RISHON LEZION, Israel, Nov. 10, 2008 (GLOBE NEWSWIRE) -- B.O.S. Better Online Solutions Ltd. ("BOS" or the "Company") (Nasdaq:BOSC) (TASE:BOSC) a leading provider of comprehensive Mobile and RFID solutions for the enterprise and of Supply Chain Solutions, announced that its U.S. supply chain division, Summit Radio Corp. ("Summit"), received a notice from a strategic Latin American customer engaged in the aircraft industry of an approximately $10,000,000 increase to an existing frame agreement for the sale of components.
The initial agreement, announced on May 28, 2008, provides for a framework for orders by the customer potentially amounting to up to $25 million during an initial five-year term (until 2012). Following the increase, the agreement provides for a framework for orders by the customer potentially amounting to up to $35 million during the same period. The contract may be extended for additional five-year terms.
Shmuel Koren, BOS's President and CEO said: "This is great news. The increase of the scope of the agreement by this strategic customer reflects our proven ability in providing comprehensive supply chain solutions as well as Summit's exceptional reputation, in products and service, amongst leading customers in the global aircraft and aerospace industry.
Andrew Levi, Head of Supply Chain Solutions Americas commented: "This addition to our agreement further emphasizes our increasing strength as a supply chain leader in the military aerospace industry, helping our customers in consolidating their vendor base and providing greater efficiency."
About BOS
B.O.S. Better Online Solutions Ltd. ("BOS") was established in 1990. BOS's operations consist of:
(i) Fully integrated Mobile and RFID Solutions that are offered
either as stand alone products or as full Solutions combined of:
(a) Hardware Devices - A Mobile and RFID Infrastructure
with an automatic identification and data collection
equipment based on RFID and barcode technology; and
(b) Middleware - A variety of proprietary Servers intended
to receive data from Hardware, process it and transfer it
to the Software Applications; and
(c) Software Applications - PointAct application platform
for implementation of various business organizational
processes.
(ii) Supply Chain Solutions - reselling electronic systems and
components for security, and aerospace manufacturers.
BOS is traded on NASDAQ and on the Tel-Aviv stock exchange. Our website is www.boscorporate.com.
The forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of our being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS; and additional risks and uncertainties detailed in BOS's periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.