ARLINGTON, VA � January 27 2003: Metal Storm Limited (ASX Code: MST and
NASDAQ ticker symbol: MTSX), announced today that it has signed a teaming
agreement with VISTA Controls, Inc., a Curtiss-Wright company (NYSE: CW,
CW.B), for research, development, construction and demonstration of the
Metal Storm Repeatable Access Denial System (RADS).
Under this agreement, a Metal Storm stacked round RADS system will be
combined with VISTA�s stabilised weapons platform, acquisition sensor,
integrating software and fully integrated user console. Metal Storm and
VISTA will conduct system performance studies and functional capability
assessments of this weapon system to produce a fully integrated RADS
demonstrator.
The RADS system is intended to be used for very close-in defence and can be
utilised against small, lethal, rapidly moving hostile threats, either on
land or at sea. It also incorporates Metal Storm�s new generation firing
system, announced in a release by the company on 23 September 2002, which
substantially reduces the complexity of the ballistic component of the weapon.
Mike O�Dwyer, President and Chief Executive Officer of Metal Storm said,
�This agreement is an excellent example of how our company is now
attracting prominent and highly capable US defence companies to join with
us in advancing our proprietary electronic ballistic technology. VISTA
Controls is a leader in designing and producing world class fire control
sub-systems and related software, as evidenced by their product placement
into key defence programs such as the Abrams main battle tank, the Bradley
fighting vehicle, Global Hawk and the Space Shuttle upgrade program. We
believe that combining our RADS technology, across a range or combination
of calibres, with VISTA�s systems will provide Metal Storm with an enhanced
performance capability. Our goal in 2003 is to demonstrate this fully
integrated weapon system to defence agencies with a view to achieving
production contracts.�
Mr. Darwin Beckel, President of VISTA Controls added, �We are very pleased
to be teamed with Metal Storm in taking the unique capability of their new
and versatile RADS system to the next level of development. Our company
continually looks for new technologies that, when integrated into a network
centric architecture, provide a powerful combination of firepower and
information. We know of many customers that will be pleased to witness the
demonstration we will be offering with the RADS product.�
About Metal Storm
Metal Storm Limited is a research and development company based in
Brisbane, Australia. The company is capturing attention from defence
organisations worldwide with its revolutionary 100% electronic ballistics
technology, which has no known conventional equivalent. Metal Storm
currently has approximately US$50 million in research and development
funding in place to develop its technology from leading government
defence-related agencies in Australia and the United States. Additionally,
the company is well positioned to support the U.S. government's more urgent
homeland defence needs. Recently, the U.S. Department of Defense has
accelerated the programs under development as it strengthens its
counter-terrorism capabilities.
About Curtiss-Wright and VISTA Controls:
Curtiss-Wright: Curtiss-Wright Corporation has a long history with its
roots dating back to the Wright brothers' first flight in 1903. They have
taken their engineering strengths to several markets in which they have
established three business segments: Controls, Flow Control and Metal
Treatment. The Controls business segment designs, engineers and
manufactures actuation components and systems used for leading and trailing
edges wing flaps on commercial and military aircraft; systems for opening
and closing weapons bay doors on fighter aircraft, suspension systems and
turret stabilising and aiming systems for armored vehicles, integrated
mission management and flight control computers, ammunition handling and
fire control systems, and perimeter intrusion detection systems. Through
the recent acquisition of Lau Defense Systems (LDS) and VISTA Controls,
Curtiss-Wright is now a leading provider of "turn-key" mission critical
military electronics systems, providing design, development, documentation,
and support services. In addition to its core business of providing
electronics systems to the U.S. military, Curtiss-Wright also offers
perimeter intrusion detection security systems and has a licensing
agreement for facial recognition products for certain U.S. Government and
industrial markets. www.curtisswright.com
VISTA Controls Corp. (VISTA): VISTA Controls, with operations in Santa
Clarita, Calif., and Littleton, Mass., designs and develops a wide variety
of leading-edge defence electronics systems and board-level items including
SBCs, graphics, high-speed data fabrics, I/O, memory, chassis and security
sensor products. The company specialises in the design and development of
electronics systems, turnkey power control, security networks and
distribution subsystems with emphasis on manufacturing engineering,
configuration and obsolescence management for military programs.
Applications for its products range from mission processors, fire control
and power distribution subsystems for ground vehicles, surface and
subsurface naval platforms, and tactical and strategic fixed- and
rotary-wing aircraft, to low- and high-earth orbit space vehicles and
security sensors for fixed asset platforms.
www.vistacontrols.com
http://www.metalstorm.com/
