EXHIBIT 99.1
DHB INDUSTRIES INC. NEWS FROM DHB INDUSTRIES INC
2102 SW 2nd Street * Pompano Beach, FL 33069
Tel: 954-630-0900 * www.dhbindustries.com
COMPANY CONTACT: Investor Relations/Public Relations
Glenn Wiener, GW Communications
212-786-6013
ir@dhbt.com or pr@dhbt.com
FOR IMMEDIATE RELEASE
DHB ANNOUNCES EXECUTIVE APPOINTMENTS
- JOHN SIEMER NAMED COO AND CHIEF OF STAFF -
- THOMAS CANFIELD TO SERVE AS GENERAL COUNSEL AND CORPORATE SECRETARY -
- SAM WHITE APPOINTED HEAD OF GLOBAL SALES -
POMPANO BEACH, FLORIDA, SEPTEMBER 28, 2006 - DHB Industries Inc. (OTC Pink
Sheets: DHBT.PK), a leader in the field of protective body armor, announced
today the appointments of John Siemer as Chief Operating Officer and Chief of
Staff and Thomas Canfield as General Counsel and Corporate Secretary. The
Company also disclosed that Sam White, formerly President of Point Blank Body
Armor, will now assume the position of Head of Global Sales.
"It is with great pleasure that I announce John and Thomas's appointments and
welcome them to the DHB family," stated Larry Ellis, President and Acting CEO.
"I personally have known John for over 20 years and believe his experience in
the U.S. Armed Forces will be a tremendous asset to our organization. John was
brought on board given his knowledge of the inner-workings of the U.S. military
and both local and federal governments and I strongly believe his insights and
skills will enable us to better structure our organization to meet our
customers' needs, as well as our ability to operate more efficiently.
Furthermore, the addition of Thomas Canfield to our organization will greatly
help us, not only in legal matters, but in operations as he has over 25 years of
experience in both U.S. and International business, working with high-profile
corporations in the matters of legal, regulatory, business development,
corporate finance and operations."
Ellis continued, "Sam White has been with our organization since 2001 and has
been one of the key executives responsible for DHB's growth and market
leadership in the body armor industry. Prior to his appointment as President of
Point Blank, Sam served as VP of our sales, marketing and R&D initiatives and we
strongly believe that having Sam lead our global sales efforts, will better
position our Company in the years ahead. His knowledge of our products, our
customers and partners, and his relationships with key decision makers and
suppliers will be invaluable as we look to grow our business and become the
dominant supplier of protective body armor to the U.S.
Armed Forces, Federal Agencies and Law Enforcement community."
Mr. Siemer will be working closely with key executives from corporate, finance,
operations and human resources while helping to structure and implement the
Company's overall strategy and vision across all departments and locations. Mr.
Siemer will coordinate matters of strategic planning, business development,
corporate governance and both operational and managerial organization. Other
day-to-day duties will include staff management, integration of key business
functions and both staff structure and training. Mr. Siemer will also focus on
ensuring fiscal discipline while improving business efficiencies and
productivity. He will be reporting to Larry Ellis.
Prior to joining DHB, Mr. Siemer served as Special Assistant and Strategic
Planner to the Army Chief of Staff where he advised on the use and allocation of
resources. Previously, he served as Executive Officer to the Director of Program
Analysis and Evaluation for the Department of the Army Headquarters, where he
provided oversight and direction in helping the U.S. Army craft and execute its
Future Years Defense Program, specifically focused in the areas of resource
allocation, program evaluation and analysis, and acquisition. Mr. Siemer worked
extensively with the Department of Defense in developing Program Objective
Memorandum (POM). Mr. Siemer co-authored a comprehensive Army study on
structure, research, development and acquisition, and overall base operations.
He holds a Bachelors of Science (B.S.) in Engineering from the U.S. Military
Academy at West Point and a Masters of Science (M.S.) in Structural Engineering
from the Georgia Institute of Technology (Georgia Tech).
As DHB's General Counsel and Corporate Secretary, Thomas Canfield will be
responsible for overseeing the Company's legal and government affairs, including
regulatory, corporate and compliance activities as well as matters pertaining to
the Securities and Exchange Commission and potential relisting of DHB on AMEX or
another exchange, once compliance matters are addressed. He will be working
closely with the Company's operational and financial teams in contract
arrangements, patents and employee relations and will assist the executive team
and board of directors in strategic planning and transactions, corporate affairs
and corporate governance. He will also be reporting to Larry Ellis.
Prior to joining DHB, Mr. Canfield served as CEO and Plan Administrator for AT&T
Latin America Corp., a position he held since 2003. Prior to that, he served as
General Counsel and Secretary. During his tenure at AT&T, Mr. Canfield oversaw a
15-month business restructuring plan and was instrumental in debt
restructurings, customer and vendor negotiations, management personnel and
related litigation. As General Counsel and Secretary, he executed the assembly
of the business franchise, involving two acquisitions and a follow-on merger
resulting in a Nasdaq NMS listing. Additionally, he played a major role in
integrating the Company's U.S. headquarters and businesses in five South
American countries into a unified multi-national operation with common business
processes.
From 1991-2000, Mr. Canfield was an attorney in the New York office of Debevoise
& Plimpton, where he represented principals and advisors in numerous M&A and
corporate financing transactions, including matters involving AT&T Corp., AOL,
AIG, Citigroup, Kimberly-Clark, Phelps Dodge and others. Mr. Canfield graduated
from Wesleyan University with a Bachelor of Arts in History and received his JD
from Fordham Law School. He was awarded the annual New York State Bar citation
in legal ethics and was admitted to practice in New York in 1990.
ABOUT DHB INDUSTRIES
DHB Industries, Inc.'s highly recognized subsidiaries, Point Blank Body Armor,
Inc. (www.pointblankarmor.com) and Protective Apparel Corporation of America
(PACA) (www.pacabodyarmor.com), are in the protective body armor industry and
are focused on the design, manufacture, and distribution of bullet resistant and
protective body armor for military, law enforcement, and corrections in the U.S.
and worldwide. Company subsidiary NDL Products, Inc. (www.ndlproducts.com),
produces and markets a comprehensive line of athletic supports and braces which
are merchandised through national superstore chains as well as through private
label distributors.
The Company maintains facilities in Deerfield Beach, FL, Oakland Park, FL,
Pompano Beach, FL, Jacksboro, TN and Washington, DC. To learn more about DHB
Industries, Inc., visit the website at (www.dhbindustries.com).
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: THE STATEMENTS WHICH ARE NOT HISTORICAL FACTS CONTAINED IN THIS PRESS
RELEASE ARE FORWARD-LOOKING STATEMENTS, WHICH ARE BASED LARGELY ON THE COMPANY'S
EXPECTATIONS AND ARE SUBJECT TO VARIOUS BUSINESS RISKS AND UNCERTAINTIES,
CERTAIN OF WHICH ARE BEYOND THE COMPANY'S CONTROL. WORDS SUCH AS "EXPECTS,"
"ANTICIPATES," "TARGETS," "GOALS," "PROJECTS," "INTENDS," "PLANS," "BELIEVES,"
"SEEKS," "ESTIMATES," VARIATIONS OF SUCH WORDS, AND SIMILAR EXPRESSIONS ARE
INTENDED TO IDENTIFY SUCH FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING
STATEMENTS ARE ONLY PREDICTIONS THAT SPEAK AS OF THE DATE HEREOF AND ARE SUBJECT
TO RISKS, UNCERTAINTIES AND ASSUMPTIONS THAT ARE DIFFICULT TO PREDICT.
THEREFORE, ACTUAL RESULTS MAY DIFFER MATERIALLY AND ADVERSELY FROM THOSE
EXPRESSED IN ANY FORWARD-LOOKING STATEMENTS. FACTORS THAT MIGHT CAUSE OR
CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO, (1) EXPECTATIONS
AS TO THE TIMING OF THE FILING OF THE REPORT ON FORM 10-K FOR THE FISCAL YEAR
ENDED DECEMBER 31, 2005 AND THE QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY
PERIODS ENDED MARCH 31, 2006 AND JUNE 30, 2006, (2) ANY LISTING REQUIREMENTS
WHICH MAY BE PRESCRIBED OR ANY DETERMINATION WHICH MAY BE MADE BY THE AMERICAN
STOCK EXCHANGE, (3) UNCERTAINTY OF FUTURE FINANCIAL RESULTS, (4) ADDITIONAL
FINANCING REQUIREMENTS, (5) DEVELOPMENT OF NEW PRODUCTS, (6) GOVERNMENT APPROVAL
PROCESSES, INCLUDING APPROVAL OF THE SETTLEMENT BY THE COURT, (7) THE IMPACT OF
COMPETITIVE PRODUCTS OR PRICING, (8) TECHNOLOGICAL CHANGES, (9) THE EFFECT OF
POLITICAL AND ECONOMIC CONDITIONS, (10) THE OUTCOME AND IMPACT OF LITIGATION TO
WHICH THE COMPANY IS A PARTY AND THE SECURITIES AND EXCHANGE COMMISSION AND
OTHER INVESTIGATIONS REGARDING THE COMPANY, AND (11) OTHER UNCERTAINTIES
DETAILED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
YOU ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING
STATEMENTS THAT SPEAK ONLY AS OF THE DATE HEREOF. THE COMPANY UNDERTAKES NO
OBLIGATION TO REVISE OR UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS TO
REFLECT ANY CHANGE IN THE EXPECTATIONS OF OUR MANAGEMENT WITH REGARD THERETO OR
ANY CHANGE IN EVENTS, CONDITIONS, OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS
ARE BASED.
- #### -