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  • 9/28/2007 6:00:33 AM ETNews Release Index 

    Allen-Vanguard Corporation announces $12.2 million spares order for U.S. Department of Defense for Electronic Counter Measures equipment
     
    OTTAWA, Sep. 28, 2007 (Canada NewsWire via COMTEX News Network) --

    Allen-Vanguard Corporation ("Allen-Vanguard" or the "Company") (TSX:VRS) announced today that it has received an order for a U.S. Department of Defense ("DoD") customer for $12.2 million to supply spares in support of the Company's existing in-service electronics counter measures ("ECM") equipment. All amounts are in Canadian dollars unless otherwise specified.

    "We are very pleased at the commitment this DoD customer has made to in-service support of our ECM equipment," said David E. Luxton, President and CEO. "This order is one example of the potential for recurring revenue from our growing installed base of ECM equipment."

    The Company stated that it expects to complete delivery of the order by the end of its third quarter in fiscal 2008.

    About Allen-Vanguard

    Allen-Vanguard Corporation supports the mission of military and homeland security forces around the world with leading proprietary solutions for protection and counter-measures against hazardous devices of all kinds, whether chemical, biological, radiological or explosive ("CBRNE"), including improvised explosive devices ("IEDs") and remotely controlled IEDs ("RCIEDs"). Allen-Vanguard equipment is in service in more than 120 countries. Products include Electronic Counter-Measures ("ECM") equipment for jamming remote detonation of terrorist devices, specialty security equipment for Explosive Ordnance Disposal ("EOD"), remote intervention robots for hazardous applications, and personal protective wear for use in dealing with explosive and bio-chemical agents. Allen-Vanguard is the developer and/or sole, worldwide licensee of proprietary technologies such as the Med-Eng bomb suit, the DefenderTM and Vanguard TM Mk2 bomb disposal robots, and the Universal Containment System and CASCAD Foam system for blast mitigation and decontamination of bio-chemical warfare agents. Professional services encompass counter-IED intelligence, training and advisory services, including the TritonTM Report on terrorist incidents around the world. The Company operates globally through its wholly-owned subsidiaries under the names "Allen-Vanguard", "Med-Eng" and "Hazard Management Solutions". Head office operations are located in Ottawa, Ontario, Canada, with manufacturing operations in Stoney Creek and Pembroke, Ontario; Ogdensburg, New York; Tewkesbury, U.K.; and Cork, Ireland; The Company has professional services operations in Shrivenham, UK, Canada and in the U.S. in Arlington, Virginia, plus sales offices in Canada, the U.S., the U.K. and Asia. Allen-Vanguard's shares are listed on The Toronto Stock Exchange (TSX) under the symbol "VRS".

    This press release may contain forward-looking statements, which reflect Allen-Vanguard's current expectations regarding future events, its strategy, expected performance and condition. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "plans," "believes," "estimates" or negative versions thereof and similar expressions. In addition, any statement that may be made concerning future performance, strategies or prospects, and possible future acquisitions or dispositions, is also a forward-looking statement. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company and economic factors. Forward-looking statements are not promises or guarantees of future performance, and actual events and results could differ materially from those expressed or implied in any forward-looking statements made about the Company. Any number of important factors could contribute to these digressions, including, but not limited to, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, and catastrophic events. We stress that the above-mentioned list of important factors is not exhaustive. We encourage you to consider these and other factors carefully before making any investment decision and we urge you to avoid placing undue reliance on forward-looking statements. Further, you should be aware that the Company disclaims any obligation to publicly update or revise any such forward-looking statements whether as a result of new information, future events or otherwise, prior to the release of the next Management Discussion and Analysis to be released by the Company or except as required by law.

    To find out more about Allen-Vanguard Corporation (TSX: VRS), visit our website at www.allen-vanguard.com.

    %SEDAR: 00018026E

    SOURCE: ALLEN-VANGUARD CORPORATION

    David Luxton, (613) 288-5555

    Copyright (C) 2007 CNW Group. All rights reserved.

    News Release Index





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