SOURCE: Metal Storm Limited

October 13, 2008 02:40 ET

Metal Storm Exhibits at US Army Expo

BRISBANE, AUSTRALIA--(Marketwire - October 13, 2008) - Metal Storm Limited (ASX: MST) (PINKSHEETS: MTSXY).

Defence technology specialist Metal Storm Limited has successfully exhibited its range of ballistics products and systems at the world's largest military land power forum.

Brisbane-based Metal Storm was on show at the Association of the United States Army (AUSA) Annual Meeting and Exposition in Washington, DC.

The three-day conference and exhibition was attended by more than 10,000 visitors including senior figures from the US defence industry, the US military, the US Department of Defense and Congressional leaders.

Metal Storm was among a diverse range of exhibitors at the leading defence-related exposition in the US, which featured demonstrations of new military technologies as well as a keynote speech from the incoming Commander, US Central Command, General David Petraeus.

Metal Storm CEO, Dr Lee Finniear, said the AUSA conference has proven to be a valuable forum for the Company, which last year exhibited its 3GL three-shot grenade launcher and the FireStorm 4 barrel remote weapon system on the iRobot Warrior UGV.

"This is the third successive year we have exhibited at AUSA and we are pleased with the growing interest in Metal Storm's weapons, which we expect to result in production orders in 2009," Dr Finniear said.

This year, Metal Storm Inc. displayed the FireStorm system, the MAUL 12 gauge shotgun and the 3GL.

In the last 6 months Metal Storm Inc. has won more than AU$1.4 million in new development contracts with the US Navy for its MAUL 12 gauge multi-shot launcher and with the US Marine Corps for the MPM demonstration.

The Company also has an ongoing design support services contract with a major US defence company.

Metal Storm recently exhibited its weapon systems at two other major US events ; the US National Guard Show in Baltimore, MD and the Modern Day Marine Show in Quantico, VA.

The video used at the Metal Storm stand at the AUSA conference can be found on the Metal Storm website at www.metalstorm.com


Notes:

Metal Storm's Australian Stock Exchange trading code: MST

Metal Storm's OTC Symbol: MTSXY

About Metal Storm

Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in Australia. Metal Storm Limited technology and products are represented in the USA by Metal Storm Inc., which has offices in Arlington, Virginia.

Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.

Metal Storm's weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.

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 meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the US, 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.

Contact Information


  • Company Contact:

    Australia
    Dr Lee Finniear
    Chief Executive Officer
    Metal Storm Limited
    Ph: +61 7 3123 4700

    USA
    Mr. Peter D. Faulkner
    General Manager Inc.
    Ph: 703-248-8218