Devcon International Corp. Announces Signing of Restructuring Agreement with Preferred Investors

BOCA RATON, Fla., Oct 10, 2008 /PRNewswire-FirstCall via COMTEX/ -- Devcon International Corp. (OTC Bulletin Board: DEVC) announced today that it has reached an agreement with its Preferred Investors on a restructuring of their security. The restructuring follows the recently announced filing of Form 15 with the Securities and Exchange Commission ("SEC") to voluntarily deregister its common stock under the Securities Exchange Act of 1934.
In commenting on the restructuring, Mr. Richard Rochon, the Company's Acting Chief Executive Officer, stated, "We are pleased that during a difficult time in our financial markets we have been able to reach an agreement with our Preferred Investors that provides stability to Devcon. We believe that this announcement, along with our prior announced deregistration, clears the way for us to focus on our operations and achieve maximum shareholder value."

About Devcon

Devcon International's wholly-owned subsidiary, Devcon Security (http://www.devcon-security.com/), is a leading provider of installation, monitoring and related electronic security services, currently serving more than 140,000 commercial and residential customers in Florida, New York City and Staten Island. Since February, 2005, Devcon has made 3 significant acquisitions of full-service electronic security services companies with significant concentrations throughout Florida and the New York Metropolitan region. Currently, Devcon Security Services Corp. is the third largest security monitoring and alarm company in Florida and the fourteenth largest in the U.S.