LSI Industries Inc. Completes Acquisition of AdL Technology and Related Companies

CINCINNATI, July 22, 2009 (GLOBE NEWSWIRE)

LSI Industries Inc. (Nasdaq:LYTS) today announced it has completed the acquisition of AdL Technology and related companies (AdL Engineering and Kelmilfeen), privately owned and based in Columbus, Ohio. Consideration for the asset purchase of these businesses consisted of 2,469,676 shares of LSI's unregistered common stock, cash of $1,328,000, and assumed indebtedness of $3,526,000. The management team of AdL has entered into employment agreements and will continue in their current positions to manage the business for LSI.

AdL Technology engineers and manufactures custom designed circuit boards, assemblies, and sub-assemblies used in various applications including the control of solid-state lighting. AdL has a history of profitable operations and the acquisition is expected to be accretive before giving effect to one-time transaction costs and non-cash amortization expenses.

Commenting on the completed acquisition, Robert J. Ready, President and Chief Executive Officer, stated, "We are very pleased to welcome AdL to the family of LSI companies and look forward to many meaningful contributions, particularly as they relate to our solid-state LED lighting initiatives." As stated in our earlier press release, "So as to further establish and advance our leadership position in LED lighting, we made the decision to vertically integrate our capabilities in connection with designing, engineering, and producing the solid-state electronics that control and power LEDs. For the past two years, we and our Montreal-based engineers at LSI Saco Technologies have been working with the talented engineering and manufacturing people at AdL Technology. As part of the LSI family, AdL will allow us to stay on the leading edge of product development while at the same time providing opportunities to drive down manufacturing costs and control delivery of key components. AdL's capabilities will also have applications in our other LED product lines such as digital scoreboards, and advertising ribbon boards and billboards...."

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This document contains certain forward-looking statements that are subject to numerous assumptions, risks or uncertainties. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "seeks," "may," "will," "should" or the negative versions of those words and similar expressions, and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. Actual results could differ materially from those contained in or implied by such forward-looking statements as a result of a variety of risks and uncertainties. These risks and uncertainties include, but are not limited to, the impact of competitive products and services, product demand and market acceptance risks, reliance on key customers, financial difficulties experienced by customers, the adequacy of reserves and allowances for doubtful accounts, fluctuations in operating results or costs, unexpected difficulties in integrating acquired businesses, and the ability to retain key employees of acquired businesses and any other factors that may be identified in our reports filed with the Securities and Exchange Commission, including our Form 10-K. The Company has no obligation to update any forward-looking statements to reflect subsequent events or circumstances.


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