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Bulova Technologies Group, Inc. Updates Status of BulovaTech Labs

^{Published on 2010-06-03 18:20:25 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--Bulova Technologies Group, Inc. (Pink Sheets:BLVT) (aBulovaTecha or the aCompanya) announced today that effective June 7, 2010, BulovaTech Labs (aLABSa) will be acquired by Growth Technologies (PinkSheets: GRWT) (aGROWTHa) in a stock transaction that will result in the Company owning approximately 90% of GROWTH. The Companya™s stock in GROWTH will be distributed to its shareholders at an as yet undetermined date.

About Bulova Technologies Group, Inc.

Headquartered in Clearwater Florida, Bulova Technologies Group, Inc. operates through three entities, Bulova Technologies Ordnance Systems, located in Mayo, FL, a leader in the production of incendiary devices for the U.S. Department of Defense, BT Manufacturing Company, located in Melbourne, FL, a diversified contract manufacturing facility, and Bulova Technologies Combat Systems Company, co-located with the Companya™s headquarters in Clearwater, FL, a world leader in the international sale of military vehicles, weapons and munitions in support of the U.S. Department of Defense.

Please visit our website at [ www.BulovaTechGroup.com ] for more information.

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management.