |                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | We
  have read the statements made by National Presto Industries, Inc. (National
  Presto or the Company) which was filed with the Commission pursuant to
  Item 2 and 4 of Form 8-K as part of the Companys Form 8-K report dated April 19,
  2006. We disagree with certain statements concerning our Firm in such Form
  8-K. We believe that National Presto should supplement or amend their Form
  8-K filing as follows.
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| | Grant
  Thornton LLP (Grant Thornton or Grant) disagrees with the statement that
  the Company
  received notice of non-reliance on our audit opinions on April 13, 2006. We communicated such
  notice to National Presto and to the Chairman of its Audit Committee by telephone
  conversations and by letter sent via facsimile on April 12, 2006 in addition
  our letter was sent by overnight mail on that same date.    
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| | Grant
  Thornton also disagrees with the Companys characterization of the reasons
  for Grants
  notice of non-reliance. Our notice of non-reliance was based on the fact that
  certain
  information had not previously been provided to us and representations that
  had been made to us were not accurate. As we stated, in part, in our April
  12, 2006 letter:                                                            

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| | During
  the course of our audit, National Prestos counsel affirmatively represented to us that he had direct
  conversations with the staff of the SEC regarding
  the proper form of financial filing following the Companys registration under the Investment Company Act of 1940.
  Counsel represented in writing that the
  SEC staff would not object to National Presto filing its financial statements
  as an operating company on Form 10-K without the inclusion of a footnote with
  pro forma financial statement information consistent with investment
  company financial reporting requirements pursuant to Article 6 of Regulation
  S-X and Form N-CSR. Following the filing
  of the Form 10-K however, the SEC staff communicated in writing to Grant Thornton that the Companys financial statement
presentation did not comply with the
  conditions under which they would
  not object. Further, the Staff believes that the Companys financial

1901 S. Meyers Road
suite 455
Oakbrook Terrace, IL
60181T630.873.2500F630.873.2800Wwww.grantthornton.com

Grant
Thornton LLPUS
member of Grant Thornton International

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(GRANT THORNTON LOGO)

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| | statement presentation in its Form 10-K has no basis in authoritative generally accepted
  accounting principles given the Companys registration as an investment company.

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| | Grant
  Thornton further disagrees with the Companys statement in the Form 8-K that indicates that Grant
  failed to apply investment company accounting principles as the basis of the operating
  company audit. We believe this statement does not appropriately reflect that it is
  the Companys responsibility to determine the applicable accounting principles under which
  it will report. Further, we believe that the statement related to our audit procedures as an
  operating company audit is confusing and has no basis in professional
  standards.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | We
  note that the Companys Item 4.02(b) disclosure does not specifically
  identify, as required by paragraph (b)(2) of that Item, the Companys financial
  statements that can no longer be relied upon. We believe this disclosure
  should also state that our April 12, 2006 letter also communicated that our audit report
  on National Prestos Internal Control over Financial Reporting as of December
  31, 2005 should no longer be relied upon.                                                                                                              
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| | Finally, Grant Thornton further
  disagrees with the Companys characterization of the matters included
  in the letter dated April 11, 2006 that Grant received from the SEC staff.
  That letter requested us to indicate to the staff whether we would withdraw
  our opinion(s) but did not include any
  statements by the SEC staff indicating why such a withdrawal would be required, as currently implied in the
  Companys Form 8-K.                                                                                                                             

(GRANT THORNTON LLP)

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