Miami, Florida, August 14, 2002- AESP, Inc. (formerly Advanced Electronics Support Products, Inc.) (NASDAQ: AESP ) today announced its results of operations for the three and six months ended June 30, 2002. Sales for the first six months of 2002 were $14.3 million, a decrease of $441,000 or 3.0%, compared with sales of $14.7 million for the same period last year. Sales for the second quarter of 2002 were $6.8 million, an increase of $284,000 or approximately 4.4%, compared with sales of $6.5 million for the same period in 2001. Sales for the 2002 periods were positively impacted in the three and six month period ended June 30, 2002 by $1.1 million and $2.1 million respectively from the Company’s Czech Republic operation, which was acquired in August 2001. The Company’s net loss for the three and six months of 2002 was $712,000 (a loss of $0.15 per diluted share) and $707,000 (a loss of $0.16 per diluted share), respectively, compared to a loss of $1.2 million (a loss of $0.32 per diluted share) and $1.2 million (a loss of $0.31 per diluted share) for the three and six months ended June 30, 2001.

The Company also announced that at its annual stockholders’ meeting, the Company shareholders approved a change in the Company’s corporate name to AESP, Inc.

Slav Stein, the Company’s President, stated: "Business conditions remain challenging for the Company. We are experiencing an ongoing weakness in the telecommunication and Datacom sectors, which continues to adversely affect our sales. Our results reflect the significant slow down in these two sectors worldwide. Many of our distributors have reduced their purchasing from us because of their reduced sales to their customers."

Mr. Stein continued, "Despite posting a significant loss in the second quarter, we continue to be enthusiastic about our prospects. We are aggressively rolling out products for the Signamax division which will provide our customers with new and advanced products for the fastest networking standards. Our AEM custom products division has an increased backlog of orders, and the resulting sales should occur in the last half of 2002. We have implemented this year the cost cutting measures which we believe are necessary to improve our operational efficiency and to sustain the Company during these difficult times. Even though we can not predict when the economy will turn around, we remain committed to our strategic long term direction. In addition, we continue to look for new acquisitions for each of our divisions. Based upon all the actions we are taking and our expectation that the economy will improve, we believe the Company will return to profitability in 2003."

AESP, Inc. designs, manufactures, markets and distributes network connectivity products under the brand name Signamax™ Connectivity Systems as well as customized solutions for original equipment manufacturers worldwide. The Company offers a complete line of active networking and premise cabling products for copper and fiber optic based networks, as well as computer connectivity products.

Safe Harbor Disclosure under the 1995 Securities Litigation Reform Act.
This news release contains forward-looking statements, which involve risks and uncertainties. The Company’s actual future results could differ materially from the results anticipated herein. For information regarding factors that could impact the Company’s future performance, see the Company’s future filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for 2001 and its quarterly report on Form 10-Q for the second quarter of 2002.