Dow Jones 10455.87 -66.36 8:14 am PST, November 29, 2004  NASDAQ 2098.60 -3.37 For info, visit access.smallcapnetwork.com S & P 500 1176.80 -5.85 Change your subscription status here Russell 2000 631.84 +0.68 VOLUME 04: ISSUE 95  Feature: Force Protection - Patience Often Rewarded. Despite the fact that ballistic vehicle maker Force Protection (OTCBB: FRCP) has garnered significant business this year, the share price performance has been less than stellar. It does happen in the SmallCap market, for, as we all are aware, good opportunities tend to advance on their own timetable. The trick is being in or accumulating shares at the right time at a good price--such as right around now in the case of Force Protection. When last we visited FRCP on September 10th, the company had announced another nifty contract taking the business wins to around $40 million for the first nine months of 2004. Today, (release below) the company announced it had inked another $11.8 million deal with the Army upping that business total yet again. The shares have been stuck in a channel between 15 and 20 cents. A decisive break above 24 cents would herald a new up-leg and signal a break out of the trading range. As we've said, the shares should be trading higher in our opinion, but in that they are still within their historical trading band, we believe that a decent opportunity is emerging for long- term investors. The facts are these: the company has secured significant business as noted above since January 2004. It has an order backlog in excess of $20 million, which the company feels will expand by year-end. The market cap is roughly $40 million, which by our calculation is well below the amount of business booked for 2004 so far. The stock price remains depressed either due to forces we're not aware of (doubtful), or, more likely, a lack of understanding by investors as well as market apathy. We believe that there remains significant opportunity at these share price levels for those risk- oriented investors who share the vision regarding the potential of both the company and its markets. Those markets, unfortunately, are the battlefields of Iraq and Afghanistan. And those situations aren't getting any better. Insurgents continue to ply their cowardly attacks against the troops and, as noted in the press release, the army feels that an eventual doubling of the current compliment to 8000 armored vehicles will be needed to effectively deal with these significant threats. With George Bush gaining a further four years, investors should have reasonable confidence that that request will be honored as the President spends some 'political capital' and attempts to effectively prosecute and win these critical conflicts. And keep the troops safe. As we noted on October 25th, CEO Michael Watts stepped aside amidst some personal tax issues. Gale Aguilar took over as interim CEO and it appears that that quick action diffused any possible effect that incident may have had on the company's credibility. While the perceived controversy may have had some early effect on the company's share price, today's announcement evidencing both the quality of the FRCP's products and continued government confidence should quash any investor concerns on that front once and for all. We continue to have confidence in both the business plan and potential of Force protection. Once investors wake up to the fact that the company can win and deliver the appropriate vehicles to protect the troops and ultimately help end these conflicts, we believe that will be reflected in the share price. Will it happen tomorrow? No idea. If we could time these things perfectly we'd likely keep the information to ourselves. Fortunately, we don't work that way. The bottom-line: the business gained, the potential and the need for Force Protection's products will likely reward investors nicely over the next 6-12 months. Check out the SCBlog for between-newsletter information you can use.   PRESS RELEASE Force Protection, Inc. Announces Army Contract for More Armored Vehicles Monday November 29, 9:20 am ET LADSON, S.C.--(BUSINESS WIRE)--Nov. 29, 2004--Force Protection, Inc. (OTCBB:FRCP - News), the leading U.S. manufacturer of mine- and blast-protected vehicles for military and security personnel, announced today that the U.S. Army has ordered an additional 15 Buffalo mine-protected clearance vehicles for use in the Iraq War. The total contract amount is estimated at $11.8 million. "The Army's new request for more than a dozen vehicles is indicative of the critical role the Buffalo is playing in keeping our troops safe," said Force Protection CEO Gale Aguilar. "Our vehicles are saving lives by protecting our troops against the threat of landmine attacks and improvised explosive devices (IEDs), which have been a deadly feature of the current combat." U.S. commanders have requested that the number of armored utility vehicles in Iraq be doubled to 8,000, stating that they are necessary to help defeat an insurgency that continues to strike troops. "Our armed forces require equipment that keeps them safe and allows them to accomplish their missions in the face of emerging threats," said Aguilar. "We are committed to providing vehicles that meet this ever-increasing need." The Buffalo is already being used by the Army Corps of Engineers in Iraq and Afghanistan. It has multiple mission configurations and is designed to be repaired quickly in the field. The unique technology of the Buffalo provides protection against multiple types of anti-tank mines as well as smaller anti-personnel mines. About Force Protection, Inc. Force Protection, Inc. manufactures ballistic and mine protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C. For more information, visit http://www.forceprotectioninc.com. This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the strategic plan outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law.  Contact:  Policy Impact Strategic Communications Jeff Child, 202-661-6372 (Media) jchild@policyimpact.com or Force Protection, Inc. Investor Relations, 843-740-7015, Ext 233 investorrelations@forceprotectioninc.com Source: Force Protection, Inc.   We Value Your Feedback Got comments, questions or suggestions? 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