MTSX Metal Storm Limited ADS (MM)

ARLINGTON, Va., Sept. 30 /PRNewswire-FirstCall/ -- Defense technology company Metal Storm Limited (NASDAQ:MTSX) today announced the appointment of Mr Terry O'Dwyer as Chairman and Mr James Crunk as a Director, effective today. Mr O'Dwyer has been interim Chairman since May 2004 and a Director since 1998. Mr Crunk has almost 25 years experience in the aerospace, defense, manufacturing and telecommunication industries. He also has significant international experience in arranging and negotiating partnerships, joint ventures, strategic alliances, financing and major contracts. He is the controller of a division of a large defense contractor and has been Chief Financial Officer of start-up companies, where he was responsible for capital structure, the formation of significant strategic alliances and obtaining commitments prior to operational startup. He has worked for Lockheed Martin in a number of senior positions including: Director of Business Planning & Finance and Vice President, Business Administration and Financial Management (CFO) for the Lockheed Martin-Space Operation; and Director, New Business & Venture Finance for Lockheed Martin-Telecommunications. As Director of Business Planning & Finance for the Lockheed Martin-Space Operation, he was the leader of the NASA Privatization/Commercialization proposal area and was a senior member of the winning $US 4.3 billion NASA Consolidated Services Operations Contract Proposal team. Prior to Lockheed Martin, he worked as President of Advanced Technology Ventures, Inc. and in senior financial and business management roles including Director, Procurement & Contracts with global telecommunications satellite operator & service provider INTELSAT. Mr Crunk brings unique skills to the Board of Metal Storm particularly in the areas of US regulatory, administrative, defense procurement, cost accounting and audit matters. Notes: Metal Storm's Australian Stock Exchange trading code: MST Metal Storm's NASDAQ Small Cap ticker symbol: MTSX http://www.metalstorm.com/ About Metal Storm Metal Storm Limited is a defense technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked round" technology. The company is headquartered in Brisbane, Australia and incorporated in the US, with an office in Washington DC. The company has invented a ballistics technology that has no known conventional equivalent. Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilizing the Metal Storm non-mechanical, electronically fired stacked ammunition system. Safe Harbor Certain statements made herein that use the words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the US, changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the company's business, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission, including the company's Form 20-F. DATASOURCE: Metal Storm Limited CONTACT: Investors: Gregory Pettit, +1-212-885-0301, , or Media: Stefan Anikewich, +1-212-885-0505, , both of Hill & Knowlton for Metal Storm Web site: http://www.metalstorm.com/

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