STLW Stratos Intl (MM)

CHICAGO, Sept. 12 /PRNewswire-FirstCall/ -- Stratos International, Inc. (NASDAQ:STLW), today announced that it has signed an agreement to sell its corporate and manufacturing facilities located in Chicago. The selling price of the building and land of 6.3 acres is approximately $9.9 million ($7.4 million in cash and $2.5 million in a three year note), subject to a reduction for an agreed upon amount of environmental remediation costs, which will be determined within a 60-day inspection and feasibility period. Stratos will lease the property back from the purchaser for the next three years and expects to move to a separate location thereafter. "This transaction allows us to redeploy capital that is currently invested in real estate and utilize it in ways to benefit stockholders, including growing and developing our company," said Andy Harris, President and Chief Executive Officer. Stratos noted that, due to certain contract contingencies, there is no assurance that the real estate closing will occur. ABOUT STRATOS INTERNATIONAL Stratos International, Inc. is a leading designer, developer and manufacturer of RF and Microwave, as well as optical subsystems, components and interconnect products used in telecom, enterprise, military and video markets. Stratos has a rich history of optical and mechanical packaging expertise and has been a pioneer in developing several optical devices using innovative form factors for telecom, datacom and harsh environments application. This expertise, coupled with several strategic acquisitions, has allowed Stratos to amass a broad range of products and build a strong IP portfolio of more than 100 patents. Stratos currently serves more than 1,300 active customers, who are primarily in telecom/datacom, military/aerospace and video markets. Stratos' headquarters is in Chicago, Illinois, USA. DATASOURCE: Stratos International, Inc. CONTACT: Barry Hollingsworth of Stratos International, Inc., +1-708-457-2379, Web site: http://www.stratoslightwave.com/

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