Bulova Technologies Group, Inc. News

Cohen Independent Research Group, Inc. Initiates Research Coverage of Bulova Technologies Group, Inc. July 1, 2009 - Press Release

CLEARWATER, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets:BLVT) announced today that Cohen Independent Research Group, Inc. (www.CohenResearch.com) "Wall Street's #1 Independent Research Firm", has initiated coverage with a BUY recommendation. The report is an in depth, comprehensive 109 page research report, forecasting a target price of $3.51 - $5.99 per share depending on pessimistic or optimistic case scenarios. Cohen Research provides an in-depth analysis, including 5-year financial and valuation projections, on BLVT's business and its significant growth drivers. The research report BLVT can be found at: http://www.cohenresearch.com/reports/blvt_07-01-09.pdf.

The Cohen Research report states: "Bulova has been a world leader in fusing, safe and arming devices, and load, assemble and pack of key military ammunition programs for over 50 years. The Company has entrenched strong working relationships at all levels within the U.S. Defense Department. Bulova intends to expand its operations and profitability significantly by bidding on major government contracts.

"The Company has also been a contract manufacturing company building electronic systems for over 20 years serving varied industry verticals. Bulova undertakes high-end manufacturing projects that involve very complex printed circuit board assembly, technical design and engineering, rigorous testing procedures and final system builds. Bulova's onsite testing capabilities allows considerable cost savings. We believe Bulova's excellent quality products and value-added services will enable continued business opportunities in the growing commercial contract manufacturing sector.

"Strong current orders and continued future revenue visibility positions the Company on a fast growth trajectory. We believe the Company's strong relationship with the government, growth potential in its marketplace, and seasoned management team makes the stock a valuable investment proposition. The current valuations remain low, and we believe the Bulova story will be tremendously rewarding for the long-term risk adverse investor.

"Current orders are valued at $72 million for 2009, including $38 million of simulators and initiators, $24 million of assemblies, and $10 million of combat systems. In April 2009, Bulova received an order worth $30 million from the Army Research Development and Engineering Command. The Company plans to expand its operations by bidding on government contracts.

"In June 2009, the Company was awarded three additional awards. First from Thoratec Corporation, second from DRS Technologies, Inc., and a R & D Contract to Develop Environmentally Sensitive Ordnance for U.S. Army.

Bulova differentiates from competition based on its ability to offer complete manufacturing solutions. These solutions minimize the 'full-life production costs' of its customers while meeting their time-to-market and time-to-volume objectives."

About Cohen Independent Research Group, Inc.

Cohen Research (www.cohenresearch.com) has raised the art of fundamental securities research by forecasting and valuing all of its companies in three cases over a 5 year time period. Cohen Research's independent third party stock research business selectively initiates Independent Research Analyst Coverage for overlooked public corporations. Cohen Research identifies and initiates non-traditional company research, selecting micro cap stocks and small cap stocks with management teams focused on shareholder value, sustainable competitive advantage, and companies that demonstrate market leadership in their respective disciplines. Cohen Research distributes in-depth stock market research reports that highlight the company's market opportunity, technology, management, competition and other key differentiators that may affect their short and long term valuation.

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.

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.

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