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EOIR Technologies Inc. Awarded New Engineering Support Contract

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ProfitScout   Wednesday, 09/28/05 08:54:15 AM
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EOIR Technologies Inc. Awarded New Engineering Support Contract by US Navy; Contract Has Potential Value of $14M in Revenue

BOSTON, Sep 28, 2005 (BUSINESS WIRE) -- Markland Technologies, Inc. (OTC BB:MRKL.OB) and Technest Holdings, Inc. (OTC BB:TCNH.OB), defense and homeland security companies transforming advanced laboratory technology into real-world products, announced today that subsidiary EOIR Technologies Inc. has been awarded a contract by the US Naval Surface Warfare Center Dahlgren Division (NSWCDD) to provide system design, engineering support and systems integration for a new land-based vehicle to be used by the US Marines. Dr. Joe Mackin, President of Technest Holdings, made the announcement.

NSWCDD is one of the U.S. Navy's principal research, development and fleet support organizations. The Division conducts analysis, systems engineering, research, test and integration of naval and joint warfare systems.

The award is the second made to EOIR Technologies Inc. in support of the NSWCDD mission. The contract has a potential award ceiling of $14.4M, with an initial funding of $1.9M. The contract performance period is 18 months.

EOIR Technologies, Inc. has been providing innovative sensor engineering products and services to customers within the Department of Defense for nearly twenty five years.

About Markland Technologies

Markland Technologies, Inc. is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. The Company is engaged in the identification of advanced technologies currently under development in laboratories, universities and in private industry, and in the transformation of those technologies into next-generation products. Markland's solutions support military, law enforcement and homeland security personnel to protect the nation's citizens, borders and critical infrastructure assets from the threat of terrorism and other dangers. Through strategic development, Markland focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields. The Company is a Board Member of the Homeland Security Industries Association, and is a featured Company on HomelandDefenseStocks.com; additional details can be viewed at http://www.homelanddefensestocks.com/Companies/MarklandTech. For more information about the Company and its products, please visit the Markland home page at http://www.marklandtech.com.

About Technest Holdings, Inc.

Technest Holdings, Inc. (OTC BB:TCNH.OB), is a provider of intelligent surveillance and advanced 3D imaging technology solutions to the defense and homeland security marketplaces. Technest is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. Technest's solutions support military, law enforcement and homeland security personnel. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields.

"Forward-Looking Statements"

Investors are cautioned that certain statements contained in this press release as well as some statements in periodic press releases and some oral statements of Markland Technologies officers and directors during presentations about Markland Technologies, are ``forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the ``Act''). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' ``believes,'' ``estimates,'' or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Markland Technologies, its products, economic and market factors and the industries in which Markland Technologies does business, among other things. These statements are not guarantees of future performance and Markland Technologies has no specific intention to update these statements. More detailed information about those factors is contained in Markland Technologies filings with the Securities and Exchange Commission.

Markland Technologies, Inc. is a featured Company on http://www.HomelandDefenseStocks.com, a service for which Markland compensates the provider.

For full details, click here: http://www.homelanddefensestocks.com/Companies/MarklandTech/ Default.asp (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

SOURCE: Markland Technologies, Inc.

Technest Holdings
Dr. Joe Mackin, 203-894-9700
markland@marklandtech.com


Copyright Business Wire 2005




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