Press Release 4 June 2008

 

Mikros Systems Awarded a Navy Seaport-Enhanced (SeaPort-e) Contract

 

Princeton, NJ /PRNewswire-FirstCall/ June 4, 2008 – Mikros Systems Corporation (Princeton, NJ: OTCBB MKRS), announced today that it has been awarded a SeaPort Enhanced (SeaPort-e) contract by the U.S. Navy. 

SeaPort-e is an indefinite delivery, indefinite quantity (IDIQ) contract established to facilitate a Navy-wide electronic procurement process that leverages buying power, improves business intelligence, and reduces purchasing time. SeaPort-e supports all commands within the Naval Enterprise including the Naval Sea Systems Command, Naval Air Systems Command, Space and Naval Warfare Systems Command, Naval Supply Systems Command, Military Sealift Command, Naval Facilities Command, Strategic Systems Programs, the United States Marine Corps, as well as other Department of Defense agencies.

Mikros will lead a team of highly skilled and experienced companies with proven records of providing engineering solutions in support of Navy requirements. The SeaPort-e team includes: Basic Commerce and Industries, Inc.; Ocean Power Technologies, Inc.; and, Oberon Wireless, Inc.

This SeaPort-e award provides a simplified contracting platform that will allow Mikros and its team members to enter into a streamlined bid and procurement process for task orders released by Naval Enterprise Commands. This award has a base period of one year, with two additional award terms for a possible total of ten years.  The Naval Sea Systems Command, Naval Surface Warfare Center, Dahlgren Division in Dahlgren, VA is the contracting activity.

“This award will provide Mikros an excellent alternative contract vehicle to complement our continued success under the Department of Defense Small Business Innovative Research (SBIR) programs,” said Tom Meaney, Mikros President. "The SeaPort-e Contract award puts us in a leadership position of a very exciting and potentially long term opportunity to partner with the U. S. Navy and a group of top notch government contractors.  We expect that the experience and capabilities of our team will result in future task order awards in the areas of research and development, engineering support, modeling and simulation, and software development.” 

For more information about the Navy’s Seaport-E program visit: www.seaport.navy.mil

The public is encouraged to view the Mikros website (www.Mikros.us) for further information and updates on the Company.

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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