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Force Protection Receives New Service and Support Orders
Friday, August 08, 2008 3:37 PM
Symbols: FRPT
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Force Protection, Inc. (NASDAQ: FRPT) today announced that it has received a new contract modification for the service and support, including spare parts, of its Mine Resistant Ambush Protected Vehicles. This order modifies the M67854-07-D-5031 MRAP contract with Marine Corps Systems command to enable the Defense Logistics Agency (DLA) to place orders under that contract. Deliverables under the modification, which totals $69.5 million, are expected to run through 2009. This modification is subject to the company’s agreement with General Dynamics Land Systems providing for a share of the deliverables and the actual revenue split between the partners is to be determined.

Michael Moody, Chairman and Chief Executive Officer of Force Protection, commented, “We continue to see significant levels of service and support work for our fleet of vehicles and we remain pleased with the strong relationship we have developed with the United States Marine Corps, our largest customer. This modification builds upon our relationship with the Defense Logistics Agency to provide ongoing support to our vehicles in the field.”

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, 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 are not historical facts, including statements about our beliefs and expectations are forward-looking statements. These statements are based on beliefs and assumptions by Force Protection’s management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual result to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, our ability to fulfill the above described orders on a timely basis, our ability to effectively manage the risks in our business; the reaction of the marketplace to the foregoing; and other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s Form 10-Q for the quarter ended September 30, 2007.

Force Protection, Inc.
Tommy Pruitt, 843-574-3866
Senior Communications Director
or
Investor Relations:
ICR Inc.
James Palczynski, 203-682-8229
Principal and Director

(Source: Business Wire )



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