Metal Storm's High-Rise Fire Fighting System to be Presented at The Halon Options Technical Working Conference 2002.

Business Editors

ARLINGTON, Va.--(BUSINESS WIRE)--April 26, 2002

Metal Storm Limited (NASDAQ Small Cap ticker symbol: MTSX and ASX code: MST), a pioneer of electronic ballistics technology, announced today that John Brooks of Firepak Oil and Gas Industries, Ltd. ("FO&GI") will present a paper entitled "Aerosol Fire Suppression for High-Rise Structural Applications Via Aircraft Distribution Using Metal Storm Technologies" at the Halon Options Technical Working Conference 2002 ("HOTWC") in Albuquerque, New Mexico, USA, April 30 - May 2, 2002.

Metal Storm has been working with FO&GI and Pyrogen Australia Pty Ltd., both of whom have been seeking a rapid delivery system for their halon alternative, Pyrogen aerosol canisters, for fighting fires in high-rise buildings. Halon, a commonly used product in fire fighting, will be phased out by 2003 under the "Montreal Protocol on Substances that Deplete the Ozone Layer". This protocol is regulated through the United Nations Environment Program. Pyrogen aerosol is a widely accepted alternative to halon and has proven to be an effective fire suppression and extinguishing agent.

The conference provides a unique forum for the presentation of halon alternatives in fire suppression, explosion suppression, the inertion of flammable environments, and the protection of assets. The conference also serves as an information exchange within the halon community on current halon use, research and technology.

Michael O'Dwyer, Metal Storm's President and Chief Executive Officer, said, "It is an honor to have Mr. Brooks present Metal Storm's fire fighting solutions at the HOTWC 2002 conference. Currently, the primary method of fire protection in high-rise buildings relies on fixed sprinkler systems. We believe that helicopter-mounted launchers using our 100% electronic, multi-barrel projectile system can deliver Pyrogen aerosols at the very fast rate required to control or overwhelm fires until such time as firefighters can access the site. This method of high-rise fire control could provide the crucial time needed for firefighters to do their job and for people to exit the building safely. By successfully combining these technologies, we believe we can develop a delivery system for environmentally-compliant products that can contribute to saving lives in a safe and timely manner."

Visit www.metalstorm.com

About Metal Storm

Metal Storm Limited is a research and development company based in Brisbane, Australia. The Company is capturing unprecedented attention from defense organizations worldwide with its revolutionary 100% electronic ballistics technology, which has no known conventional equivalent. Metal Storm currently has US$50 million in research and development funding in place to develop its technology from leading defense-related agencies such as the US Defense Advanced Research Projects Agency (DARPA) and the Australian Defence Science and Technology Organisation (DSTO). Additionally, the Company is well positioned to support the U.S. government's more urgent homeland defense needs. Recently, the US Department of Defense (DoD) has accelerated the programs under development as it strengthens its counter-terrorism capabilities.

About Pyrogen Australia Pty Ltd.

Pyrogen Australia Pty Limited based in Sydney, Australia, is a subsidiary of Pyrogen Corporation, an international company marketing and distributing Pyrogen fire suppression products. Pyrogen Corporation has offices in UK, Malaysia and Australia and an extensive network of Product Distributors and Dealers worldwide. The Company's investment in their new technology has resulted in the Pyrogen Fire Suppression System being used extensively on sites worldwide. The Company is conducting ongoing research and development in the fire suppression market and opening new applications for Pyrogen aerosol technology. www.pyrogen.com

About Firepak Oil and Gas

Firepak is the Pyrogen master distributor for the Americas, and is based in Houston, Texas. FO&GI's main focus is providing fire protection and safety related services to the Energy, Marine and Transpiration markets. Through their expanding international distribution network and installer base, they provide new innovative solutions for fire protection. Firepak's work in the fire protection industry has led for a call for an aerosol standards committee to be formed this year be the national Fire Protection Association (NFPA) for a new USA standard. www.pyrogen.com

About HOTWC: see www.bfrl.nist.gov/866/HOTWC/

Safe Harbour

Certain statements made herein that use the words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the Company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the Company's technology, the ability of the Company to protect its proprietary technology, the market for the Company's products, government regulation in Australia and the U.S., changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission, including the Company's Form 20-F.