DRS Technologies Holds Annual Meeting; Fiscal 2000 "An Extraordinary Year," Says CEO Newman; General Dennis J. Reimer, Former Chief of Staff, U.S. Army, Elected to Board.

Business Editors

PARSIPPANY, N.J.--(BUSINESS WIRE)--Aug. 9, 2000

DRS Technologies, Inc. (ASE: DRS) announced that, at its annual meeting of stockholders held today in New York City, stockholders elected General Dennis J. Reimer, USA, (Ret.), former Chief of Staff of the U.S. Army, and re-elected Messrs. Ira Albom, senior vice president, Teleflex, Inc., and Mark N. Kaplan, of counsel, Skadden, Arps, Slate, Meagher & Flom LLP, to the company's board of directors. Each was elected to serve a three-year term of office.

At the meeting, Mark S. Newman, chairman, president and chief executive officer of DRS Technologies, told stockholders, "Fiscal 2000 was an extraordinary year for DRS, as we focused on revenue growth and increased profitability. Posting a 42% compound annual revenue growth rate over the past five years, DRS has achieved status as one of the fastest growing defense technology companies in the world and is a recognized competitor in the mid-tier sector of the defense industry."

He added, "We are committed to providing long-term value for our stockholders. The cost reduction measures and operational improvements we undertook in fiscal 2000 to accelerate profitability are evidence of that commitment, the benefit of which will be realized by the company throughout the current fiscal year and beyond. The record financial results for the first quarter of fiscal 2001 announced yesterday, our recent acquisition of General Atronics Corporation and our backlog of orders at the highest level in the company's history are clear indications of our success in achieving our goals for financial performance, adding critical mass to our core defense business areas and executing our strategies well."

"We are very pleased to welcome General Reimer to DRS's board of directors," Mark Newman continued. "His perspectives on the aerospace and defense industry will be invaluable for guiding the strategic development of the company at this important time in our growth. We are equally pleased that Ira Albom and Mark Kaplan will be continuing to provide their valued insight and counsel to our board."

During the company's annual meeting, stockholders approved all four proposals, as recommended by the board of directors. These proposals included the approval of an amendment to the company's by-laws to increase the minimum and maximum number of directors on the board, an amendment to increase the number of shares of common stock reserved for issuance under the company's omnibus plan, and the ratification of the appointment of independent certified public accountants, in addition to the election of the three directors to the company's board.

DRS Technologies provides leading edge products and services to government and commercial customers worldwide. Focused on defense electronics, the company develops and manufactures a broad range of mission critical products, from rugged computers and peripherals to systems and components in the areas of communications, combat intelligence, data storage, digital imaging, electro-optics, flight safety and space.

Additional information is available on the company's web site at www.drs.com.