FOR IMMEDIATE RELEASE

ADVANCED ELECTRONIC SUPPORT PRODUCTS, INC.

ENTERS INTO NON-BINDING LETTER OF INTENT TO ACQUIRE L & M GMBH

Miami, Florida – January 28, 2002 -- Advanced Electronic Support Products, Inc. (NASDAQ: AESP and AESPW) today announced that it has entered into a non-binding letter of intent to acquire L & M GmbH, Straubing, Germany based distributor of network connectivity products, for a combination of stock and cash. The transaction is subject to various conditions, including the execution of a definitive purchase agreement, approval by the Boards of Directors of both companies, and approval by AESP’s lender. L & M had estimated revenues of $3.1 million and net loss $159,000, for the first eleven months of 2001 in accordance with U.S. generally accepted accounting principles. The acquisition is expected to be completed during the first quarter of 2002.

Slav Stein, the Company’s President, stated: “This acquisition will continue our efforts to more fully develop our European distribution business and expand the markets through which we sell our SignamaxÔ Connectivity system product lines of active and passive copper and fiber based networking solutions. L & M primarily sells its products to German companies involved in installations of LAN and WAN networks, and this acquisition, if it is completed, will increase our presence in the German market. L & M is an authorized partner for Siemens, reselling products for local area networks and multimedia projects in Germany. It is also a partner of Corning Corporation providing fiber optic solutions to the German market.”

Mr. Stein continued: “This acquisition will also have several strategic benefits for our company. First, it will allow us to achieve economies of scale in our German operations through the partial combination of our existing German operations with L & M. It will also add significantly to our management team in Germany, since the current owners of L & M, Mr. Wilfried Maas and Mr. Fritz Lachenschmidt, have agreed to sign five years employment contracts as part of this acquisition. Messrs. Maas and Lachenschmidt have extensive experience in the networking distribution field and excellent reputations in the industry.”

Advanced Electronic Support Products, Inc. designs, manufactures, markets and distributes network connectivity products under the brand name SignamaxÔ 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.

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AESP SIGNS NON-BINDING LETTER OF

INTENT TO ACQUIRE L&M GMBH PAGE 2

Safe Harbor Disclosure under the 1995 Private 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 filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-KSB for 2000.

Signamax is a trademark of Advanced Electronic Support Products, Inc. in the United States and/or other countries.

For further information, please contact:

Slav Stein, President & CEO

Roman Briskin, Executive Vice President

Roy D. Rafalco, Chief Financial Officer

Advanced Electronic Support Products, Inc.

1810 NE 144 Street

North Miami, Florida 33131