SOURCE: Nestor, Inc.

February 02, 2007 16:14 ET

Grande Prairie, Alberta Signs 5-Year Contract for Automated Red Light Enforcement System

PROVIDENCE, RI -- (MARKET WIRE) -- February 2, 2007 -- Nestor, Inc. (NASDAQ: NEST), the parent of Nestor Traffic Systems, Inc., a leading provider of video-based traffic enforcement solutions, is pleased to announce the City of Grande Prairie, Alberta, Canada has signed a contract with Trafco Canada, Nestor Traffic Systems' Canadian partner, for automated red light enforcement systems and services for 22 approaches at 7 intersections in the City. NTS and Trafco will provide Nestor's full turnkey CrossingGuard® automated red light enforcement system and services at those 22 approaches. CrossingGuard®'s multiple, synchronized cameras provide accurate and dependable violation evidence in over 40 cities in North America.

Nestor Chief Executive Officer William B. Danzell commented, "Grande Prairie is home to just over 40,000 residents and is a major hub in the North Region of Alberta. We plan to help the City best serve its residents and guests by providing a traffic safety program that encourages safe driving behavior."

Gary Roth, Program Manager for the City of Grande Prairie, stated in the notification letter, "The City is committed to this program and is looking forward to a long-term relationship with Trafco, in partnership with Nestor Traffic Systems."

Nestor Traffic Systems provides automated traffic enforcement solutions to state and municipal governments. Nestor Traffic Systems is the exclusive North American distributor for the Vitronic PoliScanSpeed™ scanning LiDAR, capable of tracking multiple vehicles in multiple lanes simultaneously. An industry first, the scanning LiDAR mobile speed enforcement system is an innovative solution for digital speed detection and image recording. The scanning capability of the PoliscanSpeed system minimizes the ambiguity and measuring errors associated with conventional photo speed enforcement systems. Our CrossingGuard® red light enforcement system uses patented multiple, time-synchronized videos to capture comprehensive evidence of red light and speed violations. In addition, CrossingGuard® offers customers a unique Collision Avoidance™ safety feature that can help prevent intersection collisions. CrossingGuard® is a registered trademark of Nestor Traffic Systems, Inc. PoliScanSpeed™ is a trademark of Vitronic. For more information, call (401) 274-5658 or visit

Statements in this press release about future expectations, plans and prospects for Nestor, including statements containing the words "expects," "will," and similar expressions, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. We may not meet the expectations disclosed in our forward-looking statements and investors should not place undue reliance on those statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including: market acceptance of our products, competition, legal and legislative challenges to automated traffic enforcement, and other factors discussed in Risk Factors in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC. Investors are advised to read Nestor's Annual Report, quarterly reports on Form 10-Q and current reports on Form 8-K filed after our most recent annual or quarterly report. The forward-looking statements in this letter represent our current views and we disclaim any obligation to update these forward-looking statements.