BOSTON, April 6, 2006 (PRIMEZONE) -- Technest Holdings, Inc. (OTCBB:TCNH), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today it has retained the investor relations services of KCSA Worldwide, a leading independent and full-service communications firm.
Dr. Joseph Mackin, recently appointed Chief Executive Officer of Technest Holdings, said, "As we continue to expand our business and begin applying our existing technologies to products for 3-D facial recognition and border security, we remain committed to improving Technest's visibility among the investment community following our recent application for a listing on the Nasdaq Capital Market and new corporate governance structure. This is clearly an exciting time for us and we look forward to working with KCSA and implementing a proactive investor relations program. We believe KCSA's strong track record and its financial communications expertise will enhance shareholder value."
Todd Fromer, managing partner of KCSA Worldwide, said, "We are pleased to work with Technest Holdings. The company presents a compelling story based on its advanced technologies for the defense and homeland security markets. Management has expressed a strong commitment to increase awareness among investors and we look forward to providing our integrated approach to investor relations in support of Technest's communications initiatives."
About KCSA Worldwide
KCSA Worldwide is a leading New York-based public and investor relations firm with practice areas in public relations, investor relations, corporate and marketing communications, and design and graphics. KCSA is the U.S. partner of European Communication Partners, a network of public relations firms in EEC countries and Canada, and the U.S. member of IR Asia-Pacific Ltd., the world's first network of independent investor relations consultancies. The firm has strategic alliances in Australia, Israel, Russia and South America.
About Technest Holdings, Inc.
Technest Holdings, Inc. 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. For more information, please visit the company's website at http://www.technestholdings.com/.
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.