SOURCE: Aegis Industries, Inc.

March 05, 2007 08:00 ET

Aegis Industries Enters Into Merger Discussions With Z5 Technologies

ROCKVILLE, MD -- (MARKET WIRE) -- March 5, 2007 -- Aegis Industries, Inc. (OTCBB: AGIN) ("Aegis" or the "Company") wishes to advise that it has entered into merger discussions with Z5 Technologies, LLC ("Z5"), a Delaware Corporation, headquartered in Washington, DC.

Management's objective is to enter into a letter of intent stating that, upon completion of due diligence, the parties intend that Aegis and Z5 will negotiate a formal, definitive merger and share purchase and exchange agreement. Aegis would purchase all of the issued and outstanding shares of Z5, and the principals of Z5 would acquire an equity interest in Aegis. Both parties have indicated a desire to expedite matters to the best of their ability.

Company President Paul Evancoe stated, "We are very excited by the opportunities a merger with Z5 would bring. Their product line is a natural fit with our business philosophy and our plans for the future growth of the Company. Additionally, their management is top notch, and I see immediate benefits resulting from an integration of our teams. Overall, I think this represents really good news for both companies."

Additional information will be announced as it becomes available.

About Z5 Technologies, LLC (

Z5 Technologies is a leader in the deployment of ruggedized mobile command, control, and communications network solutions. The Company designs, integrates, and manufactures rugged, lightweight, man-portable products and solutions for instantaneous tactical communications. Products include the latest voice and data communications, mission command, security and mobile mesh networking technologies packaged into rugged tactical command solutions for deployment anywhere in the world. Z5's products and solutions enable mobile users to take control of the most challenging situations in the most challenging of environments.

About Aegis Industries, Inc. (OTCBB: AGIN)

Aegis Industries designs and develops safe, next-generation intermediate force protection, and enforcement products backed by industry-leading R&D. The Company philosophy is based in the knowledge that better tools and training result in a safer outcome with fewer injuries to officers, suspects, and bystanders. Management draws on extensive experience on the front lines combined with the most forward-thinking R&D to create leading-edge less-than-lethal intermediate force products designed to exceed the expectations of military, law enforcement, and private security customers.

Forward-Looking Statements

Except for statements of historical fact, the information presented herein may contain forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Aegis Industries, Inc. or Z5 Technologies, LLC has little or no control.

On Behalf of the Board

Aegis Industries, Inc.
Paul Evancoe, President

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