DRS Receives Two Contracts Totaling Approximately $20 M to Manufacture and Provide Target Acquisition Assemblies for IBAS

Parsippany, N.J. -- DRS Technologies, Inc. (NYSE: DRS) announced today that it received two contracts totaling approximately $20 million to provide the target acquisition assemblies used in the Improved Bradley Acquisition System (IBAS) aboard the M2A3 Bradley Fighting Vehicle.

One contract is for $11 million from the U.S. Army's Aviation and Missile Command at Redstone Arsenal in Alabama, and the second is for $9 million from a prime contractor.

The work for these contracts will be executed by the company's DRS Sensors & Targeting Systems unit - Optronics Division in Palm Bay and Melbourne, Florida. The manufacturing will begin immediately, the first deliveries are expected to start in December 2008, and final deliveries are scheduled to occur in September 2009.

DRS' target acquisition assemblies are part of the IBAS system that provides target acquisition, tracking and engagement, and fire control of the Bradley vehicle's tube-launched, optically tracked, wire-guided (TOW) missile system, and its 25 millimeter and 7.65 millimeter weapon systems. The company's assemblies use second generation forward looking infrared technology, and eye-safe laser rangefinder capabilities to give soldiers advantageous opportunities on a battlefield during the night or in visually-obscured environments.

The IBAS equipped with DRS technology enables the commander or gunner of a Bradley vehicle to detect, identify and acquire targets while moving and at greater ranges, thus maximizing the effectiveness in engaging targets with the vehicle's weapon systems.

"These contracts confirm our company's position as a premier supplier of technology for one of the Army's most important land vehicles, and as a premier supplier of products equipped with forward looking infrared technology," said James M. Baird, president of DRS' Reconnaissance, Surveillance & Target Acquisition (RSTA) business segment.

DRS Technologies Inc.
04.02.2008