Consumer Electronics Association Kicks Off Its Nationwide Free Trade Campaign at...

Consumer Electronics Association Kicks Off Its Nationwide Free Trade Campaign
at Audiovox Corporation Headquarters

HAUPPAUGE, N.Y., July 22 /PRNewswire-FirstCall/ -- The Consumer
Electronics Association (CEA)(R) began a new nationwide grassroots educational
initiative to help all Americans understand the importance of trade to
creating jobs and driving U.S. economic growth. This collaborative effort
among CEA and its membership kicked-off in high fashion yesterday morning at
Audiovox Corporation (Nasdaq: VOXX) headquarters.
CEA is engaging in this national effort to highlight the importance of
trade to American companies and most importantly, American workers. This
28-state campaign will feature a pro-trade branded bus tour that will embark
on a "road trip" throughout the country -- visiting communities across the
Nation to demonstrate the value of trade to American business and to our
Nation's economy. A formal conference was held Mayor Bloomberg and other CEA
dignitaries yesterday afternoon, but not before the CEA bus pulled into 150
Marcus Blvd. for opening remarks by Audiovox Chairman, John Shalam and
Audiovox CEO, Patrick Lavelle, who also serves as Chairman of CEA.
"America Wins with Trade is a fitting CEA slogan, because we do win. We
win by creating jobs, fueling corporate growth and by putting more money in
the hands of the consumers to aid economic expansion," said Shalam. "America
is the largest exporter of goods and services in the world. If we continue to
allow our global competitors to enter new countries before us and establish
their brands and presence, it becomes harder for us to compete and cuts down
on our exports, which has a damaging effect on the U.S. economy. The consumer
electronics industry is a vital part of America's global economy and I am
appreciative of CEA's efforts."
Spurred by trade, the consumer electronics industry is projected to
generate $1.4 trillion in direct business activity this year and directly
employ more than 4.4 million Americans. Trade plays a critical role in the
industry's health -- for example one in seven of those jobs, or about 616,000
jobs, is directly tied to America's trade overseas. Of CEA's 2,300 members,
80 percent are small and mid-sized companies with revenues of $30 million or
less. For companies of this size in particular, trade is crucial for business
growth and domestic job creation.
"Free trade fosters competition, which in the end, directly benefits
consumers as product quality is enhanced and at more affordable prices. It
also creates jobs both in and outside of the United States. The efforts
underway by CEA are of the utmost importance to Audiovox, the consumer
electronics industry and America. I would like to commend CEA for taking such
an active role in educating our legislators and the public at large about the
importance of free trade and how it benefits all Americans," stated Pat
Lavelle.
CEA has called on Congress to pursue a pro-growth trade policy that
includes:
-- Aggressively pursuing bilateral trade agreements. In the absence of an
agreement in the Doha Round of the World Trade Organization (WTO), bilateral
trade agreements offer the next best way to open foreign markets to U.S. small
businesses. Trade agreements create sales opportunities, reduce costs and
diminish uncertainties. Through trade agreements we can implement intellectual
property rights standards, establish substantive investment protections and
provide increased transparency to U.S. exporters. Currently, CEA urges
Congress to pass the Colombia, Panama and Korea Free Trade Agreements.
-- Reauthorize trade promotion authority. Without trade promotion
authority our trading partners will be reluctant to negotiate trade pacts with
the U.S. America's hands will be tied, and the U.S. will fall behind other
nations negotiating trade agreements at an unprecedented pace.
-- Eliminate non-tariff barriers. Non-tariff barriers hinder trade and
burden small companies with unnecessary compliance costs. Examples of these
barriers include cumbersome customs regulations, corrupt government
procurement processes, and most recently, a proliferation of divergent or
non-harmonized approaches to environmental standards, among others.
-- Uphold and enforce trade agreements. In addition to pursuing new
agreements, the U.S. must commit to maintaining and enforcing those agreements
already in place. The U.S. must take an aggressive stance to protect products
already covered by the WTO's Information Technology Agreement (ITA). The ITA
covers over 97 percent of the world trade in information technology products,
and provides for the elimination of duties on those covered products. But as
technology has evolved, many countries claim that the ITA does not apply to
the next generation of covered products. It is crucial for the United States
to uphold provisions of the ITA that allow for future developments of IT
products and enable companies to enjoy the full scope of the agreements
intended duty-free benefits.
"Trade isn't just vital to our companies and our industry, it is essential
to preserving America's prosperity and way of life. Our political leaders
have told us to make the case to the American people why trade is vital to our
nation's future, so we are launching this nationwide effort," said CEA
President and CEO Gary Shapiro. "The facts demonstrate that trade creates
millions of American jobs and provides billions of dollars to our economy.
When America competes in the global marketplace, our nation's economy and
workers win."
About CEA
The Consumer Electronics Association (CEA) is the preeminent trade
association promoting growth in the $161 billion U.S. consumer electronics
industry. More than 2,200 companies enjoy the benefits of CEA membership,
including legislative advocacy, market research, technical training and
education, industry promotion and the fostering of business and strategic
relationships. CEA also sponsors and manages the International CES -- Where
Entertainment, Technology and Business Converge. All profits from CES are
reinvested into CEA's industry services. Find CEA online at
http://www.CE.org. For more information on the CEA trade initiative, please
go to http://www.americawinswithtrade.com.
About Audiovox
Audiovox (Nasdaq: VOXX) is a recognized leader in the marketing of
automotive entertainment, vehicle security and remote start systems, consumer
electronics products and consumer electronics accessories. The company is
number one in mobile video and places in the top ten of almost every category
that it sells. Among the lines marketed by Audiovox are its mobile
electronics products including mobile video systems, auto sound systems
including satellite radio, vehicle security and remote start systems; consumer
electronics products such as MP3 players, digital camcorders, DVRs, clock
radios, portable DVD players, portable GPS, flat-panel TV's, extended range
two-way radios, multi media products like digital picture frames and home and
portable stereos; consumer electronics accessories such as indoor/outdoor
antennas, connectivity products, headphones, speakers, wireless solutions,
remote controls, power & surge protectors and media cleaning & storage
devices; Energizer-branded products for rechargeable batteries and battery
packs for camcorders, cordless phones, digital cameras and DVD players, as
well as for power supply systems, automatic voltage regulators and surge
protectors. The company markets its products through an extensive
distribution network that includes power retailers, 12-volt specialists, mass
merchandisers and an OE sales group. The company markets products under the
Audiovox, RCA, Jensen, Acoustic Research, Energizer, Advent, Code Alarm, TERK,
Prestige and SURFACE brands. For additional information, visit our web site
at http://www.audiovox.com.
Safe Harbor Statement
Except for historical information contained herein, statements made in
this release that would constitute forward-looking statements may involve
certain risks and uncertainties. All forward-looking statements made in this
release are based on currently available information and the Company assumes
no responsibility to update any such forward-looking statement. The following
factors, among others, may cause actual results to differ materially from the
results suggested in the forward-looking statements. The factors include, but
are not limited to, risks that may result from changes in the Company's
business operations; our ability to keep pace with technological advances;
significant competition in the mobile and consumer electronics businesses as
well as the wireless business; our relationships with key suppliers and
customers; quality and consumer acceptance of newly introduced products;
market volatility; non-availability of product; excess inventory; price and
product competition; new product introductions; the possibility that the
review of our prior filings by the SEC may result in changes to our financial
statements; and the possibility that stockholders or regulatory authorities
may initiate proceedings against Audiovox and/or our officers and directors as
a result of any restatements. Risk factors associated with our business,
including some of the facts set forth herein, are detailed in the Company's
Form 10-K for the fiscal year ended February 29, 2008 and Form 10-Q for the
fiscal first quarter ended May 31, 2008.
Contact: Glenn Wiener, GW Communications
Tel: 212-786-6011 / Email: gwiener@GWCco.com

SOURCE Audiovox Corporation

Glenn Wiener, GW Communications, +1-212-786-6011, gwiener@GWCco.com, for
Audiovox Corporation