Force Protection, Inc. Wins $16 Million Contract For Iraq-Bound Armored Vehicles; Demand for Cougar Troop Carriers Continues to Increase As Second Delivery Order Received.LADSON, S.C. -- Force Protection, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FRPT FRPT Force Protection, Inc. (stock symbol) ) announced today a delivery order for 17 additional mine-protected Cougar cougar: see puma. cougar or puma or mountain lion or panther Species (Puma concolor) of large, graceful cat that lives in a wide variety of habitats in the Americas, from southern Alaska to Patagonia. Joint Explosive Ordnance Disposal The detection, identification, on-site evaluation, rendering safe, recovery, and final disposal of unexploded explosive ordnance. It may also include explosive ordnance which has become hazardous by damage or deterioration. Also called EOD. (EOD EOD abbreviation for every other day; used in medical records. ) Rapid Response Vehicles to be used in Iraq and Afghanistan at an amount not to exceed $16.5 million. This marks the second such order within the past week made under a joint contract awarded by the Department of Defense for approximately 120 Cougar vehicles, bringing the total number of vehicles ordered to 88 for an amount not to exceed $62.2 million. The order, which is funded by the Joint Improvised Explosive Device Noun 1. improvised explosive device - an explosive device that is improvised I.E.D., IED explosive device - device that bursts with sudden violence from internal energy (IED Noun 1. IED - an explosive device that is improvised I.E.D., improvised explosive device explosive device - device that bursts with sudden violence from internal energy ) Defeat Task Force, marks the first time that all military services will receive the armored vehicle. The Cougar has been deployed with the Marines in Iraq since last fall. Under the contract, Force Protection will manufacture the vehicles and provide training, spare part blocks, and technical data. The first vehicles are expected to reach the field by early fall 2005. "The increasing demand for our vehicles is great news for our deployed servicemen and women who need this protection against IEDs, land mines and roadside ambushes," said Force Protection CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Gordon McGilton. "The need for this solution could not be more pressing and is reflected in this additional funding and new order." The Cougar H series is a family of medium-sized blast-protected vehicles and is produced in both 4 and 6 wheel layouts. It can be customized for multiple tasks including troop transport, mine and explosive ordnance disposal, command and control, reconnaissance and as a lead convoy vehicle. About Force Protection, Inc. Force Protection, Inc. manufactures ballistic and mine protected vehicles through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured near Charleston, S.C. For more information, visit http://www.forceprotectioninc.com. This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the strategic plan 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, except as required by law. |
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