Bulova Technologies Group, Inc. News

Bulova Technologies Group, Inc. Provides Financing Update January 6, 2010 - Business Wire

TAMPA, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets: BLVT - News) (“BulovaTech” or “the Company”) announced today that it has obtained and closed two separate financing transactions. First, a $2,000,000 credit facility from a major regional bank to support the Company’s manufacturing operations. Second, a $2,000,000 private credit facility to support the Company’s defense contracting operations.

The Company continues to seek an efficient blend of debt and equity capital from both public and private sources to support anticipated revenue growth in 2010.

Stephen Gurba, President and CEO

John Stanton, Chairman

About Bulova Technologies Group, Inc.

Headquartered in Clearwater, Florida, Bulova Technologies Group, Inc. operates in three business sectors; defense, contract manufacturing and diversified technologies, the latter consisting of the pursuit of alternative energy initiatives, diagnostic tools and healthcare products. The Defense Group includes a 261 acre facility in Mayo, Florida operating as Bulova Technologies Ordnance Systems and Combat Systems Group, a world leader in the international sale of military vehicles, weapons and munitions in support of the U.S. Department of Defense, co-located at the Group’s headquarters in Clearwater, Florida. The Contract Manufacturing Group operates from a modern facility in Melbourne, Florida while the Diversified Technologies Group, operating as BulovaTech Labs, Inc, uses both a facility located in Brandon, Florida and the Company’s headquarters in Clearwater, Florida.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statement of Bulova Technologies Group officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Bulova Technologies Group actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and Bulova Technologies Group has no specific intention to update these statements.

Bulova Technologies Group, Inc.
Beverly Mercer, 727-451-6560

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