BEIQ Bei Technologies (MM)

BEI Technologies, Inc. Announces Acquisition of Newall Measurement Systems SAN FRANCISCO, Oct. 12 /PRNewswire-FirstCall/ -- BEI Technologies, Inc. (NASDAQ:BEIQ) is pleased to announce that it has acquired for cash, Newall Measurement Systems, Ltd., a leading manufacturer of proprietary products including high quality digital readout systems (DRO) and digital linear encoders. Newall, which is based in the United Kingdom, serves machine tool and process automation markets in North America, Asia and Europe. "We are excited about this acquisition because we believe the addition of the DRO and digital linear encoder products will be a natural extension of BEI's product portfolio. Also, there may be significant market opportunities for Newall products with BEI's current customers and markets," commented Charles Crocker, Chairman and CEO. The acquisition of Newall should be accretive by the end of the fiscal year 2005. Newall's annual revenue is in the $12 million range, and the company has been profitable over the last several years. BEI Technologies, Inc. (the "Company" or "Technologies") is an established manufacturer of electronic sensors, motors, actuators, optical encoders and motion control products used for factory and office automation, medical equipment, military, aviation and space systems. In addition, sales to manufacturers of transportation equipment including automobiles, trucks and off-road equipment have become a significant addition to the Company's business in recent years. The Company's micromachined quartz rate sensors are being used in advanced vehicle stability control systems and a significant increase in the production of those sensors had been in progress from the middle of 1998 to FY 2004 except for a decrease in production in fiscal 2002 due to increased competition. The Company is currently transitioning to its next generation of automotive inertial quartz based sensor products, remotely mounted multi-sensor clusters with CAN Bus and a multi rate sensor package suitable for incorporation into electronic systems modules. The Company also manufactures electronic steering wheel position sensors, seat-memory modules, throttle position sensors, inertial navigation systems, and other devices used in transportation systems. DATASOURCE: BEI Technologies, Inc. CONTACT: John LaBoskey, Senior Vice President/CFO of BEI Technologies, Inc., +1-415-956-4477 Web site: http://www.bei-tech.com/

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