Contact Information: Contact: Pfeiffer High Investor Relations, Inc. Geoff High 303-393-7044
Law Enforcement Associates Appoints Interim Chief Executive Officer
| Source: Law Enforcement Associates
RALEIGH, NC--(Marketwire - August 31, 2009) - Law Enforcement Associates Corporation (LEA)
(OTCBB : LAWE ), the largest U.S.-based developer and manufacturer of
electronic surveillance equipment, today announced the appointment of Alan
Terry as interim president and chief executive officer. Terry, who holds a
master's degree from the Wharton School of the University of Pennsylvania,
joins LEA with an extensive background in executive management with several
successful companies. He replaces Paul Feldman, who has served as LEA's
president since 2001.
Anthony Rand, LEA's chairman, said, "Alan joins LEA with more than 20 years
of experience in business operations, financial management and product
marketing, and I am confident LEA will benefit from his efforts as interim
president and CEO. I have worked with Alan on several successful business
ventures, and have first-hand knowledge of his strong management abilities
and operational expertise."
Terry, 50, will preside as CEO for an indefinite period as he assesses the
strengths and opportunities of the company. He is a candidate to be named
by the board as the permanent chief executive.
Terry said, "LEA appears positioned to capitalize on a range of emerging
opportunities in its core law enforcement, security and military end
markets, as well as various ancillary industries. Our objective is to
enhance shareholder value by aggressively pursuing these prospects, while
concurrently maintaining our focus on operational efficiencies, outstanding
customer service and an active product development program. I look forward
to working closely with the board and the entire LEA team in our pursuit of
these objectives."
Rand added, "The board intends to support Alan by fully leveraging the
talent and extensive industry-related knowledge of our directors." Rand,
an LEA director since 2003 and the senate majority leader for the state of
North Carolina, serves on the LEA board with General James Lindsay, Joseph
Jordan, Martin Perry and former CEO Paul Feldman. General Lindsay, who has
served on the board since 2004, is a retired four star general who
commanded United States Special Operations Command. Since his retirement he
has served as a Senior Mentor with the Army's Battle Command Training
Program. Perry, a director since 2003, also is LEA's director of sales
and is a member of several law enforcement associations, including the
International Forensics Institute. Feldman, a director since 2003, is a
graduate of Duke University and a member of several industry organizations,
including the Corporate Advisory Board of the National Drug Enforcement
Officers Association, the American Society of Industrial Security, and the
Narcotic Officers Associations of North Carolina, Arizona, California and
Texas. Jordan, a director since 2004, is a partner in the accounting firm
of Jordan & Delaney LLP and a member of the American Institute of CPAs.
About Law Enforcement Associates Corporation
LEA is a leading security and surveillance technology Company that
manufactures and markets a diverse product line to the worldwide law
enforcement, military, security and corrections markets. The Company's
Audio Intelligence Devices (AID) division has been serving the law
enforcement sector for more than 30 years and is one of the most respected
names in the surveillance equipment industry. LEA's products are used by a
wide variety of government and non-governmental agencies, as well as public
and private companies. These include military bases, nuclear facilities,
embassies, government installations, oil refineries, United Nations and
NATO locations. LEA's products have been used at high-profile events such
as the Summer & Winter Olympics, Super Bowl, U.S. Golf Championship, and
the Democratic and Republican National Conventions. Its products include
the Under Vehicle Inspection System (UVIS), EDK123 (Explosive Detection
Kit), Bloodhound and Birddog GPS Tracking Systems, Graffiti Cam,
Letter-bomb Visualizer Spray, and a wide variety of Audio & Video
Surveillance Equipment. Headquartered in Raleigh, N.C., the Company has
been featured in many industry publications and websites. For more
information, please visit www.leacorp.com.
Forward-Looking and Cautionary Statements
This release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Among other things, these statements relate to our
financial condition, results of operations and future business plans,
operations, opportunities and prospects. In addition, we and our
representatives may from time to time make written or oral forward-looking
statements, including statements contained in filings with the Securities
and Exchange Commission and in our reports to stockholders. These
forward-looking statements are generally identified by the words or phrases
"may," "could," "should," "expect," "anticipate," "plan," "believe,"
"seek," "estimate," "predict," "project" or words of similar import. These
forward-looking statements are based upon our current knowledge and
assumptions about future events and involve risks and uncertainties that
could cause our actual results, performance or achievements to be
materially different from any anticipated results, prospects, performance
or achievements expressed or implied by such forward-looking statements.
These
forward-looking statements are not guarantees of future performance. Many
factors are beyond our ability to control or predict. You are accordingly
cautioned not to place undue reliance on such forward-looking statements,
which speak only as of the date that we make them. For description of
factors that may cause actual results to differ materially from such
forward-looking statements, see the Company's Annual Report on Form 10-K
for the year ended 2008, and other reports from time to time filed or
furnished to the Securities and Exchange Commission. We do not undertake
to update any forward-looking statement that may be made from time to time
by us or on our behalf.