Company Files Form 12b-25 Indicating Brief Delay in Filing Form 10-K

DEERFIELD BEACH, Fla. These forward-looking
statements contain projections of Devcon's future results of operations,
financial position or state other forward-looking information. Mr. Prior to joining
Digicel, Mr. Vincent and the Grenadines .

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This
increase in Interest and Other Income resulted from the satisfaction agreement
entered into between the company's Antiguan subsidiaries and the government of
Antigua. The amount of the operating loss improvement is still
under review. This loss is
expected to result primarily from the company 's Materials Division, as well as
increases in Selling, General + Administrative expenses.

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Mr.

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This satisfaction agreement resulted in one of the subsidiaries
receiving $11. Croix and St. Maarten in the Netherlands Antilles, on St. DevMat, an 80-percent-owned joint venture, was
formed in 2003 to build, own and operate fresh water, waste water treatment
and power systems.

PRESS RELEASE Digicel Appoints Colm Delves as New Group CEO

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The company anticipates that the company's Form 10 -K will report an
increase in Interest and Other Income of approximately $11 million. The company is unable to determine at this time the effect, if any,
of the review of information relating to income taxes. Thomas in the
U.

Lucia, St.

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These factors include, but are not
limited to: general economic and business conditions; our business strategy
for expanding our presence in our industry; anticipated trends in our
financial condition and results of operation; the impact of competition and
technology change; existing and future regulations affecting our business, and
other risks and uncertainties discussed under the heading "Risks Related to
our Business" in Devcon 's Form 10-K report for the period ending December 31,
2003 as filed with the Securities and Exchange Commission, and other reports
Devcon files from time to time with the Securities and Exchange Commission . In four years, Digicel has
become renowned for competitive rates, unbeatable coverage, superior
customer care, a wide variety of products and services, and
state-of-the-art handsets.

Visit www.

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5 million credit toward future withholding taxes
incurred by the subsidiary or the company, plus remittance of all taxes and
duties incurred through December 31, 2004 in exchange for the cancellation of
approximately $29 million in debt owed by Antigua to the subsidiaries.

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(Nasdaq: DEVC) today filed a Form 12b-25 notification of late filing of its
annual report on Form 10-K. The Construction
Division dredges harbors, builds marine facilities, constructs golf courses
and prepares residential , commercial and industrial sites, primarily in the
Bahamas and the eastern Caribbean. O'Shaughnessy played a
role in Digicel's initial 2001 launch in Jamaica as Infrastructure
Director, and went on to successfully establish and support Digicel
operations throughout the Eastern Caribbean and Netherlands Antilles
region.

By offering innovative mobile services and community support , Digicel has
become a leading brand in the Caribbean and has placed the region at the
cutting edge of mobile communications.

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, Devcon International Corp. The upgrade of our internal control processes will in no way impede
the consistent delivery of our products and services to our customers," says
Stephen J.

Donal O'Shaughnessy, former CEO of Digicel Aruba, will assume the role of
Digicel Group Chief Operating Officer (COO).com for more information on Digicel.

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The company expects the report to be filed within
the next 15 days. In addition, the company
anticipates that the company's Form 10-K will contain disclosures reflecting
that, during the course of the annual audit of the company 's 2004 financial
statements, the company's independent auditor has identified the existence of
material weaknesses relating to the company having insufficient accounting
disclosure controls and procedures and inadequate controls pertaining to the
company's review and oversight of subsidiary financial results originating in
the company's Construction and Materials Divisions.

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The
new Security Services Division provides electronic security services to
commercial and residential customers in selected markets. Martin
in the French West Indies, on Puerto Rico, and on Antigua in the independent
nation of Antigua and Barbuda.

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Notwithstanding the above improvements, the company also anticipates that
its operating loss for the three months ended December 31, 2004 will exceed
the operating loss for the comparable prior year period by approximately
$2 to 3 million, although this amount is also still under review. The Materials Division produces and
distributes crushed stone, ready -mix concrete and concrete block in the
eastern Caribbean with principal operations on St. "Colm has a proven track record and
expertise that is necessary to continue our vision of offering cutting -edge
telecommunications services to consumers and businesses throughout the
entire Caribbean region .

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Forward-Looking Statement
This press release may contain statements, which are not historical facts
and are considered forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Delves, former Digicel
Group Chief Financial Officer (CFO ), is responsible for continuing
Digicel's expansion of its Pan-Caribbean network including the roll -out of
its recent entry into the Haiti market.digicelgroup.

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Devcon Anticipates Certain Changes in Year End Results

This
transaction was previously reported in the company's filings with the SEC . These weaknesses, in
addition to turnover in senior management of the company, also contributed to
the delay.
"We are currently addressing these issues and have already begun to
implement the appropriate changes and will issue an update on our efforts to
strengthen our internal control processes when we report our first quarter
results. In some cases
you can identify these statements by forward-looking words such as
"anticipate," "believe," "could," estimate," "expect," "intend, " "may,"
"should," "will," and "would" or similar words.

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The reasons for the delay in the filing of the Form 10-K are delays the
company is experiencing in the collection and compilation of certain financial
information required to be included in the Form 10-K, including information
relating to a review of the valuation of certain assets of the company's
Materials Division and information relating to income taxes, both of which
resulted in delays in the audit review process.

"We are very pleased to have Colm in the role of Group CEO," said Denis
O'Brien, Chairman of Digicel .

Digicel is incorporated in Bermuda and operates in nine countries including
Aruba, Barbados , Curaao, The Cayman Islands, Grenada, Haiti, Jamaica, St.

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The company is the lead sponsor of Caribbean sports teams including the
West Indies Cricket Team, Special Olympics teams across the Caribbean and
is title sponsor of the Digicel Caribbean Football Union Cup, which
involves over 30 Caribbean countries and is an important qualifier towards
the CONCACAF Gold Cup.

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Delves joined Digicel in May 2004, and has been instrumental in its
aggressive growth led by strategic finance deals.

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You should not rely on
forward-looking statements because Devcon's actual results may differ
materially from those indicated by these forward-looking statements as a
result of a number of important factors.
Devcon does not intend to and undertakes no duty to update the information
contained in this press release.

ABOUT DIGICEL

Since its launch in 2001, Digicel has become the fastest growing mobile
telecommunications operator in the Caribbean.

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About Devcon
Devcon has three operating divisions and an operating joint venture.
(Click here for details)
Mr.

Includes health and medical resources specific to the region.

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It is the largest GSM mobile
operator in the region and plans to extend its footprint into other
Caribbean countries.

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5 million in cash , a commitment for an additional $937,000 cash,
which has been received, a $7.
In addition , the company anticipates an improvement in its 2004
consolidated operating loss of approximately $5 million principally as a
result of an increase in revenue and corresponding gross margin in its
Construction Division.S. Virgin Islands, on St.
Digicel Group, the fastest growing mobile
telecommunications provider in the Caribbean, today announced it has
appointed Colm Delves as its new Group CEO. Delves provided consultancy services to a number of companies
owned by Denis O'Brien."

Digicel recently reached a milestone of 1,051 employees and expects to
increase staff by 30 percent as it enters new markets and continues to grow
its customer base and offerings.

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Ruzika, president of the company.

He qualified as a chartered accountant with KPMG
Dublin and is a Fellow of the Institute of Chartered Accountants in
Ireland.