IRVINE--- Meade Instruments Contracts with Leading Asian Outsource Manufacturing Firm

Meade Instruments Corp. (Nasdaq NM: MEAD) today reported that it has contracted with ThreeSixty Sourcing Ltd., a leading outsourcing manufacturing firm, to assist the company in managing certain aspects of its overseas manufacturing operations.

Under the terms and conditions of the agreement, ThreeSixty will provide exclusive services to the Company for certain product lines and distribution channels, including assisting the Company with virtually all aspects of its sourcing in China. Services will include identification and management of Chinese suppliers, quality control and assurance support, logistics services, business development support, and administrative services.

ThreeSixty Sourcing is one of the leading global sourcing firms that specializes in outsourcing supply chain sourcing services specifically for consumer and commercial hard goods companies. ThreeSixty’s unique leveraged sourcing, dedicated account team and information systems capabilities consistently provide access to an Asian supplier base that delivers superior product costs at specified quality and service levels.

Steven Muellner, president and CEO of Meade Instruments, said: “Our agreement with ThreeSixty is another step in our strategic plan to increase and improve our overseas manufacturing capabilities. As a leading outsource manufacturing firm specializing in Asian sourcing, ThreeSixty will add significant expertise and resources as we continue to ramp up our overseas production efforts to address issues related to achieving consistent production quantities and to satisfy the continuing demand for our products. Our diligence prior to entering into the ThreeSixty contract suggests, we believe, the potential for significant cost reduction in our imported products and the potential for improved gross margins.”

The Company also stated that its annual and quarterly financial statement reporting requirements under its credit agreement were extended by its bank to November 30, 2006.

“We are pleased with our banking relationships both here and abroad,” continued Muellner. “This has been a good year in that we have been able to significantly lower our inventories as compared to this time of year in prior years, which has helped us to reduce our bank borrowings and maintain sufficient liquidity to run our business.”

About Meade Instruments

Meade Instruments is a leading designer and manufacturer of optical products including telescopes and accessories for the beginning to serious amateur astronomer. Meade offers a complete line of binoculars that address the needs of everyone from the casual observer to the serious sporting or birding observer. Meade also offers a complete line of riflescopes under the Simmons, Weaver and Redfield brand names. The Company distributes its products worldwide through a network of specialty retailers, mass merchandisers and domestic and foreign distributors. Additional information on Meade is available at www.meade.com.