CDCYE Compudyne (MM)

CompuDyne Corporation (Nasdaq:CDCYE), an industry leader in sophisticated security products, integration and technology for the public security markets, announced that it had total awards of $13.7 million during the month of April, 2005. The Public Safety & Justice group had $1.5 million in awards and maintenance renewals. Attack Protection had $2.2 million of awards in April including $610 thousand for work on a new embassy in Beijing and a $720 thousand order for Fiber SenSys product to protect oil fields and refineries in the Middle East (not in Iraq). Approximately seventeen new embassies are scheduled to be let during the second half of 2005. Institutional Security Systems ("ISS") reported awards of $9.6 million including the previously announced $6.1 million Winnebago County, Illinois project. In late May, ISS was awarded an $8.8 million contract by Centex Construction for a 1,000-cell State of North Carolina Close Security Facility No. 6 to be located in Tabor City, NC. The project will include Airteq pneumatic hardware as well as other security hardware and security electronics. Construction is scheduled to begin in May of 2005 and be complete by February of 2008. Integrated Electronic Systems ("IES") had $380 thousand of awards. The initial protest of IES' $25.4 five-year contract award from the Bureau of Engraving and Printing was denied and IES expects to begin work on this contract in June. If no further protest is registered, a portion of this contract will be added to Company backlogs in May. Certain statements made in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including those statements concerning the Company's expectations with respect to future operating results and other events. Although the Company believes it has a reasonable basis for these forward-looking statements, these statements involve risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors which could cause actual results to differ from expectations include, among others, capital spending patterns of the security market and the demand for the Company's products, competitive factors and pricing pressures, changes in legislation, regulatory requirements, government budget problems, the Company's ability to secure new contracts, the ability to successfully grow the Company by completing acquisitions, the ability to remain in compliance with its bank covenants, delays in government procurement processes, ability to obtain bid, payment and performance bonds on various of the Company's projects, technological change or difficulties, the ability to refinance debt when it becomes due, product development risks, commercialization difficulties, adverse results in litigation, the level of product returns, the amount of remedial work needed to be performed, costs of compliance with Sarbanes-Oxley requirements and the impact of the failure to comply with such requirements, risks associated with internal control weaknesses identified in complying with Section 404 of Sarbanes-Oxley, and general economic conditions. Risks inherent in the Company's business and with respect to future uncertainties are further described in its other filings with the Securities Exchange Commission, such as the Company's Form 10-K, Form 10-Q, and Form 8-K reports.