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FAIRFAX, VA— June 17, 2008 —Argon ST, Inc. (NASDAQ: STST), a leading systems engineering, development and services company providing full-service C5ISR (command, control, communications, computers, combat systems, intelligence, surveillance and reconnaissance) systems and services to a wide range of customers, today announced that it has signed an exclusive supply agreement with ULD Logistics, LLC of Delta, OH, to provide telematics products and services to the commercial air freight shipping container market.
Under the agreement Argon will supply satellite radios and application services, to include satellite data services provided under an existing reseller agreement with ORBCOMM Inc., of Fort Lee, NJ (NASDAQ: ORBC). Terms of the agreement include minimum quarterly radio quantity purchases and multi-year service commitment over six years.
"We are very pleased that ULD Logistics has selected Argon to be its end-to-end telematics provider,” said Kerry Rowe, Chief Operating Officer, Argon ST. “This agreement opens a new market to Argon, and represents a successful milestone in the expansion of our telematics business. ULD Logistics is a world leader in the management of air cargo containers, and through this relationship the two companies are poised to lead the way to improving efficiency for air cargo shippers.” Mr. Rowe added, “Argon looks forward to working with ORBCOMM on this global opportunity as well as the recently awarded ORBCOMM Generation 2 satellite payload contract.”
“ULD Logistics, LLC (ULDL) is extremely pleased to have partnered with Argon ST and ORBCOMM on our new innovative ULD Tracking System which will improve visibility to airline/transportation equipment throughout the world,” stated William H. Toedter, Vice President, ULD Logistics. “This new product will enable air freight, airline, and pooling providers to keep track of equipment through exclusive GPS technology whether operating within their network and/or outside of their network. The combined efforts of our three companies will enable us to provide an unsurpassed product to the market that will improve efficiency, utilization, and greatly reduce lost equipment.”
“The unique attributes of our three companies, Argon, ULD Logistics and ORBCOMM, make this a very compelling solution for the commercial air freight shipping container market,” said Marc Eisenberg, CEO of ORBCOMM. He continued, “ULD’s experience in airline container management and Argon’s systems integration capabilities takes full advantage of ORBCOMM’s unique ability to globally track, monitor and secure widely dispersed remote assets.”
About Argon ST, Inc.
Argon ST, Inc. designs, develops, and produces systems and sensors for the Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance (C5ISR) markets including radio frequency communications, imaging, and acoustic systems serving domestic and international markets. Our satellite and terrestrial telematics products and services are currently serving the heavy equipment and shipping container markets. For more information, visit www.argonst.com.
About ULD Logistics, LLC
ULD Logistics, LLC (IATA Code: X5) is a solutions provider to the air transportation industry. Its mission is to reduce the overhead associated with maintaining a fleet of Unit Load Devices. Whether transporting, leasing, purchasing, repairing, or storing, ULD Logistics can help improve efficiency, repositioning airline assets and personnel to more productive projects. For more information, visit www.uldlogistics.com.
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company focused on Machine-to-Machine (M2M) communications. By means of a global network of 29 low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The company's products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a Network Control Center in Dulles, Virginia. For more information, visit www.orbcomm.com.
Forward-Looking Statements
Statements in this press release which are not historical facts are forward-looking statements under the provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future performance and are based upon numerous assumptions about future conditions that could prove not to be accurate. Forward looking statements are subject to numerous risks and uncertainties, and our actual results could differ materially as a result of such risks and other factors. In addition to those risks specifically mentioned in the reports filed by the Company with the Securities and Exchange Commission (including the Company’s Form 10-K for the fiscal year ended September 30, 2007), such risks and uncertainties include, but are not limited to: the availability of U.S. and international government funding for the Company’s products and services; changes in the U.S. federal government procurement laws, regulations, policies and budgets (including changes to respond to budgetary constraints and cost-cutting initiatives); the number and type of contracts and task orders awarded to the Company; the exercise by the U.S. government of options to extend the Company’s contracts; the Company’s ability to retain contracts during any rebidding process; the timing of Congressional funding on the Company’s contracts; any government delay in award or termination of the Company’s contracts and programs; difficulties in developing and producing operationally advanced technology systems; the timing and customer acceptance of contract deliverables; the Company’s ability to attract and retain qualified personnel, including technical personnel and personnel with required security clearances; charges from any future impairment reviews; the future impact of any acquisitions or divestitures the Company may make; the competitive environment for defense and intelligence information technology products and services; general economic, business and political conditions domestically and internationally; and other factors affecting the Company’s business that are beyond its control. All of the forward-looking statements should be considered in light of these factors. Investors should not put undue reliance on any forward-looking statements. We undertake no obligation to update these forward-looking statements to reflect new information, future events or otherwise.
Argon ST, Inc.
703-995-5610
Investor Contact:
Aaron Daniels
ir@argonst.com
Media Contact:
Lori Hughes
media@argonst.com