VANCOUVER, British Columbia, Canada, Feb. 5, 2003 (PRIMEZONE) -- Pyng Technologies Corp. (TSX Venture Exchange:PYT) (OTCBB:PYNGF) is pleased to announce that wholly owned subsidiary Pyng Medical Corp. has booked record orders for the F.A.S.T. 1 System in the month of January 2003.
We received confirmed booked orders for the F.A.S.T. 1 System for Adult Intraosseous Infusion that exceeded $211,000.00 in January. This is the strongest month ever for sales of the F.A.S.T. 1 System. These sales compare favorably with those in December which were $138,595.00.
Particular strength has been seen in the military markets, however strong orders are being received from all our distributors in the civilian emergency medical market place.
These sales do not include those associated with what we expect from our latest news release which announced the US Army notification that they have authorized the inclusion of the F.A.S.T. 1 System for Adult Intraosseous Infusion into The Combat Medic Kits, The Ground Ambulance Kits, and The Field Hospital Kits. Pyng Medical Corp. anticipates that their order book will continue to grow as they move forward in both the civilian and military emergency markets.
Pyng Medical Corp. is the developer of the F.A.S.T. 1 System which, allows emergency medical personnel to gain vascular access utilizing the sternum in a safe, assured, rapid, and reliable manner within 60 seconds with a very high success rate.
For further information, please contact Michael W. Jacobs or visit our web site at www.pyng.com or call 604-303-7964 or 1-800-349-7964 or fax 604-303-7987.
On behalf of the Board,
Michael W. Jacobs, President, Pyng Technologies Corp.
The Toronto Venture Exchange has neither reviewed nor approved of the contents of this news release. Safe Harbor Statement: This release may contain certain forward-looking statements including without limitation, projections, assumptions, expectations, product development objectives, commercial introduction, and potential advantages of the F.A.S.T. 1 System. Actual events or results may differ from the Company's expectations as a result of risk factors discussed in Pyng Technologies Corp. reports on file with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's report on Form 20F for the year ended September 30, 2001.