Pratt defends cost-cutting measures on F-35 engine

* Pratt says "war on costs" is working

* Sources say added cost linked to overall delay on F-35

Defense News ~ WASHINGTON, March 12 (Reuters) - Pratt & Whitney, a unit of United Technologies Corp (UTX.N), said on Friday its "war on costs" was driving production spending on its F135 engine for the F-35 fighter jet lower and the company had experienced no additional increases in the engine's development program.

A Navy document leaked this week put the total cost of the F135 engine development program at $7.28 billion, $2.5 billion above the $4.8 billion initially projected for the program. That would be $600 million more than the $1.9 billion in cost increases already disclosed on the Pratt engine.

But Pratt spokeswoman Erin Dick said the company had not seen any additional overruns on the program.

"I can unequivocally say that our costs are coming down; that there are currently no additional overruns associated with the development of the F135 engine and the government has expressed confidence in our cost reduction strategy going forward," Dick told Reuters.

The added costs stemmed from a 13-month delay on the overall F-35 development program and Pratt's need for additional flight tests, which would add personnel costs and other overhead, said one source familiar with the program, who was not authorized to speak on the record.

The delay is part of a major restructuring of the Lockheed Martin Corp (LMT.N) F-35 program.

"There is no $600 million surprise or overrun or anything like that in the program at this point," said the source.

Pratt offered the Pentagon an 11 percent reduction in engine cost in its latest contract proposal, with further reductions of around 10 percent due to take effect in each of three following years, which would result in a 40 percent cut in the cost of the production engines, said the source.

Pentagon acquisition chief Ashton Carter had expressed concern about growing costs on the Pratt engine last year, but endorsed Pratt's efforts to cut spending in a memo to F-35 international partners dated Feb. 24.

Carter said a special independent "Joint Assessment Team" concluded projected cost growth on the engine could be reduced significantly by investing in affordability measures and through a renewed commitment by Pratt.

The Navy memo also showed an increase in the cost of a second engine built by General Electric Co (GE.N) and Rolls Royce, which the Pentagon wants to cancel.

The memo put the total cost of the GE-Rolls engine program at $2.1 billion, but did not include any funding for the program in fiscal year 2011.

A recent Pentagon analysis said it would cost $2.9 billion over six years to complete work on the GE-Rolls engine, but GE and Rolls-Royce say they need just $900 million to complete the development program and $400 million more for tooling. (Reporting by Andrea Shalal-Esa; editing by Andre Grenon)

AlarmForce Announces Board of Directors Appointment

Defense News ~ TORONTO, ONTARIO--(Marketwire - 03/12/10) - AlarmForce Industries Inc. (TSX:AF - News) -

AlarmForce Industries Inc. ("AlarmForce" or the "Company") is today pleased to announce that Mr. Pavel Begun of Toronto, Ontario has joined the Board of Directors of AlarmForce.

Mr. Pavel Begun is a managing partner of 3G Capital Management LLC, a global value-oriented investment vehicle that invests in a concentrated portfolio of high-quality publicly-traded businesses. Mr. Begun obtained his Masters of Business Administration from the University of Chicago and in 2002 obtained his Chartered Financial Analyst designation.

Mr. Begun co-founded 3G Capital that since inception in 2004 has generated returns that rank the firm as one of the top-performing investment funds in North America. Prior thereto, he was with Fiduciary Asset Management, an investment management company with over 13 Billion in assets.

"We are very excited and fortunate to have Mr. Begun on our Board, as his experience in the public markets and in-depth knowledge of the security industry will be a valuable asset to the Company", said Mr. Matlin, President and CEO.

AlarmForce provides security and personal emergency response monitoring and related services to residential and commercial subscribers throughout Canada and selected centers across the United States. The Company is a leading provider of two-way voice alarm systems in Canada and sole provider of AlarmPlus, a wireless line-cut protection system. More information about the Company's products and services can be found atwww.Alarmforce.com.

Contact:

 
Contacts:
AlarmForce Industries Inc.
Investors Relations Department
416-445-2001 ext#225
416-445-9381 (FAX)
investorrelations@alarmforce.com
www.Alarmforce.com

SBA Forms Strategic Alliance with the California Disabled Veteran Business Enterprise Alliance

Defense News ~ SAN DIEGO--(BUSINESS WIRE)--The U.S. Small Business Administration’s (SBA) district office in San Diego has signed a strategic alliance with the California Disabled Veteran Business Enterprise Alliance, pledging to work together to improve business access to technological information through educational opportunities and SBA resources while also providing maximum financial opportunities and training to entrepreneurs. The agreement was signed by SBA District Director Ruben Garcia and Alliance President Robert Brown.

“Having the SBA as a strategic partner extends the existing relationship between the Alliance and the SBA,” said Brown. “The agreement strengthens the Alliance’s role in promoting the local veteran business community and our ability to offer one-on-one counseling, roundtable discussions, networking events, and other resources to entrepreneurs throughout the region.”

The California Disabled Veteran Business Enterprise Alliance is a 501 C 3 non-profit corporation that supports the California Disabled Veteran Business Enterprise (DVBE) Program in finding employment for veterans. Additionally, the Alliance is involved in supporting veterans interested in pursuing small business ownership as a method of securing a strong economic future as they transition from a military to civilian livelihood. The Alliance leadership includes a board of directors, an executive officer and the officers of statewide chapters. The SBA-Strategic Alliance memorandum applies to both the California Disabled Veteran Business Enterprise Alliance and its chapters.

Veterans compose about 17 percent of all small business owners nationwide and veteran-owned firms tend to stay in business longer than non veteran-owned companies, according to SBA’s Office of Advocacy.

To learn more about the SBA, call 619-727-4883 or visit www.sba.gov/ca/sandiego. To find out more about the California Disabled Veteran Business Enterprise Alliance call 916-446-3510 or visit www.cadvbe.org.

Release Number: 10-08

Contact:

U.S. Small Business Administration (SBA)
Cynthia Harris, 619-727-4884

Internet Address:
http://www.sba.gov/localresources/district/ca/sandiego/news/index.html

US arms buyer rejects protectionism charge

*"No protectionism going on," Pentagon official says

* Pentagon says values European industrial contribution

* US may extend tanker bidding deadline, source says

* Kansas lawmakers reject any move to extend deadline

By Jim Wolf

Defense News ~ WASHINGTON, March 12 (Reuters) - The top U.S. arms buyer said no protectionism was involved in the potential $50 billion refueling-aircraft competition that Europe's EADS (EAD.PA) quit this week along with Northrop Grumman Corp (NOC.N).

A Boeing [NYSE: BA] KC-767 Tanker aircrew transfers fuel to the first F-15E ever produced. The company uses F-15E1 under a cooperative research and development agreement with the U.S. Air Force.

"We value the contribution of the European industry to the choices we can make as a department," Ashton Carter, under secretary of defense for acquisition, told reporters at the Pentagon.

"There is no protectionism going on and so forth. It's important to us. The wider technology base and the wider industrial base is good for the Department of Defense," he said.

EADS' and Northrop's boycott left Chicago-based Boeing Co (BA.N) the sole remaining bidder to start building a new fleet of U.S. Air Force tankers, which are used to refuel other planes in mid-air.

In withdrawing Monday from what was to have been a rematch, Airbus's corporate parent EADS and Northrop complained that the bidding rules were skewed to favor Boeing, a charge that several European leaders echoed.

The United States may extend the deadline for bids to build the new fleet to give EADS more time to weigh other options for vying against Boeing (BA.N), a source familiar with the Pentagon's thinking said.

Asked at the briefing if the deadline might be extended, Carter gave no answer.

"I don't have anything for you today" about the tanker contest, he said moments earlier.

Northrop and EADS won a previous competition in February 2008 with a bigger plane based on the Airbus A330. But the Pentagon canceled that deal after government auditors upheld a Boeing protest on grounds the Air Force had failed to apply its own judging rules.

Northrop said it would not protest the final bidding specifications to avoid any further delay in replacement of the current fleet of nearly 50-year-old KC-135 tankers, although it felt it had "substantial grounds."

That leaves Boeing positioned to build up to 179 tankers based on its 767 airliner over the coming 18 years and could help position the company to bid for follow-on orders that could bring the total fleet value to $100 billion or more.

Leading California Security Firm Adds Business Security Management to its Offerings

Spear Security, California's number one name in security, is offering top notch business security management as a service

Defense News ~ LOS ANGELES, March 12 /PRNewswire/ -- For businesses who require security services, California's number one security management firm is just the company to call. For more than a decade, Spear Security has been providing top notch security management to their clients across the state. With offices located in both Northern and Southern California, Spear Security has a massive statewide presence that is ideal for clients with multiple homes, offices or stores. Now, thanks to Spear Security's Business Security Managementservice, businesses across the state have a professional, experienced ally to rely on for all of their security needs.

Spear Security is a trusted name is Business Security Management for a number of reasons, such as their quality staff, years of experience, proven track record, and wealth of security knowledge and capabilities. Spear Security provides business security management services for shopping malls, hospitals,construction sites, hotels, and other high profile clients. Their Business Security Management Services run the gamut from personal security guards to theft prevention from night patrol, and every business security management package can be customized to the client's needs. For businesses with retail space, merchandise, building materials or expensive supplies, business security management services are a critical loss-prevention tool.

Spear Security's business security management team has found that their employment both dissuades would-be criminals from attempting theft as well as prevents criminals from getting away with the client's valuable business assets. Thieves are often familiar with the business's inventory or supplies, and know which items are valuable if stolen. Without a trained security guard on site, a thief can be in and out with stolen merchandise much faster than the amount of time it takes for the police to arrive on scene. By the time police arrive, it is usually far too late to stop the crime or retrieve the stolen goods. For a security solution that prevents crime before it happens, Spear Security's business security management is a smart choice.

For more information please call (323) 962-7515 or visit http://www.spearsecurity.com

DTN News: U.S. Department of Defense Contracts Dated March 12, 2010

Defense News ~
Source: U.S. DoD issued March 12, 2010
(NSI News Source Info) WASHINGTON - March 13, 2010: U.S. Department of Defense, Office of the Assistant Secretary of Defense (Public Affairs) Contracts issued March 12, 2010 are undermentioned;
CONTRACTS

NAVY
~LPI Technical Services*, Chesapeake, Va., is being awarded a $84,140,685 cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract to furnish repair, maintenance, modernization, logistical, and technical support services for material handling equipment (yellow gear) and hull, mechanical, and electric machinery and systems in order to ensure continued ship operation and performance. Work will be performed in Norfolk, Va. (25 percent); Chesapeake, Va. (15 percent); Mayport, Fla. (15 percent); Bremerton, Wash. (10 percent); San Diego (5 percent); Philadelphia (5 percent); Ingleside, Texas (5 percent); Naples, Italy (5 percent); Earle, N.J. (5 percent); Pascagoula, Miss. (5 percent); and Virginia Beach, Va. (5 percent). Work is expected to be completed by March 2015. Contract funds will not expire at the end of the fiscal year. This contract was competitively procured via Federal Business Opportunities Web site, with one offer received. The Naval Surface Warfare Center, Carderock Division, Ship System Engineering Station, Philadelphia, is the contracting activity (N65540-10-D-0010).
~KOR Electronics*, Cypress, Calif., is being awarded a $44,444,241 firm-fixed-price, indefinite-delivery/indefinite-quantity time-and-material contract for the procurement of up to 200 production miniaturized I/J band digital radio frequency modulators (DRFM) for the Navy and Air Force. DRFMs are installed in systems that are used to evaluate U.S. weapons systems and train fleet operators. In addition, this contract provides for one lot of engineering, technical, and repair services in support of the Navy/Air Force Airborne Threat Simulation Organization. Work will be performed in Cypress, Calif., and is expected to be completed in March 2015. Contract funds will not expire at the end of the current fiscal year. This contract was competitively procured via an electronic request for proposals as a 100 percent small business set-aside; two offers were received. The Naval Air Warfare Center Weapons Division, China Lake, Calif., is the contracting activity (N68936-10-D-0022).
~BAE Systems Land & Armaments, LP, Ground Systems Division, York, Pa., is being awarded a $44,116,706 modification to previously awarded delivery order #0011 under firm-fixed-priced contract (M67854-07-D-5025) for field service representatives and instructors to provide support, inside and outside the continental United States, for the Mine Resistant Ambush Protected vehicles. Work will be performed in York, Pa., and is expected to be completed by December 2010. Contract funds in the amount of $44,116,706 will expire at the end of the current fiscal year. The Marine Corps Systems Command, Quantico, Va., is the contracting activity.
~DDL Omni Engineering, McLean, Va. (N66604-10-D-003A), and

~General Dynamics Information Technology, Fairfax, Va. (N66604-10-D-003B), are each being awarded an indefinite-delivery/indefinite-quantity cost-plus-fixed fee multiple-award contract for engineering services in support of the Intelligence, Surveillance and Reconnaissance (ISR) program. The dollar value for both contracts combined is $16,139,998; DDL Omni Engineering is being awarded $8, 482,108 and General Dynamics is being awarded $7,657,890. Efforts will include planning; development of alteration plans and procedures; assembly; fabrication; installation; testing; refurbishment; and repair of ISR systems and equipment aboard Navy submarines. Work will be performed in Newport, R.I. (50 percent), and Pawcatuck, Conn. (50 percent), and is expected to be completed by March 2015. Contract funds in the amount of $35,000 will expire at the end of the current fiscal year. These contracts were competitively procured via Navy Electronic Commerce Online Web site, with six offers received. The Naval Undersea Warfare Center Division, Newport, R.I., is the contracting activity.
~Marvin Engineering Co., Inc.*, Inglewood, Calif., is being awarded an $11,717,049 modification to previously awarded firm-fixed-price, indefinite-delivery/ indefinite-quantity contract (N00019-08-D-0012) for the procurement of 377 LAU-7F/A missile launchers for the Navy. Work will be performed in Inglewood, Calif., and is expected to be completed in October 2012. Contract funds will not expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Md., is the contracting activity.
~KITCO/kSARIA, LLC*, Virginia Beach, Va., is being awarded a $9,799,727 cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract for CVN-78’s automated fiber optic manufacturing initiative (AFOMI). The AFOMI is intended to mature fiber optic cable termination technologies, specifically focusing on automation and miniaturization. This contract promotes CVN-78 carrier program’s goal to establish a manufacturing line to produce products developed through this initiative. CVN-78’s goal is to drive lifetime fiber optic component manufacturing and repair costs down by miniaturizing and automating as many processes as possible. Work will be performed in Lawrence, Mass. (90 percent), and Virginia Beach, Va. (10 percent), and is expected to be completed in March 2015. Contract funds in the amount of $1,471,982 will expire at the end of the current fiscal year. This contract was competitively procured via the Naval Electronics Commerce Online and Federal Business Opportunities Web sites, with two offers received. The Naval Surface Warfare Center, Dahlgren Division, Dahlgren, Va., is the contracting activity (N00178-10-D-2003).
~Marotta Controls, Inc.*, Montville, N.J., is being awarded a $6,210,698 modification to a previously awarded firm-fixed price, indefinite-delivery/indefinite-quantity contract (N00019-06-D-0021) for the production of 377 pure air generating systems for integration into the LAU-7F/A missile launcher, for cooling of the AIM missile. Work will be performed in Montville, N.J., and is expected to be completed in October 2011. Contract funds will not expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Md., is the contracting activity.
DEFENSE LOGISTICS AGENCY
~Petro Star*, Anchorage, Alaska, is being awarded a maximum $10,828,604 fixed-price with economic price adjustment contract for fuel. Other location of performance is in Anchorage, Alaska. Using services are Army, Navy, Air Force, Marine Corps and federal civilian agencies. There were originally four proposals solicited with four responses. Contract funds will not expire at the end of the current fiscal year. The date of performance completion is March 31, 2014. The Defense Energy Support Center, Fort Belvoir, Va., is the contracting activity (SP0600-10-D-0028).

~Freeman Holdings of California, dba Million Air Victorville*, Topeka, Kan., is being awarded a maximum $9,548,338 fixed-price with economic price adjustment contract for fuel. Other location of performance is California. Using services are Army, Navy and Air Force. There were originally two proposals solicited with two responses. Contract funds will not expire at the end of the current fiscal year. The date of performance completion is March 31, 2014. The Defense Energy Support Center, Fort Belvoir, Va., is the contracting activity (SP0600-10-D-0032).
*Small business

DTN News: Putin Visit Seals Russian Arms, Nuclear Deals With India

Defense News ~ Source: DTN News / AFP By Anna Smolchenko
(NSI News Source Info) NEW DELHI, India - March 13, 2010: Russian Prime Minister Vladimir Putin sealed a visit to India Friday with a raft of multi-billion-dollar arms and energy deals, including the construction of 16 Russian nuclear reactors.
The two countries also signed agreements for the long-awaited sale to India of a refitted Soviet-era aircraft carrier as well as 29 MiG fighter jets, further cementing Moscow's role as New Delhi's principal arms provider.
Energy-hungry India is one of the world's biggest markets for nuclear technology and the reactor deal is a triumph for Russia's state atomic agency Rosatom which faces stiff competition from French and US rivals.
While welcoming the deals, Putin stressed that the two Cold War allies were still short of realising the potential of their partnership, one half of the powerful four-strong group of emerging nations that includes China and Brazil.
"The level of our capabilities has not been reached," he said following talks with Indian Premier Manmohan Singh.
Singh hailed the meeting with Russia -- a "trusted and reliable strategic partner" and a "pillar of our foreign policy" -- and pointed to the "rich and very substantive" agreements signed in nuclear energy, defence, space and other sectors.
Russian Deputy Prime Minister Sergei Ivanov said the reactor agreement covered the construction of "up to 16 nuclear energy units" at three Indian sites.
Earlier, Sergei Kiriyenko, the head of Russia's state atomic agency said six of the reactors would be built by 2017.
Two units are already under construction in the southern Indian state of Tamil Nadu and Russia won a deal to build four more in 2008. It was unclear if the 16 reactors referred to by Ivanov included these six.
The accord on the aircraft carrier, the Admiral Gorshkov, marks the end of a lengthy purchase process that was marred by a series of price disputes and delayed deliveries.
Ivanov said the ship would be delivered by the end of 2012. The final cost was not revealed, although experts believe it to be around 2.3 billion dollars.
Russia supplies 70 percent of India's military hardware but in recent years New Delhi has looked to other suppliers including Israel and the United States.
Mikhail Pogosyan, the general director of Russian plane maker Sukhoi as well as the unit that manufactures MiGs estimated the value of the MiG-29K fighter deal at around 1.5 billion dollars. The strong ties between Moscow and New Delhi date back to the 1950s after the death of Stalin. But India has in recent years also taken care to balance this friendship by fostering closer relations with Washington.
In a live webcast interaction with Indian businessmen, Putin said it was time for the old Cold War allies to boost trade beyond the limited scope of defence.
At just over 7.5 billion dollars in 2009, bilateral trade turnover is miniscule and the two countries aim to lift it to 20 billion dollars by 2015.
"There is the political will on both sides, but we need support from the captains of industry," Putin said.
"Cooperation in hi-tech is the priority for us," he added. "The Russian government is ready to directly support this activity, with the help of additional financial assistance, if need be."
On security issues, Putin highlighted the presence of militant outfits operating along the Afghanistan-Pakistan border, saying they were cause for concern not just to Russia and India but the entire region.
Putin also reassured that Russia had prioritised its military relations with India over rival Pakistan, with which New Delhi has fought three wars since 1947.
In the space realm, Russia agreed to help put an Indian into space in 2015 -- the target date for India's first manned space mission.

DTN News: Russia To Build Up To 16 Nuclear Reactors In India

Defense News ~

Source: DTN News / AFP

(NSI News Source Info) NEW DELHI, India - March 13, 2010: Russia and India signed an agreement Friday for the construction of as many as 16 Russian nuclear reactors at three different sites in India, Deputy Prime Minister Sergei Ivanov said.
The agreement "foresees the construction of up to 16 nuclear energy units at three sites in the future," Ivanov told reporters on the sidelines of talks between Russian Prime Minister Vladimir Putin and his Indian counterpart, Manmohan Singh.
Earlier, Sergei Kiriyenko, the head of Russia's state atomic agency, said six of the reactors would be built by 2017
Russia is already constructing two nuclear power units in the southern Indian state of Tamil Nadu.
Earlier Friday, Putin described nuclear energy as one of the "most important and promising areas of cooperation" between Russia and India.
He also acknowledged growing competition after India sealed a landmark deal with the United States in 2008 that allowed India access to civilian nuclear energy despite its refusal to sign the Non-Proliferation Treaty.

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United Tech ready to fly solo with new engine

Defense News ~ NEW YORK, March 12 (Reuters) - United Technologies Corp (UTX.N) is prepared to sell its forthcoming geared turbofan aircraft engine without the support of its joint-venture partner Rolls-Royce Plc (RR.L), executives said on Friday.

United Tech's Pratt & Whitney unit is open to working with Rolls-Royce on the engine but is ready to go it alone, said David Hess, the unit's president.

"We're not waiting. We're offering out engines to Airbus and Boeing (Co (BA.N))," Hess told investors in New York. "We're not afraid of going it alone."

The geared turbofan engine is substantially more fuel efficient than current jet engines, Pratt officials said.

Airbus is a unit of EADS (EAD.PA).

Earlier on Friday, the diversified U.S. manufacturer confirmed its 2010 profit forecast. [ID:N12123412] (Reporting by Scott Malone, editing by Gerald E. McCormick)

DTN News: The Forbes Rich List 2010 / Mexico's Carlos Slim Overtakes Gates In World Rich List

Source: DTN News / Forbes Magazine

Defense News ~ (NSI News Source Info) TORONTO, Canada - March 11, 2010: Mexican telecom giant Carlos Slim has topped Forbes magazine's billionaire's list - the first time since 1994 that an American has not led the rankings.
Mr Slim's fortune rose by $18.5bn (£12.4bn) last year to $53.5bn.
That beat Microsoft founder Bill Gates ($53bn) into second place, with US investor Warren Buffet ($43bn) third. In 2009 332 names left the list after a tough year, but the total number of billionaires on this year's list rose from 793 to 1,011, Forbes said.
A spokesman for Carlos Slim refused to confirm the Forbes estimate of the Mexican tycoon's wealth, saying they did not "waste their time" on such calculations, but he welcomed the result.
"We are pleased that he's been considered the best businessman of the world," spokesman Arturo Elias told the BBC. "It means there is trust among the investors."
The year's biggest gainer, Brazilian mining tycoon Eike Batista, broke into the top 10 for the first time.
He came in at number seven, having boosting his wealth by $19.5bn to $27bn.

Mexican tycoon Carlos Slim is the new richest person in the world, knocking Microsoft founder Bill Gates into second spot, Forbes said on Wednesday.
It is only the second time since 1995 that Gates has lost the crown, said the magazine.
Here is Forbes ranking of the 20 richest people in the world:
1. Carlos Slim (Mexico) - $US53.5 billion, telecommunications
2. Bill Gates (USA) - $US53 billion, Microsoft
3. Warren Buffett (USA) - $US47 billion, Berkshire Hathaway
4. Mukesh Ambani (India) - $US29 billion, petrochemicals, oil and gas
5. Lakshmi Mittal (India) - $US28.7 billion, steel
6. Larry Ellison (USA) - $US28 billion, Oracle
7. Bernard Arnault (France) - $US27.5 billion, LVMH
8. Eike Batista (Brazil) - $US27 billion, mining, oil
9. Amancio Ortega (Spain) - $US25 billion, retail
10. Karl Albrecht (Germany) - $US23.5 billion, supermarkets
11. Ingvar Kamprad & family (Sweden) - $US23 billion, Ikea
12. Christy Walton & family (USA) - $US22.5 billion, Walmart
13. Stefan Persson (Sweden) - $US22.4 billion, Hennes & Mauritz
14. Li Ka-shing (Hong Kong) - $US21 billion, diversified
15. Jim Walton (USA) - $US20.7 billion, Walmart
16. Alice Walton (USA) - $US20.6 billion, Walmart
17. Liliane Bettencourt (France) - $US20 billion, L'Oreal
18. S. Robson Walton (USA) - $US19.8 billion, Walmart
19. Prince Alwaleed Bin Talal Alsaud (Saudi Arabia) - $US19.4 billion, investments
20. David Thomson & family (Canada) - $US19 billion, news and information company Thomson Reuters
The full Forbes ranking of the world's billionaires can be seen atwww.forbes.com/billionaires.

Defense News ~ DRAPER, Utah--(BUSINESS WIRE)--Flexpoint Sensor Systems, Inc. (OTCBB: FLXT - News) http://www.flexpoint.com today announced that they are working with additional contractors in the airline industry who contacted Flexpoint on additional airline applications utilizing its patented Bend Sensor^® technology. The US airline industry includes about 500 companies with combined annual revenues in excess of $250 billion.

The Company has completed initial development of a seat impact detection sensor for aircraft and sensors have been sent to the contractor and are currently undergoing further testing. The Company is also working with contractors for the development and use of sensors in another application on interior systems for commercial airplanes. With these new applications the Company is now involved in applications ranging from sensors in hydraulic systems to internal safety systems. In January of this year, the Company announced they are working with a major airline manufacturer in the development of a “poppet valve” to be utilized in the hydraulic systems of aircraft and that the company is also working with the manufacturer of aircraft flight simulators on the incorporation of a Bend Sensor^® as a Passenger Presence Detection device in simulators used for pilot training.

Clark Mower, President of Flexpoint Sensor Systems, stated, “We are pleased to announce that we are working with new potential customers who are contractors and suppliers currently providing parts and products to the airline industry. We continue to receive confirmation of the applicability of our technology into a variety of industries and these additional applications of our technology are both similar to, and yet uniquely different from, other applications. Both applications have the potential of being placed in multiple locations throughout the aircraft and have the capability of being utilized in both new aircraft and potentially as a retrofit replacement or additional application in existing aircraft. We anticipate some of these developed applications being utilized in the next 6-12 months. There are tens of thousands of airplanes in the US alone."

Forward-Looking Statements

This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

Contact:

Flexpoint Sensor Systems
Clark Mower, President, 801-568-5111

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New 3G/4 Model Ordered by Distributors in Belgium, the Netherlands and the U.K.

Defense News ~ NEW YORK, NY--(Marketwire - 03/11/10) - IDO Security Ltd. (OTC.BB:IDOI - News), developer of the innovative MagShoe™ shoe scanning device (SSD), today announced that the new, state-of-the-art MagShoe™ 3G/4 model has been ordered by its distributors in Belgium, the Netherlands and the U.K.

"The new 3G/4 model of the MagShoe™, recently showcased at the 2010 SICUR International Security Safety Exhibition in Madrid, Spain, conforms to all detection requirements and provisions of the EU regarding Airport and Aviation Security. Together with the increased height detection, the new MagShoe™ has garnered a great deal of interest from European authorities," said Dani Werber, International Marketing Manager of IDO Security Ltd.

MagShoe™ addresses a key vulnerability in walkthrough metal detectors and other screening technologies. These technologies stop just above the ankles when scanning for concealed weapons. MagShoe™, a portable, user-friendly device, extends metal detection to include the lower extremities, now covers everything from eighteen inches to the bottoms of the feet -- without requiring passengers to remove their shoes, thanks to a patented "step-on" design.

"We are extremely pleased with the reception our 3G/4 model has received in the European security market," said Henry Shabat, Manager of IDO Security Ltd. "Based on the initial response from our client and distributor base, we fully expect to have further announcements regarding additional clients in the very near future."

Click here to view Social Media version of this release.

Click here to visit the IDO Security Social Media Newsroom.

About IDO Security:
Headquartered in New York with a subsidiary in Israel, IDO Security designs, develops and markets the patented, UL-certified MagShoe™ weapons metal detection system. MagShoe™ fills a critical void in today's metal detectors by extending screening to the lower body and feet. MagShoe's unique "shoes-on" design maximizes security, thoroughness and accuracy while eliminating the need to remove shoes for increased convenience and safety. Ideal for security and loss prevention at virtually any facility, MagShoe™ is currently in use at international airports, cruise lines, government agencies, prisons and more.http://www.idosecurityinc.com

Forward-Looking Statements:

This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based upon our current expectations about future events. These forward looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed as a result of a number of factors, including but no limited to, the sufficiency of existing capital resources, uncertainties related to the development of IDO's business plan, the ability to secure additional sources of financing, general economic conditions, the availability of competing products and the ultimate market acceptance of our products, changes in technology, legislative or regulatory changes that affect us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of IDO's Annual Report on Form 10-K for the year ended December 31, 2008, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.

Contact:

 
COMPANY CONTACT:
Michael Goldberg
646-214-1234
Email Contact: Email Contact
MEDIA CONTACT:
Mike Elliott
Email Contact: Email Contact 

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WASHINGTON, March 11 (Reuters) - President Barack Obama, anxious to spur growth and tackle unemployment, will name two top executives from Boeing and

Defense News ~ WASHINGTON, March 11 (Reuters) - President Barack Obama, anxious to spur growth and tackle unemployment, will name two top executives from Boeing and Xerox on Thursday to spearhead his drive to boost U.S. exports, the White House said.

Obama, who pledged in his State of the Union address to double U.S. exports over five years to support 2 million jobs, will make the announcement in Washington when he speaks to the Export-Import Bank's annual conference on his trade strategy.

A White House official said Obama would name Boeing Co (BA.N) president and chief executive Jim McNerney and Xerox Co (XRX.N) chief executive Ursula Burns to lead the President's Export Council.

Founded in 1973 by former President Richard Nixon, the council is a key forum for the private sector to communicate its trade views to the U.S. administration.

Obama will also create a new Export Promotion Cabinet, drawn from government departments including Treasury, State, Commerce and Agriculture in support of his efforts, the White House said.

Trade is a central part of Obama's drive of shift Americans away from an over-reliance on borrowing and consumption, replacing those sources of economic activity with investment and greater exports to the rest of the world.

Exports could help the United States recover from the worst recession in 50 years, caused by the collapse of the country's housing market, and unemployment at a towering 9.7 percent.

But critics say Obama has not backed up his words with action to advance free trade agreements with Panama, Colombia, and South Korea, and they are sceptical that his top-down initiatives to lift exports will deliver results.

"Beyond another bureaucratic incarnation -- in the form of a new "Export Promotion Cabinet" -- the details for achieving that growth in exports are missing," Republican Senator Chuck Grassley said in congressional testimony last week during hearings on Obama's 2010 trade agenda.

Some members of Obama's Democratic Party are hostile to further trade deregulation and blame deals done in the past for costing American jobs.

Obama's Thursday export speech will be followed on Monday by the first round of talks on the Trans-Pacific Partnership in Melbourne. Obama has said the TPP will set the standard for future U.S. trade deals, with greater protection for workers and the environment than was previously the case. (Additional reporting by Doug Palmer; Editing by John O'Callaghan)