SOURCE: QRSciences

September 08, 2005 15:31 ET

Former Head of L-3 Security and Detection Systems Joins QRSciences Board

PERTH, WESTERN AUSTRALIA -- (MARKET WIRE) -- September 8, 2005 -- QRSciences (ASX: QRS) (OTC: QRSHY), a developer and OEM supplier of advanced technology solutions and leader in the development of Quadrupole Resonance (QR) applications for explosive detection, today announced the appointment of U.S. security systems expert, Joseph S. Paresi, as a non-executive Director.

Mr. Paresi, most recently President of L3 Security & Detection Systems, a leading supplier of X-ray security screening systems and metal detectors, was Corporate Vice President of Product Development for L-3 Communications Corporation from 1997 to 2005. Mr. Paresi was responsible for developing several advanced airport security systems, including the eXaminer 3DX 6000, which is used in more than 600 airports and secure facilities throughout the United States and worldwide. In addition to the eXaminer product range, Mr. Paresi had responsibility for 18,000 systems that L-3 has deployed globally. Under the leadership and stewardship of Mr. Paresi, L-3's Security business grew from zero to $400 million dollars over a five-year period.

Mr. Paresi holds advanced degrees in Electrical Engineering and Finance and is a graduate of the US Army Defense Systems Management School. From 1996-1997, he worked for Lockheed Martin Corporation as the Director of Technology in the US$8B Command, Control, Communications, Computer, Intelligence, Surveillance, and Reconnaissance (C4ISR) sector. From 1978-1995, Mr. Paresi was the Director of Technology for US$6B Loral Corporation where he held positions in Program Management, Business Development and Design Engineering.

Kevin Russeth, Chief Executive Officer of QRSciences said Mr. Paresi's appointment adds strength to the company's Board in the United States giving it another respected non-executive voice with agencies, regulators, and politicians on Capitol Hill and with global security networks around in the world.

"Mr. Paresi has a unique understanding of the security technologies marketplace in general and in particular the commercialization of Explosive Detection Systems technologies. He also maintains close contact with the U.S. Department of Homeland Security, U.S. Department of Defense, Transportation Security Administration and other key players in the global airport community."

Mr. Paresi is a founding Partner in Stamford, Connecticut-based L-1 Investment Partners, focused on the Biometric Security sector and is also President and Chief Operating Officer of Core Software Technology, a middleware company supplying solutions to the U.S. Air Force, U.S. Army and National Geospatial Agency.

He resides in the greater New York area and works out of Stamford, Connecticut.

About QRSciences:

QRSciences Holdings Limited is based in Perth, Western Australia, with a wholly owned subsidiary QRSciences Corporation based in San Diego, California. The Company is a developer and OEM supplier of advanced technology solutions. The Company is a world leader in the field of Quadrupole Resonance (QR), a next generation technology that uses radio frequency spectroscopy techniques to detect and positively identify a wide range of materials. The company develops, designs and sells systems, sub-systems, components and software for commercial and security-related applications which include explosive and narcotic detection, pharmaceutical quality control and assurance, mineral and material assay, metal detection and imaging, and lab instrumentation.

For more information about QRSciences please visit: http://www.qrsciences.com

Contact Information

  • Contacts:

    Jennifer Zimmons
    Strategic Growth
    New York, N.Y.
    Tel: +1(212)838-1444

    Warrick Hazeldine
    Purple Communications
    Perth, Australia
    Tel: + 61 (0) 8 9485 1254

    Kevin Russeth
    QRSciences
    San Diego, CA
    Tel: +1(858)345-1095
    Mob: +61 (0) 417 944 616