OTCDD

[xxrayeyes]

HIET (OTCBB) Department of Defense, HiEnergy Technologies Sign Contract
HiEnergy Commences Production of SuperSenzor Landmine Detection Unit For U.S. Army

TUESDAY , JANUARY 21, 2003 08:01 AM

IRVINE, Calif., Jan 21, 2003 /PRNewswire-FirstCall via COMTEX/ -- HiEnergy Technologies, Inc. (OTC Bulletin Board: HIET) today announced that it has successfully concluded contract negotiations with the Department of Defense Small Business Innovation Research ("SBIR") program on a $780,000 contract. The company will be receiving $415,000 in the first year of the contract and expects the U.S. Army to exercise its option for an additional $365,000 for this program in the second year (2004). HiEnergy will use the funding for the production of an anti-tank landmine detection system for the United States Army.

"There is a significant need for HiEnergy's technology to help solve the global landmine problem," said Tom Pascoe, President and CEO of HiEnergy Technologies. "Our technology and capabilities have been effectively demonstrated and we are encouraged that there is a ready market for our product."

The UN estimates that 60-90 million landmines, one for every 50 people on earth, remain buried in more than 60 nations. As a result, a person is killed or injured every 20 minutes. The ratio of new mines being laid to those removed is 25 to 1. The current UN cost estimate for disarming all the active landmines in the world is $30 billion and the time estimates for total clearance range from decades to centuries. The most often quoted statistic, if no new mines are laid, is approximately 150 years.

HiEnergy's patent-pending technology enables remote chemical analysis of a suspected landmine allowing military personnel to accurately determine, from a distance, if there is explosive material in the ground.

"We are very pleased that this project is progressing as expected," said Dr. Bogdan C. Maglich, Chairman and Chief Scientific Officer of HiEnergy Technologies, Inc. "HiEnergy's landmine detection system can dramatically reduce the potential damage caused by landmines to civilians, military personnel and valuable equipment. To the best of our knowledge, the SuperSenzor is the only stoichiometric detection system that can decipher chemical signatures through steel, earth and other barriers."

ABOUT HIENERGY TECHNOLOGIES, INC.

HiEnergy Technologies, Inc. has developed patent pending stoichiometric explosive detection technology that remotely determines the chemical formula of concealed substances, including explosives, biological weapons, and illegal drugs. "Stoichiometric" means detection that deciphers the chemical formula of unknown substances through barriers in a short period of time. The systems HiEnergy is developing have applications in several markets, including airport security screening, bio-weapons detection, landmine detection, and contraband detection, in addition to chemical and petrochemical industry applications. HiEnergy's technology has been developed through several years of research and under grants from the Department of Defense and the US Customs agency. The shares of the company are publicly traded under the symbol HIET.

FORWARD-LOOKING STATEMENT

The matters discussed in this press release may contain "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements can be identified by the use of forward-looking terminology such as "believes," "could," "plans," "expects," "may," "will," "intends," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The safe harbor provisions of Section 21E of the Securities Exchange Act or 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, apply to forward-looking statements made by HiEnergy Technologies, Inc. You should not place undue reliance on forward-looking statements. Forward-looking statements involve risks and uncertainties. The actual results that HiEnergy Technologies, Inc. achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These forward-looking statements are based on current expectations, and HiEnergy Technologies, Inc. assumes no obligation to update this information. Readers are urged to carefully review and consider the various disclosures made by HiEnergy Technologies, Inc. in its reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect its business.

For further information please contact: Media, Carrie Gray of HWH Public Relations, [phone], [e-mail], for HiEnergy Technologies, Inc.; or Investors, HiEnergy Corporate Communications, [phone], [e-mail]

SOURCE HiEnergy Technologies, Inc.



CONTACT: Media, Carrie Gray of HWH Public Relations, [phone],
[e-mail], for HiEnergy Technologies, Inc.; or Investors, HiEnergy
Corporate Communications, [phone], [e-mail]
(HIET)

http://www.prnewswire.com



Copyright (C) 2003 PR Newswire. All rights reserved.



My Homepage
http://www.webspawner.com/users/xxrayeyes/index.html