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To: moby_dick who wrote (18032)	2/18/2004 10:11:00 AM
From: fastcats	Read Replies (2) \| Respond to of 120415

NIHK - Could the insider sales be related to this?... 11:01 a.m. 02/11/2004 Lockup Agreement in Place DENVER, CO, Feb. 11, 2004 (MARKET WIRE via COMTEX) -- Nighthawk Systems, Inc. (NIHK), a provider of intelligent remote power control equipment and services, today announced that its three largest shareholders have completed the transfers of shares necessary to activate an 18-month lockup of their remaining shares. The lockup provision is part of an agreement between the Company and a former director, Herb Jacobson, and his wife, which was originally announced on January 7, 2004. The agreement also includes their son, Steve Jacobson, the former CEO of Nighthawk. The Jacobsons, who founded Nighthawk, collectively own or control approximately 30% of the Company's outstanding common stock. H. Douglas Saathoff, Nighthawk's Chief Executive Officer, stated "The commitment by the Jacobsons to the lockup period enhances the Company's position with existing and potential funding sources, and should confirm to current and potential shareholders that the Company is committed to building value in the coming months. Management can now focus on strengthening the Company's financial condition and implementing a stronger sales and marketing plan. Although we made significant progress in penetrating key markets and are coming off the most successful sales year in our history, I believe we have just scratched the surface of our true potential." Mr. Saathoff added, "We believe we have the most cost effective, easiest-to-use wireless remote control solutions on the market. Our products are ready to be sold today into our targeted markets, and afford our customers the opportunity to cut expenses or even generate additional revenues. With the addition of our ORBCOMM satellite-based unit to our existing paging-based product line, we now can offer remote power control virtually anywhere in the world, right out of the box, at breakthrough prices." About Nighthawk Systems, Inc. Nighthawk Systems, Inc. designs and manufactures easy to use 'plug and play' products than can remotely control virtually any electrical device from any location. Nighthawk products are easily installed and operated by anyone, regardless of technical capability. Nighthawk services customers in a variety of markets including electric utilities, traffic control, computer systems, commercial lighting, and irrigation. For more information visit www.nighthawksystems.com . Forward-looking statements. Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, demand and acceptance of new or existing businesses, capital resources and future financial results are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information. Company: Nighthawk Systems, Inc. Phone: 210-341-4811 Email: hds-nihk@satx.rr.com Copyright 2004 Market Wire, All rights reserved.