EXHIBIT 99.1
[DHB LOGO GOES HERE]
NEWS FROM DHB INDUSTRIES INC.
2102 SW 2nd Street Pompano Beach, FL 33069
Tel: 954-630-0900 www.dhbindustries.com
COMPANY CONTACT: Media Relations/Investor Relations
Glenn Wiener
212-786-6013
pr@dhbt.com or ir@dhbt.com
FOR IMMEDIATE RELEASE
DHB INDUSTRIES ANNOUNCES NEW $35 MILLION
CREDIT FACILITY WITH LASALLE BUSINESS CREDIT
POMPANO BEACH, FLORIDA, APRIL 5, 2007 - DHB Industries Inc. (OTC Pink Sheets:
DHBT.PK), a leader in the field of protective body armor, announced today that
the Company and its subsidiaries Point Blank Body Armor Inc., Protective Apparel
Corporation of America and NDL Products, Inc. have entered into a Loan Agreement
with LaSalle Business Credit.
The Loan Agreement provides a three-year $35 million secured revolving credit
facility available to the Company's subsidiaries. In addition, the Company
disclosed that as of April 3, 2007, the amount outstanding under the Loan
Agreement was approximately $5 million. Amounts outstanding fluctuate daily
based on shipments and collections.
Larry Ellis, President and CEO of DHB Industries commented, "We are pleased to
have closed on this new credit facility with LaSalle. Over the past year, our
financial position has significantly improved and we continue to gain
efficiencies in our operating processes and capital structure. With the added
stability from this facility and cash generated from operations, we have the
platform to drive business strategies and improve on our market leading
position. We will continue to explore avenues that enhance shareholder value."
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).
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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) THE
COMPANY'S LACK OF AUDITED FINANCIAL STATEMENTS AND ITS ABILITY TO FILE ITS
PERIODIC REPORTS WITH THE SECURITIES AND EXCHANGE COMMISSION ON A TIMELY BASIS,
(2) IMPROVEMENT IN THE COMPANY'S INTERNAL CONTROL STRUCTURE OVER FINANCIAL
REPORTING, (3) DE-LISTING FROM THE AMERICAN STOCK EXCHANGE, (4) UNCERTAINTY OF
FUTURE FINANCIAL RESULTS, (5) ADDITIONAL FINANCING REQUIREMENTS, (6) DEVELOPMENT
OF NEW PRODUCTS, (7) GOVERNMENT APPROVAL PROCESSES, INCLUDING APPROVAL OF THE
SETTLEMENT BY THE COURT, (8) THE IMPACT OF COMPETITIVE PRODUCTS OR PRICING, (9)
TECHNOLOGICAL CHANGES, (10) THE EFFECT OF POLITICAL AND ECONOMIC CONDITIONS,
(11) 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 (12) 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.
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