BOSTON, April 10, 2006 (PRIMEZONE) -- Technest Holdings, Inc. (OTCBB:TCNH), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that its wholly owned subsidiary, Genex Technologies, Inc., has relocated its operations to a new facility in Bethesda, MD, as of April 1, 2006.
The nearly 7,000-square-foot facility represents a significant improvement from the former Genex workplace, which was based in nearby Kensington, MD, for the past nine years. The new office provides additional space in a more modern and professional working environment for Genex Technologies' research and development and product development staff, enabling the company to better manage its growing support of customers in the advanced 3D imaging and security arena.
The contact information for Genex Technologies' new corporate office is as follows:
10411 Motor City Drive, Suite 650 Bethesda, MD 20817 Telephone: 301-767-2810 Fax: 301-767-2811
For more information, please visit the Genex website at www.genextech.com.
About Technest Holdings, Inc.
Technest Holdings, Inc. 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. For more information, visit the company's website at www.technestholdings.com.
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.