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NEWS RELEASE TRANSMITTED BY Marketwire FOR: Pacific Safety Products Inc.TSX VENTURE SYMBOL: PSP Pacific Safety Products Inc. Signs Exclusive Technology Agreement With Biokinetics Ltd. FEB 5, 2008 - 06:00 ETKELOWNA, BRITISH COLUMBIA--(Marketwire - Feb. 5, 2008) - Pacific Safety Products Inc. (TSX VENTURE:PSP) - PSP today announced the signing of a Technology Agreement with Biokinetics Ltd. for the licensing of technology associated with developing advanced Personal Protective Products for the Military market in the United States. "Over the next 24 months there will be opportunities to compete for improved protection programs in the United States and other allied countries," commented Danny Crossman, VP Defence Systems Division for PSP. "The application of Biokinetics technology and their proven expertise in head trauma and blast protection enhances our capability to compete and win new defence work," continued Crossman. "We look forward to a long and successful relationship with this valued partner." About Biokinetics Since 1975, Biokinetics and Associates Ltd. have delivered engineered solutions for human impact protection in the fields of defence, law enforcement, transportation and sports. Our expertise combines the physical quantification of impact force with a core understanding of the human body's tolerance to injury. Through our expert staff, advanced laboratory test facilities and comprehensive reference materials we continue to develop advanced products and strategies for human protection and injury prevention. Our research varies widely, from ballistic and blast injury to automotive airbag technology to NFL concussion prevention. We have developed and evaluated a vast array of specialized helmets for military, police, industry, and sports applications and design and supply specialized laboratory test gear and actively participate in the development of national and international safety standards for personal protective equipment. Biokinetics designs have achieved several patents and our research is widely published in the scientific literature. Biokinetics is independently owned and operated, and proudly serves a growing customer base of private industry, government, military and research organizations. We are making an impact on safety. About PSP The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safelyTM. PSP is an established industry leader in the production, distribution and sale of high-performance and high-quality safety products for the defence and security market. These products include body armor to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects, and protective products against chemical and biological hazards. PSP is the largest armor manufacturer in Canada, directly supplying the Canadian Department of Defence, Federal Government Agencies and major Canadian law enforcement organizations. The Company also provides specialized law enforcement and safety products through APS Distributors, a wholly-owned subsidiary that services law enforcement and public safety agencies across the country. The Company, through its U.S. subsidiary Sentry Armor Systems Inc., provides body armor products to U.S. based law enforcement and private security firms. The Company also produces tactical clothing and emergency medical kits. Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario, Canada and publicly trades under the symbol PSP on the TSX Venture Exchange. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products. FOR FURTHER INFORMATION PLEASE CONTACT: Pacific Safety Products Inc. David Scott Chief Executive Officer (250) 491-0911 or Pacific Safety Products Inc. Danny Crossman VP Defence Systems Division (613) 623 6001 x. 243 Website: www.pacsafety.com |
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