DRS acquires Mag-Head Engineering Company

Business Wire, Feb 20, 1996

PARSIPPANY, N.J.--(BUSINESS WIRE)--Feb. 20, 1996-- Diagnostic/Retrieval Systems, Inc. (ASE: DRS.A, DRS.B)("DRS") today announced that it has acquired, through a subsidiary of the company, certain assets of Mag-Head Engineering Company, Inc. in a transaction effective as of November 1, 1995.

DRS chairman, president and chief executive officer Mark S. Newman commented, "Mag-Head Engineering strongly complements DRS's existing capabilities in the defense and commercial magnetic recording systems markets. The acquisition is in line with our two-fold strategy: to acquire companies that are synergistic with our core business areas, and to expand our commercial business base."

Mag-Head Engineering Company, a privately-held organization located in Golden Valley, Minn., designs, manufactures and refurbishes magnetic broadcast audio heads, magnetic flight recorder heads and magnetic strip card readers for the U.S. government, defense and commercial markets.

DRS, Inc. is a diversified, high-technology company serving global government, medical and commercial markets. Principally a developer and manufacturer of a variety of sophisticated, leading edge systems used for the processing, display and storage of data, DRS provides its customers with a broad range of products, including electronic sensor, electronic imaging and electro-optical systems, and offers a full complement of technical support services.

CONTACT: DRS, Inc.

Patricia M. Williamson, 201/898-1500

or

Kehoe, White, Savage & Company

Van Negris/John P. Kehoe, 212/888-1616