BOSTON, Feb. 2, 2006 (PRIMEZONE) -- Technest Holdings, Inc. www.technestholdings.com (OTCBB:TCNH), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that its wholly owned subsidiary EOIR Technologies Inc. has delivered initial M22 ACADA (Automatic Chemical Agent Detection and Alarm) simulator equipment to the U.S. military for evaluation and chemical detection training operations.
The simulator is based on the actual M22 ACADA used by the U.S. Army, Air Force and Marines as well as numerous Homeland Security agencies -- a nerve/blister chemical agent detector with advanced point-sampling agent alarm capability; it simulates nerve and blister chemical attacks while reporting operator errors to the instructor in real time.
The M22 ACADA Simulator provides a low-cost solution for realistic operator training while it frees actual equipment assets for deployment. The Simulator also permits remote instructor control over multiple simulator units using a PDA to enable more effective training.
The M22 ACADA Simulator is built to the exact measurements of the actual M22 ACADA system. It can be controlled using a wireless PDA. This enables the instructor to configure and control multiple units simultaneously during training.
Thousands of M22 ACADA units are now deployed by the military both overseas and domestically. The Technest Holdings Inc. simulator unit will provide operators of this equipment, significant new cost effective opportunities to train for operational readiness.
Technest Holdings Inc provides the U.S. military and Homeland Security marketplace with an integrated suite of innovative chemical detection equipment and training systems. For more information please visit web site http://www.technestholdings.com/technology_portfolio/chemical_detection.html
Technest Holdings had fiscal first quarter ended September 30, 2005 sales revenues of $19M and as of December 31, 2005 Technest Holdings Inc. had funded backlog of $51.4M.
About Technest Holdings, Inc.
Technest Holdings, Inc. (OTCBB:TCNH) is a provider of: advanced remote sensor systems, chemical detectors, intelligent surveillance and advanced 3D imaging technology solutions to the defense and homeland security marketplaces. Technest is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. Technest's solutions support military, law enforcement and homeland security personnel. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields.
"Forward-Looking Statements"
Investors are cautioned that certain statements contained in this press release as well as some statements in periodic press releases and some oral statements of Technest Holdings Inc. officers and directors during presentations about Technest Holdings , are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Technest Holdings, its products, economic and market factors and the industries in which Technest Holdings does business, among other things. These statements are not guarantees of future performance and Technest Holdings has no specific intention to update these statements. More detailed information about those factors is contained in Technest Holdings filings with the Securities and Exchange Commission. http://www.sec.gov/
Technest Holdings, Inc. is a featured Company on http://www.HomelandDefenseStocks.com, a service for which Technest Holdings compensates the provider.
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