BOSTON, Feb. 7, 2006 (PRIMEZONE) -- Technest Holdings, Inc. http://www.technestholdings.com (OTCBB:TCNH), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that it plans to exhibit at the International Society for Optical Engineering (SPIE) Defense and Security Symposium, to be held in Orlando, Florida April 17 - April 21, 2006.
The Defense and Security Symposium (DSS) is the largest unclassified symposium related to sensors and sensor networks held in the United States. It is the fastest growing event of its kind in the world. SPIE is a not-for-profit international society dedicated to advancing optics and photonics.
The Defense and Security Symposium is designed to bring together scientists and engineers who are developing and using electro-optical, digital, and microwave technologies for sensor-related defense and security applications. Events like the symposium are beneficial to both scientists and engineers alike as it provides an open avenue for the discussion of commercial applications for various technologies, as well as, helping members of the scientific and technical community to remain on the cutting edge of their professions. The yearly symposiums consist of technical conferences, educational programs, and exhibitions.
Dr. Joe Mackin, President of Technest Holdings said, "We are committed to remaining at the leading edge of technology and this symposium will give us the opportunity to learn and share ideas with our peers. As an added benefit, this symposium will allow participants to gain a greater understanding of the overall scope of products and services Technest has to offer."
Technest plans to display a variety of products at this event, including:
-- AACES - a standoff chemical and explosives detection system
employing hyperspectral Fourier Transform Infrared (FTIR)
technology, developed under the SBIR program
-- STUDS - a low-cost, wirelessly networked optical sensor system
designed for urban combat and perimeter defense applications.
STUDS is a Phase II SBIR program.
-- Next Generation 3D Camera System pushing the state-of-the-art
in three-dimensional imaging tomography.
Technest will be located at Booth 1319.
Technest Holdings had fiscal first quarter ended September 30, 2005 sales revenues of $19M and as of December 31, 2005 Technest Holdings Inc. had funded backlog of $51.4M.
About Technest Holdings, Inc.
Technest Holdings, Inc. (OTCBB:TCNH) is a provider of: advanced remote sensor systems, chemical detectors, intelligent surveillance and advanced 3D imaging technology solutions to the defense and homeland security marketplaces. Technest is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. Technest's solutions support military, law enforcement and homeland security personnel. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields.
"Forward-Looking Statements"
Investors are cautioned that certain statements contained in this press release as well as some statements in periodic press releases and some oral statements of Technest Holdings Inc. officers and directors during presentations about Technest Holdings , are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates," "intends,' "plans," "believes," "estimates," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Technest Holdings, its products, economic and market factors and the industries in which Technest Holdings does business, among other things. These statements are not guarantees of future performance and Technest Holdings has no specific intention to update these statements. More detailed information about those factors is contained in Technest Holdings filings with the Securities and Exchange Commission. http://www.sec.gov/
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