Subject: [NEXTEL-1] RELM Wireless Secures New Financing Package

From: [email-masked]
Date: Fri, 05 Sep 2003 00:57:45 -0400

RELM Wireless Secures New Financing Package

Silicon Valley Bank Accepts Role of Primary Lending Source

WEST MELBOURNE, Fla., Sept. 4 /PRNewswire-FirstCall/ -- RELM Wireless
Corporation (OTC Bulletin Board: RELM) today announced the closing of a
$2.8 million financing package, including a revolving line of credit through
Silicon Valley Bank and additional equity invested by three funds affiliated
with RELM directors.  As a result of the new financing, RELM's obligation to
its former lender has been fully satisfied.  The remaining working capital
provided by the transaction will be utilized to fund future business plans and
operating requirements.

The agreement with Silicon Valley Bank provides a revolving line of credit
up to $2.5 million for one year and is secured by substantially all of the
Company's assets, principally trade receivables and inventory.
In a concurrent transaction, three funds affiliated with certain of the
Company's directors provided the Company with $300,000 through the purchase of
500,000 shares of RELM common stock at $0.60 per share, which was the closing
price on the date the transaction was approved.

"This financing package indicates the confidence of our directors, as well
as Silicon Valley Bank, and reaffirms our business strategy and recent
success," commented RELM President and CEO Dave Storey.  "Securing this
financing allows us to continue our focus on critical growth initiatives, and
puts RELM in a much stronger position moving forward.  We now have the working
capital to execute our aggressive plans, including the expansion of our
low-cost, high-quality, digital product line, which has met the most stringent
APCO Project 25 technical specifications.  Our initial digital products have
been rapidly gaining momentum in the market since their recent introduction
and inclusion on the Department of Interior and Government Services
Administration contract this year."

Silicon Valley Bank, a prominent financing source in high-technology
sectors, provides diversified financial services to emerging growth and mature
companies.  Through its focus on specialized markets and extensive knowledge
of the people and business issues driving them, Silicon Valley Bank provides a
level of service and partnership that measurably impacts its clients' success.
Founded in 1983 and headquartered in Santa Clara, California, the company
serves more than 9,500 clients across the country through 27 regional offices.
More information on Silicon Valley Banks can be found at http://www.svb.com.
For more than 55 years, RELM Wireless Corp. has manufactured and marketed
two-way FM business-band radios, as well as high-specification public safety
mobile and portable radios, repeaters and accessories, base station
components, and subsystems. Revolutionary advances include new low-cost
digital portable two-way radios compliant with APCO Project 25 technical
specifications. Products are manufactured and distributed worldwide under BK
Radio, RELM, Uniden PRC and brand names. The company maintains its
headquarters in West Melbourne, Florida and can be contacted through its web
site at http://www.relm.com or directly at 1-800-821-2900.

This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act Of 1995 and is subject
to the safe-harbor created by such act.  These forward-looking statements
concern the Company's operations, economic performance and financial condition
and are based largely on the Company's beliefs and expectations.  These
statements involve known and unknown risks, uncertainties and other factors
that may cause the actual results, performance or achievements of the Company,
or industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements.  Such factors and risks include, among others, the following: the
factors described in the Company's filings with the Securities and Exchange
Commission; general economic and business conditions; changes in customer
preferences; competition; changes in technology; changes in business strategy;
the indebtedness of the Company; quality of management, business abilities and
judgment of the Company's personnel; and the availability, terms and
deployment of capital.  Certain of these factors and risks, as well as other
risks and uncertainties are stated in more detail in the Company's Annual
Report on Form 10-K.  These forward-looking statements are made as of the date
of this press release, and the Company assumes no obligation to update the
forward-looking statements or to update the reasons why actual results could
differ from those projected in the forward-looking statements.

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=SVBIZINK1.story&STORY=/www/story/09-04-2003/0002011255&EDATE=THU+Sep+04+2003,+10:17+AM

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