LRAD Corporation Comments on Announcement by Iroquois

LRAD Corporation Comments on Announcement by Iroquois

No Stockholder Action Required at This Time

SAN DIEGO, Feb. 6, 2013 (GLOBE NEWSWIRE) -- LRAD Corporation (Nasdaq:LRAD),
the world's leading provider of long range acoustic hailing devices (AHDs),
today confirmed receipt of a notice from Iroquois Master Fund Ltd.
("Iroquois"), announcing its intention to nominate a slate of five directors
to stand for election at the Company's 2013 Annual Meeting of Stockholders.

The Company noted that it is committed to creating value for all stockholders.
The newly formed Nominating and Corporate Governance Committee of the
Company's Board of Directors, which is chaired by independent director, Bill
VanDeWeghe, will review and consider the Iroquois nominations, as well as
qualified individuals who may be submitted by other LRAD stockholders to serve
on the Company's Board.

The Company will present its recommendation with regard to the election of
directors in its proxy statement to be filed with the Securities and Exchange
Commission (the "SEC"). The Board will make a recommendation in the best
interests of all stockholders. The date of the Company's 2013 Annual Meeting
of Stockholders has not yet been announced. The Company's stockholders are not
required to take any action with respect to Iroquois' director nominees at
this time.

About LRAD Corporation

LRAD Corporation is using long range communication to resolve uncertain
situations peacefully and save lives on both sides of its proprietary Long
Range Acoustic Device®. LRAD® systems are in service around the world in
diverse applications including fixed and mobile military deployments, maritime
security, critical infrastructure and perimeter security, commercial security,
border and port security, law enforcement and emergency responder
communications, emergency warning and mass notification, asset protection, and
wildlife preservation and control. For more information about the Company and
its LRAD systems, please visit www.lradx.com.

Important Additional Information

This release may be deemed to be solicitation material in respect of a proxy
contest for the election of directors to the Board of Directors of the
Company. The Company will be filing a proxy statement with the SEC.
STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders will be able to
receive the proxy statement and other relevant documents free of charge at the
SEC's website at www.sec.gov, or upon written request to the Secretary of LRAD
Corporation at 16990 Goldentop Road, Ste. A, San Diego, California 92127.

Participants in Solicitation

The Company and its directors and executive officers and other members of
management and employees may be deemed to be participants in the solicitation
of proxies in respect of a proxy contest for the election of directors to the
Board of Directors of the Company. Information concerning these participants
is set forth in the proxy statement, dated January 23, 2012, relating to the
Company's 2012 Annual Meeting of Stockholders as filed with the SEC on
Schedule 14A, and the Company's 2012 Annual Report on Form 10-K/A, as filed
with the SEC on January 22, 2013. Additional information regarding the
interests of participants in the solicitation of proxies in respect of the
2013 Annual Meeting of Stockholders and other relevant materials, including
the Company's proxy statement, will be filed with the SEC when they become
available.

Forward-looking Statements: This release contains forward-looking statements
within the meaning of the Securities Act of 1933 and the Securities Exchange
Act of 1934. We base these statements on particular assumptions that we have
made in light of our industry experience, the stage of product and market
development as well as our perception of historical trends, current market
conditions, current economic data, expected future developments and other
factors that we believe are appropriate under the circumstances. These
statements involve risks and uncertainties that could cause actual results to
differ materially from those suggested in the forward-looking statements.
These risks and uncertainties are identified and discussed in our filings with
the SEC. These forward-looking statements are based on information and
management's expectations as of the date hereof. Future results may differ
materially from our current expectations due to a variety of factors
including, among others, general economic conditions, our dependence on a
limited number of customers, our dependence on continued sales to U.S. and
international governments and businesses that sell to governments, our ability
to obtain financing on favorable terms, or at all, and our ability to expand
our customer base and the acceptance of our products. For more information
regarding other potential risks and uncertainties, see the "Risk Factors"
section of the Company's Form 10-K for the fiscal year ended September 30,
2012. The Company disclaims any intent or obligation to update those
forward-looking statements, except as otherwise specifically stated.

CONTACT: Investor Relations:
         Robert Putnam
         (858) 676-0519
         robert@lradx.com
 
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