DEVC Devcon Intl Corp (MM)

BOCA RATON, Fla., July 24 /PRNewswire-FirstCall/ -- Devcon International Corp. (NASDAQ:DEVC), the 11th largest electronic security services provider in the United States, announced today that its Board of Directors has approved the repurchase of up to $5 million of its common stock between today's date and December 31, 2008. Richard C. Rochon, Devcon's Chairman and Acting Chief Executive Officer stated, "One of the key objectives of our business plan is to invest in business opportunities that will increase shareholder value and we believe that our own stock presents an attractive investment alternative. Further, this share repurchase emphasizes our confidence in Devcon's future. We believe we will still have sufficient cash available to meet our strategic goals and objectives during the time of this repurchase program." The share repurchase program authorizes the purchase of up to $5 million of the Company's common stock from time to time through open market transactions in accordance with the rules and regulations of the Securities and Exchange Commission between now and the end of 2008. The repurchase program will be funded using the Company's available cash. Devcon had 6,219,128 shares of common stock outstanding as of July 24, 2007. About Devcon Devcon has two operating divisions. The Security Division, (http://www.devcon-security.com/) which provides electronic security services to commercial and residential customers in selected markets, is the eleventh largest security monitoring and alarm company in the U.S. and the second largest in Florida. The Materials Division, which represents a small portion of Devcon's business, produces and distributes crushed stone, ready-mix concrete and concrete block on St. Maarten in the Netherlands Antilles and on St. Martin in the French West Indies. Forward-Looking Statements: This press release may contain statements, which are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Devcon's future results of operations, financial position or state other forward-looking information. In some cases you can identify these statements by forward- looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. You should not rely on forward-looking statements because Devcon's actual results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations effecting our business, and other risks and uncertainties discussed under the heading "Item 1A - Risk Factors" in Devcon's Annual Report on Form 10-K for the period ended December 31, 2006 as filed with the Securities and Exchange Commission, and other reports Devcon files from time to time with the Securities and Exchange Commission. Devcon does not intend to and undertakes no duty to update the information contained in this press release. DATASOURCE: Devcon International Corp. CONTACT: Stan Smith, +1-561-955-7300, ; or Robert Prag, President, The Del Mar Consulting Group, Inc., +1-858-794-9500, , both for Devcon International Corp. Web site: http://www.devcon-security.com/

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