YOUNGSVILLE, N.C., July 17 /PRNewswire-FirstCall/ -- Law Enforcement Associates Corporation (LEA) (AMEX:AID), a leading provider of surveillance and security products to the global law enforcement, military, security and corrections markets, today announced its board of directors has approved a program to repurchase up to an aggregate of $100,000 of LEA's common stock. The repurchases would be made from time to time during the next 12 months.
Paul Feldman, president, said, "In light of our strong growth prospects and expanding product offering, our board believes our common stock is undervalued at current levels. It has therefore been determined that open- market purchases of our common stock may be a worthwhile use of a portion of our available capital." Stock purchases will be made in the open market and block trades will be permitted, both in accordance with Rule 10b-18 of the Securities Exchange Act of 1934. Share purchases under the program may be made at times and in such amounts management deems advisable and appropriate. The timing and the number of shares repurchased will depend on a variety of factors, including price, corporate and regulatory requirements and market conditions. The stock repurchase program may be terminated at any time without prior notice. The company will not purchase shares owned by members of the board or affiliates of LEA. All shares purchased by the company pursuant to the program will be cancelled.
About Law Enforcement Associates 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 also 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 GPS Tracking System, Letter-bomb Visualizer Spray, and a wide variety of Audio & Video Surveillance Equipment. Headquartered in Youngsville, N.C., the company has been featured in many industry publications and websites. For more information, please visit http://www.leacorp.com/.
Forward-Looking Information: The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sales, or the lack of acceptance of the company's products by its customers. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized. DATASOURCE: Law Enforcement Associates Corporation CONTACT: Geoff High of Pfeiffer High Investor Relations, Inc., +1-303-393-7044, for Law Enforcement Associates Corporation Web site: http://www.leacorp.com/
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