BRSI Ballistic Recovery Systems Inc (CE)

Ballistic Recovery Systems, Inc. (OTCBB:BRSI)(BRSparachutes.com), a manufacturer of whole-airplane parachute recovery systems for general aviation and recreational aircraft, announced today that it has made an unscheduled principal payment of $721,000 on its outstanding senior debt associated with the settlement with Charles F. Parsons and Aerospace Marketing Inc. The early payment eliminates the first 5-year term debt 47-months early and will reduce interest and other expenses representing annual cash savings of $76,000. Larry E. Williams, President and Chief Executive Officer, said, "We have pledged to reduce the overall debt. This action today continues to demonstrate our strong commitment to achieving a sound debt strategy, improving the balance sheet, and creating long-term value for our investors." Don Hedquist Chief Financial Officer, added, "We have made solid strides in a very short period of time to enhance the company's capital structure and credit profile. We are pleased with our progress to date and remain committed to further debt reductions." The company will announce financial results for the fiscal year 2006 ended September 30, 2006 on December 15, 2006. BRS is a South St. Paul, Minnesota, based company that designs, manufactures and distributes whole-plane emergency parachute systems for use on general aviation and recreational aircraft. Since 1981, BRS has delivered more than 23,000 parachute systems to aircraft owners around the world including over 2,800 systems on certified aircraft like the Cirrus Design aircraft manufactured in Duluth, Minnesota. To date, BRS parachute recovery systems have been credited with saving the lives of 198 pilots and passengers. The forward looking matters discussed here should be considered subject to risks and uncertainties, including market fluctuations, pricing, procurement, manufacturing efficiencies, and other risks that could cause the actual results to differ materially from those projected. For more information, review the company�s filings with the Securities and Exchange Commission, particularly the Company�s annual report on Form 10-KSB. For more information on BRS contact: Larry E. Williams; BRS, Inc: Fleming Field, 300 Airport Road; South St. Paul MN 55075; USA (LarryWilliams@BRSparachutes.com) TEL 651.457.7491; FAX 651.457.8651 Ballistic Recovery Systems, Inc. (OTCBB:BRSI)(BRSparachutes.com), a manufacturer of whole-airplane parachute recovery systems for general aviation and recreational aircraft, announced today that it has made an unscheduled principal payment of $721,000 on its outstanding senior debt associated with the settlement with Charles F. Parsons and Aerospace Marketing Inc. The early payment eliminates the first 5-year term debt 47-months early and will reduce interest and other expenses representing annual cash savings of $76,000. Larry E. Williams, President and Chief Executive Officer, said, "We have pledged to reduce the overall debt. This action today continues to demonstrate our strong commitment to achieving a sound debt strategy, improving the balance sheet, and creating long-term value for our investors." Don Hedquist Chief Financial Officer, added, "We have made solid strides in a very short period of time to enhance the company's capital structure and credit profile. We are pleased with our progress to date and remain committed to further debt reductions." The company will announce financial results for the fiscal year 2006 ended September 30, 2006 on December 15, 2006. BRS is a South St. Paul, Minnesota, based company that designs, manufactures and distributes whole-plane emergency parachute systems for use on general aviation and recreational aircraft. Since 1981, BRS has delivered more than 23,000 parachute systems to aircraft owners around the world including over 2,800 systems on certified aircraft like the Cirrus Design aircraft manufactured in Duluth, Minnesota. To date, BRS parachute recovery systems have been credited with saving the lives of 198 pilots and passengers. The forward looking matters discussed here should be considered subject to risks and uncertainties, including market fluctuations, pricing, procurement, manufacturing efficiencies, and other risks that could cause the actual results to differ materially from those projected. For more information, review the company's filings with the Securities and Exchange Commission, particularly the Company's annual report on Form 10-KSB. For more information on BRS contact: Larry E. Williams; BRS, Inc: Fleming Field, 300 Airport Road; South St. Paul MN 55075; USA (LarryWilliams@BRSparachutes.com) TEL 651.457.7491; FAX 651.457.8651