TEMPE, Ariz., July 24 /PRNewswire-FirstCall/ -- Circuit Research Labs, Inc. (OTC:CRLI) (BULLETIN BOARD: CRLI) announced today that it has entered into and closed a Purchase Agreement with Harman Pro North America, a wholly owned subsidiary of Harman International Industries, Incorporated (NYSE:HAR). Pursuant to the purchase agreement, on Friday July 13th 2007, CRLI purchased for $1.5 million dollars cash all its promissory notes and shares of its common shares owned by Harman Pro North America. The notes had been issued by CRLI and its President, C. Jayson Brentlinger, to Harman in connection with transactions between the parties several years ago. The aggregate remaining principal balance of the notes repurchased was $3,265,030. The 1,638,457 shares repurchased represented approximately 18.9% of the total number of CRLI shares then outstanding. Funding for the $1.5 million purchase price was provided by Jayson Russell Brentlinger, father of the company's President, CEO and Chairman C. Jayson Brentlinger. Under the terms of the purchase agreement, Harman transferred promissory notes made by CRLI totaling $2.3 million plus unpaid interest, the shares of common stock owned by Harman, and promissory notes totaling $1.0 million dollars made by C. Jayson Brentlinger in connection with an earlier purchase by Mr. Brentlinger of 2,104,000 shares of CRLI stock then owned by Harman in April 2005. Commenting on today's announcement, C. Jayson Brentlinger, President, CEO and Chairman of Circuit Research Labs, Inc. stated, "We have enjoyed a great working relationship with Harman over the past seven years, and now with this final settlement we have successfully concluded our purchase of Orban, Inc. from Harman." Brentlinger continued, "I can't say enough about the professionalism of the Harman team, they have always been very honest and fair in all our many different transactions, an attitude that starts with the company's CEO Sidney Harman and then to every member of the Harman team." Circuit Research Labs, Inc. and its subsidiaries lead the industry in the design and manufacture of audio processors for radio, television and Internet broadcasting. Its websites are http://www.orban.com/ and http://www.crlsystems.com/. Circuit Research Labs, Inc. Forward-Looking Statements This news release may contain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Management's anticipation of future events is based upon assumptions regarding levels of competition, research and development results, raw material markets, the markets in which the company operates, and stability of the regulatory environment. Any of these assumptions could prove inaccurate; and therefore, there can be no assurance that the forward-looking information will prove to be accurate. About Circuit Research Labs, Inc. Circuit Research Labs, Inc. is a manufacturer of high-quality digital and analog audio processing, transmission encoding, and noise reduction equipment. Circuit Research Labs, Inc. is in the market for radio, TV and Internet audio processing. As technology evolves, Circuit Research Labs continues to innovate with state-of-the-art audio processing products for DAB, DTV and streaming media. The Company purchased Orban(R) in May of 2000. Orban was founded in 1970 by Bob Orban, who is the world's foremost expert in transmission audio processing for broadcast. Orban leads the industry in the design and manufacture of audio processors for radio, television and Internet broadcasting. Recognized for its standard-setting Optimod(R) digital audio processors and the Opticodec(R) codecs, the Orban name has become synonymous with reliable, high performance products. Today, its versatile audio processing equipment and codecs are the products of choice in fast-paced production environments worldwide. DATASOURCE: Circuit Research Labs, Inc. CONTACT: David Rusch of Orban, Inc., +1-480-403-8300, fax, +1-480-403-8301, ., for Circuit Research Labs, Inc. Web site: http://www.orban.com/

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