ACEN LOI news American Communications Enterprises, Inc. Finalizes Letter of Intent to
Acquire AeroGroup, Inc.
SARASOTA, Fla.--(BUSINESS WIRE)--May 18, 2001--American Communications Enterprises, Inc. (OTCBB:ACEN -
news) announced today that it has finalized a Letter of Intent to acquire 100% of privately held AeroGroup, Inc., a Nevada
corporation.
AeroGroup, Inc. has assembled in the past two years the world's largest private air force. The company supplies aircraft, pilots,
maintenance and other support for the U.S. government and various other foreign governments tactical aviation service contracts.
AeroGroup presently has available 56 aircraft including A4 Skyhawks, Harrier Jump Jets, Hawker Hunters, MIG-21's, F-35
Drakens, a B-57 Canberra, and MK5 StrikeMasters. The present government-to-government replacement values of these
aircraft exceed $150,000,000.00.
Military readiness and training is now a high visibility issue and the Joint Chiefs of Staff themselves have promised to address and
meet training goals. Presently there is not enough manpower or assets allocated within the Military to fulfill the need for combat
support training. AeroGroup is poised to fill the void with the required assets and manpower.
Mark Daniels, Executive Director of AeroGroup, Inc. stated, ``The United States military's training requirements have not
changed, only their level of readiness. AeroGroup will provide needed capabilities thereby enabling the United States to provide
all pilots with the required combat training. It is important to note how important pilot training is; the potential loss of life is priority
one, and that coupled with the potential loss of multi-million dollar equipment mandates the best training available. The military is
now committed to furnish that training. AeroGroup will privatize these missions that include combat training support as well as
full-blown adversarial unit training. AeroGroup can do this more efficiently and cost effectively than the military. The governmental
funding is in place to accomplish this.''
American Communications officials stated that, ``AeroGroup, Inc. will provide our Company and its shareholders with a
one-of-a-kind opportunity with the necessary capital, equipment, inventory, management, military expertise, secured agreements
and strategic alliances that will allow the Company to become the leader in tactical training worldwide.''
Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein. Factors
that might cause such a difference include, among others, competitive pressures, the company's ability to successfully implement
traffic, constantly changing technology, associated with recently formed entities. As a result, this press release should be read in
conjunction with the Company's periodic filings with the SEC.
For additional information please visit the website at www.aerogroupinc.com and/or e-mail Mark Daniels at rosso308@aol.com.
Contact:
American Communications Enterprises Inc., Sarasota
Mark Daniels, 941/341-0136 |
