ARMON ANNOUNCES EMPLOYEE STOCK OWNERSHIP PLAN

March 22, 2000 - Armon, Inc., holding company for sprinkler contractors
Fire Protection Industries, Inc.(FPI) Bensalem PA, F.E Moran Fire
Protection and F.E. Moran Special Hazards Systems, Northbrook IL,
has announced formation of an Employee Stock Ownership Plan (ESOP).
Under the terms of the plan, approximately 42% of Armon's stock will be
acquired and allocated to employees at absolutely no cost to recipients.

In a joint communiqué, the Chairman and CEO, Owen A. Moran and
President John G. Puder, explained this change in historic structure as
a long-term commitment to a fundamentally new operating vision.  Owen
Moran commented, "We have fielded a number of inquiries about our
business and their availability.  We responsibly have given thought to
these offers and have considered the changing environment and how we
are positioned for evolving markets.

On the analysis which led to the ESOP announcement, John Pruder
states," We came to recognize that the benefits of entering into a new
partnership were several.  We also recognized that those benefits would
only be realized by making the right choice of whom to partner with."  In
commenting on the status quo, John remarked, "we have appreciated our
independence and the close personal relationships that now exist.  We
are successful and and we have strengthened our capabilities.  Our
customers are confident in our ability because our performance betters
our promises and our promises are aggressive in service to clients
requirements.  We exhibit character in what we do because we care to
make a difference."

With the strength and success that currently exists, why risk change?
Owen Moran concluded, "Because the right partner provides rewarding
opportunities for all involved.  The right partner increases collective
potential.  How can we be so confident of this?  Because we have grown
to realize that we have the perfect partner in house, the employees, our
associates, with whom we have built this company together.

Responding to the ESOP announcement, Aus Marburger, President of
Fire Protection Industries and NFSA Board of Directors Vice Chair said,
"I am ecstatic for all our committed people.  We became increasingly
decentralized under the unique pressures of major retrofit projects.  Our
people stepped up, assumed responsibility and exercised authority.
They focused on client satisfaction and became attentive to occupant
considerations in the conduct of the work.  Additional challenges to the
formidable task of effectively accomplishing the work itself.  They became
true company representatives.  It is gratifying that everyone's efforts are
being rewarded through mutual and shared ownership."

Research has shown that employee-owner companies that promote
employee involvement, outperform their competitors by a substantial
margin.  The Armon companies are excited about their future.