Miami, Florida, November 14, 2001 - Advanced Electronic Support Products, Inc (NASDAQ: AESP and AESPW) today announced its results of operations for the three and nine months ended September 30, 2001. Sales for the first nine months of 2001 were $21.1 million, a decrease of $460,000 or 2.1%, compared with sales of $21.6 million for the same period last year. Sales for the third quarter of 2001 were $6.4 million, a decrease of $1.4 million or approximately 17.5%, compared with sales of $7.8 million for the same period in 2000. The Company’s net loss for the three and nine months of 2001 was $787,000 (a loss of $0.18 per diluted share) and $1.9 million (a loss of $0.50 per diluted share), respectively, compared to net income of $201,000 (a gain of $0.05 per diluted share) and $609,000 (a gain of $0.15 per diluted share) for the three and nine months ended September 30, 2000.

Slav Stein, the Company’s President, stated: "Our results continue to reflect a general economic slow down, particularly in the computer related networking and connectivity markets. The Company continues its effort to streamline operations and reduce cost and in that regard, we have reduced our work force by 20% since March 31, 2001. Included in this quarter’s loss was the non-cash elimination of the goodwill amounting to $331,000. This goodwill resulted from our 1997 acquisition of Focus Enhancement networking division. Due to the Company’s move to re-brand its active networking products to the "Signamax™ line" and other factors, we felt it was appropriate to write-down this goodwill during the third quarter. Overall, approximately $1.6 million of our $1.9 million net loss for the nine months ended September 30, 2001 involved non-cash items."

Mr. Stein continued, "Despite difficult market condition we continue our effort to develop our company through acquisition. In August, we successfully completed our acquisition of Intelek, s.r.o., a distributor and manufacturer of networking hardware and wireless networking products in the Czech Republic. The benefits of this acquisition are already being felt. However in November, we terminated our non-binding letter of intent in connection with our planned acquisition of Leteng AS, Norway, and do not intend to complete this proposed acquisition. We are continuing to look at other potential acquisitions in order to take advantage of market opportunities."

Advanced Electronic Support Products, 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.

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.