Nestor, Inc. Files Charter Amendment Authorizing One-for-Ten Reverse Stock Split

    PROVIDENCE, R.I.--April 11, 2003--Nestor, Inc. (OTC: NEST) announced today that the Company has filed a charter amendment authorizing a one-for-ten reverse stock split of the Company's common stock. Pursuant to the reverse stock split, one new share of common stock will be issued in exchange for every ten outstanding shares of common stock. Any stockholder who would otherwise be entitled to receive a fractional share as a result of the reverse split will be issued one new share of common stock.
    The reverse stock split, approved under Delaware law by Company's Board of Directors and stockholders, will be effective for stockholders of record on April 11, 2003. The Company will continue to be listed on the NASDAQ Over The Counter Bulletin Board market under the stock symbol "NEST." The Company's common stock will begin trading at the post-split price on or about April 17, 2003.
    Nestor, Inc., through its wholly owned subsidiary, Nestor Traffic Systems, is an emerging leader in providing innovative, video-based monitoring systems and services for traffic safety. Its products incorporate Nestor's patented image processing technology into intelligent, real-time solutions that promote traffic efficiency and intersection safety.