NASA AWARDS HI-SHEAR CONTRACT TO SUPPLY INTIATORS

For Immediate Release
April 24, 2001
8:00 a.m EST

Hi-Shear Technology Corporation, Torrance, CA, (AMEX:HSR), today announced that it has been awarded a major three year requirements contract by NASA to be the exclusive supplier of key initiator devices used on every flight throughout the United States Space Shuttle and other missions.

 

This device, referred to as the NSI cartridge, represents the highest quality, reliability and performance of any cartridge in the industry.  Originally designed to meet the extreme requirements of the Apollo Lunar Mission, this electrically activated explosive device was subsequently adopted and standardized for use throughout the NASA system.  The major function of the product is to initiate key systems and functions throughout the Space Shuttle, allowing the shuttle to successfully launch, maneuver in flight and return.  Hi-Shear has effectively manufactured, tested and delivered these NSI products for over 25 years.

 

Hi-Shear Technology Corporation provides aerospace products in applications where safety, performance and high reliability are essential.  It develops and produces advanced systems and products that are primarily used worldwide in space satellites, launch vehicles, and government programs.  The Company is also continuing to adapt its technology to produce advanced, competitively priced products for both aerospace/defense and commercial markets.

 

This release, as it relates to product announcements and other Company matters, contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks related to market acceptance of and demand for the Company’s new commercial products, dependence on the uncertainty of government budgetary issues, primary government contracts, and intellectual property rights.

 

Please contact Ms. Linda A. Nespole (310) 784-7821 for information about the Company or visit the Hi-Shear website at www.hstc.com.