PLAINVIEW, N.Y.--(BUSINESS WIRE)--Sept. 8, 1997--Aeroflex Incorporated
(NYSE Symbol: ARX), announced today that it has called for redemption
its outstanding 7-1/2% Senior Subordinated Convertible Debentures due
June 15, 2004. There remains outstanding approximately $8,150,000
principal amount of the originally issued $10,000,000 principal amount
of Debentures. The redemption price is approximately $1,051 for each
$1,000 principal amount of Debentures including accrued and unpaid
interest to October 13, 1997, the redemption date. The Debentures are
convertible into the Company's Common Stock at the rate of $5-5/8 per
share. The conversion privilege expires at 5:00 p.m., New York City
time, on October 6, 1997, and Debentures that convert do not receive
accrued interest. Approximately $1,850,000 principal amount of
Debentures have previously been converted. Aeroflex Incorporated,
headquartered in Plainview, Long Island, designs and manufactures
advanced electronics systems and components, including microelectronic
circuits and interconnect products, instrument products and
electro-optical devices, for both the commercial and defense markets. It
also designs and manufactures shock and vibration stabilizing systems
used for commercial, industrial and defense applications.
CONTACT: Michael Gorin - President and Chief Financial Officer
(516) 694-6700
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