SOURCE: Nestor, Inc.

February 13, 2006 14:57 ET

Los Angeles to Break Ground for Nestor Traffic Systems Automated Red Light Enforcement System

PROVIDENCE, RI -- (MARKET WIRE) -- February 13, 2006 -- Nestor, Inc. (NASDAQ: NEST), the parent company of Nestor Traffic Systems, Inc., a leading provider of advanced traffic enforcement solutions, is pleased to announce that the City of Los Angeles is scheduled to begin installing Nestor Traffic Systems' CrossingGuard® automated red light enforcement systems this week. Last week, Chief of Police William J. Bratton signed the City's contract with Nestor Traffic Systems for the installation of up to 64 CrossingGuard approaches. Nestor's video-based red light enforcement systems will replace existing 35 mm wet-film camera systems and expand the City's enforcement program. The City will install Nestor's equipment at intersections that have demonstrated the highest incidence of red light violations and traffic collisions. Nestor will provide ongoing back office processing and support services during the three-year term. Nestor Traffic Systems was selected by the Los Angeles Police Department in November 2004 and approved by the Los Angeles City Council in November 2005.

Bill Danzell, Nestor's CEO, stated, "It is a great opportunity to deploy our system in the 2nd largest city in the United States."

The effectiveness of automated enforcement systems was addressed recently by The Insurance Institute for Highway Safety. Performing a review of red light camera studies around the world, including several by the Institute, the Insurance Institute concluded that cameras reduce red light violations by 40-50 percent and reduce injury crashes by 25-30 percent.

Nestor Traffic Systems has installed its non-invasive CrossingGuard system to over 35 cities in North America. For more information, call (410) 274-5658 or visit www.nestor.com.

Statements in this press release about future expectations, plans and prospects for Nestor, including statements containing the words "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. We may not achieve the plans, intentions or expectations disclosed in our forward-looking statements and investors should not place undue reliance on our forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including: the accounting issues addressed in our Current Report on Form 8-K filed with the SEC on December 5, 2005, market acceptance of our products, competition, patent protection of our technology, and other factors discussed in Risk Factors That May Affect Our Results in our most recent Quarterly Report on Form 10-Q filed with the SEC. Investors are advised to read Nestor's Annual Report on Form 10-K, 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 included in this press release represent our current views and we specifically disclaim any obligation to update these forward-looking statements in the future.

Contact Information

  • CONTACT:
    William Danzell
    Chief Executive Officer
    (401) 274-5658 ext. 777
    www.nestor.com