YOUNGSVILLE, N.C., Dec. 23 /PRNewswire-FirstCall/ -- Law Enforcement Associates Corporation (LEA) (AMEX:AID), a leading provider of surveillance and security products to the global law enforcement, military, security and corrections markets, today issued an update on business activity and the company's progress at commercializing the MP-1 Stun Pistol.
Management said the company is closing out the most productive and eventful year in LEA's history and is preparing to enter 2006 with solid momentum and a number of compelling new business opportunities.
"We have made significant progress during the past year at moving the MP-1 toward commercialization," said Paul Feldman, president. "Internal and third-party testing in 2005 led to a number of important feature enhancements and helped prove the overall viability and competitive advantages of this product line. Our progress with the MP-1 has generated interest from some of the leading manufacturers in this area. Discussions are scheduled for early January with a prospective commercial partner interested in assisting with the introduction, manufacturing and sales of the MP-1 to domestic and international law enforcement agencies." Feldman added, "Our objective with the MP-1 is to augment our highly successful line of audio and video surveillance equipment. We are pursuing commercialization opportunities that would concurrently provide limited risk and long-term benefit to our business, customers and shareholders. We believe partnering with an experienced manufacturer may represent the best course for achieving each of our objectives." Feldman said LEA is enjoying strong demand for its core line of audio and video surveillance equipment and will enter fiscal 2006 with a backlog of $1.2 million. "We are receiving new orders for our EDK123 explosive detection kits from the U.S. military in Iraq, and we have had numerous EDK-related inquiries from foreign governments. Additionally, interest in our Under Vehicle Surveillance System (UVI) remains strong, and we recently commenced discussions with a U.S. munitions manufacturer regarding the licensing of our 'infrared shell,' for which we filed a patent application last June." About Law Enforcement Associates Corporation LEA is a leading security and surveillance technology company that manufactures and markets a diverse product line to the worldwide law enforcement, military, security and corrections markets. The company's Audio Intelligence Devices (AID) division has been serving the law enforcement sector for more than 30 years and is one of the most respected names in the surveillance equipment industry. LEA's products are used by a wide variety of government and non-governmental agencies, as well as public and private companies. These include military bases, nuclear facilities, embassies, government installations, oil refineries, United Nations and NATO locations. LEA's products also have been used at high-profile events such as the Summer & Winter Olympics, Super Bowl, U.S. Golf Championship, and the Democratic and Republican National Conventions. Its products include the Under Vehicle Inspection System (UVIS), EDK123 (Explosive Detection Kit), Bloodhound GPS Tracking System, Letter-bomb Visualizer Spray, and a wide variety of Audio & Video Surveillance Equipment. Headquartered in Youngsville, N.C., the company has been featured in many industry publications and websites. For more information, please visit http://www.leacorp.com/.
Forward-Looking Information The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sales, or the lack of acceptance of the company's products by its customers. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized. DATASOURCE: Law Enforcement Associates Corporation CONTACT: Geoff High of Pfeiffer High Investor Relations, Inc., +1-303-393-7044, for Law Enforcement Associates Corporation Web site: http://www.leacorp.com/
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