Cyalume Technologies Holdings, Inc. (OTCBB:CYLU), today announced that it has completed the acquisition of Combat Training Solutions, Inc. (CTS) for a $1.0 million consideration split evenly between cash and stock plus an earn-out based on 2012 and 2013 performance. CTS is a leading developer and manufacturer of non-pyrotechnic, proprietary battlefield effects simulator products and complementary training services. 

CTS, based in Colorado Springs, Colorado, provides customers with realistic training simulation devices and their associated consumables.  These products allow military and law enforcement professionals to maintain operational readiness through safe, live training and hands-on situational exercises.  CTS has been awarded a number of military contracts in recent years including the U.S. Army PEO STRI’s CARTS (Common Army Ranges and Target Systems) contract and the 120th Infantry Support Brigade program management and exercise support services contract.  CTS is expected to generate in excess of $3.4 million of revenue and $0.5 million of EBITDA in 2011.

The acquisition of CTS augments Cyalume’s market-leading position in the non-explosive training and munitions market by introducing a collection of new technologies, as well as complementary products that can be enhanced through the integration of Cyalume’s unique chemical-light technology.  Together, the companies will continue developing new products that safely and realistically simulate non-pyrotechnic explosions for training and tactical applications. The opportunity to increase its presence in the training and tactical markets supplements Cyalume’s long-term strategy of expanding its business into related fields where its technical expertise can be fully leveraged. With increased access to end-users through CTS’ contract vehicles and customer base, Cyalume will be better positioned to introduce its innovative technology directly to military and law enforcement agencies.

“We are very excited to join forces with Tony Colon and his team at CTS to form a leading, non-pyrotechnic battlefield training and tactical solutions provider,” said Derek Dunaway, president and CEO of Cyalume.  ”With CTS as our partner, we will be able to expand and leverage the applications we have developed for non-pyrotechnic munitions into the broader training and simulation market. The CTS acquisition represents an extension and acceleration of Cyalume’s strategy to bring our technology into a wide array of products that allow for safer yet still highly realistic training to our armed forces. ”

Tony Colon, president and CEO of CTS, said, “This transaction represents a landmark opportunity for CTS to gain access to the resources necessary to capture the emerging opportunities that we are seeing in the global battlefield simulation training market.  The combined organizations’ technology platform and sales channels will ensure that we are well-positioned for continued growth.”

The cash consideration portion of the transaction will be paid from Cyalume’s working capital. The transaction was unanimously approved by the boards of directors of both companies.

About Cyalume Technologies, Inc.

Cyalume Technologies is the world leader in chemiluminescent (chemical-light) technology, producing different variations of chemical-light products in all light wavelengths for the ammunition, military and public safety markets. The products provide dependable light solutions for training and battlefield operations, safety and emergency demands and non-toxic munitions alternatives. Cyalume is the exclusive supplier to the U.S. and NATO-country militaries for all of their chemical-light needs and operates manufacturing facilities in the U.S. and France. Through its subsidiary Cyalume Specialty Products, Cyalume manufactures all of its active chemical components in the U.S. The Company has strategic partnerships with Rheinmetall Waffe Munition, GmbH, General Dynamics and Fiocchi Ammunition.

The Cyalume Technologies Holdings, Inc. logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=8101

About Combat Training Solutions, Inc.

Combat Training Solutions, Inc. (CTS) is a Service-Disabled Veteran-Owned Small Business (SDVOSB) and aHUBZone-certified company that designs, manufactures and integrates the most sophisticated Non-Pyrotechnic Battlefield Effects Simulators (BES) and Improvised Explosive Device (IED) Simulators available today. 

CTS was one of the first companies to successfully harness the special effects used in the sport of paintball and adapt the technology to realistic military and law enforcement training.  Our innovative non-pyrotechnic systems enable Direct Contact Training (DCT), offering a live training experience that is more realistic and better prepares Warfighters for in-theater encounters with roadside vehicle-borne and booby-trap IEDs.

CONTACT: Aimee Gordon
Investor Relations
413-386-3434
mailto:agordon@cyalume.com

Aegis Capital Corp. acted as lead book-running manager and Chardan Capital Markets, LLC acted as co-book-running manager of the offering.  Loeb & Loeb LLP acted as counsel to Selway Capital Acquisition Corporation, and ZAG/S&W LLP acted as counsel to the underwriters.

The offering of these securities is being made only by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the final prospectus relating to the offering may be obtained for free by visiting the U.S. Securities and Exchange Commission website at http://www.sec.gov. Alternatively, a copy of the prospectus related to this offering may be obtained from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 11th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com.
IPACSM is a registered servicemark of Loeb & Loeb LLP

Contact:
Selway Capital Acquisition Corporation
Edmundo Gonzalez
(201) 541-1083
egonzalez@selwaycapital.com
www.selwayacquisitioncorp.com

The Company’s units are expected to be quoted on the OTC Bulletin Board on November 8, 2011 under the ticker symbol “SWCAU”. The Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 units to cover over-allotments, if any.

Prior to the effectiveness of the public offering, the Company consummated a private placement to the Company’s sponsor, Selway Capital Holdings, LLC, of 2,333,333 insider warrants at a price of $0.75 per warrant. The insider warrants otherwise will be substantially similar to the warrants sold in the public offering. No placement fees will be payable in connection with the private placement. The Company will deposit $20,600,000 of the gross proceeds of the public offering and private placement into a trust account maintained by American Stock Transfer & Trust Company, LLC, acting as trustee.

Aegis Capital Corp. acted as lead book-running manager and Chardan Capital Markets, LLC acted as co-book-running manager of the offering. Loeb & Loeb LLP acted as counsel to Selway Capital Acquisition Corporation, and ZAG/S&W LLP acted as counsel to the underwriters.

The offering of these securities will be made only by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the final prospectus relating to the offering, when available, may be obtained for free by visiting the U.S. Securities and Exchange Commission website at http://www.sec.gov. Alternatively, a copy of the prospectus related to this offering may be obtained from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 11th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com.

IPAC^SM is a registered servicemark of Loeb & Loeb LLP
Contacts

Selway Capital Acquisition Corporation
Edmundo Gonzalez, 201-541-1083
egonzalez@selwaycapital.com

JFC, based in Bound Brook, New Jersey, will continue to provide its customers and corporate partners unique specialty chemical compositions as it has for the past forty years. JFC has twenty-five employees including seven highly qualified chemical engineers. Over the past twelve months JFC has generated in excess of $5.0 million of revenues and 1.0 million of EBITDA.

The acquisition of JFC, a long-time Cyalume partner and provider of chemiluminescent technology, will substantially augment the Company’s R&D and production capabilities. JFC offers a wide range of services that will accelerate the development and deployment of new chemical-light products. Vertically integrating the chemical manufacturing process at a United States based facility will also allow Cyalume to more effectively manage its supply chain and provide the ability to manufacture all of its active chemical components domestically.

Derek Dunaway, president and CEO of Cyalume, said, “The strategic acquisition of JFC’s chemiluminescent expertise and production capabilities will enhance Cyalume’s ability to bring to market innovative products as well as improve our existing product performance. The combination will allow Cyalume to address the military’s most demanding chemical- light technology requirements including the development of new training and tactical chemiluminescent ammunition applications.”

James Shleck, president and CEO of JFC, said, “This transaction offers significant value for JFC’s customers, partners and employees. Our long working relationship with Cyalume and their commitment to advance our core high-performance specialty polymers and pharmaceutical products through this combination will create compelling growth opportunities. We look forward to working with our colleagues at Cyalume to deliver uninterrupted solutions to existing and new customers alike.”

The cash consideration portion of the transaction will be paid from Cyalume’s working capital. The transaction was unanimously approved by the boards of directors of both companies.

Conference Call Information

Cyalume management will host a conference call with financial analysts and investors to discuss this announcement today at 12:00 p.m. ET. The toll-free dial-in number for the call is (877) 312-7507, conference ID: 96432961. A transcript of this call will be available on the Cyalume investor relations webpage shortly after the call concludes.

About Cyalume Technologies Holdings, Inc.

Cyalume Technologies is the world leader in chemiluminescent (chemical-light) technology. The Company’s suite of visible and non-visible chemical-light products provide dependable training and battlefield operation light solutions to the United States and NATO country militaries as

well as to safety professionals across the globe. Products also include training and tactical chemiluminescent ammunition payloads for both military and commercial markets that offer a non-pyrotechnic, environmentally-friendly alternative to conventional ammunition. Cyalume manufactures its products in West Springfield, Massachusetts and Aix-en-Provence, France. For more information, please visit the Company’s web site: www.cyalume.com.

The Cyalume Technologies Holdings, Inc. logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=8101

CONTACT: Aimee Gordon

Investor Relations

413-386-3434

agordon@cyalume.com

Ridgefield Park, NJ, June 1, 2011 — DVTel, Inc., multiple award-winning market leader in Smart Security Solutions for video surveillance, today announced that it strengthened its existing relationship with megapixel technology leader Arecont Vision by participating in their MegaLab™ Certification.

DVTel’s Smart Security Solutions include the flagship Latitude Network Video Management System; the Solus Video Management System (VMS); a full line of IP Cameras including the newly released Quasar Smart H.264 High Definition family; IP encoders; ioimage intelligent video analytics; and the cutting-edge intelligent Security Operations Center (iSOC) command and control room applications including Mobile, plug-in, and Google Earth apps.

Arecont Vision’s MegaLab™ is a dedicated test environment located in the engineering wing of Arecont Vision’s headquarters in Los Angeles, CA. The MegaLab™ is a comfortable, real-life testing environment with real cameras on a real network. Developed to certify the level of integration with the industry’s top Video Management Software (VMS) platforms, the MegaLab™ ensures that customers can feel confident in picking a proven and certified solution. The testing was performed by a combination of Arecont Vision and DVTel engineers.

MegaLab™ Includes:

• Dedicated gigabit network
• Server rack with KVM to secure partners appliance equipment
• A variety of server/storage solutions from industry leading manufacturers
• A quad core client PC with dual 24‖ display in a clean work environment overlooking the production area of the popular MegaDome® series
• More than 85 Arecont Vision cameras, a sample of every make and model that Arecont Vision currently ships plus additional load cameras
• Three certification tests: Camera Integration, Feature Integration, Load Testing
• Additionally, Arecont Vision is kicking off its first annual awards program and Arecont Vision is pleased to announce that DVTel is the proud recipient of the following honors:
• Technology Partner of the Year – Fastest Growing Partner
• Technology Partner of the Year – Australia & New Zealand

DVTel appreciates the acknowledgement of our close teaming partnership. We are committed to providing our customers with the solutions they require, and the Arecont Vision megapixel cameras are in strong demand. The DVTel Latitude NVMS platform is an open platform supporting integration to many security software systems and to the world’s leading IP camera manufacturers. Arecont Vision has done things right. They have built a good product. They have built a good sales and marketing team. And they know how to partner. Together we enjoy many high profile end user customers”, says Paul Smith, EVP. ―Multi- megapixel cameras are Arecont’s strength, and the number of projects utilizing our combined solutions continues to increase year after year.

Arecont Vision and DVTel are partners with a single global vision — to provide industry leading IP surveillance solutions,”said Raul Calderon, Arecont Vision Senior Vice President of Marketing and Product Management. ―DVTel’s MegaLab™ certification is an important part of their commitment to pairing Arecont Vision megapixel cameras with DVTel recording and management systems, resulting in high reliability and usability for customers.

For More Information:
DVTel, Inc.
65 Challenger Road
Ridgefield Park, NJ 07660
201.368.9700 201.368.9700
Fax: 201.368.2615
Order Fax: 201.712.0343
info@dvtel.com

Chatsworth, CA and Ridgefield Park, NJ, May 16, 2011 — DataDirect Networks (DDN), the world’s largest privately-held information storage company, and DVTel, Inc., the multiple award-winning market leader in Smart Security Solutions for video surveillance, today announced a massively scalable video surveillance management infrastructure with guaranteed frame quality and 100% protection against data corruption.

With this unique product offering, customers can seamlessly expand from a few hundred to tens of thousands of end-points in step with budgets and growing requirements. As customers add cameras and sensors, they simply add capacity to their current data storage infrastructure.

This “Pay as you Grow” model is based on the integration of DDN’s S2A6620, S2A9900 and SFA10000 information management systems with DVTel’s Latitude Network Video Management System (NVMS) V6.1 and eliminates over- provisioning, thereby saving customers up to 200% on system maintenance, cooling and valuable datacenter floorspace. “We are very excited about this joint product offering as there is no other video surveillance solution on the market today that provides the business value that DDN and DVTel can provide,” said Harvey Kohli, Vice President of Business Development for DDN’s Physical Security Business Unit. “Customers can now access video content much faster and more reliably, regardless of the growth in the number of end-points.”

“DVTel’s large, enterprise customers benefit from the ‘Pay as you Grow’ model, not just for budget reasons, but as an added protection to their investment. The DDN/DVTel embedded solution builds on an intelligent storage appliance that scales from 100TB to 3.6PB, so our customers only pay for storage when the system demands it. Simply add more drives whenever needed,” said Paul Smith, EVP of DVTel. “Today, more than ever, our customers are seeking a cost effective way to manage expansion of their surveillance initiatives. DDN provides the storage platform to address the need.”

Leveraging the integrated DVTel-DDN surveillance architecture, customers can: Massively scale DVTel’s Smart Security Solution and support video surveillance deployments to tens of thousands of cameras Guarantee quality of service with no frame dropping; regardless of any hardware and/or software failures. Accelerate access to video surveillance data with archive retrieval rates of over 1GB/s per system and latency as low as 1ms. Achieve 300% greater performance efficiency and NVR scalability compared to iSCSI-based methods of CCTV video storage. Enjoy a smaller footprint that cuts cooling costs and datacenter floorspace

For More Information contact:
DVTel, Inc.
65 Challenger Road
Ridgefield Park, NJ 07660
201.368.9700 201.368.9700
Fax: 201.368.2615
Order Fax: 201.712.0343
info@dvtel.com

DVTel’s strong commitment to HD and Smart Camera Systems is demonstrated with the release of the most comprehensive line of products on the market today. With eight new full frame-rate, H.264 HD 720p and 1080p fixed and mini dome cameras, DVTel now offers a camera for every type of installation and environment.

All of the Quasar HD Smart Cameras are equipped with advanced tamper detection, video motion detection, edge-based smart search metadata, and 3D Digital Noise Reduction. Other features include up to seven days of recording on the edge, Wide
Dynamic Range, and web-based camera configuration. For easier field installation and maintenance, the mini-domes have the option of motorized lenses. The Quasar HD Smart Camera series has the widest field of view in the industry today. Quasar cameras let you see The Big Picture by providing up to a 110° field of view.

The Quasar HD Smart Cameras are a part of the DVTel Snap-In Camera System with interchangeable housing modules. The flexibility of changing camera modules using the same coordinated camera housing system allows for upgrades from SD to HD without going through the expense of additional electrical wiring or construction.

DVTel’s Set It and Forget It solution with auto-tune Smart Picture Quality (SPQ) settings ensures the highest picture quality across the widest range of operating conditions. The motorized lens options available on the Quasar Mini-Domes permit remote zoom and focus adjustments or just click-to-focus using fully automatic HD precision focusing. With this new series of cameras comes a full complement of sales design tools available on DVTel’s new Value Added Reseller (VAR) Partner Portal. In addition, DVTel is kicking off its new camera certification training to educate partners on better installation,
operation, maintenance, and optimization techniques of the Quasar HD Smart Camera series.

“The Quasar Smart Camera Series’ image quality was judged superior based on shootouts against some of the biggest names in the industry at a jet engine propulsion lab recently. We were the only manufacturer that could read a license plate at the specified
distance.” says Ed Thompson, CTO. “In our labs we have benchmark tests that we perform against all of the usual suspects, and our 3200 and 4200 series models are coming up with the best picture quality. We can say with confidence that this line of
cameras is second to none.”

DVTel’s Quasar Smart Camera Series is ONVIF-compliant to today’s specifications, and DVTel is committed to provide firmware updates for all cameras in the field with support for future ONVIF releases as the standards evolve. When ONVIF V2 is approved, DVTel will provide support for this release for all Quasar Smart Cameras. See all of DVTel’s Smart Security Solutions live at IFSEC 2011 at Stand 4/E20 in Birmingham, UK the week of May 16, 2011.

For More Information:
DVTel, Inc.
65 Challenger Road
Ridgefield Park, NJ 07660
201.368.9700 201.368.9700
Fax: 201.368.2615
Order Fax: 201.712.0343
info@dvtel.com

This press release and the accompanying scheduled investor conference call include forward-looking statements concerning sales and operating earnings. These forward-looking statements are based upon management’s expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company and which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to: the effect of regional and global economic and industrial market conditions including our expectations concerning their impact on the markets we serve; the effect of conditions in the financial and credit markets and their impact on the Company and our customers and suppliers; the impact of the Company’s cost reduction initiatives; the Company’s ability to execute its business plan to meet its sales, operating income, cash flow and capital expenditure guidance; the impact on the Company’s gross profit margins as a result of changes in product mix; the Company’s vulnerability to industry conditions and competition; the effect of any interruption in the Company’s supply of raw materials or a substantial increase in the price of raw materials; ongoing capital expenditures and investment in research and development; compliance with any changes in government regulations and environmental and health and safety laws; the effect on the Company’s international operations of unexpected changes in legal and regulatory requirements, export restrictions, currency controls, tariffs and other trade barriers, difficulties in staffing and managing foreign operations, political and economic instability, difficulty in accounts receivable collection and potentially adverse tax consequences; the effect of foreign currency exchange rates as the Company’s non-U.S. sales continue to increase; reliance for a significant portion of the Company’s total revenues on a limited number of large organizations and the continuity of business relationships with major customers; the loss of key personnel; the nature and extent of military operations being conducted by customers.
Actual results and events may differ significantly from those projected in the forward-looking statements. Reference is made to Cyalume’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2010, its quarterly reports on Form 10-Q, and other periodic filings, for a description of the foregoing and other factors that could cause actual results to differ materially from those in the forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Conference Call

A live Internet broadcast of the Company’s conference call discussing the first quarter results can be accessed via the investor relations page on Cyalume web site (www.cyalume.com) on Tuesday, May 10, 2011 at 11:00 a.m. Eastern time. To participate, callers should dial 877-312-7507 or 253-237-1164. Participants should ask for the “Cyalume Technologies Conference Call, ID number: 62530505″. A simultaneous webcast will also be available at:
http://investor.cyalume.com/eventdetail.cfm?eventid=96146
In addition, a replay of the conference call will be available shortly after the call on the Investor Relations page of the company website at: http://investor.cyalume.com/index.cfm.

For More Information Contact:
Cyalume Technologies, Inc.
96 Windsor Street
West Springfield, MA 01089
Toll free: (888) 858-7881
Direct: 413-858-2500
info@cyalume.com

“Ensuring that every child becomes a high school graduate is tantamount to the mission of the Alabama State Department of Education,” said Dr. Kay Atchinson Warfield, Graduation Success and Dropout Prevention Coordinator for the ALSDE. “We are working with STI and other critical education stakeholders to provide innovative, yet rigorous programs that help students
develop the knowledge and skills they need to be successful.”

The Dropout Prevention Awareness Campaign, originated with a state law enacted in 2009, includes the work of several community, legislative and educational supports. ALSDE and local school systems, the Alabama Select Commission on High School Graduation and Student Dropouts, America’s Promise Alliance, The David C. Matthews Center for Civic Life and The
Mattie C. Stewart Foundation are working collaboratively to identify at-risk students, offer programs or services, and encourage school personnel, parents and community leaders to help reverse the trend of dropouts in the state. With access to the Graduation Tracking System, additional data analysis tools, intervention strategies and programs, and the coordination of community wrap-around services for families and students, school leaders can address students’individual learning needs and get them back on the path to graduation.

Integrated within InformationNOW through its ad-hoc reporting module, the Graduation Tracking System is an innovative and informative tool used to identify at-risk students based on major indicators for school dropout: Attendance (absences), Behavior (teacher referrals, suspensions, and more) and Course Credits (based on grade level). Local education agencies have the option to include additional indicators at their discretion. The system provides alerts to counselors, graduation coaches, administrators, response-to-intervention coordinators, and other educators as needed for students who are at risk of school failure.

InformationNOW is a sophisticated data management system that provides a complete solutionfor student data collection, analysis, and reporting accessible through a customizable portal for ALSDE and STI Partner for Graduation Tracking System, each user, such as administrators, teachers, and parents. The system is based on best practices STI has developed over 25 years of experience in education data management, while also taking advantage of the latest technology. In addition, InformationNOW serves as the foundation for the state’s longitudinal data system that allows every school and district in the state and the ALSDE
to track students continually throughout their entire school careers to inform policy and program decision-making.

“Alabama is leading the way for other states and education policy-makers in developing statewide programs and services that ensure student success, and in collecting and analyzing time-sensitive information critical for education reform,” said Ruby McCullough, CEO of STI. “We are proud to partner in the state’s collaborative effort to accomplish its aggressive goals for
dropout prevention and effectively support the education community.”

For More Information Contact:
USA Technology and Research Park
739 North University Blvd, Suite 2000
Mobile, AL 36608
(800) 844-0884
www.sti-k12.com