4-ounce tank of standard propane provides more than 50,000 shots
as compared to a 20-ounce tank of CO2, which offers roughly 800 to 1,000
shots.
A 16., Tippmann Sports prides itself on
"American Made" manufacturing and the pursuit of cutting edge technology and
design.

PRESS RELEASE CEO Corner -- February 2006

The processes for the testing
and certification of munitions , particularly for the US market, are
rigorous and complex.

cooly gladiators

Plus, the PEP Technology (propane -enhanced
performance) behind the C3 is expected to open the game to new players,
especially those in rural areas where CO2 is more difficult to find as well as
less experienced players seeking a hassle-free and cost-effective way to get
started in paintball.
Players will also enjoy the extended performance offered through Propane.4-ounce propane canister can be purchased for $8 or less , versus $30
to $35 for a 20-ounce CO2 tank.
"In many ways, propane is the ideal fuel source for a paintball marker --
it's readily available, inexpensive, easy to use and very safe," said Denny
Tippmann, an impressive growth rate for any sport.
"As paintball continues to grow in popularity , it's important to introduce
new technologies that will make the game accessible to many types of players,"
Tippmann continued. "The C3 offers many exciting advantages and we believe
more and more paintball fields will be introducing pump-only areas and
tournaments to attract these new players in the future. (NYSE:UDI) has received two separate contracts for
the Bradley program; a change order not to exceed $54 million and a
contract modification for $14.2 million. Metal Storm stands ready to complete its subcontract
with Dragonfly Pictures.

paintball cannons

(Photo: http://www. This is an exciting
development for paintball players who, until now, may have had a difficult
time finding a store capable of filling their empty CO2 or nitrogen canister. The firings successfully demonstrated our
ability to fire these off-the-shelf, full scale, explosive warheads. The delays are not the
responsibility of Metal Storm and relate to issues outside of our control
as subcontractor. We have chosen to
focus on low velocity first because we believe it represents the best
market opportunity for the introduction of our technology. Low velocity 40mm weapons are also best suited to urban
warfare applications where low weight, mobile systems, and the reduced risk
of collateral damage are important.

Metal Storm is working with government agencies and departments, as well as
industry, to develop a variety of systems utilising the Metal Storm
non-mechanical, electronically fired stacked ammunition system . The Metal Storm weapons system utilizes
multiple barrels mounted together on one platform which allows varying
munitions types to be deployed in a single, low cost, lightweight weapon
system .

wolfpack captioned

This technology
really has the potential to grow the game and introduce paintball in
previously untapped markets.tippmann.com .

United Defense Receives Two Bradley Contracts Totaling $68 Million

Contract modification. and Aiken, SC.

About United Defense

United Defense designs, develops and produces combat vehicles,
artillery, naval guns, missile launchers and precision munitions used
by the U.com

Forward-Looking Statements

Information in this release may involve guidance, expectations,
beliefs, plans, intentions or strategies regarding the future.

Since my last update in November 2005 the company has seen a number of positive developments announced:

-- A Phase II SBIR contract award from the US Navy for the research and
development of a remotely operated active protection system based on our
40mm platform worth approximately A $1. The ADWS weapon which was demonstrated in
Australia in July last year was a high velocity weapon .

411 sarge

When the propane canister on a C3 runs out, it can
simply be discarded and replaced with a new one.2 million
modification, initially funded at $7.S.

By using existing certified warheads and attaching Metal Storm tailpieces
that replace the conventional shell casing we aim to reduce the number of
steps required to achieve certification of the new Metal Storm munition
type. Hence our current
focus on converting existing munitions. Together with EOS we are putting every effort into realising
this objective in the shortest possible time frame. The weapon will be able to fire the ST
Kinetics low velocity 40mm HE and Enhance Blast rounds that were
successfully test fired from our multi-barrel guns last week.

grenades spyder

To obtain enough CO2 for the 50,000 shots
provided by one propane canister, a player would need to spend an additional
$250.
Change order.S. Army's Tank -automotive and Armaments Command (TACOM) is a
contract to provide 120 Bradley A3 vehicles instead of 131 Bradley
Operation Iraqi Freedom (OIF) variants awarded in June. Work will be completed at United Defense
facilities in York, Pa., Santa Clara, Calif.

-- Unveiling of the Redback Weapon System prototype which has been
developed in collaboration with ST Kinetics and EOS. The
system design is based around our existing 40mm weapons system platform and
will benefit from all the development and engineering work we are doing
elsewhere as well as the munitions development I have already talked about. Metal Storm is performing on a
subcontract to Dragonfly Pictures, Inc .

Due to the importance of accomplishing this evolution, Metal Storm has
investigated using other available air platforms provided by other
partners.

Other matters

I would like to cover a number of other matters that require comment or
update:

-- Focus on Low Velocity Systems

A number of people have asked me why we are focusing on just low velocity
systems and if this means that Metal Storm technology cannot cope with high
velocity munitions. We are currently in
negotiations with Starchase and we will advise the outcome if and when the
negotiations result in an agreement.

rantings cannons

All
forward-looking statements included in this release are based upon
information available to United Defense Industries, Inc.

As part of this CEO Corner, I want to bring you up to date on our ongoing
projects and give you more detail on the munitions developments we are
engaged in with world-leading munitions developers ST Kinetics in Singapore
and the US Army Research Development and Engineering Center (ARDEC) in the
US. We also fired Enhanced
Blast and programmable Airburst rounds from the ST Kinetics munitions
stable.

-- New Work

We have submitted a number of new proposals for projects that fall within
our area of strategic focus.

rantings coauthored

The A3, is a technologically advanced, digital combat system
that significantly increases the Bradley's lethality and survivability
in battle.1 million, from TACOM to convert
Bradley air defense variants to an infantry fighting vehicle
configuration. To learn more about United
Defense, visit http://www .32 million.

Redback

The unveiling of the Redback Weapons System in collaboration with EOS is a
major step forward for Metal Storm.

-- Starchase

There has recently been some publicity regarding the 'Starchase' vehicle
tagging and tracking technology being developed by an independent company
in the US.

crappy goggle

The C3 is a pump-action marker powered through a portable propane
canister, the same as those commonly used in camping equipment and handheld
tools.uniteddefense .

More detail and photographs are included later in this update.
(Click here for details )
conventional High Velocity 40mm Grenade
Machine Gun with Metal Storm Low Velocity
40mm Grenade Launchers on display at the
Asian Aerospace Exhibition in Singapore,
February 2006.

Whilst we have up to two years to complete the contract we have set
ourselves an objective to have it finished much earlier if possible.

tripmines cannons

Munitions Development

We have two parallel efforts that are focused on developing a range of
munitions for use with Metal Storm 40mm weapons in collaboration with-ST
Kinetics and ARDEC.

Feedback from visitors to the exhibition in Singapore this week has been
very positive and we have received a number of enquiries from military
customers interested in a variety of potential applications and
specifications to suit their purposes. It also allows us to begin to develop a line of specialised
less-lethal munitions for the US Army.

Metal Storm has contributed to the current design of the launching system
and there is potential to utilise Metal Storm technology in future designs
if a commercial agreement is reached with Starchase.

Safe Harbour

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.

captioned playin

This does not rule out the development of completely new munitions as well,
but clearly these will take longer to get to market. Law enforcement agencies and
military forces are in great need of less-lethal capabilities and this is
an excellent opportunity where we can demonstrate the versatility and
functionality of Metal Storm's technology in both military and non-military
applications.

speedball grenades

Propane Technology Opens Paintball to New Players

Work
on the contract will be done at United Defense facilities in Aiken , SC
and York and Fayette County, Pa.

We have several systems on display, including:

-- the Redback light weight/high speed weapon system which was unveiled
on Tuesday.
This will provide a lot of versatility to the user as well as significantly
increased firepower compared to the M203.

I am very pleased with our progress and I believe 2006 will be a pivotal
year for our company.

captioned tripmines

Business Editors/Defense Writers

YORK, Pa. We are focusing on the market segments
where we believe the demand exists and where we have competitive advantages
to give ourselves the best opportunity for success. 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.

warzone cooly

The second contract is a $14. These
forward -looking statements involve risks and uncertainties.

This weapon system is designed to be very light and very fast, and to
fulfil a number of urgent operational requirements which rely upon intense
directed firepower for short periods.

coauthored wolfpack

As a result, acceptable refills can be easily obtained in a variety of
retail environments, including gas stations, hardware stores, camping outlets
and "big box" retailers. This effort
runs through June 2006.
The Bradley has played a centerpiece role in Operation Iraqi
Freedom, and in the ongoing Global War on Terror is still providing
outstanding survivability, mobility and lethality to our soldiers in
all types of close combat urban scenarios or in open combat desert
warfare.
I am writing to you from Singapore where your
company is exhibiting some of its 40mm weapons systems together with its
teaming partners, Singapore Technologies Kinetics Ltd (ST Kinetics) and
Electro Optic Systems Holdings Limited (EOS) at the Asian Aerospace and
Defence Technologies Exhibition.

-- two new weapon concepts:

- the "3GL" three shot grenade launcher designed for attachment to
assault rifles; and

- a hybrid weapon which combines 4 Metal Storm barrels with an ST
Kinetics 40mm grenade machine gun mounted in a remotely controlled
weapons station. We believe the significant increase in firepower this offers will
provide a very significant capability advantage in certain situations.

paintball cannons

Founded in 1986 by Dennis Tippmann, Sr.

In the US, in collaboration with ARDEC , the initial phases of testing are
in progress on the development of a range of munitions to be converted from
existing US certified munitions, including High Explosive and other types
of warhead as well as less-lethal rounds.

The weapon is designed to hold up to 3 low velocity 40mm grenades that can
be fired in quick succession without the firer taking his eyes off the
target. We can use our technology for both low
velocity and high velocity. Firing the weapons by electronic ignition requires no moving
parts, allowing reliable long term unattended weapon operation.

411 cooly

newscom.

-- A Phase II SBIR contract award from the US Army for the development
and testing of less -lethal munitions for a Crowd Control System worth
approximately A$975,000.

There is more work to be done in both these munitions development projects
but, all in all, I am delighted with the progress we are making and I am
looking forward to keeping you updated as we continue on. They are not the same
as those used in the Talon firings last year. This is the outcome we were looking
for from the exhibition.

Active Protection System

The US Navy Phase II SBIR contract award which commenced in December 2005
requires us to develop a remotely controlled active protection system that
can be mounted on various Unmanned Ground Vehicles (UGVs).

Dragonfly Pictures

As reported in my last CEO Corner, the UAV demonstration has been subject
to delays at the Prime Contract level.

Metal Storm's weapon technology uses computer-controlled electronic
ignition and a system of stacked projectiles, to achieve a completely
non-mechanical gun that is very lightweight and compact, providing a very
high firepower to weight ratio.

speedball setups

Groundbreaking Product Offers Convenient Way to Discover Exciting, Fast-Paced
Game

BUFFALO GROVE, Ill. Tippmann Sports, the world's leading
manufacturer of high performance paintball markers and related accessories,
has introduced the C3 with PEP Technology, the first-ever marker (paintball
gun) fueled by propane.
A single 16. Tippmann Sports' complete line of paintball
markers and related accessories can be found at paintball stores and fields as
well as mass retail and sporting goods outlets throughout the world. The change order, not-to-exceed $54 million, from
the U.
The change order calls for 120 vehicles to be equipped with all
the features of the A3 configuration with the exception of the
Commander's Independent Viewer, and is initially funded at $27
million . Navy
and other U. Government agencies. This is aimed at achieving two important goals:

- - first, to ensure we have munitions that match the customers
established logistics systems, and

-- second, to minimise the amount of time and cost involved in getting
the munitions certified for use in the field. Test firings are proceeding
according to plan and results will be published in due course, including
arrangements for the planned US demonstrations.

I believe that Redback provides us with an outstanding opportunity to get
Metal Storm product into the battlefield and prove the value of its unique
capabilities.

3GL

The "3GL" grenade launcher which is also being shown at the Asian Aerospace
and Defence Technologies Exhibition in Singapore this week is a concept
weapon designed to compete with the M203 grenade launcher currently in wide
use by law enforcement agencies and military forces around the world. We will continue to review our position and will act on the best
outcome for the company. 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.

tripmines litte

This not only saves players from having to frequently refill their
tanks , but also results in significant savings that will really add up over
time. The company serves the growing paintball industry from its corporate
headquarters in Fort Wayne, Ind. Please refer to the Company's
Annual Report on Form 10 K for the year ended December 31, 2003 and
other reports filed from time to time with the Securities and Exchange
Commission for a further discussion of the factors and risks
associated with our business.

This was done using a specially developed Metal Storm tailpiece
containing the propellant load, electronically initiated primer and
inductive ignition components. This is critical for us to exploit the
versatility and competitive advantages of our weapons.

Metal Storm Crowd Control

The US Army Phase II SBIR contract award which began in January 2006 calls
for the development and testing of a crowd control system using Metal Storm
40mm weapons with less-lethal munitions.

Department of Energy (DOE)

The DOE contract which commenced in October 2005 is well underway and the
Engineering Team is in the process of designing and computer modelling the
specific weapon system that will be used to meet the stringent requirements
of this customer.

cannons sarge

For additional details, including a list of retailers in your area,
please call the company at 1-800-533-4831 or visit Tippmann online at
http://www.----United Defense
Industries , Inc. Vehicle delivery is scheduled to
begin in mid 2006.
Our strategy is to take commercially available off-the-shelf munitions that
have been certified for military use and convert them to Metal Storm
configuration.

Our ability to provide low weight, compact, digitally controlled weapons is
particularly suited to small robotic platforms where low velocity weapons
are required.

spyder litte

The statements in this release are not
guarantees of future performance and actual results could differ
materially from our current expectations. Numerous factors could cause
or contribute to such differences .

We want to be able to offer customers a variety of choices in the munitions
they can use in our weapons systems.) Redback is already capable of
firing converted off-the-shelf ST Kinetics 40mm High Explosive and Airburst
munitions.

crappy playin

com/cgi-bin/prnh/20051020/CGTH010 )
Tippmann developed the C3 because propane is much more accessible and
considerably less expensive than CO2 and nitrogen -- the two gasses currently
used to power paintball markers.
Under the order, United Defense will provide 80 Bradley M2A3
Infantry Fighting Vehicles, 29 Bradley M3A3 Cavalry Fighting Vehicles
and 11 Bradley A3 Fire Support Vehicles (A3 B-FIST) to the Army.
Under the contract modification, United Defense will remove the
Stinger air defense equipment from 88 Bradleys and convert the
vehicles to standard M2A2 ODS infantry fighting vehicles.S. We have also conducted the first design review, which
went very well, and we have received customer authorisation to proceed on
to the next phase of the contract. The
company is headquartered in Brisbane, Australia and incorporated in
Australia , with an office in Arlington, Virginia.

sarge cannons

"
The new C3 with PEP Technology from Tippmann Sports carries a suggested
retail price of $229 and is now available exclusively at paintball specialty
stores.

-- The successful test firing of High Explosive, Enhanced Blast and
Airburst munitions in collaboration with ST Kinetics.

In Singapore last week we successfully fired converted ST Kinetics
munitions with standard High Explosive warheads.

The design also allows for grenade rounds to be loaded one at a time such
that the weapon can be loaded with 1, 2, or 3 rounds depending on the
operator's requirements, and can be loaded or re-loaded a round at a time.

spyder grenades

, Propane, the multi-purpose
gas long popular among campers, backyard entertainers and energy-conscious
consumers across the country, is now adding an exciting new element to the
adrenaline-rushing game of paintball .S. Department of Defense and allies worldwide, and provides
non-nuclear ship repair, modernization and conversion to the U.

-- Appointment to the Metal Storm board of Dr Peter Jonson as a non-
executive director. The system is designed around Metal
Storm's 40mm weapon system and EOS' combat-proven targeting and fire
control system (currently being deployed in Iraq in the highly successful
'CROWS' remotely operated weapon station.

There is more work required to fine-tune the barrel design and make it
production ready, including a rigorous testing program, but we believe this
can be done relatively quickly. This is an
excellent opportunity to display just how suitable our weapon system is for
the "Electronic Battlefield" where virtually everything is remotely
controlled while utilising the "Man in the Loop" concept. These are in both military and non-military
areas and will be advised as and when they are settled.

tuff playin

, as of the
date of the release, and we assume no obligation to update any such
forward looking statements.

A lot of engineering development and fine tuning has gone into the design
and build of the Metal Storm components of Redback.

The answer to this is simple.

We do have high velocity weapons in our strategic plan and we will pursue
those plans in due course.

David Smith
Chief Executive Officer

Notes:
Metal Storm's Australian Stock Exchange trading code: MST
Metal Storm's NASDAQ Small Cap ticker symbol: MTSX

About Metal Storm

Metal Storm Limited (NASDAQ: MTSX) (ASX: MST) is a multi -national defence
technology company engaged in the development of electronically initiated
ballistics systems using its unique "stacked projectile" technology.

marker goggle

---

- - kjjkjk

Loading...

(Note: These pages use the Atlas Content Safeguard System (ACSS) and require that Javascript is enabled for viewing.)