Telect announces move

October 31, 2005 Liberty Lake, WA -- Telect has announced plans to move its corporate headquarters and technology center to a smaller building adjacent to its current location in Liberty Lake, Washington. The announcement comes after the company's owners entered into an agreement to sell the 200,000 sq. ft. building the company presently occupies to Itron, Inc.

Oct 31st, 2005

October 31, 2005 Liberty Lake, WA -- Telect has announced plans to move its corporate headquarters and technology center to a smaller building adjacent to its current location in Liberty Lake, Washington. The announcement comes after the company's owners entered into an agreement to sell the 200,000 sq. ft. building the company presently occupies to Itron, Inc.

Telect says its decision to sell the facility is consistent with its strategy to maintain its global headquarters and technology center in Liberty Lake while it focuses its manufacturing efforts at plants in Plano, Texas; Guadalajara, Mexico; and Wroclaw, Poland. The new facility Telect will occupy is approximately 52,000 square feet. The sale is subject to completion of due diligence requirements to be performed by Itron, and is expected to be completed by the end of the year.

"The sale of the building is a perfect solution for both Telect and Itron," comments Wayne Williams, Telect's president and CEO. "Itron has outgrown its present location, and we are excited to rapidly engage in our new global strategy, which requires a smaller, more innovative footprint."

"Telect remains committed to the community of Liberty Lake. Additionally, the move and reduction in space makes Telect more cost effective and competitive in our global market," adds Stan Hilbert, Telect's vice president and CFO.

Telect employs 800 people globally, with approximately 160 at its Liberty Lake headquarters. The privately-held company designs, manufactures, and markets network connectivity products, including fiber-optic connectivity products and digital cross-connect systems, as well as power distribution and protection products.

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