Bulova Technologies Group, Inc. News

Bulova Technologies Group Announces New Wholly-Owned Subsidiary BulovaTech Labs, Inc. May 14, 2009 - Business Wire

TAMPA, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets: BLVT - News) (“BulovaTech” or “the Company”) announced today that it has incorporated a new, wholly-owned subsidiary, BulovaTech Labs, Inc. (“LABS”). LABS will incubate, develop and license commercial applications of technologies applicable to the defense, alternative energy and healthcare industries.

Bulova Technologies’ Chairman, John Stanton, observed, “BulovaTech Labs will continue the Company’s tradition of technological development, such as the introduction of time based fuze and arming mechanisms.” Bulova Technologies intends to add significant value to the Company through this new subsidiary in ways that are planned to be non-dilutive to the shareholders. “Our vision is that LABS will evolve into a critical element in the growth of the Company by contributing significant intellectual property through direct ownership or Joint Ventures. We will provide details of these plans over the near-term,” Stanton concluded.

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

About Bulova Technologies Group, Inc.

Headquartered in Clearwater, Florida, Bulova Technologies Group, Inc. operates two facilities, Bulova Technologies Ordnance Systems in Mayo, FL and BT Manufacturing Company in Melbourne, FL. The headquarters also houses the Bulova Technologies Combat Systems Company which is a world leader in the international sale of military vehicles, weapons and munitions in support of the U.S. Department of Defense.

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.

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