Nestor, Inc.: Grande Prairie, Alberta Signs 5-Year Contract for Automated Red Light Enforcement System
Grande Prairie, Alberta Signs 5-Year Contract for Automated Red Light Enforcement System
PROVIDENCE, RI — (MARKET WIRE) — February 02, 2007 — Nestor, Inc. (NASDAQ: NEST), the parent
ofNestor Traffic Systems, Inc., a leading provider of video-based trafficenforcement solutions, is pleased to announce the City of Grande Prairie,Alberta, Canada has signed a contract with Trafco Canada, Nestor TrafficSystems’ Canadian partner, for automated red light enforcement systems andservices for 22 approaches at 7 intersections in the City. NTS and Trafcowill provide Nestor’s full turnkey CrossingGuard® automated red lightenforcement system and services at those 22 approaches. CrossingGuard®’smultiple, synchronized cameras provide accurate and dependable violationevidence in over 40 cities in North America.
Nestor Chief Executive Officer William B. Danzell commented, “GrandePrairie is home to just over 40,000 residents and is a major hub in theNorth Region of Alberta. We plan to help the City best serve its residentsand guests by providing a traffic safety program that encourages safedriving behavior.”
Gary Roth, Program Manager for the City of Grande Prairie, stated in thenotification letter, “The City is committed to this program and is lookingforward to a long-term relationship with Trafco, in partnership with NestorTraffic Systems.”
Nestor Traffic Systems provides automated traffic enforcement solutions tostate and municipal governments. Nestor Traffic Systems is the exclusiveNorth American distributor for the Vitronic PoliScanSpeed™ scanningLiDAR, capable of tracking multiple vehicles in multiple lanessimultaneously. An industry first, the scanning LiDAR mobile speedenforcement system is an innovative solution for digital speed detectionand image recording. The scanning capability of the PoliscanSpeed systemminimizes the ambiguity and measuring errors associated with conventionalphoto speed enforcement systems. Our CrossingGuard® red light enforcementsystem uses patented multiple, time-synchronized videos to capturecomprehensive evidence of red light and speed violations. In addition,CrossingGuard® offers customers a unique Collision Avoidance™ safetyfeature that can help prevent intersection collisions. CrossingGuard® isa registered trademark of Nestor Traffic Systems, Inc. PoliScanSpeed™is a trademark of Vitronic. For more information, call (401) 274-5658 orvisit 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, are forward-looking statements within themeaning of Section 21E of the Securities Exchange Act of 1934. We may notmeet the expectations disclosed in our forward-looking statements andinvestors should not place undue reliance on those statements. Actualresults may differ materially from those indicated by such forward-lookingstatements as a result of various factors, including: market acceptance ofour products, competition, legal and legislative challenges to automatedtraffic enforcement, and other factors discussed in Risk Factors in ourmost recent Annual Report on Form 10-K and Quarterly Report on Form 10-Qfiled with the SEC. Investors are advised to read Nestor’s Annual Report,quarterly reports on Form 10-Q and current reports on Form 8-K filed afterour most recent annual or quarterly report. The forward-looking statementsin this letter represent our current views and we disclaim any obligationto update these forward-looking statements.
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