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With the studies detroit pistons significant reductionin pistons gathers facility size, the Company expects to realize annual facility cost savings of$1.4 million on an ongoing basis Pistons Palace Of Auburn Hills tickets . The Company expects to finalize thesearrangements during the fourth quarter of fiscal 2009. The Company also recordeda $0 Pistons Palace Of Auburn Hills .3 million restructuring charge for severance related to headcountreductions during the quarter.As of November 30, 2008, the Company was not in compliance with the minimumEBITDA covenant as set forth in its credit agreement with Bank of America. TheCompany is working with its lender to obtain a waiver or amendment; however,there can be no assurance that such waiver will be obtained.

If no amendment orwaiver is obtained, the Company will be in default under the provisions of thecredit facility and the Company’s lender may accelerate repayment detroit news pistons . In thisevent, the Company may need to raise funds to repay its lender, and there can beno assurance that such funds will be available Pistons Palace Of Auburn Hills tickets – nba Pistons Palace Of Auburn Hills – nba .”Our third quarter results reflect the extremely challenging macroeconomicconditions, which continue to deteriorate, combined with the unprecedentedweakness in the credit markets,” said Steve Muellner, President and ChiefExecutive Officer of Meade chauncey billups . “Still, we performed reasonably well considering theextent of negative conditions in the marketplace and the impact on manufacturersand retailers globally, especially for sales of discretionary goods such astelescopes rasheed wallace pistons.com . We improved gross margins and continued to realize cost savings fromthe Company’s restructuring efforts ben wallace .

To further reduce our overhead costs, weexpect to terminate our Irvine lease and move to less expensive real estate bythe end of the fiscal year, with significant cost savings to be realized infiscal 2010 . In short, management has been working diligently to removesignificant operating expense from the Company’s overhead costs, in order tobetter align our cost base with the lower activity levels.”Mr tayshaun prince . Muellner concluded, “The overall turnaround of the Company is a continuingeffort, and we will continue to look for opportunities to further reduce ourcost structure, navigate through the economic malaise and better position theCompany for profitability.”ABOUT MEADE INSTRUMENTSMeade Instruments is a leading designer and manufacturer of optical productsincluding telescopes and accessories for the beginning to serious amateurastronomer pistons basketball . Meade offers a complete line of binoculars that address the needs ofeveryone from the casual observer to the serious sporting or birding observer.The Company distributes its products worldwide through a network of specialtyretailers, mass merchandisers and domestic and foreign distributors nba.com – pistons . Additionalinformation on Meade is available at”Safe-Harbor” Statement under the Private Securities Litigation Reform Act of1995: This news release contains comments and forward-looking statements basedon current plans, expectations, events, and financial and industry trends thatmay affect the Company’s future operating results and financial position,including, without limitation, the Company’s expectations that the cost savingsand improved gross margins can be sustained and will be a key driver towardprofitability; that the Company will continue to implement further headcount andother cost reductions; and that the Company will finalize a solution for itsexcess facility space and that the savings will be in the amount projected bythe Company. Such statements involve risks and uncertainties which cannot bepredicted or quantified and which may cause future activities and results ofoperations to differ materially from those discussed above. Such risks anduncertainties include, without limitation: the Company’s ability to execute onits restructuring initiatives and achieve the projected cost savings, as well asthe potential need for further restructuring activities; the Company’s abilityto obtain a waiver or amendment from Bank of America for the period endedNovember 30, 2008; the Company’s ability to remain in compliance with its creditfacility covenants thereafter; the levels of revenue achieved and the negativeimpact on liquidity and bank covenants should the Company not meet its revenueprojections; the Company’s ability to successfully finalize an arrangement forits excess facility; as well as other risks and uncertainties previously setforth in the Company’s filings with the Securities and Exchange Commission.

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