Arguss Holdings Announces Proposed Acquisition of Schenck Communications Inc.

ROCKVILLE, Md.--(BUSINESS WIRE)--Sept. 25, 1997--Arguss Holdings entered into a letter of intent detailing their proposed acquisition of Schenck Communications Inc.

The Schenck corporate office is located near Seattle, Wash. It provides underground and aerial construction services and splicing for fiber optic and coaxial cable to major telecommunications customers on a national level. The proposed transaction is for a combination of cash and securities. Rainer Bosselmann, chairman and chief executive of Arguss Holdings remarked that "Schenck Communications gives our cable operations greater diversity in its customer base and in its geographic market presence and we are excited about adding their strong reputation to our own." The consummation of this proposed transaction is contingent upon the completion of due-diligence analysis, the signing of a definitive purchase and sale agreement, approval of both companies' boards of directors and other conditions.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements inlcude, but are not limited to, those discussed in filings made by the company with the Securities and Exchange Commission.

Arguss Holdings Inc. (NASDAQ:ARGX) is a holding company that conducts its operations through its wholly owned operations, White Mountain Cable Construction Corp., TCS Communications Inc. and Conceptronic Inc. White Mountain Cable and TCS are engaged in the construction, reconstruction, maintenance, repair and expansion of communications systems, cable television and data systems, including providing aerial construction and splicing of both fiber optic and coaxial cable to major telecommunications customers. Conceptronic is a leading worldwide manufacturer of highly advanced, computer-controlled capital equipment used in the electronic, SMT circuit assembly industry. Conceptronic's equipment is preferred by most of the world's largest automotive, telecommunications, aerospace, computer and contract assembly manufacturers.

CONTACT: Arguss Holdings Inc.

Haywood Miller, 301/315-0027