CORPORATE NEWS

President Signs "The Protection of Lawful Commerce In Arms Act"
October 10, 2005
Sturm, Ruger & Company, Inc. (NYSE: RGR) is pleased to announce that on Wednesday, October 26, 2005 President Bush signed S.397, "The Protection of Lawful Commerce in Arms Act." The City of New Orleans filed the first municipal lawsuit against the American firearms industry almost exactly seven years ago, and over thirty cities and counties subsequently instituted similar litigation. Congress has finally responded to this dangerous misuse of our legal system, which was intended to bankrupt an important asset to law enforcement, our national defense, and law abiding citizens. The U.S. Senate passed the bill in July by a 65-31 vote. The U.S. House of Representatives passed the bill on October 20th on a bi-partisan vote of 283-144.

The law of the land now prohibits filing, and would require dismissal of, lawsuits against manufacturers of non-defective, lawfully sold firearms based upon their subsequent criminal acquisition and misuse. Most of these cases have been dismissed by trial or appellate courts, but only after great expense by both taxpayers and the firearms industry. Motions to dismiss the few remaining cases will be filed shortly, based upon this new law.

"While absolutely vital and a resounding declaration of the bipartisan will of Congress," said Sturm, Ruger President Stephen L. Sanetti, "this law will not immediately end wasteful litigation. It is certain that motions to dismiss the remaining cases will be opposed and their results appealed. Tests of the law's validity by disgruntled special interests, who oppose the clear will of the people and their legislators, will doubtless follow. We are confident of ultimate victory, but the battle goes on," Sanetti concluded.


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