For Immediate Release
December 14, 1995
DAEDALUS ANNOUNCES TEMPORARY SUSPENSION OF ITS SEMIANNUAL DIVIDEND
ANN ARBOR, MICHIGAN - Daedalus Enterprises, Inc. today announced a
temporary suspension of its semiannual dividend as part of its plan to
allocate increased financial resources to its growth plan.
The growth plan involves the development of a service business through the
use of the Company's proprietary Airborne Digital Camera Systems for the
mapping of infrastructure within narrow corridors. Examples of the types
of infrastructure that would be mapped with such a system include electrical
distribution systems, railroads, highways and gas pipelines.
Although implementation of the growth plan began in fiscal 1995, Daedalus'
revenue will probably not be affected materially until late in the fiscal
year ending July 31, 1996. If successful, the service business is expected
to reduce fluctuations in the Company's revenue and earnings and enhance the
Company's profitability and shareholder value. The Company is also seeking
partners and additional financing to help bring this service business into
the market more quickly.
Daedalus Enterprises, Inc. is a leading
developer and manufacturer of remote
sensing instruments used for environmental measurement and monitoring.
The Company's stock is traded in the over-the-counter market under the
Vincent J. Killewald
Thomas R. Ory