FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec. 12, 2001-- Floor Decor, Inc., a leading home flooring big box superstore chain, today announced it has signed a definitive agreement to purchase the outstanding stock of Eagle Eye Scandinavia Distribution Ltd, an English limited private company that specializes in the marketing and distribution of automotive telematics systems and services, an industry that is anticipated to exceed $7.3 billion in four years. Terms of the deal were not disclosed.

``We are very excited about this opportunity and subject to due diligence and initial orders verification currently underway, we anticipate closing within the next 30 days,'' said AJ Nassar, Chief Executive Officer of Floor Decor, Inc.

``While Eagle Eye is a departure from our core business, it is in keeping with our mission to offer our shareholders extraordinary value and opportunity,'' said Nassar. ``We remain strongly committed to growing Floor Decor's Superstore Big Box Chain and believe that the diversity and cash flow projections provided by Eagle Eye will enable our financing strategy with the necessary capital to expand Floor Decor's chain of Big Box Superstores.''

Eagle Eye Scandinavian Distribution has the exclusive rights to market the telematics products of Eagle Eye Tracking (EET) Systems in Scandinavia and Yugoslavia. The EET product, referred to as a vehicle communications gateway, combines telecommunications and Global Positioning System technologies to provide security and communications solutions for fleet vehicle management.