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Herley Industries, Inc. Engages Jefferies Quarterdeck to Explore Strategic Alternatives

LANCASTER, Pa., Sept. 2 /PRNewswire-FirstCall/ -- Herley Industries, Inc. (Nasdaq: HRLY), a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide, announced today that it has engaged Jefferies Quarterdeck, a division of Jefferies & Company, Inc., as its financial advisor to assist the Company in its exploration of strategic alternatives.

Myron Levy, Chairman and CEO, said, "We are pleased to engage such experts to assist us in our deliberations."

Investors are cautioned that there can be no assurance that the consideration of various strategic alternatives by the Board will lead to any action by the Company.

About Herley

Herley Industries, Inc. is a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide. Based in Lancaster, PA, Herley has eight manufacturing locations and approximately 935 employees. Additional information about the company can be found on the Internet at

For information at Herley contact: Tel: (717) 735-8117

Peg Guzzetti

Investor Relations

Safe Harbor Statement -- Except for the historical information contained herein, this release may contain forward-looking statements. Such statements are inherently subject to risks and uncertainties. When used in this report, words such as "anticipated," "believes," "could," "estimates," "expects," "may," "plans," "potential" and "intends" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. The Company's results could differ materially based on various factors, including, but not limited to, cancellation or deferral of customer orders, difficulties in the timely development of new products, difficulties in manufacturing, increased competitive pressures and general economic conditions. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.

SOURCE Herley Industries, Inc.
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