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Electronic Sensor Technology Appoints Matthew S. Collier to Position of President & Chief Executive Officer; Accomplished Executive to Lead Next Phase of Company's GrowthNEWBURY PARK, Calif. --(Business Wire)-- May 12, 2005 -- Electronic Sensor Technology, Inc. (OTCBB: ESNR), a leading provider of innovative Homeland Security solutions, announced today that it has appointed Matthew S. Collier as its new President & Chief Executive Officer. Mr. Collier succeeds Edward J. Staples, who will take the position of Chief Technical Officer. Jim Frey will remain the Company's Chairman. Mr. Collier joins the Company from SAFER Systems, a privately-held company that manufactures high technology emergency response software for international governmental applications, as well as for the global chemical, petrochemical, and transportation industries, where he was President. Under his leadership, the company doubled its sales. "Mr. Collier's experience in government, military, and the private sector makes him the ideal candidate to lead Electronic Sensor Technology into its next stage of development. I am delighted that we were able to attract such an experienced and accomplished executive," said Mr. Frey. While at SAFER Systems, Mr. Collier was also the President of SAFER RMP International (Soenen Consortium), a private start-up company that specialized in aiding major chemical and transportation companies with emergency response expertise during catastrophic accidents. During his tenure, Mr. Collier oversaw the consolidation of the two companies into a single entity. "I am pleased to join Electronic Sensor Technology at such an exciting time for the Company," said Mr. Collier. "The recent increase in sales and the growing demand for the zNose(R) product line positions the Company for rapid growth across a broad spectrum of industries. Considering the growing security concerns from the private and government sector, the Company has a state-of-the-art product in the market at the right time." Prior to joining SAFER Systems, Mr. Collier served as Vice President of Engineering of Sensors, Inc. (Soenen Consortium), a private company that manufactures high technology emissions measurement instruments for the world automotive test and automotive maintenance OEM market. At Sensors, Inc., Mr. Collier was responsible for the design, engineering maintenance, and launch of all infrared and optics based products sold by the Company. Sensors, Inc. sales doubled as a direct result of the introduction of these products into the global marketplace. Mr. Collier holds degrees from the United States Military Academy at West Point and Harvard University. After directing a U.S. Congressional office for two years as Chief of Staff, Mr. Collier served as Mayor of Flint, Michigan from 1987 to 1991. Founded in 1995, Electronic Sensor Technology has developed and patented a chemical vapor analysis process. We believe that the Company's product line is positioned to eliminate key vulnerabilities in the homeland security market, specifically in maritime port, airport, and border security applications. SEC Filings and Forward-Looking Statements This press release includes forward looking statements, including the Company's expectations regarding its ability to develop and access capital markets and its ability to achieve expected results in the chemical detection and analysis industry. The forward looking statements are identified through use of the words "potential," "anticipate," "expect," "planned" and other words of similar meaning. These forward-looking statements may be affected by the risks and uncertainties inherent in the chemical detection and analysis industry and in the Company's business. The Company cautions readers that certain important factors may have affected and could in the future affect the Company's beliefs and expectations and could cause the actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. For a discussion of these factors, please refer to our recent filings with the Securities and Exchange Commission, including our most recent report on form 10-KSB. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof. |
