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VECTOR INTERSECT
SECURITY ACQUISITION CORPORATION
STOCKHOLDERS APPROVE, AND VECTOR
COMPLETES MERGER WITH CYALUME
TECHNOLOGIES, INC.
Ridgefield Park, NJ – December 19, 2008
– Vector Intersect Security Acquisition
Corporation (OTCBB: VTRQ), a special
purpose acquisition company, today
announced its stockholders approved the
Company’s previously announced proposed
acquisition of Cyalume Technologies, a
private company that is a leading
provider of safety, security and
training products for the US military
and other militaries. The merger was
approved by approximately 90% of
Vector’s stockholders. Shortly following
the shareholder vote, the two companies
completed the merger. In conjunction
with the acquisition, Vector Intersect
changed its name to Cyalume Technologies
Holdings.
The company expects that its common
stock, units and warrants will continue
to trade under the symbols VTRQ, VTRQU,
and VTRQW respectively.
Speaking of the stockholder approval,
Derek Dunaway, CEO of Cyalume said, “We
are delighted to have completed this
process and we look forward to growing
this company and creating shareholder
value in the process. We continue to see
a very strong market for our products
despite the economic slowdown, and this
merger provides us with financial
flexibility and a wealth of experience
that the Vector team brings to our board
of directors. The combination creates a
dynamic company.”
Yaron Eitan, President and CEO of Vector
said, “We are very pleased to have been
able to bring this merger to completion
in what has been a very difficult market
environment and we are excited to be a
part of this dynamic company. We are
also grateful to the many people and
investors who supported us in this
effort.”
New York headquartered Rodman & Renshaw,
LLC, a subsidiary of Rodman & Renshaw
Capital Group, Inc. (NASDAQ: RODM)
originated the transaction for and
served as the advisor to Vector
Intersect Security.
About Vector Intersect Security
Acquisition Corp.
Vector Intersect Security Acquisition
Corp. is a blank check company recently
formed for the purpose of effecting a
merger, capital stock exchange, asset
acquisition or other similar business
combination with an unidentified
operating business in the security and
defense industries.
About Cyalume Technologies
Cyalume Technologies is the world leader
in the chemiluminescent industry. We
provide dependable light for uses by
militaries, police, fire and other
public safety organizations in the U.S.,
NATO countries and the Middle East. Our
chemical lights are depended on in
emergencies such as blackouts,
industrial accidents, acts of terrorism
and natural disasters. We manufacture a
full complement of Military grade
Cyalume® brand, Industrial grade
SnapLight® brand and Consumer grade
SafetyBright® brand emergency lighting
solutions. The company employs 200
people at its locations in West
Springfield Massachusetts and
Aix-en-Provence, France.
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