June 15, 2000

Lila White
(804) 692-3110

Robert A. Furborough, President
CeoTronics, Inc.
(757) 549-6220
Jill Lawrence
(804) 371-0049
German Manufacturer Chooses Chesapeake
--Governor Gilmore announces CeoTronics to create 50 new jobs at new U.S. headquarters facility- -

Richmond - Governor Jim Gilmore today announced that CeoTronics, a German manufacturer of audio, video and data communication systems, will move its U.S. headquarters from Carrollton, Texas to the City of Chesapeake. The company will invest up to $4 million and create 50 new jobs for Virginians. The Commonwealth successfully competed with Kansas and Texas for the investment.

"I am pleased to welcome another international manufacturer to the Commonwealth," said Governor Gilmore. "Virginia continues to maintain a strong business partnership with Germany through the Virginia Economic Development Partnership's Frankfurt office."

CeoTronics is the market leader for communication headsets and systems to be used in difficult environmental working conditions. The parent company is located in Rödermark near Frankfurt/Main in Germany. The firm's production, research and development, marketing and sales for North America will be managed from the Chesapeake facility. With its own subsidiaries and co-partners, CeoTronics is currently represented in over 30 countries on 6 continents The success of the company is based on the high quality of its products, innovation, flexibility, excellent after-sales service and reasonable prices.

"Chesapeake is a natural location for our company because of its close proximity to the federal government and its strong military presence," said Robert A. Furborough, President of CeoTronics. "We are now one critical time zone closer to our parent company in Germany. The decision to relocate here was both commercial because of the ideal business climate as well as personal thanks to the region's wonderful quality of life."

"This announcement will help diversify Chesapeake's economic base and create valuable job opportunities for the Hampton Roads region," said Virginia Secretary of Commerce and Trade Barry E. DuVal. "We anticipate working closely with CeoTronics as our newest corporate citizen."

The Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance and the City of Chesapeake assisted CeoTronics with its decision. The Virginia Department of Business Assistance will provide workforce training services.

"Chesapeake is proud to have CeoTronics, Inc., a company internationally known for its technologically advanced communication equipment used in high-stress environments such as airports, nuclear power stations, and border control areas, join our international business community," said Chesapeake Mayor William E. Ward. CeoTronics is the 64th foreign business to become a part of Chesapeake, a city that now has firms representing 15 nations."


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