Exhibit 99.01
DEL GLOBAL TECHNOLOGIES SIGNS $8 MILLION CREDIT FACILITY
WITH NORTH FORK BUSINESS CAPITAL
VALHALLA, N.Y.-Aug. 2, 2005--Del Global Technologies Corp. (DGTC) ("Del Global"
or "the Company") today announced that it has entered into an $8 million credit
facility with North Fork Business Capital. The facility is comprised of a
three-year, $6 million revolving line of credit and a three-year, $2 million
term loan. Proceeds will be used to retire the Company's existing credit
facility and for general working capital purposes.
Walter Schneider, Chief Executive Officer of Del Global, commented, "This
agreement provides Del Global with an additional $2 million in borrowing
capacity and gives the Company the resources to support our continuing growth
initiatives. We appreciate that North Fork Business Capital devoted the time and
resources to truly understand Del Global's business, industry and the
opportunities we are pursuing."
North Fork Business Capital is part of North Fork Bancorporation, Inc., a
regional bank holding company headquartered in New York conducting commercial
and retail banking from approximately 358 branch locations in the Tri-State
area, with a complementary national mortgage banking business.
ABOUT DEL GLOBAL TECHNOLOGIES
Del Global Technologies Corp. is primarily engaged in the design, manufacture
and marketing of cost-effective medical imaging and diagnostic systems
consisting of stationary and portable x-ray systems, radiographic/fluoroscopic
systems, dental imaging systems and proprietary high-voltage power conversion
subsystems for medical and other critical industrial applications. Through its
RFI subsidiary, Del Global manufactures electronic filters, high voltage
capacitors, pulse modulators, transformers and reactors, and a variety of other
products designed for industrial, medical, military and other commercial
applications.
Statements about future results made in this release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on current
expectations and the current economic environment. Del Global cautions that
these statements are not guarantees of future performance. These statements
involve a number of risks and uncertainties that are difficult to predict,
including, but not limited to: the ability of Del Global to implement its
business plan; retention of management; changing industry and competitive
conditions; obtaining anticipated operating efficiencies; securing necessary
capital facilities; favorable determinations in various legal matters; market
and operating risks from foreign currency exchange exposures; and favorable
general economic conditions. Actual results could differ materially from those
expressed or implied in the forward-looking statements. Important assumptions
and other important factors that could cause actual results to differ materially
from those in the forward-looking statements are specified in the Company's
filings with the Securities and Exchange Commission.
___________________________
Contact:
Del Global Technologies Corp.
Walter F. Schneider, President & Chief Executive Officer
Mark Koch, Principal Accounting Officer
914-686-3650
or
Investor Relations:
The Equity Group Inc.
Devin Sullivan, 212-836-9608
Adam Prior, 212-836-9606
