LE&A Publishes Sector Report on $3 Billion Fire and Emergency/Rescue Industry

GRAND RAPIDS, Mich., Oct. 20, 2003 -- Lambert, Edwards & Associates, Inc. (LE&A), one of the Midwest's leading investor relations firms, has published a comprehensive overview of the nation's $3 billion fire and emergency-rescue industry and dynamics driving its growth.

The Grand Rapids-based firm, which specializes in working with small- and mid-cap public companies, examined the demographic, economic and industry factors that are expected to drive growth in the E/R market over the next decade:

* Increased federal funding: the Federal Assistance to Firefighters Grant Program will provide more than $1.3 billion in funding for local fire districts by the end of 2003, and another $500 million has been proposed for 2004.

* Aging fleets: about 40 percent of the nation's 27,000 fire districts operate fire trucks and E/R vehicles of 1960s and 1970s vintage. Additionally, the National Fire Protection Association is working on a proposal that would require fire trucks older than 24 years to be upgraded or replaced.

* Sprawl: population growth in suburban and rural areas is driving the need for more vehicles, as well as specialized vehicles that can fight different types of residential, industrial and wildfires.

* Homeland Security: since the terrorist attacks of September 11, 2001, communities have become increasingly aware of the need to properly train and equip their E/R personnel.

"There is a convergence of factors that should drive steady, long-term growth in the fire and emergency/rescue industry," said LE&A Managing Principal Jeff Lambert, who co-authored the report. "These drivers are not only benefiting our nation's emergency services and preparedness, but will also create considerable new opportunities for several publicly traded companies that provide services and manufacture vehicles, equipment and prevention products for the industry."

In addition to industry trends, the 8-page report identifies 15 public companies that provide products and services to the industry. LE&A represents three of those companies: Charlotte, Mich.-based Spartan Motors Inc. , which makes fire trucks, ambulances and chassis for E/R vehicles; Universal Security Instruments, Inc. (AMEX:UUU) , one of the fastest-growing firms in the $450 million domestic smoke-alarm market; and Wolverine World Wide, Inc. , a leading marketer and manufacturer of branded footwear including combat boots and tactical footwear for police, EMTs and firefighters.

The Fire & Emergency/Rescue report can be viewed on LE&A's website (www.lambert-edwards.com ). Interested investors, analysts, media or others can order a free copy of the entire report by calling 616-233-0500 or by e-mailing a request to mail@lambert-edwards.com .

Lambert, Edwards and Associates (www.lambert-edwards.com ) provides both public relations and investor relations counseling for publicly traded and closely held companies. Its clients include small- and mid-sized companies in the fire and emergency-rescue, automotive, recreational vehicle, consumer products, financial services, healthcare, manufacturing, retail and technology industries.