Sydney, July 13, 2006 AEST (ABN Newswire) - Metal Storm (ASX: MST)(NASDAQ: MTSX) announced today it was awarded a US$331,426 (approximately A$442,125) contract by the United States Marine Corps Warfighting Lab, Ground Combat Element (GCE) Branch for the design, fabrication and test of 18mm stacked round firing systems.
Under the terms of the contract, Metal Storm will explore the feasibility of employing 18mm fin stabilized high explosive projectiles from an accessory under-barrel weapon for the M-16A4 service rifle. The firing technology will be a test bed potentially leading to Marine Corps experimentation with larger diameter finned projectiles than are possible with shotgun-launched munitions.
The signing of the contract follows previous advice to the market, on 10 May 2006 that the US Marine Corps (USMC) Systems Command had placed a notice on the US Federal Business Opportunities website that it intends to award a Sole Source Research and Development Contract to Metal Storm.
Australia Ian Gillespie Chief Operating Officer TEL: +61 (0) 7 3221 9733
US Peter Faulkner SVP US Operations TEL: +1 703 248 8218