BRISBANE, AUSTRALIA (NASDAQ: MTSX) is pleased to announce that earlier today its US subsidiary Metal Storm Inc. conducted a successful public live fire demonstration of the Metal Storm 12-Gauge Multi-shot Accessory Under-barrel Launcher (MAUL) at the International Infantry & Joint Services Small Arms Systems Symposium in Dallas, Texas.

The demonstration was open to all symposium visitors that wished to attend. Over 100 military and civilian personnel attended the firing, which demonstrated the MAUL in fully automatic (400rpm) burst fire mode.

The symposium, which is sponsored by the National Defense Industrial Association, is a premier event running from May 19-22 where Small Arms communities come together for technical paper presentations, informational speakers and exhibits of the hardware used by current and future defence organisations.

The MAUL is designed to fit to existing assault rifles as a semi-automatic accessory weapon, enhancing firepower and capability without the need to carry a separate gun, and was developed under a contract to the United States Marines Corps Warfighting Laboratory.

Metal Storm Inc. General Manager Peter D. Faulkner said the symposium provides Metal Storm with the ideal platform to showcase a range of products that were rapidly approaching commercialisation.

"This successful demonstration is a further enhancement of the credibility of the MAUL product before an audience of key decision makers from potential civilian and military customers," Mr Faulkner said.

As well as the demonstration, Metal Storm is also exhibiting in its booth a static display of the 3GL three shot 40mm grenade launcher, the MAUL, and the FireStorm multi-barrel remotely-operated weapons system mounted on an iRobot Warrior robotic platform.

The Symposium draws government, industry, law enforcement and international participants, in addition to a strong representation from all branches of the military.

Notes:

Metal Storm's Australian Stock Exchange trading code: MST
Metal Storm's NASDAQ Small Cap ticker symbol: MTSX

About Metal Storm

Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in Australia. Metal Storm Limited technology and products are represented in the USA by Metal Storm Inc., which has offices in Arlington, Virginia.

Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.

Metal Storm's weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.

Safe Harbour

Certain statements made herein that use the words "estimate," "project," "intend," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the US, changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the company's business, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission, including the company's Form 20-F.

Company Contact: Australia & USA Dr Lee Finniear Chief Executive Officer Metal Storm Limited Ph: +61 7 3123 4700

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