RICHMOND, Va.--(BUSINESS WIRE)--Sept. 12, 2006--Commonwealth Biotechnologies, Inc. (NASDAQ Capital Market: CBTE), today reported receipt of new contract awards totaling approximately $2.35 million. These contracts have all been awarded since August 8, 2006, the date CBI released the financial results of its second fiscal quarter of 2006. The new contracts add to CBI’s government contract base, but also represent new contracts with private sector clients. The principal contract award, totaling some $1.45 million dollars over 5 years, was issued by a particular state agency to CBI’s DNA reference lab for DNA sequence analysis of convicted offender samples. The analysis results will be entered into the FBI Combined DNA Index System (CODIS) database. The new bio-defense contract is for initial examination of the proteomes of certain select agent pathogens and the initial portion is valued at approximately $300,000. Additional work under this contract, valued at an additional $550,000, is expected to be allocated from government fiscal year 2007 budget appropriations.
