Breeze-Eastern Awarded $4 Million H-60 Rescue Hoist Multi-Year Contract.

Business Editors

UNION, N.J.--(BUSINESS WIRE)--June 30, 2003

Breeze-Eastern, a division of TransTechnology Corporation (NYSE:TT), has been awarded a multi-year contract by Sikorsky Aircraft Corporation, a subsidiary of United Technologies Corporation of Hartford, CT, to supply rescue hoists in support of the new U.S. Navy MH-60R/S helicopter programs. The new helicopters will replace the SH-60B and SH-60F aircraft, whose primary mission is anti-submarine warfare (ASW). The SH-60B is the U.S. Navy's small-ship based ASW helicopter, and the SH-60F is the carrier-based ASW aircraft. The new MH-60S Knighthawk will be used as a multi-purpose transport, supply replenishment rescue helicopter for combat search and rescue, special-operations, transportation and mine countermeasures. Combined, the Naval programs could total close to 500 aircraft.

The basic contract is for five years for a minimum of 69 rescue hoist systems, which have a value of more than $4,000,000. The contract also contains options for up to 60 additional aircraft per year. The contract aggregate value is contingent upon the year-to-year U.S. Navy budget allocations.

"This contract reflects Breeze-Eastern's continuing support of Sikorsky and the U.S. Navy. As the provider of the rescue hoist systems on the original SH-60B and SH-60F platforms, we are proud to now be the supplier of choice for this next generation of Naval Hawk aircraft as well," stated Robert L. G. White, President and CEO of TransTechnology Corporation.

TransTechnology Corporation (http://www.transtechnology.com) operating as Breeze-Eastern (http://www.breeze-eastern.com) is the world's leading designer and manufacturer of sophisticated lifting devices for military and civilian aircraft, including rescue hoists, cargo hooks and weapons-lifting systems. The company, which employs approximately 180 people at its facility in Union, New Jersey, reported sales from continuing operations of $55.0 million in the fiscal year ended March 31, 2003.

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The forward-looking statements in this press release are based on current beliefs, estimates and assumptions concerning the operations, future results, and prospects of the Company. As actual operations and results may materially differ from those assumed in forward- looking statements, there is no assurance that forward-looking statements will prove to be accurate. Forward-looking statements are subject to the safe harbors created in the Acts.

Any number of factors could affect future operations and results, including, without limitation, the Company's ability to be profitable with a smaller and less diverse base of operations that will generate less revenue; the Company's ability to satisfy the listing requirements of the NYSE or any other national exchange on which its shares are or will be listed or otherwise provide a trading market venue for its shares; the value of replacement operations, if any; determination by the Company to dispose of additional existing assets; general industry and economic conditions; events impacting the U.S. and world financial markets and economies; interest rate trends; capital requirements; competition from other companies; changes in applicable laws, rules and regulations affecting the Company in the locations in which it conducts its business; the availability of equity and/or debt financing in the amounts and on the terms necessary to support the Company's future business; and those specific risks that are discussed in the Company's previously filed Annual Report on Form 10-K for the fiscal year ended March 31, 2003.

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