HEICO Corporation Acquires Leading Niche Power Amplifier Maker

Electronic Technologies Group acquired approximately 93% of the stock of

Apex Microtechnology, Inc. (“Apex”) in an all cash transaction. Members

of Apex’s management own the balance of the firm.

HEICO stated that it expects the acquisition to be accretive to its

earnings in the year following the purchase. Further financial terms and

details were not disclosed.

Tucson, AZ-based Apex is the leading designer and manufacturer of

precision power analog monolithic, hybrid and open frame components for

a certain wide range of aerospace, defense, industrial, measurement,

medical and test applications. Among Apex’s most recognized products are

high-end Power Operational Amplifiers, PWM Amplifiers and Voltage

References.

Founded in 1980, Apex employs nearly 100 people at its state-of-the-art

Tucson headquarters, engineering and production facility, as well as at

international sales locations. Apex is known as a leader for

consistently developing products that lead the industry in terms of

performance, quality, and reliability.

Apex’s entire management team will remain with the company in their

pre-acquisition positions and no material staff turnover is expected.

Apex will continue to operate in its current locations and will be led

by its long-time CEO and shareholder, Greg Brennan, who remains a

shareholder.

Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer,

along with Victor H. Mendelson, HEICO’s Co-President and CEO of HEICO’s

Electronic Technologies Group, remarked, “Apex continues HEICO’s

practice of buying the best-in-class, niche electronic components

companies which are known for having excellent talent serving a

demanding customer base. From the moment we met the Apex team, we were

impressed by the operation they built and their commitment to quality.

We welcome everyone at Apex to the HEICO family.”

Greg Brennan, Apex’s long-time CEO and part-owner, commented, “We wanted

the right long-term partner for Apex and its people. That partner had to

be someone who not only understood our business, our customers and our

people, but also one that had the same commitment to constant product

development and quality. We found HEICO as a terrific partner and we are

excited to have come together.”

HEICO Corporation is engaged primarily in the design, production,

servicing and distribution of products and services to certain niche

segments of the aviation, defense, space, medical, telecommunications

and electronics industries through its Hollywood, FL-based Flight

Support Group and its Miami, FL-based Electronic Technologies Group.

HEICO’s customers include a majority of the world’s airlines and

overhaul shops, as well as numerous defense and space contractors and

military agencies worldwide, in addition to medical, telecommunications

and electronics equipment manufacturers. For more information about

HEICO, please visit our website at http://www.heico.com.

Certain statements in this press release constitute forward-looking

statements, which are subject to risks, uncertainties and contingencies.

HEICO's actual results may differ materially from those expressed in or

implied by those forward-looking statements as a result of factors

including, but not limited to: lower demand for commercial air travel or

airline fleet changes or airline purchasing decisions, which could cause

lower demand for our goods and services; product specification costs and

requirements, which could cause an increase to our costs to complete

contracts; governmental and regulatory demands, export policies and

restrictions, reductions in defense, space or homeland security spending

by U.S. and/or foreign customers or competition from existing and new

competitors, which could reduce our sales; our ability to introduce new

products and services at profitable pricing levels, which could reduce

our sales or sales growth; product development or manufacturing

difficulties, which could increase our product development costs and

delay sales; our ability to make acquisitions and achieve operating

synergies from acquired businesses; customer credit risk; interest,

foreign currency exchange and income tax rates; economic conditions

within and outside of the aviation, defense, space, medical,

telecommunications and electronics industries, which could negatively

impact our costs and revenues; and defense budget cuts, which could

reduce our defense-related revenue. Parties receiving this material are

encouraged to review all of HEICO's filings with the Securities and

Exchange Commission, including, but not limited to filings on Form 10-K,

Form 10-Q and Form 8-K. We undertake no obligation to publicly update or

revise any forward-looking statement, whether as a result of new

information, future events or otherwise, except to the extent required

by applicable law.

Contacts

Victor H. Mendelson, (305) 374-1745

Carlos L. Macau, Jr., (954)

987-4000