Contract Award Tied to Argus One Testing at U.S. Army Facility

Argus One

KENNEDY SPACE CENTER, FL – World Surveillance Group Inc, a developer of lighter-than-air unmanned aerial vehicles (“UAVs”) and related technologies, announced today that it was awarded a $200,000 contract from Space Florida, an independent special district, a body politic and corporate, and a subdivision of the State of Florida. The contract is to create a Performance Data Package in connection with the flight testing of WSGI’s Argus One UAV at the U.S. Army’s proving ground facility in Yuma, Arizona in May/June 2011.

This contract follows a financing commitment of up to $1.5 million from Space Florida, which WSGI intends to use to expand its Florida-based operations and to finance the previously announced potential acquisition of Global Telesat Corp., a provider of satellite tracking services to the Department of Defense and other customers.

WSGI CEO Glenn Estrella stated, “We are excited to secure our first government contract and plan on working closely with Space Florida to establish the parameters for the series of tests to be performed by WSGI on our Argus One airship in Yuma that will be included in the Performance Data Package.”

Michael K. Clark, WSGI’s Chairman, added, “We are looking forward to flight testing and demonstrating our Argus One UAV’s capabilities at Yuma and are delighted to be working with Space Florida and our other partners in this effort. We continue to work aggressively with our partners to accelerate the development and commercialization of our airships.”

Space Florida President Frank DiBello stated, “I am confident that the flight test program will add immeasurably to the continued advancement of this next generation hybrid air system that directly supports multiple civil and defense mission user needs. We look forward to working with World Surveillance Group as they bring this advanced technology aerial platform to the market from Florida.”

Space Florida is an independent special district of the State of Florida, created by Chapter 331, Part II, Florida Statutes, for the purposes of fostering the growth and development of a sustainable and world-leading space industry in Florida. As the State of Florida’s aerospace economic development agency, Space Florida fosters bold economic development activities to expand and diversify domestic and international opportunities that support talent development, enhance infrastructure and support governments and organizations in improving the state’s competitive business climate. Space Florida does this by supporting, assisting, facilitating and/or consulting on space industry related needs.