METAL STORM DEMONSTRATES FIRINGS OF MULTI BARREL POD SYSTEM
INCORPORATING NEW 40MM AMMUNITION
BRISBANE, AUSTRALIA – 28 May 2003: Metal Storm Limited (ASX trading
code: MST and NASDAQ Small Cap ticker symbol: MTSX) announced today the
successful firing of a multi barrel pod system firing conventional 40mm
projectiles converted into a stacked round Metal Storm configuration.
In line with the company’s product development plans, the success of
these firings materially advances Metal Storm technology by demonstrating
a ‘conversion capability’ for conventional ammunition in a Metal Storm
weapon system. This significant demonstration opens the path for
further explosive firings and the development of high explosive and bursting
munitions.
These important firings substantially enhance Metal Storm’s ‘in house’
product development and allow for demonstrations of the company’s own
prototype products directly to defence customers.
Metal Storm’s Chairman Bill Owens said, “The development of the
‘conversion’ projectile and the firings, represent a future development path
that Metal Storm plans to expand in a number of ways. The company’s
investment in its R&D capability provides the means to build and
demonstrate our weapon systems and munitions to customers world wide.”
“This internal capability marks a new stage of R&D self reliance for
Metal Storm by enhancing our work with external agencies in the
development of Metal Storm technology. I anticipate it will be particularly
beneficial in moving to secure major R&D programs in defence and will also
improve our ability to meet commercial timelines.”
The developments announced today will be further refined in coming
months and will lead into direct technical support of the SBIR programs
Metal Storm is currently undertaking in the US. The success of this
week’s demonstration extends the previously announced Repeatable Access
Denial System (RADS) from its original 16mm calibre kinetic system up to a
40mm bursting, explosive munition system. The RADS system will be
developed and combined with other calibres ready for demonstration in the
US in the second half of 2003.
Bill Owens added, “The outcomes of these firings represent significant
technological progress which allow the company to advance its munition
development from kinetic and pyrotechnic projectiles through to a
variety of lethal and less than lethal munitions to meet the capabilities
demanded by customers from Metal Storm weapon systems. The company is
currently in dialogue with a number of leading munition manufacturers in
response to interest to produce Metal Storm munitions."
Former US Special Operations Commander and Director of Metal Storm,
General Wayne Downing said, “These firings represent a demonstrated
capability which is simply not available in the weapon inventory today. The
company’s plans to further develop and demonstrate the multi calibre,
multi barrel pod systems with a variety of lethal and non lethal
munitions, provides a new and leading edge capability that fits with the mix
and match capabilities that ground commanders are seeking on the
battlefield today. The Iraq War demonstrated just how vital it is for ground
forces to have a choice in responding to a range of threats that rise
on the battlefield with little or no warning. The firings and
developments announced by Metal Storm today go a considerable way to making that
capability a reality”.
**Key Outcomes and Technical Firing Details**
- The firing of 40mm conventional projectiles converted into a multi
stacked Metal Storm configuration. The Metal Storm designed projectiles
are fully self contained and can provide for easy loading and unloading
for multiple or individual rounds. The conversion projectiles have
direct application in single barrel, multi barrel or reloadable shoulder
fired systems.
- The first firing of explosive ‘flash bang’ 40mm ammunition in a
multiple stacked Metal Storm configuration from a rifled barrel. ‘Flash
bang’ means the rounds ignite a small explosive charge on impact. The
success of this particular firing indicates the Metal Storm design will
technically lead into the firing of high explosive munitions in the Metal
Storm stacked configuration.
- As a consequence of the new projectile design, Metal Storm also fired
a 40mm, 16 barrel ‘pod’ mortar box system. 40mm munition is a very
diverse calibre and is used in many weapon systems. The new 40mm RADS pod
can be fired in the direct and indirect fire role and leads directly
into supporting a number of existing R&D programs.
- Importantly, the new 40mm conversion projectile will provide for
individual or multiple projectile loading or re-loading for shoulder fired
weapons. Further, developments of this capability will incorporate
electronic and non electronic ignition systems including inductive
ignition. This will be done by making the new technology available to enhance
existing defence programs supporting this capability, or by
independently developing Metal Storm’s experimental VLe Combat Weapon.
The weapon systems fired by Metal Storm will be on display at the
Company’s Annual General Meeting in Brisbane, Friday 30 May 2003.
www.metalstorm.com
**About Metal Storm**
Metal Storm Limited is a research and development company based in
Brisbane, Australia. The company is capturing attention from defence
organisations worldwide with its revolutionary 100% electronic ballistics
technology, which has no known conventional equivalent. Metal Storm
currently has approximately AU$100 million in research and development
funding in place to develop its technology from leading government
defence-related agencies in Australia and the United States. Additionally, the
company is well positioned to support the U.S. government's more urgent
homeland defence needs. Recently, the U.S. Department of Defense has
accelerated the programs under development as it strengthens its
counter-terrorism capabilities.
**Safe Harbour**
Certain statements made herein that use the words “estimate”,
“project”, “intend”, “expect”, “believe” and similar expressions are intended to
identify forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve known and unknown risks and uncertainties which could cause
the actual results, performance or achievements of the company to be
materially different from those which may be expressed or implied by such
statements, including, among others, risks or uncertainties associated
with the development of the company’s technology, the ability of the
company to meet its financial requirements, the ability of the company to
protect its proprietary technology, potential limitations on the
company’s technology, the market for the company’s products, government
regulation in Australia and the U.S., changes in tax and other laws, changes
in competition and the loss of key personnel. For additional!
information regarding these and other risks and uncertainties
associated with the company’s business, reference is made to the company’s
reports filed from time to time with the Securities and Exchange
Commission, including the company’s Form 20-F.
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Further information:
Company Enquiries:
Australia:
Sylvie Moser-Savage - Company Secretary Ph: #61 (0) 7 3221 9733
United States:
Chuck Vehlow – Chief Executive Officer - Metal Storm, Inc. Ph: 703 248
8218
Investor Enquiries:
United States:
Jody Burfening - Lippert/Heilshorn & Assoc. Ph: 212 838 3777
Australia:
Frank Sufferini - Orient Capital Pty Ltd Ph: #61 (0) 2 9964 0200
Media Enquiries:
United States:
Lippert/Heilshorn & Assoc. Ph: 212 838 3777
Australia:
John Bayly - Bayly Willey Holt Ph: #61 (0) 7 3368 2355 |
