Force Protection Receives $24 Million Award for 30 Cougar Vehicles

Publisher: Force Protection, Inc.
Date: 05/04/2010

Force Protection, Inc. (NASDAQ: FRPT), a leading designer, developer and manufacturer of survivability solutions and provider of total life cycle support for those products, today announced it has received contract M67854-10-C-5133 from United States Marine Corps Systems Command (MARCORSYSCOM) for approximately $24 million for 30 Cougar Category I Mine Resistant Ambush Protected (MRAP) vehicles including Field Service support. The contract is a Foreign Military Sale (FMS) for coalition forces in support of U.S. forces and is subject to definitization. The work will be performed in Ladson, SC and is expected to be completed prior to April 29, 2011.
Randy Hutcherson, Chief Operating Officer for Force Protection, commented, “We are pleased to receive this new order for these 30 Cougar vehicles. The battle proven Cougar has been the workhorse not only for the U.S. Marine Corps but allied forces around the globe such as the United Kingdom and Canada. We stand ready to deliver and support these vehicles wherever they are deployed around the world. ”
About Force Protection, Inc.

Force Protection, Inc. is a leading designer, developer and manufacturer of survivability solutions, including blast- and ballistic-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. The Company’s specialty vehicles, including the Buffalo, Cougar and related variants, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company also develops, manufactures, tests, delivers and supports products and services aimed at further enhancing the survivability of users against additional threats. In addition, the Company provides long-term life cycle support services of its vehicles that involve development of technical data packages, supply of spares, field and depot maintenance activities, assignment of highly-skilled field service representatives, and advanced on and off-road driver and maintenance training programs. For more information on Force Protection and its products and services, visit www.forceprotection.net.

Safe Harbor Statement

This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection’s management, and on information currently available to management. These forward looking statements include, among other things: the growth and demand for Force Protection’s vehicles, including the Cougar vehicle; the rate at which the Company will be able to produce these vehicles; its expected delivery commencement and work completion dates for the vehicles and the ability to meet current and future requirements, including the demand for support services; the Company’s execution of its business strategy and strategic transformation, including its opportunities to grow the business; and the Company’s expected financial and operating results, including its revenues, cash flow and gross margins, for future periods. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, ability to effectively manage the risks in the Company’s business; the ability to develop new technologies and products and the acceptance of these technologies and products; and the other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009.