ARLINGTON, Va., Aug. 31 /PRNewswire-FirstCall/ -- Metal Storm Limited (Nasdaq: MTSX; ASX trading code: MST) today announced the successful test firing of the Advanced Individual Combat Weapon (AICW) Capability Technology Demonstrator at the Port Wakefield Proof and Experimental Range near Adelaide, Australia. Sponsored by the Capability Development Group of the Australian Department of Defence, and led by the Defence Science and Technology Organization (DSTO), the AICW Capability Technology Demonstrator project includes Metal Storm and Tenix Defence as consortium members. The AICW is an integrated weapon concept which combines a standard 5.56mm Steyr assault rifle and a Metal Storm 40mm grenade launcher in a single unit with a common trigger, laser sight and control system that operates both the 5.56mm and the 40mm barrels. The benched test firing demonstrated the AICW's ability to switch between 5.56mm and 40mm barrels instantly and without reloading. The 40mm barrel incorporates the Metal Storm electronically initiated "stacked munitions" system and can fire three rounds before re-loading is required. The project was designed to evaluate the possible technologies available for the next generation of individual combat weapons, with emphasis on increasing the lethality of the weapon thereby enhancing the soldier's capability and survivability. Conventional 40mm grenade launching systems used with combat weapons are fitted as an add-on component with separate aiming and trigger devices and can only fire single rounds before reloading. The perceived advantage of the AICW concept is that the grenade launcher capability is fully integrated into the one combat weapon, and as it utilizes Metal Storm technology, it can carry up to three rounds in the barrel ready to fire using the integrated common operating systems. The trial firings engaged targets at 100, 200 and 300m, each with three 40mm projectiles, fired at a nominal velocity of 95m/s. In addition, the target at 300m was engaged with the standard 5.56mm rounds that are currently in service. The firings demonstrated the capability of engaging consistently a target the size of a window or doorway at 100m. New technology associated with recoil mitigation, sighting systems, and electronic fire control was also demonstrated. Metal Storm's Chief Executive Officer, Mr David Smith said, "The ability to fire multiple 40mm shots without reloading, from an individual combat weapon, we believe will provide a major capability enhancement compared to existing individual combat weapons. "There has been significant international effort placed on trying to develop a fully integrated individual combat weapon which provides for a 5.56 mm rifle and a grenade launcher system with greater range, improved fire control and at the right weight. AICW is well along the path to achieving all these capabilities. "Our objective now is to build on the success of the AICW Capability Demonstrator project through an industry funded effort to further refine and ultimately commercialize the concept. The next generation will incorporate the latest developments in Metal Storm technology (which has advanced since the AICW program began). Combined with the current development of High Explosive rounds, we are now very close to being able to deliver a much more advanced individual combat weapon that includes all the required capabilities at an appropriate weight level." David Smith stated. Photographic and film images of the AICW will be posted on the Company's website at 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. METAL STORM LIMITED ACN 064 270 006 DATASOURCE: Metal Storm Limited CONTACT: Investor Contact - David Smith, Metal Storm Limited, +1-703-248-8218, ; Media Contact - Stefan Anikewich, Hill & Knowlton, +1-212-885-0505, Web site: http://www.metalstorm.com/

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