Bulova Technologies Group, Inc. News

Bulova Technologies Updates Relationship with Russian Partner July 31, 2012

CLEARWATER, Fla.--(BUSINESS WIRE)-- Bulova Technologies Group, Inc. (BLVT) (the "Company") issued today an update and clarification regarding its relationship with Rosoboronexport and other Russian manufacturers and its anticipated performance through fiscal year end (September 30).

Stephen L. Gurba, Chairman of the Board, President and CEO, stated, "The decision by the U.S. Congress recommending, for political reasons, no further contractual dealings with Rosoboronexport, our Russian Commonwealth partner has made considerable headlines lately. We are not yet certain how this turn of events might affect future U.S. Government purchases from Rosoboronexport, though we are optimistic that either the political climate will improve rapidly or the required products can be procured by the Company from alternative Russian manufacturers with which Bulova Technologies has relations with.

"We are certain, however, that Bulova Technologies' 2012 contract with the U.S. Government to supply weapons produced by Rosoboronexport is unaffected, and the weapons are on schedule to be delivered on or before September 30, 2012, completing the fourth quarter for Bulova Technologies Group, Inc. with sales in excess of $6MM and a profitable quarter.

"Should a ban on purchases by the U.S. Government from Rosoboronexport be put into place and continue for any length of time and should that ban affect the Company's ability to deliver military products from Rosoboronexport in the future, we are confident that the Company's increased sales of U.S.-sourced military products and/or alternative Russian manufacturers will provide the needed revenues to continue the expected profitability of the Company."

About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc. and Bulova Technologies (Europe) LLC are headquartered in Tampa, Florida. Bulova Technologies Group, Inc. is registered with the United States Department of State Directorate of Defense Trade Controls (DDTC) as a broker.

Bulova Technologies Ordnance Systems LLC is located on 261 acres in Mayo, Florida, and is a load, assemble, and pack (L.A.P.) facility specializing in fuzes, safe and arming devices and explosive simulators.

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.

Contact:
Bulova Technologies Group, Inc.
Investor Relations Contact:
Equiti-trend Advisors, LLC
Brian Barnes, 800-953-3350

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