BOSTON, June 29, 2006 (PRIMEZONE) -- Technest Holdings, Inc. (OTCBB:TCNH), a defense and homeland security company, announced today that its wholly owned subsidiary, EOIR Technologies, Inc., has opened a new office in Dahlgren, VA, within the U.S. Naval Surface Warfare Center, Dahlgren Division (NSWCDD).
The new on-site facility is designed to strengthen EOIR Technologies' continued support for the Directed Energy Technology Office (DETO) and the Chemical, Biological, Radiological, Nuclear Explosive (CBRNE) Division, both divisions of NSWCDD. The new office also provides expansion opportunities within all other NSWCDD departments and with other local contractors.. EOIR will maintain its existing facility located in Fredericksburg, VA.
"Our strong growth in just under two years with NSWCDD has called for the opening of a new office located on-site in Dahlgren," said David Bonzo, Navy & Marine Corps Technical Services Division Director for EOIR Technologies. "We believe this new, state-of-the-art facility will provide a greater knowledge base and understanding of NSWCDD's special needs as we continue to expand our mutually beneficial relationship. Currently, we have delivery orders from NSWCDD totaling approximately $25 million with just under $15 million fully funded. Our new facility enhances our capabilities in systems integration and engineering services and strengthens our efforts in support of military operations."
The address for EOIR's new Dahlgren office is as follows:
Woodworth Office Building II
5219 Kingswood Lane
King George, VA 22485
EOIR Technologies has been providing innovative sensor engineering products and services to customers within the Department of Defense for nearly 25 years.
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 www.technestholdings.com.
Investors are cautioned that certain statements contained in this press release 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, applicability, benefit and use of our product 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: the functionality of our product; 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. www.sec.gov
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