Lloyd I. Miller III Announces Voting Intentions for Emerson Radio's Upcoming Annual Meeting

NAPLES, Fla., Dec. 10  /PRNewswire/ -- Emerson Radio Corporation (AMEX: MSN) has submitted a slate of directors to its stockholders for election at the upcoming Annual Meeting of stockholders scheduled for December 13, 2007. As a beneficial owner of more than one million shares of Emerson's common stock, Lloyd I. Miller III intends to withhold votes for all of the director nominees, other than the two continuing members of the audit committee.  Mr. Miller also intends to abstain from the ratification of auditors.  These proposals are more fully described in Emerson's Proxy Statement for the Annual Meeting.

Specifically, Mr. Miller intends to vote against Emerson's proposals for the following reasons:

-- Mr. Miller intends to withhold votes for the company-nominated directors, other than the continuing members of the audit committee, because he believes that Emerson failed to provide adequate oversight of affiliated transactions with Emerson's controlling stockholder.  As a stockholder, Mr. Miller is concerned about the recent resignation letter of one of Emerson's independent directors, which was filed by Emerson on Form 8-K on October 31, 2007.  The letter expressed the independent director's opposition to related party transactions with Emerson's controlling stockholder.

-- Mr. Miller intends to abstain from the ratification of appointment of Moore Stephens, P.C. as Emerson's independent registered public accountants for the fiscal year ending March 31, 2008. Mr. Miller intends to abstain from ratification of the auditors because of the continuing pattern of related party transactions and weaknesses in internal controls at Emerson.

Lloyd Miller is seeking solely to inform Emerson stockholders of his voting intentions and reasons for his opposition to the company-nominated directors and the ratification of the appointment of the auditors.  He is not soliciting votes of other stockholders.

CONTACT:  Lloyd I. Miller III, [phone] 

DATASOURCE: Lloyd I. Miller III



CONTACT:  Lloyd I. Miller III, [phone]

Copyright