LAS VEGAS, Oct. 9 /PRNewswire-FirstCall/ -- Klegg Electronics, Inc. (Pink Sheets: KLGG) is pleased to announce that the Company is seeking acquisition candidates in the property preservation industry. The company is currently in discussions with several preservation companies and has begun its initial due diligence on each. Management's focus is to identify and enter into an agreement with the best possible acquisition candidate for the company.

Klegg Electronics, Inc. plans to expand into the property preservation business by initially acquiring companies in Nevada, California and Arizona. Property preservation specialists conduct maintenance and repairs to residential properties that have been acquired by mortgage lenders through foreclosure. Those repairs can include installing new drywall, floor and light fixture replacement and upgrades, plumbing and hardware replacements, appliance installation, cabinet and vanity replacement, as well as exterior repairs and yard work. According to one property preservation and real estate specialist, the trend will continue at its current pace of over a million and a half foreclosures a year for the next five to six years before it returns to a normal pace of approximately 750,000 per year.

"We're very excited about entering this rapidly expanding business. While it's unfortunate that many people do lose their homes to foreclosure, some of the foreclosed homes require a considerable amount of renovation and restoration work to make them salable. As the trend continues, more homes will be left in disrepair. The effort we put in to restoring those homes will result in profit for ourselves and our shareholders," stated Dennis Gentles, CEO of Klegg Electronics, Inc.

About Klegg Electronics, Inc.:

Klegg Electronics, Inc. is a manufacturer and distributor of high quality electronics products for business and consumers. The Company has focused on designing a variety of products that work seamlessly together in both commercial and home environments. The Company is in the process of expanding its business model to include the preservation of residential properties that have been acquired by mortgage lenders through foreclosure.

Safe Harbor Statement: This press release contains or may contain forward- looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

SOURCE Klegg Electronics, Inc.