CHARLESTON, S.C., April 23, 2004 (PRIMEZONE) -- Force Protection, Inc. (OTCBB:FRCP) announced today that its subsidiary Technical Solutions Group (TSG) has been awarded a contract to manufacture and deliver up to 27 Typhoon mine and ballistic protected vehicles. The 27 vehicles, training programs and consumable spare parts have a total value of $9.7 million. Initial deliveries are scheduled to begin in September 2004 and all of the initial release will be delivered before the end of the year.
"We at TSG are honored to work with this customer, for whom we have the utmost respect," says Michael Watts, CEO of Force Protection, Inc. "We're proud to know that our vehicles will help them accomplish their mission."
U.S. Representative Henry Brown, who represents the First District of South Carolina where TSG is located, stated, "I am very proud of TSG and all of their employees for receiving this critically important contract. These mine and ballistic protected vehicles will go a long way toward protecting all of the brave men and women in uniform who are in harm's way in Iraq and other parts of the world as we continue the global war on terrorism. And back home, I am very thankful that this procurement will provide significant new jobs and a boost for the local economy. Since these vehicles perform such a valuable service, I am hopeful that we can expect further contracts in the future."
The Typhoon is a versatile 4 x 2, 4 x 4 or 6 x 6 multi-purpose vehicle that can be configured to satisfy a wide variety of mission requirements. The monocoque capsule is designed to protect personnel, the engine and transmission from both ballistic and mine blast threats. The capsule is mated with the latest in American commercial automotive technology to produce the most user-friendly and adaptable vehicle in its class. The Typhoon can be configured to serve as a mine protected troop transport vehicle, a weapons platform, a law enforcement special response vehicle or an Explosive Ordinance Disposal (EOD)/Range clearance vehicle.
TSG produces a variety of mission-specific vehicles designed to protect property and save lives by removing landmines and transporting personnel through areas that contain landmines. Its vehicles provide superior blast protection, visibility, load carrying capacity, interior space and parts availability. It owns the world's most advanced mine and ballistic protection technology.
TSG produces, among other vehicles, the Buffalo, the most advanced mine resistant vehicle in the world, with multiple mission configurations and specifically designed field reparability. The Buffalo was recently featured on Fox News. A DVD of this segment is available from the Company's Investor Relations Department. Technical Solutions Group has also been highlighted on CNBC's Business Center. A video clip of the segment is available at: http://www.forceprotectioninc.com.
About Force Protection, Inc.
Force Protection, Inc. manufactures and distributes vehicles that protect and save lives and property. Its subsidiary, Technical Solutions Group, Inc., (TSG) manufactures and markets military vehicles that are protected against landmines, hostile fire, and Improvised Explosive Devices ("Roadside bombs"). The vehicles are manufactured outside Charleston, S.C. For more information visit http://www.forceprotection.net.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.