Sept 13 Frequency Electronics Inc :
* Frequency Electronics announces agreement with Privet Fund
and the addition of two new board members
* Reached an agreement with Privet Fund Lp, Privet Fund
Management LLC and Ryan Levenson
* As part of foregoing arrangement, general Joseph P.
Franklin has resigned from board
* Frequency Electronics Inc says frequency has expanded size
of board from seven to eight directors
* Agreement between frequency and privet group contains
customary standstill provisions.
* Appointed Levenson and general Lance Lord to board
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