SOURCE: Nestor, Inc.

May 05, 2005 06:30 ET

Nestor, Inc. Announces Red Light Camera Award by the City of Saskatoon, Canada

PROVIDENCE, RI -- (MARKET WIRE) -- May 5, 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 the City of Saskatoon, Canada, has selected NTS and its marketing partner, Trafco Canada, for the installation of a Red Light Camera Enforcement and Violation Processing System. According to the May 2, 2005, City Council recommendation, once a contract is negotiated, NTS and Trafco will supply the city with NTS' CrossingGuard® red light enforcement system in an effort to increase safety and reduce red light violations.

Mr. Brian Boyes of the City of Saskatoon was quoted saying, "In response to the RFP issued in January of this year, we received two vendor proposals, one from Redflex Traffic Systems, and a joint proposal from Nestor Traffic Systems and Trafco Canada. After extensive evaluation, the members of our selection committee were unanimous in their recommendation to proceed with Nestor and Trafco on this important safety initiative. Nestor's customer references, understanding of our requirements, and their overall technical capabilities were deemed to be superior to those proposed by Redflex. We look forward to working with Nestor and to improving intersection safety for our citizens."

Nigel P. Hebborn, Executive Vice President of Nestor, Inc., stated, "We are very excited by this recent award; it represents our first award in Canada and our first opportunity to team with Trafco to provide red light enforcement services. Because our system is non-invasive, meaning we don't dig up city streets, we are well positioned to provide the city with a system that can be installed and operated under the extreme cold weather conditions experienced in Saskatoon."

Nestor Traffic Systems 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, and 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.

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 North American distributor for 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