CORRECTING and REPLACING DRS Technologies to Provide Airborne Subsystems for Air Combat Training on Large U.S. Air Force Program.

Business Editors/High-Tech Writers

CORRECTION...by DRS Technologies 

PARSIPPANY, N.J.--(BUSINESS WIRE)--June 9, 2004

In BW5096 issued June 9, 2004: Headline of release should read: DRS Technologies to Provide Airborne Subsystems for Air Combat Training on Large U.S. Air Force Program (sted DRS Technologies to Provide Airborne Subsystems Air Combat Training on Large U.S. Air Force Program).

The corrected release reads:

DRS TECHNOLOGIES TO PROVIDE AIRBORNE SUBSYSTEMS FOR AIR COMBAT TRAINING ON LARGE U.S. AIR FORCE PROGRAM

Company Estimates Potential Value of Its Subcontracts to Exceed

$360 Million

DRS Technologies, Inc. (NYSE: DRS) announced today that it will provide next-generation airborne instrumentation subsystems for air combat training to Cubic Defense Applications, a segment of Cubic Corp. (AMEX: CUB), in San Diego, California, for the U.S. Air Force's P5 Combat Training System/Tactical Combat Training System (P5CTS/TCTS) program. The P5 Combat Training System is an indefinite delivery/indefinite quantity (IDIQ) contract potentially valued at $525 million over ten years.

The P5CTS/TCTS program will provide the U.S. Air Force with state-of-the-art air combat training equipment. Designed to replace the existing training instrumentation on U.S. Air Force, Navy, Marine and Air National Guard fighter aircraft at more than 25 sites, including aircraft carrier facilities, DRS expects to provide to Cubic Defense Applications more than 1,200 systems over the next ten years that will improve joint service and coalition force training capabilities.

For an initial $12 million production contract, DRS will manufacture more than 100 airborne instrumentation subsystems designed to provide fighter pilots with tethered and rangeless real-time, air-to-air and air-to-ground training. Work for this contract will be accomplished by the company's DRS Training & Control Systems unit in Fort Walton Beach, Florida. Product deliveries for the initial contract are expected to begin in April 2005 and continue through August of the same year.

"We are delighted to receive the first major production order on the P5 program and look forward to continuing our valued relationship with Cubic," said Fred L. Marion, president of DRS's Surveillance & Reconnaissance Group. "This award is affirmation of our customer's confidence in our technology and experience, and supports our industry reputation as a leader in advanced air combat training systems."

Under this contract, the P5CTS/TCTS instrumentation will support a variety of fighter aircraft, including the F-15 Eagle, F-16 Fighting Falcon, F/A-18 Hornet, AV-8B Harrier and A-10 Thunderbolt aircraft, as well as various helicopters, cargo and bomber aircraft.

DRS Training & Control Systems designs, produces and supports high-reliability defense electronics for shipboard, land and air applications, including advanced test and evaluation systems, control systems for missile launching and guided bombs, air combat test and training systems, electronic warfare systems and threat radar simulation equipment. It also provides upgrade and refurbishing services for ground combat vehicles and air cargo handling systems.

DRS Technologies, headquartered in Parsippany, New Jersey, provides leading edge products and services to defense, government intelligence and commercial customers. Focused on defense technology, DRS develops and manufactures a broad range of mission critical systems. The company employs 5,800 people worldwide.

For more information about DRS Technologies, please visit the company's web site at http://www.drs.com.

SAFE HARBOR: This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on management's beliefs and assumptions, current expectations, estimates and projections. Such statements, including statements relating to the Company's expectations for future financial performance, are not considered historical facts and are considered forward-looking statements under the federal securities laws. These statements may contain words such as "believes," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements and include, without limitation, demand and competition for the Company's products and other risks or uncertainties detailed in the Company's Securities and Exchange Commission filings. Given these uncertainties, you should not rely on forward-looking statements. The Company undertakes no obligations to update any forward-looking statements, whether as a result of new information, future events or otherwise.