ADVANCED
ELECTRONIC SUPPORT PRODUCTS, INC.
ANNOUNCES RECEIPT OF SEVERAL SIGNIFICANT NETWORKING
AND CONNECTIVITY ORDERS IN NORWAY
Miami, Florida – October 2, 2001
-- Advanced Electronic Support Products, Inc. (NASDAQ: AESP and AESPW) today announced that its Nordic distribution group has
received several orders to supply networking and connectivity products to be used in three
large projects in Norway. The amount of the orders, which will be fulfilled over the next
year, approximates $300,000.
Slav Stein, AESP’s President
commented: “These orders represent a major breakthrough for our Nordic operations, as
they evidence that AESP is recognized in Norway as a solution supplier for large
networking and connectivity projects. Additionally, if we are able complete our previously
announced proposed acquisition of Leteng AS, which is by no means assured and as to which
we have, to date, only entered into (with respect to this proposed acquisition) a
non-binding letter of intent, it will further expand our presence in the Nordic region as
a solution provider for active networking and cabling products for copper and fiber optic
based networks."
Mr.
Stein continued: “Our subsidiary, AESP Jotec AS, has received an order to supply both
networking and connectivity parts which will be used to provide server management and
remote access server control for Telenor ASA (NASDAQ: TELN). These active networking components will be used in
systems which will allow IT managers at Telenor to manage and control all of
Telenor’s more than 1,000 servers from their own workstations. Telenor is a Norwegian
telecommunications group with extensive and fast growing business operations in a number
of countries in Europe and Southeast Asia. The company is Norway's leading distributor of
voice, information, knowledge and entertainment through a broad range of modern
communications services.”
Roman Briskin, AESP’s Executive Vice President, added: “Our subsidiary, AESP Lanse AS, has also received two orders which we consider important. The first order is to provide connectivity products to be used in providing a structured cable broadband solution involving the latest Category 6 standards in the new main headquarters of one of Norway’s largest producers of hydroelectric power. In addition, Lanse has received an order to provide the connectivity products which will be used to provide the structural cabling system for the new $100 million dollar exhibition centre of the Norway Trade Fairs. This new facility is approximately 323,000 square feet encompassing three large exhibition halls. This installation will have 2,400 outlets that will provide for more than 1,000 exhibitors to connect their computers and telephones in the exhibition areas.”
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.
Signamax is a trademark of Advanced Electronic Support Products,
Inc. in the United States and/or other countries.
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.
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
(305) 944-7710