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DRS Technologies Receives $101 Million Five-Year Contract for Long Range Advanced Scout Surveillance System Subassemblies

Business Wire, April 28, 2008

PARSIPPANY, N.J. -- DRS Technologies, Inc. (NYSE: DRS) announced today that it has received an initial order of $36.4 million on a five-year contract with a projected minimum value of approximately $101 million to produce critical subassemblies for the Long Range Advanced Scout Surveillance System (LRAS3) program. The contract was awarded to DRS by the Network Centric Systems business of the Raytheon Company (NYSE: RTN), McKinney, Texas, the prime contractor and final integrator for the LRAS3 program.

The work will be performed by DRS' Sensors & Targeting Systems unit - Optronics Division in Melbourne, Florida. Manufacturing is expected to begin immediately.

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LRAS3 is a multi-sensor infrared system enabling real-time detection, recognition, identification and geo-location of distant targets. Army scouts on Stryker and HMMWV platforms use this technology to conduct 24-hour reconnaissance and surveillance, while remaining outside enemy acquisition and fire ranges - a vital improvement over previous generations of LRAS.

Under the contract, DRS will provide such key LRAS3 subassemblies as Forward Looking Infrared (FLIR) systems and Integrated Optical Benches (IOBs).

"This contract ensures that DRS will continue to be a major contributor to the LRAS3 program for the next five years," said James M. Baird, president of DRS' Reconnaissance, Surveillance & Target Acquisition (RSTA) Segment. "We're proud of the role we will continue to play in bringing this technology - widely considered to be the Army's premier ground-combat system for reconnaissance and surveillance - to the modern battlefield."

The company's RSTA Segment develops, manufactures and supports electro-optical technologies, including advanced cooled and uncooled thermal-imaging solutions for soldier systems, ground vehicle, airborne, maritime, industrial, security, public safety and firefighting applications.

DRS Technologies, headquartered in Parsippany, New Jersey, is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company employs approximately 10,000 people. For more information about DRS Technologies, please visit the company's web site at www.drs.com.

Business Services Industry

DRS Technologies Receives $101 Million Five-Year Contract for Long Range Advanced Scout Surveillance System Subassemblies

Business Wire, April 28, 2008

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