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IN THE NEWSForce Protection Receives $490 Million MRAP Contract From U.S. Marine CorpsPublisher: Force Protection, Inc.Date: 04/24/2007 LADSON, S.C.--Force Protection, Inc. (NASDAQ:FRPT) today announced it has received a $490 million contract award to produce 1,000 vehicles for the U.S. Marine Corps’ Mine Resistant Ambush Protected (MRAP) vehicle program. This latest delivery order calls for 300 Category I Cougar 4X4 and 700 Category II Cougar 6X6 vehicles. Manufacturing will be performed in Ladson, South Carolina; Charlotte, Michigan; Kings Point, North Carolina; Sealy, Texas and by General Dynamics Land Systems in Lima, Ohio. “This order represents the single largest mine-resistant vehicle contract ever awarded,” said Force Protection COO Raymond Pollard. “We are pleased to note that among several competitors, and on Capitol Hill, Force Protection’s Cougar and Force Dynamics’ accelerated delivery schedule are recognized as the necessary combination to produce vehicles that will immediately support ground missions and save lives.” General Dynamics Land Systems shares in the production and program management of the contact under its joint venture agreement with Force Protection. The Marines have estimated total MRAP vehicle requirements to be in excess of 7,700 vehicles, worth an approximate $8.4 billion. Force Protection’s Cougar and Buffalo vehicles have withstood more than 2,000 IED and mine attacks since 2003, and have an unmatched record for troop safety in Iraq and Afghanistan. About Force Protection Force Protection manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C. For more information on Force Protection and its vehicles, go to www.forceprotection.net. About General Dynamics General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), designs, manufactures and supports land and amphibious combat systems for the U.S. Army, U.S. Marine Corps, and allied nations. Headquartered in Falls Church, Va., General Dynamics employs approximately 81,100 people worldwide and expects 2006 revenue of approximately $24 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation. More information on General Dynamics can be found online at www.generaldynamics.com. This release contains forward-looking statements, including, without limitation, statements concerning the businesses, future plans and objectives and the performance of their products. These forward-looking statements involve certain risks and uncertainties which ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the strategic plan outlined above. The companies caution that these forward looking statements are further qualified by other factors including, but not limited to, those set forth in the companies’ Forms 10-K or 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The companies undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law. Back |
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