SOURCE: Metal Storm Limited

October 05, 2006 20:58 ET

Live Firing on Dragonfly Unmanned Aerial Vehicle

ARLINGTON, VA -- (MARKET WIRE) -- October 5, 2006 -- Metal Storm Limited (ASX: MST) (NASDAQ: MTSX) -- Metal Storm is pleased to announce that it has conducted a live firing of its 40mm weapon system installed on a Dragonfly Pictures, Inc. (DPI) DP-5X prototype Vertical Take Off and Landing (VTOL) Unmanned Aerial Vehicle (UAV).

A number of flights and ground demonstrations were performed September 27- 28, 2006, at the Warren Grove Air National Guard Bombing Range in Warren Grove, NJ under a Defense Advanced Projects Research Agency (DARPA) contracted activity.

The flight demonstrations included firing from the hover position at various altitudes as well as forward flight "strafing" runs. The live fires utilized Metal Storm's GE40 40 mm grenade launcher, FC440 remotely operated fire control unit, and MK16-KE 40 mm kinetic energy projectiles. Initial tests were conducted from the DP-5X UAV in strap down mode as well as un-tethered hover sighting shots. Hover shots from various altitudes were followed by a concluding forward speed flight with shots that targeted a vehicle sited on the firing range.

Notes:

Metal Storm's Australian Stock Exchange trading code: MST

Metal Storm's NASDAQ Small Cap ticker symbol: MTSX

About Metal Storm

Metal Storm Limited is a multi-national defense 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, with an office in Arlington, Virginia. Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilizing 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.

About DARPA

The Defense Advanced Research Projects Agency (DARPA) is the central research and development organization for the Department of Defense (DoD). It manages and directs selected basic and applied research and development projects for DoD, and pursues research and technology where risk and payoff are both very high and where success may provide dramatic advances for traditional military roles and missions. www.darpa.mil

About Dragonfly Pictures

DPI was founded in 1992 by Michael W. Piasecki to develop and supply unmanned vertical take-off and landing (VTOL) aerial platforms for photography and time critical IMage INTelligence (IMINT) needs. DPI is under contract to develop a Vertical Take-off and Landing (VTOL) Unmanned Aerial Vehicle (UAV) for the US Government.

Safe Harbor

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
    Jim MacDonald
    Chief Financial Officer
    Metal Storm Limited
    Ph: +61 (0) 7 3221 9733

    USA
    Peter Faulkner
    SVP US Operations
    Metal Storm Inc.
    Ph: +1 703 248 8218