PHAZAR CORP Announces Redemption on $1.6 Million of the Company's Long Term Marketable Securities

Business Wire, Oct 20, 2008

MINERAL WELLS, Texas -- PHAZAR CORP, (Nasdaq: ANTP) announced today, that on October 16, 2008, the Massachusetts Education Financing Authority ("MEFA") redeemed $1.6 million of the Company's long term marketable securities and paid interest due of approximately $36,000. Funding was received on October 17, 2008, with $1 million used to pay off the prior advance from UBS Financial Services, Inc. ("UBS") taken in the form of a margin loan collateralized by the long term marketable securities.

The Company continues to hold $1.05 million of auction rate securities issued by the Massachusetts Educational Financing Authority and anticipates being able to sell its auction rate securities back to UBS at par during the timeframe, January 1, 2009 through January 11, 2011 per the "Auction Rate Securities Summary of Settlement Terms" provided by UBS.

The arbitration claim filed against UBS Financial Services, Inc. with the Financial Industry Regulatory Authority, Inc. and the injunctive action filed against UBS in the 348th Judicial District Court of Tarrant County, Texas are still in place.

Product information is available at www.antennaproducts.com, www.truemeshnetworks.com and www.phazar.com.

The common stock of PHAZAR CORP is listed on the NASDAQ Capital Market under the trading symbol "ANTP". This press release contains forward-looking information within the meaning of Section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished.