LAN Lancer Cp

Suit Against Lancer Dropped SAN ANTONIO, Aug. 4 /PRNewswire-FirstCall/ -- Lancer Corporation (AMEX:LAN) today announced that the purported class action lawsuit filed against it on May 14, 2004 by TDH Partners, has been voluntarily dismissed by the plaintiff, without prejudice. The filing of the lawsuit by TDH Partners had resulted in the issuance of several press releases by other plaintiff law firms attempting to participate in the single lawsuit. Lancer was never served with the lawsuit. To Lancer's knowledge, no other class action litigation or shareholder lawsuit has been filed against the Company. The voluntary dismissal of the purported class action by the plaintiffs follows the news that BDO Seidman, LLP, Lancer's independent auditor, had completed its reaudit of Lancer's financial statements for the years ended December 31, 2000, 2001 and 2002, and that the reaudit did not result in any change in the previously disclosed financial statements. The results of the reaudit were originally disclosed by Lancer in a news release dated July 1, 2004. Lancer Corporation is a leading innovator, manufacturer and marketer of beverage dispensing systems serving customers worldwide. Headquartered in San Antonio, Texas, Lancer also maintains facilities in Mexico, Australia, Belgium, New Zealand and the United Kingdom. Lancer is a vertically integrated manufacturer with 2003 sales of $113 million, and employing approximately 1,400 people. Lancer designs and manufacturers a complete range of fountain soft drink dispensers, frozen beverage dispensers, dispensing valves, beer dispensing equipment, and an extensive line of beverage dispensing parts and accessories, which are marketed through a network of Company sales representatives and authorized distributors. This press release contains various forward-looking statements and information that are based on management's belief as well as assumptions made by and information currently available to management. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements contain certain risks, uncertainty and assumptions. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. Contact: Scott Adams 210-310-7065 DATASOURCE: Lancer Corporation CONTACT: Scott Adams of Lancer Corporation, +1-210-310-7065 Web site: http://www.lancercorp.com/

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