Stanton Successful in Bid for Cerwin-Vega

On Wednesday, September 25, 2002, the Stanton Group was the winning bidder in the acquisition of the assets and the brand name of Cerwin-Vega.

Stanton President and CEO Gerard Cohen states, "We are very excited about this opportunity to grow and expand our business portfolio. We feel that the strength and heritage of the Cerwin-Vega brand name will be a strong complement to our existing businesses and create synergies in the future. We also clearly recognize the value of the existing customer base and are committed to maintaining strong business partners going forward. Stanton will stand strong behind the Cerwin-Vega product and brand name." The anticipated date for closing this transaction and the transfer of management is to occur on or about October 4, 2002.

For more information, visit their web site at www.stantonmagnetics.com.