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Metal Storm Exhibits at US Army Expo
(Marketwire Via Acquire Media NewsEdge) BRISBANE, AUSTRALIA, October 13 / MARKET WIRE/ --
Metal Storm Limited (ASX: MST)
(PINKSHEETS: MTSXY).
Defence technology specialist Metal Storm Limited has successfully
exhibited its range of ballistics products and systems at the world's
largest military land power forum.
Brisbane-based Metal Storm was on show at the Association of the United
States Army (AUSA) Annual Meeting and Exposition in Washington, DC.
The three-day conference and exhibition was attended by more than 10,000
visitors including senior figures from the US defence industry, the US
military, the US Department of Defense and Congressional leaders.
Metal Storm was among a diverse range of exhibitors at the leading
defence-related exposition in the US, which featured demonstrations of new
military technologies as well as a keynote speech from the incoming
Commander, US Central Command, General David Petraeus.
Metal Storm CEO, Dr Lee Finniear, said the AUSA conference has proven to
be a valuable forum for the Company, which last year exhibited its 3GL
three-shot grenade launcher and the FireStorm 4 barrel remote weapon system
on the iRobot Warrior UGV.
"This is the third successive year we have exhibited at AUSA and we are
pleased with the growing interest in Metal Storm's weapons, which we expect
to result in production orders in 2009," Dr Finniear said.
This year, Metal Storm Inc. displayed the FireStorm system, the MAUL 12
gauge shotgun and the 3GL.
In the last 6 months Metal Storm Inc. has won more than AU$1.4 million in
new development contracts with the US Navy for its MAUL 12 gauge multi-shot
launcher and with the US Marine Corps for the MPM demonstration.
The Company also has an ongoing design support services contract with a
major US defence company.
Metal Storm recently exhibited its weapon systems at two other major US
events ; the US National Guard Show in Baltimore, MD and the Modern Day
Marine Show in Quantico, VA.
The video used at the Metal Storm stand at the AUSA conference can be
found on the Metal Storm website at www.metalstorm.com
Notes:
Metal Storm's Australian Stock Exchange trading code: MST
Metal Storm's OTC Symbol: MTSXY
About Metal Storm
Metal Storm Limited is a multi-national defence technology company engaged
in the development of electronically initiated ballistics systems using its
unique "stacked projectile" technology. The company is headquartered in
Brisbane, Australia and incorporated in Australia. Metal Storm Limited
technology and products are represented in the USA by Metal Storm Inc.,
which has offices in Arlington, Virginia.
Metal Storm is working with government agencies and departments, as well as
industry, to develop a variety of systems utilising the Metal Storm
non-mechanical, electronically fired stacked ammunition system.
Metal Storm's weapon technology uses computer-controlled electronic
ignition and a system of stacked projectiles, to achieve a completely
non-mechanical gun that is very lightweight and compact, providing a very
high firepower to weight ratio. The Metal Storm weapons system utilizes
multiple barrels mounted together on one platform which allows varying
munitions types to be deployed in a single, low cost, lightweight weapon
system. Firing the weapons by electronic ignition requires no moving
parts, allowing reliable long term unattended weapon operation.
Safe Harbour
Certain statements made herein that use the words "estimate," "project,"
"intend," "expect," "believe" and similar expressions are intended to
identify forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
involve known and unknown risks and uncertainties which could cause the
actual results, performance or achievements of the company to be materially
different from those which may be expressed or implied by such statements,
including, among others, risks or uncertainties associated with the
development of the company's technology, the ability of the company to meet
its financial requirements, the ability of the company to protect its
proprietary technology, potential limitations on the company's technology,
the market for the company's products, government regulation in Australia
and the US, changes in tax and other laws, changes in competition and the
loss of key personnel. For additional information regarding these and
other risks and uncertainties associated with the company's business,
reference is made to the company's reports filed from time to time with the
Securities and Exchange Commission, including the company's Form 20-F.
Company Contact:
Australia
Dr Lee Finniear
Chief Executive Officer
Metal Storm Limited
Ph: +61 7 3123 4700
USA
Mr. Peter D. Faulkner
General Manager Inc.
Ph: 703-248-8218
Copyright ? 2008 Marketwire
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