SOURCE: World Surveillance Group

World Surveillance Group

November 15, 2012 09:15 ET

World Surveillance Group Enters Into Teaming Agreement With United States Defense Prime Contractors

Teaming Agreement Focused on Procurement for WSGI Blimp in a Box™ Tactical Aerostat System

KENNEDY SPACE CENTER, FL--(Marketwire - Nov 15, 2012) - World Surveillance Group Inc. (OTCQB: WSGI), a developer of lighter-than-air unmanned aerial vehicles ("UAVs") and related technologies, today announced that it has entered into a teaming agreement with U.S. prime defense contractors Command Post Technologies, Inc. ("CPT") and EWA Government Systems, Inc. ("EWA"). The teaming agreement provides for the companies to develop, test, manufacture, market, sell and support a variety of WSGI's UAVS and aerostats, including its Blimp in a Box, for intelligence, surveillance and reconnaissance, detection of improvised explosive devices, and other applications. 

Under the agreement, CPT will use existing contract vehicles to establish relationships with government customers for the purposes of procuring contracts for WSGI's UAVs and aerostats. The teaming agreement has a one-year term but may be extended by mutual agreement of the parties.

WSGI Chairman of the Board, Anthony Bocchichio, stated, "Aligning ourselves with leading players in the defense and homeland security industry is a key component for our success. We believe these new relationships will strengthen our ability to procure orders from, and develop products and services to fulfill mission critical requirements for, various U.S. government agencies."

About World Surveillance Group Inc.

World Surveillance Group Inc. (OTCQB: WSGI) designs, develops, markets and sells autonomous, lighter-than-air UAVs capable of carrying payloads that provide persistent security and/or wireless communications solutions at low, mid, and high altitudes. WSGI's airships, when integrated with electronics systems and other high technology payloads, are designed for use by government-related and commercial entities that require real-time intelligence, surveillance and reconnaissance or communications support for military, homeland defense, border control, drug interdiction, natural disaster relief and maritime missions. For more information regarding WSGI, please visit www.wsgi.com, or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov.

About Command Post Technologies, Inc.

Command Post Technologies, Inc. (CPT) is a Service Disabled Veteran Owned Small Business headquartered in Suffolk, VA with operations in El Paso, TX, San Antonio, TX, Playas, NM and Washington, DC. CPT specializes in designing, coordinating and executing culturally specific, scenario based, immersive training and operational testing. CPT focuses on C4ISR, Cyber Warfare, and Counter-IED in support of the Department of Defense's conventional and special operations forces, law enforcement and the Intelligence Community. CPT brings the operational threat environment to life in its testing and training scenarios through detailed planning and coordination with clients on their specific requirements. Additional information regarding CPT can be found at http://www.commandposttech.com.

About EWA Government Systems, Inc.

EWA Government Systems, Inc. (EWA GSI), headquartered in Herndon VA, specializes in the full spectrum of electronic warfare (EW) including analysis, simulation and training, RF threat simulators, signal analysis software, embedded training hardware or software, and EW weapon systems. EWA GSI also provides engineering products and services to government and commercial markets in cyber defense, intelligence, security, training, tactical mission planning, information operations, radar development, force protection, and counter-unmanned air systems. They provide strategic functional support tools to the intelligence community for information acquisition, analysis and distribution; and deal in special operations and low intensity conflict both internationally and in support of homeland defense, including a suite of tagging, tracking, intercepting, and locating tools. For more information, please visit their website at www.ewa-gsi.com.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements. These statements include those regarding the effect of the teaming agreement on our relationships, ability to procure government contracts, or develop products that fulfill customer requirements, the expected payloads or systems to be carried on the Company's products, the suitability of the Company's products for any particular application, the ability of the Company's products to satisfy customer demands or requirements or meet any specific challenges, the further advancement, development or commercialization of the Company's products, the ability of the Company to secure business with new customers or grow revenues, the requirements for the Company's success, and the ability of the Company to execute on its strategies or to accomplish any of its goals or objectives. The words "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.