DRS Technologies Awarded $24.3 Million Contract to Provide Key Subsystems for U.S. Army Long Range Advanced Surveillance Systems.

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PARSIPPANY, N.J.--(BUSINESS WIRE)--March 22, 2004

DRS Technologies, Inc. (NYSE:DRS) announced today that it was awarded a $24.3 million subcontract to provide major subsystems for the U.S. Army's Long Range Advanced Scout Surveillance System (LRAS3). LRAS3 provides the U.S. Army Brigade Reconnaissance Troops, Armor and Infantry Battalion Scout Platoons, and the Stryker Brigade Combat Teams (SBCT) with a long-range detection, recognition, identification and far-target location capability.

The contract was awarded to DRS by Raytheon Company's (NYSE:RTN) Network Centric Systems business in McKinney, Texas. The company's DRS Optronics unit in Palm Bay, Florida, will perform all work associated with the award at its state-of-the-art electro-optical design and production facilities. Product deliveries are expected to commence in May and continue through May 2005. Including the latest award, DRS received more than $88 million in orders on the LRAS3 program.

LRAS3 provides heavy battalion, Light Cavalry Squadron and IBCT Scouts with the capability to conduct 24-hour surveillance and reconnaissance missions at a safe distance outside the acquisition and engagement ranges of the threat. These Long Range Advanced Surveillance Systems are expected to bridge the gap between currently fielded systems and the U.S. Army's Future Combat System (FCS).

"The receipt of this award reflects DRS's market position as a leading supplier of Second Generation infrared ground vehicle sighting, targeting and detection systems," said Fred L. Marion, president of DRS's Electro-Optical Systems Group. "Our systems continue to play a crucial role in the Army's Horizontal Technology Integration initiative and its modernization strategy for the 21st century."

The additional standoff capability of the LRAS3 enables scouts to operate well outside the direct-fire range of the detected threat. Deployed on the Army's M1025 HMMWV reconnaissance vehicles in their mounted configuration, the system also can be used on tripods for dismounted missions. LRAS3 provides precise far-target location by incorporating advanced Second Generation Forward Looking Infrared (FLIR) technology, a global positioning interferometer, an eye-safe laser range finder and a day video camera.

The M1025 HMMWV Scouts are forward deployed to provide commanders with 24-hour battlefield reconnaissance and surveillance and assist the missions of heavy battalions in remote areas of rough terrain under difficult conditions. The mission of SBCT is to conduct effective combat operations, including preventing, containing, stabilizing and resolving conflicts in major theater warfare.

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 5,700 people worldwide.

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

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