Arguss Holdings Announces Proposed Acquisition of Thomason Enterprises, Inc.

ROCKVILLE, Md.--(BUSINESS WIRE)--Sept. 20, 1999--

Arguss Holdings entered into a Letter of Intent detailing their proposed acquisition of Thomason Enterprises, Inc. (TEI). TEI is headquartered in Bradenton, FL. It provides telecommunications design, engineering and construction services 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 "TEI gives our operations greater diversity in its customer base and in its technical capabilities 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 include, 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 subsidiaries - Arguss Communications Group, Inc. (Communications Group) and Conceptronic, Inc. (Conceptronic). Communications Group operates through its divisions - White Mountain, Can-Am Construction, Schenck Communications, TCS Communications and Underground Specialties. Communications Group designs, constructs, reconstructs, maintains and repairs telecommunications systems and provides aerial, underground and premise construction services and splicing of both fiber optic and coaxial cable to major telecommunications customers. Conceptronic manufactures and sells highly advanced, computer-controlled capital equipment used in the SMT circuit assembly industry. Arguss continues to actively pursue acquisitions in industry sectors that it considers strategically important.