Press Release 03 May 2007

 

Mikros Systems Corporation Announces $2.4M Contract

Mikros Systems Corporation (OTCBB: MKRS), Princeton, New Jersey, May 3, 2007 -- Mikros Systems Corporation announced today that it was awarded a $2.4 million contract from the Naval Surface Weapons Center, Port Hueneme Division (NSWC PHD) for the continuing development of ADEPT^®.  ADEPT is Mikros’ automated maintenance tool designed to reduce significantly the man-hours required to align the AN/SPY-1 Radar System aboard U.S. Navy AEGIS cruisers and destroyers while optimizing system performance and readiness.  NSWC PHD is the U.S. Navy’s In-Service Engineering Agency (ISEA) for the AN/SPY-1 Radar System.

This contract provides for the continuing development of advanced capabilities for ADEPT, the finalizing of an ADEPT Integrated Logistics Support Plan required for fleet fielding, and the Low Rate Initial Production (LRIP) of ten (10) ADEPT(V)2 units which are half the size and weight of the original ADEPT(V)1 while maintaining the same functionality.   The contract follows successful testing and evaluation of ADEPT on one AEGIS cruiser along with testing at the Navy’s AN/SPY-1 Cruiser Modernization Test Facility in Moorestown, NJ.  It is expected that the ADEPT equipment will initially be installed on AEGIS cruisers undergoing modernization with introduction into the destroyers to follow.  The entire U.S. Navy AEGIS fleet consists of 22 cruisers and 62 destroyers.

“We are very pleased to have earned this contract and believe the ADEPT^® is a significant contribution to the U.S. Navy’s fleet readiness, reducing maintenance time and simplifying the test procedures for the sailors,” stated Thomas Meaney, President of Mikros.

ADEPT is a registered trademark of Mikros Systems Corporation.

About Mikros

Mikros Systems Corporation is an advanced technology company specializing in the research and development of electronic systems technology primarily for military applications.  Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, combat/command, control, communications, computers and intelligence systems engineering, and communications engineering.  Mikros’ primary business is to pursue and obtain contracts from the Department of Homeland Security, U.S. Navy, and other governmental authorities. 

Source: Mikros Systems Corporation

CONTACT: Thomas J. Meaney - (609) 987-1513

Important Information about Forward-Looking Statements:  All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-KSB for the year ended December 31, 2006 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.   

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