Frequency Electronics Names New Director
MITCHEL FIELD, N.Y.--(BUSINESS WIRE)--Dec. 9, 2004--Frequency Electronics, Inc. (AMEX:FEI) announced today that Mr. Richard Schwartz has been appointed to the Board of Directors of the Corporation. In making this announcement, Chairman of the Board General Joseph Franklin said: "We are very pleased to have Dick Schwartz join our Board. He has had a brilliant career in industry and brings a wealth of experience and expertise that will be a great asset to our business and to Frequency Electronics' corporate governance."
Richard Schwartz began his career with Rockwell in 1957, rising to President of the Rocketdyne Division in 1983. He led many of Rockwell's most successful space and satellite programs, including the first flights of the Global Positioning System and the NASA Space Shuttle. In 1990 he was named President of Hercules Aerospace and Executive Vice President of the Hercules Corporation, where he also served on the Board of Directors. In 1995 he became Chief Executive Officer and later Chairman of ATK, a $1.1 billion company that builds precision weaponry for the US Government. He retired from ATK in 2000 and presently serves on the Board of Directors of Astronautics Corporation of America. He is a Trustee and Chairman of the Finance Committee of Cooper Union in New York City, where he earned his Bachelor of Engineering Degree. He also holds an MBA degree from Pepperdine University, and lives in Thousand Oaks, California.
About Frequency Electronics
Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high-technology frequency, timing and synchronization products for voice, video and data telecommunications delivered by satellite or terrestrial means for both commercial and DOD customers. The Company's technologies provide unique solutions that are essential building blocks for the next generation of broadband wireless and fiber optic communications systems, for critical defense applications and for the ongoing expansion of existing wireless and wireline networks. Additional information is available on FEI's website: www.frequencyelectronics.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements in this press release regarding the future constitute "forward-looking" statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, inability to integrate operations and personnel, actions by significant customers or competitors, general domestic and international economic conditions, consumer spending trends, reliance on key customers, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, competitive developments, changes in manufacturing and transportation costs, the availability of capital, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
CONTACT: Frequency Electronics, Inc.
General Joseph P. Franklin, 516-794-4500
www.frequencyelectronics.com
SOURCE: Frequency Electronics, Inc.