SCHEDULE 14A INFORMATION

                PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

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                                    HEI, Inc.
                (Name of Registrant as Specified In Its Charter)

                              FANT INDUSTRIES INC.
                   (Name of Person(s) Filing Proxy Statement)

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                              FANT INDUSTRIES INC.
                              2154 Highland Avenue
                            Birmingham, Alabama 35205
                              Phone: (205) 933-1030

For further information contact:

Anthony J. Fant
(205) 933-1030

Richard Grubaugh
Beacon Hill Partners, Inc.

(212) 843-8500

FOR IMMEDIATE RELEASE
- ---------------------

FANT QUESTIONS MOTIVES OF KINNARD ANALYST
- -----------------------------------------

     NEW YORK,  NEW YORK - July 14, 1998 - Anthony J. Fant, who is seeking board
control of HEI, Inc.  (Nasdaq:  HEII),  today  questioned the motives of John G.
Kinnard  analyst,  Clint  Morrison,  who has repeatedly and publicly  criticized
Fant's  tender offer and efforts to gain control of HEI. Mr. Fant  revealed that
in a meeting with  Morrison on March 31, 1998,  Morrison  chastised  him for not
hiring  Morrison's firm as financial  advisor in the tender offer.  Mr. Fant had
instead chosen J.G. Kinnard's cross-town rival, R.J. Steichen & Co.

     "This looks like a case of sour  grapes,"  said Mr. Fant.  "We regret it if
Mr. Morrison has made this a personal issue. But R.J. Steichen appeared to offer
the  services we needed,  and they have in fact done a great job." Mr. Fant said
it was  interesting  to him that when he met with  Morrison to seek his support,
Morrison  "agreed with all of our ideas for  revitalizing  HEI. Mr. Fant said he
hopes that this will be the last word  about all of this.  "We just want to make
sure the facts are known, " he said.

     "Again,  we believe $9.00 per share is a very strong offer.  We are bullish
about HEI's  future under our  leadership,  and we are  absolutely  committed to
completing this tender offer as soon as possible," Mr. Fant concluded.