Lowrance Wins Major New Orders for Its Global Positioning System and Sonar Products From Wal-Mart and Other Regional and National Chains

Business Wire, Nov 20, 1998

TULSA, Okla.--(BUSINESS WIRE)--Nov. 20, 1998--

Lowrance's Global Map 100 Sweeps Top Industry Awards

Lowrance Electronics Inc. (Nasdaq:LEIX) Friday announced that Wal-Mart Corp., Bentonville, Ark., has purchased more than 4,000 of the company's Eagle Expedition II GPS (global positioning system) receivers for sale at approximately 1,000 Wal-Mart stores.

Wal-Mart also has committed to stocking additional Lowrance GPS products and one additional Eagle sonar product in some of its stores beginning in January and February 1999. Lowrance sold several of its sonar products but no GPS models to Wal-Mart in the past year.

In addition to its expanded product offerings at Wal-Mart, Lowrance has received commitments from several regional distributors and both regional and national retail chains that collectively operate more than 200 stores to add the company's sonar and GPS products to their product offerings throughout 1999.

Lowrance estimates that sales to these new customers, as well as increased sales to Wal-Mart, will generate incremental revenue of more than $7 million for the current fiscal year ending July 31, 1999.

"We are pleased by the strong response to our GPS products, as evidenced by Wal-Mart's commitments and those of other distributors and retailers. Demand has been particularly strong for our new GPS products with detailed digitized mapping features and exclusive CD-ROM map upload capability," said President and Chief Executive Officer Darrell Lowrance.

"The Lowrance Global Map 100, for example, has won top recognition from both the fishing tackle and boating industries. In May, the Global Map 100 won both the 'Editor's Choice Award' from the staff of Sportfishing Magazine and 'Best of Show' for new electronics products from the American Sportfishing Association at its annual ICAST trade show in Orlando.

"Last month, this product won the 'IMTEC Innovation Award,' the top award for electronics at the annual National Marine Manufacturer's Association trade show in Chicago," said Lowrance.

Lowrance Electronics designs and manufactures sonar products and orbital satellite receivers, plotters and mapping systems using the global positioning system (GPS) under the brand names "Lowrance," "Eagle" and "Sea" Electronics. These products are used primarily for sport fishing, hunting, recreational boating and other outdoor applications as well as in general aviation.

This news release contains "forward-looking statements" as allowed in the Securities Litigation Reform Act of 1995. The company believes that these statements are based on reasonable assumptions, however, no assurances can be given that the projected results will be achieved. Unforeseen factors that are discussed in the company's Securities and Exchange Commission filings could have a material adverse effect on the company's performance.