SEATTLE, April 26, 2006 (PRIMEZONE) -- TechAlt, Inc. ("TechAlt") (OTCBB:TCLT) announced today that its operating subsidiary, TechAlt Securities Technologies, Inc. has been selected as a subcontractor by an established global defense contractor for the engineering, installation, maintenance and technical support for various Combat Control and C4I (Command, Control, Communications, Computers and Intelligence) systems for the weapons ranges of Eglin Air Force base. The parties executed a letter of intent and expect to sign a contract within twenty days, prior to commencement of the project at Eglin in June 2006. TechAlt estimates revenue potential of up to generating $5 million over the three-year period of the intended contract.
The letter of intent proposes that TechAlt will perform work under a subcontract in support of the Armament Systems Test and Training Environment (ASTTE) of the 46th Test Wing at Eglin Air Force Base. Technical services to be performed under this contract include providing TechAlt equipment in support of geo-location and C4I upgrades, installing the system upgrades, conducting pre- and post-installation testing and equipment verification, and maintaining the systems post deployment.
"This is a significant step forward for TechAlt's continuing strategy in the homeland security market and illustrative of TechAlt's potential within the government contracts arena," said David Otto, President and CEO of TechAlt, Inc.
Federico Pacquing, President of TechAlt Security Technologies, Inc., added, "The deployment of our mesh-networking and GPS technologies will allow Eglin and other military customers to inexpensively and efficiently keep track of their personnel, vehicles and other assets across their test and weapons ranges. By working closely with our system integrator partners, our products can provide a diverse set of defense and homeland security solutions that can both save lives and offer real-time situational awareness." TechAlt expects to begin product installation and maintenance in the third quarter of 2006.
About TechAlt
TechAlt, Inc. seeks to become the market leader in bringing safety and security solutions to the homeland security market through innovative alternative technology. TechAlt Security Technologies seeks to deploy mission critical technology that provides video, voice, and data in various homeland security-related markets. TechAlt Security Technologies targets the development and implementation of mission critical technology that provides video, voice, and data in various homeland security-related markets including, among other things, secure wireless communications toolset to be used by emergency first responders for interagency interoperability, communication and collaboration. The company's mission is to deliver a complete technology solution for a wide range of security solutions by developing, implementing and acquiring various technologies. Please visit our web site at http://www.techaltinc.com.
Cautionary Warning Regarding Forward-Looking Statements
This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our ability to meet existing debt obligations; (2) our limited operating history; (3) our ability to retain the professional advisors necessary to guide us through our corporate restructuring; (4) unforeseen costs, expenses and the legal risks of collaboration between independent entities in the co-development of a product line; (5) potential litigation with our shareholders, creditors and/or former investors; (6) the Company's ability to comply with federal, state and local government regulations; and (7) other factors over which we have little or no control.