Refurbishing Project for the Israeli Ministry of Defense JERICHO, New York, September 21 /PRNewswire-FirstCall/ -- Voice Diary, Inc. (OTCBB: VDYI) announced today that Nir-Or Israel Ltd. ("Nir-Or"), with whom VDYI signed a letter of intent regarding the acquisition of the business of Nir-Or by VDYI, was selected by RADA Electronic Industries Ltd (NASDAQ: RADIF) to develop and manufacture the Control and Display unit (CDU) in a modern avionic system for a trainer jet aircraft to be supplied by RADA to the Israeli Ministry of Defense in a refurbishing project. The order is for $450,000 and is to be completed during 2005. The CDU to be supplied by Nir-Or includes a custom designed display unit for use by the pilot or instructor of the aircraft. It includes a rugged computer and will provide display of vital parameters necessary for flight control arriving from different sources and in different protocols. The order, which is one of several orders for Nir-Or's CDUs, demonstrates the confidence that Israeli aerospace and defense companies have in Nir-Or and its capabilities to develop and deliver airborne CDUs. "We are proud to have been selected by RADA for this important project" said Nathan Tarter, President of Nir-Or, "RADA chose Nir-Or because of our demonstrated ability to provide display systems for aircrafts, as well as naval vessels, tanks and other platforms. Only a few companies around the world have this ability". "We, at RADA, consider Nir-Or to be one of our partners for quality CDUs for our avionics systems and are happy to work together on this important program" said Zvika Alon, RADA's VP Business Development. Nir-Or is an Israeli aerospace and defense company, founded in 1986. The main product lines of Nir-Or include: - Display systems for airborne, naval, and land platforms, for command and control applications in harsh conditions. The displays are for day (full sunlight) and night operations, and they are able to display a variety of data simultaneously, including instruments readings, navigation maps, PC information, and video. Some displays include Nir-Or proprietary digital recorders. The displays are LCD displays and range from 6" to 28" in size. - Control systems for mechanical and optical systems such as a tank gearbox, a tank ammunition system, firing and target acquisition systems, surveillance systems, fuel systems and many others. A recent application was for a firing control system for patrol boats that guard major sea sports events against terrorists. Over the years Nir-Or has developed over 250 systems for its customers. Visit www.nir-or.com for more information. Recent developments Recently VDYI announced that it had received from Natali (the company for emergency medical services in Israel) Ltd. ("Natali") an order to supply to Natali 10,000 units of a 12-lead EKG device embedded in a cellular phone, the CardioGSM. The total order is worth $3,000,000. Natali has the right to reduce the order to $750,000, or 2,500 units, and under certain circumstances has the right to cancel it. Full development of the product will require that VDYI raise additional capital. There can be no guarantee that VDYI will be successful in raising the required additional capital. The CardioGSM will allow for self-administered EKG measurements guided by voice instructions. The results will be automatically communicated to an emergency center for doctor evaluation, while the patient is online. To obtain access to the technology necessary to develop the CardioGSM, VDYI recently purchased U.S. Patent No. 5724025 and EU Patent Application No. 97102255.3 covering claims regarding a portable vital-signs monitor. The market for the CardioGSM is estimated by VDYI to be over US$2 billion. Based on development of the CardioGSM, VDYI intends to develop the VoicePilot, a cellular phone with an integrated voice PDA. The product is designed for the visually impaired, a market that VDYI knows well-since 1997 it has marketed a voice PDA for the visually impaired. VDYI estimates that the market for the VoicePilot is worth US$400 million. This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of Voice Diary Inc only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; decline in demand for Voice Diary Inc products; inability to timely develop and introduce new products; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Voice Diary Inc to differ materially from those contemplated in such forward-looking statements. Voice Diary Inc undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Voice Diary Inc, reference is made to Voice Diary Inc's reports filed from time to time with the Securities and Exchange Commission. SOURCE Voice Diary Inc -0- 09/21/2004 /CONTACT: Arik Hinkis, Voice Diary, Inc., Telephone: +1-516-939-0400, e-mail: email@example.com/ (VDYI) CO: Voice Diary Inc ST: New York, Israel IN: ARO AIR CPR ECP SU: CON -0- Sep/21/2004 20:32 GMT
Nir-Or Will Provide Control and Display Units for $450,000 in a
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