Updates

Stinger Systems Names Former Smith & Wesson CEO Roy Cuny President

Press Release Source: Stinger Systems, Inc. CHARLOTTE, N.C., Jan. 10 /PRNewswire-FirstCall/ -- STINGER SYSTEMS, INC. (Pink Sheets: STIY - News) a provider of advanced non-lethal technologies, today announced that Roy C. Cuny, former President and Chief Executive Officer of Smith & Wesson Holding Corporation, has joined Stinger Systems, Inc. as President. Mr. Cuny has also been appointed to the Board of Directors of the Company. "We are thrilled to have Roy take the helm at Stinger Systems," said Robert Gruder, Chairman and CEO. "Roy adds a wealth of industry expertise and management talent to our growing team and his guidance and direction will no doubt prove invaluable as we launch our Stinger line of projectile stun guns. We are truly fortunate to have an executive with his ability and experience in this sector leading our company at this exciting time in our history." With Mr. Cuny's leadership Smith & Wesson grew significantly, and is now the largest manufacturer of handguns in the United States and the largest U.S. exporter of handguns. During Mr. Cuny's tenure, revenues climbed approximately 50 percent from $80.5 Million to $119.5 Million. Gross profits increased almost 100 percent from $19.8 Million to $38.7 Million, and as a percentage of sales have increased from 24.6 percent to 32.4 percent as operational efficiencies were recognized. EBITDA improved from a loss of $2.2 Million in fiscal year 2002 to a gain of $6.4 Million in fiscal year 2004. "I am very pleased to be joining Stinger Systems," said Cuny. "Over the past several months I have had the opportunity to follow Stinger Systems and have been impressed with the Company's technology and the capabilities of the Stinger projectile stun gun. I am confident Stinger Systems is in an excellent position to play a meaningful role in this fast growing market. I very much look forward to bringing competition to the projectile stun marketplace and believe the law enforcement community and the taxpayers will benefit by a truly competitive marketplace." Mr. Cuny served as the President, Chief Executive Officer, and a director of Smith & Wesson Holding Corporation, a leading provider of quality handguns and law enforcement products from December 2003 to November 2004. From December 2002 until November 2004, Mr. Cuny also served as the President and Chief Executive Officer of Smith & Wesson Holding Corporation's wholly owned subsidiary, Smith & Wesson Corp. and was its Vice President of Operations when he joined in October 2002. Mr. Cuny was President from April 2001 to July 2002 and Chief Operating Officer from April 2000 to July 2002 of Peerless Manufacturing Co., an equipment manufacturer based in Dallas, Texas. Mr. Cuny held various responsibilities; including Vice President with Foster Wheeler Corporation, a construction and engineering company, during the 20-year period ended April 2000. Mr. Cuny graduated from Rutgers University with two degrees, one in Mechanical Engineering and one in Business Administration. ABOUT STINGER SYSTEMS Stinger Systems, Inc., a leading provider of stun technologies, develops and sells a broad array of products utilizing advanced electro sparc-pulsed technology to police, prison, and security sectors worldwide. The Company's products include: The Stinger a projectile stun gun that offers greater accuracy and range than other pistol style stun guns and provides the highest target attainment rate in the market through the use of the Company's exclusive QuadraShock technology; BAND-IT(TM) a market leader in electronic restraint used in the transportation and control of potentially dangerous detainees; ULTRON II(TM) a contact stun device for use in hand to hand control situations; and the ICE SHIELD(TM) for use in crowd control and officer protection. The Company has a worldwide user base of 12,000 and over 1,200 instructors certified to train users of Stinger Systems product lines. Stinger stun products are currently in use by hundreds of state and municipal agencies nationwide including the U.S. Dept. of Justice, Federal Bureau of Prisons, and the U.S. Marshals Service. More information about Stinger Systems can be found at: http://www.stingersystems.com . FORWARD-LOOKING STATEMENTS This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding Stinger Systems, Inc. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements. Stinger Systems assumes no obligation to update the information contained in this press release. Source: Stinger Systems, Inc.