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Technology Stocks : EUO - Eurotech Ltd.

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To: jmhollen who started this subject1/24/2002 12:51:48 PM
From: PL Wilson   of 28
 
Thursday January 24, 12:41 pm Eastern Time
Press Release
SOURCE: EUROTECH, Ltd.
EUROTECH, Ltd. Announces New Explosives Screening Portal Product Development to Enhance Security
FAIRFAX, Va.--(BUSINESS WIRE)--Jan. 24, 2002--EUROTECH, Ltd., (AMEX:EUO - news), reported that development of an explosives screening portal product based on its proprietary Acoustic Core(TM) technology is currently in progress.

The new screening portal is intended to combine the functions of metal detection and explosives detection into a single product. The device is expected to look and function very similarly to existing airport metal detector portals commonly used throughout the world, but it will have the added capability of screening for explosives.

The product will be designed to work at the same rate of speed of existing metal detectors allowing free flow of passenger traffic.

The Company is currently in various stages of discussion with established security industry companies regarding Acoustic Core(TM) technology as part of an overall strategy to achieve market penetration through strategic alliances.

The screening device will provide computerized automatic screening of humans, their clothing and footwear, for metal and explosive devices. The technology is ideally suited for primary screening applications where humans require screening and high rates of traffic require automated computer controlled detection.

The portal's proprietary Acoustic Core(TM) spectral analysis package quantitatively analyzes technology acoustic properties of screened objects, which produce an acoustic fingerprint.

This acoustic fingerprint based on the material spectral acoustic properties of impedance, sound velocity and absorption will allow a computer to be programmed to automatically detect illicit materials such as plastic explosives.

Transmitting a short wide bandwidth burst of acoustic energy; receiving the returned acoustic energy and processing the returned acoustic energy utilizing tools obtain the acoustic fingerprint. The product development is expected to take about six months to complete. The expectation is that the prototype will exhibit characteristics, which allow the product to obtain FAA certification.

The publication Aviation Security International (October 2000 Edition) stated, ``In the same way that access control systems (biometrics and card) can now be integrated with metal detection to facilitate the movement of staff into restricted areas, so too the aim must now be for the manufacturers of metal detection and explosive detection and passenger X-ray technologies to continue to work tighter to develop fully integrated screening portals that combine the different detection methodologies.''

In addition to this self-funded product development, the Company submitted four other proposals to the Department of Defense, all focused on primary screening applications for illicit materials such as explosives, biohazards and nuclear radioactive compounds.

For additional information about Eurotech and its technologies visit the Company website www.eurotechltd.com.
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