Force Protection, Inc. Enters into New Financing Agreement to Accelerate Company Growth

Business Wire, July 28, 2004

CHARLESTON, S.C. -- Force Protection, Inc. (OTCBB:FRCP) announced today that its wholly-owned subsidiary, Technical Solutions Group (TSG), has entered into an agreement with GC Financial Services, Inc., for a revolving credit line of up to $4 million. TSG has also renewed its existing agreement with GC Financial Services, Inc. for receivables financing.

"Our new credit facility reflects TSG's growth as an important manufacturer of mine and ballistic protected vehicles, and comes on the heels of last week's announcement of an expansion of our production facility," said Michael Watts, Force Protection's Chief Executive Officer. "We have had a very satisfactory relationship with GC Financial Services in the past with regard to receivables financing and look forward to continuing to work with them. This credit facility reduces our need for additional equity capital and its associated dilution."

The new agreement was reached on July 7, 2004. TSG expects to use the credit line to finance inventories. To date, the company has not made any draws against the line.

Other news demonstrating the growth of TSG and the importance of the Company's vehicles to the U.S. military includes a visit by U.S. Representative Henry Brown (R-SC) and U.S. Representative Jim DeMint (R-SC) to TSG's Ladson, S.C. manufacturing facility on July 27, 2004. In addition, the Marine Corps has arranged a demonstration of a Cougar at Quantico, Virginia on Thursday, July 29, where U.S. Secretary of the Navy Gordon England will have an opportunity to see the vehicle first hand.

About GC Financial Services, Inc. (GCFS)

GC Financial Services, Inc. (GCFS) is a portfolio lender that specializes in working capital solutions for small and mid-sized government contractors. GCFS offers a full range of financial services, including receivable based lending, short term bridge facilities, full receivable management and contract management consulting. For more information, please visit the Website, www.gcfinancialservices.com.

About Force Protection, Inc.

Force Protection, Inc. manufactures and distributes vehicles that protect and save lives and property. Its subsidiary, Technical Solutions Group, Inc., (TSG) manufactures and markets military vehicles that are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Its 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.forceprotection.net.

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.