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Flight Safety Technologies, Inc (AMEX: FLT) announced that on
February 28, 2007 it had achieved an important milestone in
demonstrating the initial functional emulation of the Aircraft Wake
Safety Management (AWSM) system. The demonstration of this functional
emulation, based on aircraft arrivals previously recorded using
SOCRATES and LIDAR sensors at the Denver International Airport test
site, was delivered at the Volpe National Transportation Systems
Center in Cambridge, Massachusetts. In attendance were Volpe DOT, as
well as Company representatives. The development effort was
accomplished under U.S. Government funding and supplemented by Company
capital funds.
Although the Company believes that this demonstration represents a
major step forward, there is no assurance as to whether or when the
Company will proceed with a live emulation of the AWSM system and no
public or private funding has yet been identified for any U.S. or
international airport implementation. The Company expects that,
following further presentations to FAA and other government officials,
a summary of the demonstration will be made available through a link
in the Company's website in the near future.
About Flight Safety Technologies, Inc.
Flight Safety Technologies, Inc. is a development stage company
pursuing advanced technologies aimed at enhancing safety, security and
efficiency for the aviation industry. These new technologies include
AWSM(TM), SOCRATES(R), UNICORN(TM) and TIICM(TM). The Aircraft Wake
Safety Management (AWSM(TM)) system is being developed to provide a
total airport system solution to the need for increased airport
capacity with enhanced safety. SOCRATES(R) is an airport based laser
acoustic sensor for the detection and tracking of wake vortex
turbulence. UNICORN(TM) is an airborne radar for collision avoidance
using state of the art components to achieve low cost, small size and
light weight. TIICM(TM) is an airborne passive countermeasure
initiative to protect airliners against the threat of certain
terrorist missile attacks.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward looking statements
identified by the use of words such as should, believes, plans, goals,
expects, may, will, objectives, missions, or the negative thereof,
other variations thereon or comparable terminology. Such statements
are based on currently available information which management has
assessed but which is dynamic and subject to rapid change due to risks
and uncertainties that affect our business, including, but not limited
to, the outcome of pending class action litigation alleging violations
of federal securities laws, pending litigation challenging our rights
to TIICM(TM), whether the government will implement WVAS at all or
with the inclusion of a SOCRATES(R) wake vortex sensor, the impact of
competitive products and pricing, limited visibility into future
product demand, slower economic growth generally, difficulties
inherent in the development of complex technology, new products
sufficiency, availability of capital to fund operations, research and
development, fluctuations in operating results, and other risks
detailed from time to time in Flight Safety Technologies, Inc.'s
filings with the Securities and Exchange Commission. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, goals,
assumptions or future events or performance are not statements of
historical fact and should be considered forward looking statements.
Forward looking statements involve a number of risks and uncertainties
which could cause actual results or events to differ materially from
those presently anticipated.
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