SOURCE: Aegis Industries, Inc.

March 27, 2007 16:30 ET

Aegis Industries Planned Subsidiary Announces Advisory Board Appointment

ROCKVILLE, MD -- (MARKET WIRE) -- March 27, 2007 -- Aegis Industries, Inc. (OTCBB: AGIN) ("Aegis" or the "Company") wishes to inform that it has been advised by Z5 Technologies regarding the appointment of Rear Admiral Richard A. Appelbaum, United States Coast Guard (ret.) to its Advisory Board.

As previously announced on March 20th, and disclosed in Aegis' report on Form 8K filed on the SEC's EDGAR website, Aegis Industries has signed a Letter of Intent ("LOI") with Z5 Technologies, LLC ("Z5") outlining the framework under which both parties plan to negotiate a formal, definitive merger, share purchase and exchange agreement.

Current appointees to Z5's Advisory Board include: Ambassador Thomas C. Ferguson, a senior Member of the Reagan and Bush Administrations; Mr. Steve Cooper, Senior VP, and CIO of Information Technology at the American Red Cross; Mr. Pierre J. Thuot, Senior VP, Technology Solutions Group at ManTech Incorporated and a former multi-mission NASA astronaut; and Everett Alvarez, Jr., a distinguished naval officer, lawyer, author, entrepreneur, and former government executive best known as the first American aviator shot down over North Vietnam and held as a POW for 8 1/2 years.

Joining this illustrious assembly, Admiral Appelbaum proudly completed thirty-five years of distinguished active service in the United States Coast Guard. During his career, he experienced a broad variety of shipboard and shore-based operational and administrative assignments, including command at sea and several positions within the field of law. He served on the East, West, and Gulf Coasts, The Great Lakes, overseas, and on the U.S. Coast Guard Academy faculty.

As a flag officer, Admiral Appelbaum commanded the Ninth (Great Lakes) and Eleventh (Pacific Southwest) Coast Guard Districts and the National Pollution Funds Center, which he created to manage the billion-dollar Oil Spill Liability Trust Fund established by the Oil Pollution Act of 1990, following the Exxon Valdez incident.

Additionally, Admiral Appelbaum served in Coast Guard Headquarters as the Chief of the Office of Navigation Safety and Waterway Services, and the Chief of the Office of Law Enforcement and Defense Operations (Chief of Operations). As such, he directed every major operational program of the Coast Guard. He was the capital resources director for all Coast Guard ships, boats, and aircraft (fixed and rotary wing), as well as several types of shore units and training facilities. Admiral Appelbaum had responsibility for over $2 billion in annual operating funds plus a capital plant valued at over $18 billion.

Admiral Appelbaum holds a Bachelor of Science degree (Engineering) from the U.S. Coast Guard Academy and a Juris Doctor degree from George Washington University (National Law Center).

Company President Paul Evancoe commented, "It is a real pleasure to welcome Admiral Appelbaum into the fold. As our companies grow together in the coming months, we are certain to benefit greatly from the experience and wisdom this Advisory Board brings to our team. We are very pleased by this announcement today."

About Z5 Technologies, LLC (www.z5technologies.com)

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 acquires the expertise to design, develop, and market, next generation intermediate force technologies backed by industry-leading R&D. The Company philosophy is based in the knowledge that better communication, tools and training result in a safer enforcement 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 develop leading edge 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

Contact Information