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PRESS RELEASE RELEASE DATE: MAY 12, 1997 For Further Information Contact: Edward How, 703/293/1413 Background Note: InVision Technologies is the trade name used by Radonics®, Inc. for inspection management services provided in the corporate relocation market. U.S. Inspect™ is a subsidiary corporation of Radonics, Inc. performing inspection services in the general real estate, corporate relocation, and commercial real estate markets. InVision Technologies Announces Business Agreement With R.J. Moore & Associates, Inc. FAIRFAX, VA - InVision Technologies today announced that it has signed a letter of intent to purchase some of the retail inspection assets of R.J. Moore & Associates, Inc. of Annapolis, Maryland. Closing is anticipated to take place on May 31. When completed, the asset purchase will provide InVision Technologies with the employment contracts of R.J. Moore's top retail building consultants and the company's replacement reserve study business for homeowner and condominium associations. In addition, company founder R.J. "Bob" Moore will serve as a consultant to InVision responsible for recruiting new employee consultants for InVision and U.S. Inspect, the company's wholly-owned subsidiary for inspections in the general real estate market. "This is an exciting event for InVision," said InVision Technologies Chairman and CEO, Keith S. Fimian. "It is an agreement that will position our company for even greater growth opportunities well into the next century. We are looking forward to bringing the best that Bob Moore has to offer into our company." R.J. Moore & Associates began business operations in Annapolis, Maryland in 1980 and has since expanded into 13 states with employee building consultants. The company has an especially strong presence of building consultants in the Mid-Atlantic region and in portions of Colorado and Texas. InVision Technologies President, Brian P. Fimian, said the agreement allows the company to take immediate steps forward in new business areas without impacting InVision's corporate relocation business. "This move will not change the way we handle business in relocation," Brian Fimian said. "What it allows us to do is build on the credibility that R.J. Moore has established in the retail inspection market and the reserve study market. Our goal now is to utilize our technical expertise so that we may introduce new efficiencies into these areas in much the same way we brought exciting and practical technology advantages into the corporate relocation market." Bob Moore said the agreement guarantees a bright future for his consultants and other top employees of R.J. Moore. "Some deals just feel right, and this is one of those deals," Moore said. "We are truly excited about this opportunity because we can contribute immediately and well into the future as InVision expands into the general real estate market with U.S. Inspect." InVision Technologies also formally announced today that Tom Carroll, formerly of AmeriSpec, is heading the company's U.S. Inspect venture. Carroll, who has worked with the company for 10 months to develop U.S. Inspect, is Director of Operations, Network Development. "Adding Bob Moore into our fold with Tom Carroll and Jules Falcone gives our company three of the most highly-regarded professionals in the inspection industry," Keith Fimian said. "I cannot think of anything that InVision Technologies or U.S. Inspect will not be able to do with these three men leading our team."
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