SOURCE: Law Enforcement Associates

October 22, 2007 08:00 ET

Law Enforcement Associates Acquires Select Assets of Advanced Vehicle Systems LLC

Assets of Surveillance Vehicle Manufacturer Represent Strategic Addition to LEA's Intellectual Property Portfolio

YOUNGSVILLE, NC--(Marketwire - October 22, 2007) - Law Enforcement Associates Corporation (LEA) (AMEX: AID), the largest U.S. developer and manufacturer of undercover surveillance equipment, today announced it has acquired select assets of Advanced Vehicle Systems LLC (AVS), which designs and assembles specialized surveillance vehicles for local, state and federal organizations, as well as international law enforcement agencies.

The assets, which include the designs, drawings and intellectual property rights of AVS, were acquired for 375,000 shares of LEA's restricted common stock. These assets at one time were part of the surveillance vehicle business of Audio Intelligence Devices (AID). LEA acquired certain assets of AID in 2004, however, the surveillance vehicle assets were not included, and were subsequently operated under the AVS name.

"AID's former surveillance van business was widely regarded as the leading provider in the surveillance vehicle sector," said Mark White, LEA's senior vice president of technical operations. White, who served as a vice president at AID prior to its acquisition by LEA, said that AID's former surveillance van operation was a key supplier to many local and state-based organizations, as well as multiple federal agencies. "The re-establishment of our surveillance vehicle business represents an important enhancement to the LEA product offering, and should be particularly beneficial to our customers in the Homeland Security arena."

Paul Feldman, president of LEA, said the acquisition could result in meaningful new revenue streams from both new vehicle sales as well as retrofits and equipment upgrades on previously sold vans. New vehicles typically range in price from $75,000 to more than $200,000. LEA estimates there are more than 500 of the original AID vans currently operating in domestic and international markets.

"This is an ideal fit with our core business," Feldman said. "We have made dramatic improvements and extensions to our AID product line in recent years, and believe these enhancements will be valuable to existing owners of vehicles that incorporate early generation AID surveillance devices. In addition, we intend to leverage our marketing organization and vast customer network to significantly enhance the sales efforts behind these specialized vehicles."

Feldman said LEA is ready to commence work on orders that were in process when the acquisition was completed. "We will hit the ground running with existing customers, and look forward to building on this early momentum."

About Law Enforcement Associates Corporation

LEA is a leading security and surveillance technology company that manufactures and markets a diverse product line to the worldwide law enforcement, military, security and corrections markets. The company's Audio Intelligence Devices (AID) division has been serving the law enforcement sector for more than 30 years and is one of the most respected names in the surveillance equipment industry. LEA's products are used by a wide variety of government and non-governmental agencies, as well as public and private companies. These include military bases, nuclear facilities, embassies, government installations, oil refineries, United Nations and NATO locations. The company enjoys close working relationships with other prominent players in the security and surveillance industry, such as Smith & Wesson (NASDAQ: SWHC), one of the world's largest manufacturers of quality firearms and firearm safety/security products; and FLIR Systems, Inc. (NASDAQ: FLIR), a world leader in the design, manufacture and marketing of thermal imaging and stabilized camera systems. LEA's products have been used at high-profile events such as the Summer & Winter Olympics, Super Bowl, U.S. Golf Championship, and the Democratic and Republican National Conventions. Its products include the Under Vehicle Inspection System (UVIS), EDK123 (Explosive Detection Kit), Bloodhound GPS Tracking System, Letter-bomb Visualizer Spray, and a wide variety of Audio & Video Surveillance Equipment. Headquartered in Youngsville, N.C., the company has been featured in many industry publications and websites. For more information, please visit www.leacorp.com.

Forward-Looking Information:

The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sales, or the lack of acceptance of the company's products by its customers. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.

Contact Information

  • CONTACT:
    Pfeiffer High Investor Relations, Inc.
    Geoff High
    303-393-7044