ABRI Abrams Industries (MM)

Abrams Industries Announces Special Dividend, Declares Regular Quarterly Dividend, Acquires Building Performance Engineers, Inc. ATLANTA, June 1 /PRNewswire-FirstCall/ -- ABRAMS INDUSTRIES, INC. (NASDAQ:ABRI), an energy management, facility services and real estate company, today reported that the Board of Directors has declared a special one-time cash dividend of $.16 per share and a regular quarterly cash dividend of $.04 per share, the Company's 100th consecutive quarterly dividend. The special one-time dividend and the regular quarterly dividend will both be payable July 6, 2004, to shareholders of record June 18, 2004. "The investors in Abrams Industries have been very loyal over the years and this is one small way we can recognize that," said Alan Abrams, Co-Chairman, President and Chief Executive Officer. "We are pleased that our capital position has provided us with the opportunity to reward our shareholders with regular quarterly dividends and this special cash dividend while still providing our Company room to grow. Our first priority remains to use our resources to grow our business. We also believe that it makes sense to return a portion of the cash to our shareholders this year with this special dividend, especially in view of the favorable tax treatment on dividends." Separately, the Company announced that Servidyne Systems, LLC, its wholly owned energy management subsidiary, has acquired the operating business and assets of Atlanta-based Building Performance Engineers, Inc., a provider of energy and engineering services that optimize the performance of buildings through energy analyses, simulation and modeling, on-site investigative engineering, and building and engineering systems design. The addition of BPE's expertise broadens Servidyne's capabilities to help clients economically operate and maintain facilities at optimum levels of effectiveness and efficiency, and further expands Abrams Industries' portfolio of offerings designed to improve facility operating performance and lower costs, while improving the level of service and comfort for building tenants and guests. "Adding BPE broadens our industry-leading energy engineering capabilities, and expands our customer base and the industries we serve," said Barry Abramson, Servidyne's Senior Vice President. "I am particularly excited that we have acquired additional expertise in the design of sustainable or 'green' buildings through BPE's success in qualifying buildings for LEED(TM) (Leadership in Energy and Environmental Design) Building Certification." Jim Poulos, a principal at BPE, noted: "We are excited to join forces with Servidyne. Our clients will certainly benefit from Servidyne's and Abrams' breadth of services and capabilities and financial resources." Established in 1925, Abrams Industries, operating nationwide through its wholly owned subsidiaries, provides a variety of energy management and facility services to building owners and operators and engages in commercial real estate investment and development. The Company offers engineering services, maintenance management solutions, and turnkey implementation of energy saving lighting programs and related services to help commercial, institutional, hospitality, industrial and retail customers reduce energy consumption and building operating and maintenance costs. The Company currently owns or controls approximately 1.1 million square feet of shopping centers in the Midwest and Southeast and more than 200,000 square feet of office properties in metropolitan Atlanta, Georgia. For more information about Abrams Industries, please visit http://www.abramsindustries.com/ or call 770-953-0304. Certain statements contained in this news release are forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other matters which may cause the actual results, performance or achievements of Abrams Industries, Inc. to be materially different from any past or future results, performance, or uncertainties expressed or implied by such forward-looking statements. Abrams Industries, Inc. does not undertake to update these forward-looking statements. DATASOURCE: Abrams Industries, Inc. CONTACT: Alan R. Abrams, Co-Chairman, President & Chief Executive Officer of Abrams Industries, Inc., +1-770-953-0304, or Web site: http://www.abramsindustries.com/

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