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IN THE NEWSCongress Receives Notification of Pending UK Contract for Force Protection's Cougar VehiclesPublisher: Force Protection, Inc.Date: 04/10/2008 Ladson, SC (April 10, 2008) -- Force Protection, Inc. (NASDAQ: FRPT) today announced that the Defense Security Cooperation Agency (DSCA) has notified Congress of a pending Foreign Military Sale to the United Kingdom for 157 of the company’s Cougar Category I Mine Resistant Ambush Protected (MRAP) vehicles and associated equipment and services. The total value of the contract, if all options are exercised, will be approximately $125 million. This pending sale is not subject to the terms of Force Protection’s joint venture. “We are pleased to note the continued interest of the British armed forces in our proven blast protection technology,” said Damon Walsh, Force Protection Executive Vice President for Customer Relations. “We will continue to work closely with the U.S. Marine Corps to put the necessary agreements in place that will facilitate a speedy contract award.” 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, including statements relating to the Company’s ability to diversify its business, the Company’s ability to improve its performance, and the change of the culture of the Company. 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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