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IN THE NEWSForce Protection Announces New Foreign Orders for Cougar MastiffPublisher: Force Protection, Inc.Date: 02/22/2008 Ladson, SC – Force Protection, Inc. (NASDAQ:FRPT) today announced that it has received an order for an additional 174 Cougar Mastiff vehicles, vehicle spare parts, and field support for the UK Ministry of Defense. Under the contract, valued at approximately $115 million, vehicle production will be performed exclusively by Force Protection at its Ladson, SC facility and is scheduled for completion by December 2008, with spare parts and field support coverage continuing through mid 2009. Force Protection Chairman and Interim CEO Michael Moody, commented, “We are proud of and grateful for our strong relationship with the UK Ministry of Defense. A successful sales effort to foreign military customers is an important part of our long-term strategy to fully leverage our position as the innovator and leading supplier of tactical wheeled vehicles and blast and ballistic survivability solutions, while ensuring a solid return on our investments in manufacturing capability. We believe that this order reflects a wide and growing recognition of the high level of quality and capabilities inherent in our vehicle designs, which offer the best available protection for soldiers in the field.” The Company noted that its successful program of capacity expansion and operational capability improvement enables it to now serve both the continuing needs of the U.S. military for these vehicles as well as to provide these much-needed products to foreign military customers. About Force Protection, Inc. Force Protection, Inc. is a leading American designer, developer and manufacturer of life saving survivability equipment, predominantly ballistic- and blast-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, the Cougar and the Buffalo, and the Cheetah, are designed specifically for reconnaissance, forward command and control, 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 is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information on Force Protection and its vehicles, visit www.forceprotection.net. Safe Harbor Language This press release contains forward-looking statements that involve risks and uncertainties. The Company generally uses words such as “believe,” “may,” “could,” “will,” “intend,” “expect,” “anticipate,” “plan,” and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the Company’s Form 10-K and other reports filed with the Securities and Exchange Commission. Although management believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and the Company’s future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in expectations, except as required by law. Back |
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