Nestor, Inc.: Blackstone, Massachusetts Signs 3-Year, Multi-System Automated Traffic Enforcement Contract With Nestor Traffic Systems, Inc.
Blackstone, Massachusetts Signs 3-Year, Multi-System Automated Traffic Enforcement Contract With Nestor Traffic Systems, Inc.The First Program to Provide for Automated Red Light and Fixed & Mobile Speed Enforcement in New England PROVIDENCE, RI — (MARKET WIRE) — December 14, 2006
– Nestor, Inc. (NASDAQ: NEST), the parentcompany of Providence-based Nestor Traffic Systems, Inc. (NTS), a leadingprovider of advanced traffic enforcement solutions, is pleased to announcethat the Town of Blackstone, Massachusetts entered a contract with NTS forthe provision of automated traffic enforcement systems and services. Thecontract calls for NTS to install, maintain and operate theCrossingGuard® automated red light camera system at three approaches.Two fixed speed enforcement units and two mobile speed enforcement unitswill also be provided under the new contract. The term of the contract isthree years.
Mr. William Danzell, Chief Executive Officer of Nestor Traffic Systems,stated, “We will assist the Town in providing a top-notch safety programthat addresses the unique traffic demands of this small and growing town onthe Rhode Island border.”
“Our enforcement tools allow us to offer Blackstone advanced red light andspeed enforcement technology supported from our local office in Providence,Rhode Island. Accurate detection translates to dependable citationissuance and ultimately to improving driver behavior,” added NTS ChiefOperating Officer Todd Eikinas.
Blackstone Chief Ross Astupenas concluded, “By allowing for consistent andreliable enforcement, Nestor’s traffic enforcement systems offer atremendous safety benefit to the Town of Blackstone.”
Massachusetts is the twelfth U.S. state in which NTS has municipalcustomers. With automated photo speed programs operating in 3 cities,under development in another 4 cities and video-based red light programs in33 cities, Nestor Traffic Systems is a leading provider of automatedtraffic enforcement tools in the United States.
Nestor Traffic Systems provides automated traffic enforcement solutions tostate and municipal governments. CrossingGuard® uses patented multiple,time-synchronized videos to capture comprehensive evidence of red light andspeed violations. In addition, CrossingGuard® offers customers a uniqueCollision Avoidance™ safety feature that can help prevent intersectioncollisions. CrossingGuard® is a registered trademark of Nestor TrafficSystems, Inc. Collision Avoidance™ and NTS Video VASCAR™ aretrademarks of Nestor Traffic Systems, Inc. Nestor Traffic Systems is theexclusive North American distributor for Vitronic’s PoliScanSpeed™scanning LiDAR, which tracks multiple vehicles bi-directionally in multiplelanes simultaneously. PoliScanSpeed™ is a trademark of Vitronic. Formore information, call (401) 274-5658 or visit www.nestor.com.
Statements in this press release about future expectations, plans andprospects for Nestor, including statements containing the words “expects,”"will,” and similar expressions, constitute forward-looking statementswithin the meaning of Section 21E of the Securities Exchange Act of 1934.We may not achieve the plans, intentions or expectations disclosed in ourforward-looking statements and investors should not place undue reliance onour forward-looking statements. Actual results may differ materially fromthose indicated by such forward-looking statements as a result of variousfactors, including: market acceptance of our products, our ability tooperate with reduced staff, competition, further approvals of contractedapproaches, legal and legislative challenges to automated trafficenforcement, patent protection of our technology, and other factorsdiscussed in Risk Factors in our most recent Annual Report on Form 10-Kfiled with the SEC. Investors are advised to read Nestor’s Annual Report onForm 10-K, quarterly reports on Form 10-Q and current reports on Form 8-Kfiled after our most recent annual or quarterly report. The forward-lookingstatements included in this press release represent our current views andwe specifically disclaim any obligation to update these forward-lookingstatements in the future.
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