February 16, 2006
Smith & Wesson Receives $15 Million Order for SW9VE Pistols
from US Army for Afghanistan National Police
SPRINGFIELD, Mass., -- Smith & Wesson Holding Corp. (Amex:
SWB), the legendary 154-year old company in the global business of
safety, security, protection and sport, today announced it has
secured a $15 million order to supply its SW9VE 9mm pistols to the
United States Army Security Assistance Command (USASC) Special
Projects Office for shipment to the Afghanistan National Police (ANP).
In 2005, Smith & Wesson shipped a total of 22,500 pistols for use by
the Afghanistan National Army and the Afghanistan Border Patrol. The
new order represents the fourth contract awarded to Smith & Wesson
by the U.S. Army for security forces in Afghanistan and is more than
twice as large as the combined total of the previous orders, all of
which were shipped in fiscal 2006.
Michael Golden, President and Chief Executive Officer, said, "This
order represents our largest single military contract to date from
the U.S. Army for shipment to Afghanistan. The Smith & Wesson
semi-automatic pistols we shipped last year have been well received
by the Afghanistan National Army and Border Patrol, leading to this
new contract to fill requirements for the Afghanistan National
Police. One of our stated strategies is to become a significant
supplier of high-quality small arms to the military and to the
federal government. We continue to secure orders from the U.S. Army
for Afghanistan, a reflection that we are executing on that
strategy."
Smith & Wesson indicated it won the current order based on the
features of the SW9VE 9mm pistol and overall performance of the
products the Company shipped to Afghanistan throughout 2005. Smith &
Wesson expects the bulk of the order to ship within its 2007 fiscal
year, which begins in May 2006. The pistols will be manufactured
entirely in the United States.
The SW9VE is a double-action-only pistol constructed with a durable
polymer frame and a through-hardened stainless steel slide and
barrel. The 9 mm pistol features an ergonomic design that
accommodates various hand sizes, as well as simple operation
procedures.
About Smith & Wesson
Smith & Wesson Holding Corp., through its subsidiary Smith & Wesson
Corp., is one of the world's largest manufacturers of quality
handguns, law enforcement products and firearm safety/security
products. The Company also provides shooter protection, knives,
apparel, footwear and other accessory lines. The Company is based in
Springfield, Mass., with manufacturing facilities in Springfield and
Houlton, Maine. The Smith & Wesson Academy is America's
longest-running firearms training facility for America's public
servants. For more information, call (800) 331-0852 or log on to
http://www.smith-wesson.com.
Safe Harbor Statement
Certain statements contained in this press release may be deemed to
be forward-looking statements under federal securities laws, and the
Company intends that such forward-looking statements be subject to
the safe-harbor created thereby. Such forward-looking statements
include statements regarding the success of the Company's strategy
to supply its products to the military and the federal government;
the performance and features of the SW9VE; and customer satisfaction
with the product. The Company cautions that these statements are
qualified by important factors that could cause actual results to
differ materially from those reflected by such forward-looking
statements. Such factors include the Company's ability to fulfill
the order in a timely manner; the ability of the Company to
manufacture the pistols in accordance with the order; and other
risks detailed from time to time in the Company's reports filed with
the SEC.
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