Implant Sciences Announces Formation of Homeland Security and Defense Advisory Board

WAKEFIELD, Mass.--(BUSINESS WIRE)--Jan. 10, 2005--Implant Sciences Corporation (AMEX: "IMX", "IMX.WS") a developer and manufacturer of products for homeland defense, semiconductor, and medical device industries today announced the formation of a Homeland Security and Defense Advisory Board. The charter of our Homeland Security Advisory Board will be to provide guidance and advice to Implant Sciences on the technologic requirements, business strategies and application of our technology to current and future products so as to meet the needs of military, governmental and private sector security professionals in the U.S. and throughout the world. The Company's intent is to grow the Homeland Security Advisory Board to a membership of five individuals having the requisite background and experience which we believe will make them ideally suited to provide the Company with necessary practical guidance to further our strategic efforts in the security marketplace.

Homeland Security Research Corporation ("HRSC") has performed market and industry analysis on several areas of concern for homeland security, including people, luggage and large parcel, hand-held baggage and small parcel, and cargo screening. HRSC's results not only indicate the potential for substantial growth that may be experienced in these markets, but also appear to raise concerns as to the adequacy of current technology and the need for a "new line of cost-effective screening technology products." In terms of market size, HRSC estimates the 1) people screening market to grow to $3.5 billion in 2006 and to $9.9 billion in 2010, 2) luggage and large parcel screening market will grow to $1.2 billion in 2006 and to $3.5 billion in 2010, and 3) hand-held baggage and small screening market will grow to $1.25 billion in 2006 and to $3.4 billion in 2010. The total cost of added security for airline cargo alone is forecasted by HRSC to surpass $2 billion in 2006. The accumulated spending on hand-held baggage screening equipment, service and infrastructure in sectors such as aviation, maritime and mass transit, public gathering sites and government and private sector sensitive sites is estimated by HRSC to be $60 billion during the period 2003 through 2010, as compared to an accumulated $7 billion spent during the 1994 through 2001 period.


Dr. Anthony J. Armini, CEO of Implant Sciences Corporation, commented, "As is evidenced by the HRSC reports, Implant Sciences is participating in an industry that is expected to enjoy significant growth. In terms of people screening, luggage, hand-held baggage and aviation cargo, HRSC's expectation for 2006 is a market size of almost $8 billion. We believe our Quantum Sniffer(TM) technology could represent the type of "new technology" that could make screening of explosives more efficient and cost-effective for security professionals throughout the world. We believe the formation of a Homeland Security Advisory Board composed of experts having homeland security experience with military agencies, governmental agencies and the private sector could provide Implant with an important strategic, sales, marketing and product development resource. We look forward to engaging several key personnel in to serve on our Homeland Security Advisory Board, and plan to provide future announcements as these members are retained."

About Implant Sciences

Implant Sciences, incorporated in 1984, is using its core ion technology to develop, manufacture and market products for the homeland security, semiconductor and medical device industries. The Company has developed and commercialized portable and bench-top trace element detection devices to identify explosives. The Company has also received government grants from the US Army, Navy and Air Force, and the Transportation Security Administration to adapt the Company's explosive detection technology to a wide number of security requirements. The Company continues its efforts to develop new products and applications using its Quantum Sniffer(TM) technology, including applications for the detection of explosives, narcotics and toxic materials.

Using its proprietary ion implantation and thin film coating technologies, Implant Sciences has a sophisticated production line that modifies the surface characteristics of orthopedic joint implants to reduce polyethylene wear, thereby substantially increasing the life of the implants. The Company also manufactures and markets radioactive and non-radioactive products for medical use, including radioactive seeds for treating prostate cancer that are distributed throughout the United States by its own direct sales force. In parallel with the production of these seeds, it is also developing additional brachytherapy products for the treatment of breast, eye, and other cancers.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "expect," "should," "plan to," "potential," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party distributors and sales representatives, ability to attract and retain members of its advisory board, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.


Contacts

Aurelius Consulting Group
Dave Gentry, 407-644-4256
dave@aurcg.com
www.runonideas.com
or
Implant Sciences Corporation
David C. Volpe, 508-523-3141
dvolpe@implantsciences.com
www.implantsciences.com
or
Media contact:
The Investor Relations Group
Mike Graff or Janet Vasquez, 212-825-3210

Source : Implant Sciences