SOURCE: Nestor, Inc.

April 29, 2005 12:45 ET

Nestor, Inc. Announces Pilot Program for Speed Enforcement in Cranston, Rhode Island

PROVIDENCE, RI -- (MARKET WIRE) -- April 29, 2005 -- Nestor, Inc. (OTC BB: NESO), the parent of Nestor Traffic Systems, Inc. (NTS), a leading provider of video-based monitoring systems for traffic safety, is pleased to announce that NTS has entered into a pilot program with the City of Cranston, Rhode Island.

Under the agreement, NTS will provide the City with one mobile speed enforcement unit and send warnings to drivers caught speeding. Upon the enactment of pending Rhode Island legislation permitting municipalities to use automated traffic enforcement and approval of the City's Board of Contract and Purchase, the pilot program becomes an enforcement program in which NTS will provide the City with up to five mobile speed enforcement units.

Stephen Laffey, the Mayor of Cranston, said, "We are leading the nation in a traffic safety effort. There are too many speeders and too many lives needlessly being placed at risk in our City. With Nestor's technology solution, we can dramatically improve traffic safety. There will be fewer traffic violations and greater safety because of the foresight to implement this innovative program. I want Cranston to be the safest city to drive in. This adds to the overall quality of life in our community."

William B. Danzell, the Chairman and CEO of Nestor stated, "The City of Cranston is pioneering the automated enforcement of traffic laws. As a Rhode Island company we are excited to provide Rhode Islanders with the traffic safety benefits generated by our leading edge technology. We greatly appreciate the City of Cranston's interest in providing its citizens with safer roads."

Nestor Traffic Systems (NTS) provides automated traffic safety solutions to state and municipal governments. Our goal is to deliver effective solutions for intersection and roadway safety. We currently offer CrossingGuard®, a turnkey solution which helps customers reduce red light running and intersection collisions through automated enforcement, PoliscanSpeed, a laser-based photo speed enforcement system designed to reduce the number of speeding vehicles on public roadways, including school zones and construction zones, and CG Speed, a fixed-site, multi-sensor, video-based speed enforcement system.

Our patented CrossingGuard® system uses multiple, time-synchronized videos to capture comprehensive evidence of red light violations. CrossingGuard is the only available system that delivers synchronized front and rear videos, providing officials with the full context of each violation, enabling accurate, objective decisions. Additionally, CrossingGuard offers customers a unique Collision Avoidance™ safety feature that can help prevent intersection collisions. Our CrossingGuard services include: intersection evaluation, equipment installation, user training and support, citation issuance and payment processing, and account management.

We are the exclusive U.S. distributor and integrator of Vitronic's PoliscanSpeed, the industry's only 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.

CrossingGuard® is a registered trademark of Nestor Traffic Systems, Inc. PoliscanSpeed is a registered trademark of Vitronic. For more information, call (401) 434-5522 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: market acceptance of our products, competition, patent protection of our technology, and other factors discussed in Exhibit 99.1 to our most recent annual report filed with the SEC. 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:

    Nigel P. Hebborn,
    Executive Vice President
    (401) 434-5522 ext. 714
    www.nestor.com