DRS Receives Two Contracts Totaling Approximately $69 M to Build and Test IBAS for U.S. Army Bradley Fighting Vehicles

(Parsippany, N.J., February 13, 2008) -- DRS Technologies, Inc. (NYSE: DRS) announced today that during its fiscal 2008 third quarter it received two contracts totaling approximately $69 million from BAE Systems' Plc, (LSE: BA.L) U.S. subsidiary, BAE Systems, Inc., to manufacture, test and deliver Improved Bradley Acquisition Systems (IBAS) for U.S. Army M2A3 Bradley Fighting Vehicles. To date, DRS has received approximately $180 million in contracts from BAE to support these systems aboard the Bradley vehicle.

One contract was for approximately $23 million and the second was for approximately $45 million. The manufacturing and product deliveries have already begun and are being accomplished by the company's DRS Sensors & Targeting Systems unit - Optronics Division in Melbourne, Florida. Final deliveries are scheduled to occur in November 2009.


The IBAS provides target acquisition, tracking and engagement, and fire control for the Bradley vehicle's tube-launched, optically tracked, wire-guided (TOW) missile system, as well as its 25- and 7.65-millimeter weapon systems. Using second-generation forward looking infrared technology and eye-safe laser rangefinder capabilities, the system enables the vehicle's commander and gunners to detect, identify and acquire targets at greater ranges thus maximizing the effectiveness of the vehicle's weapons. As a result, these systems give warfighters major battlefield advantages at night and in visually obscured environments.

"We're pleased that BAE has placed its trust in DRS to produce a component so critical to maintaining our military's superiority," said James M. Baird, president of DRS' Reconnaissance Surveillance & Target Acquisition (RSTA) business segment. "The Bradley is clearly one of the Army's most important vehicles and it's an honor to be a premier supplier of technology to enhance its performance."

Source : DRS Technologies Inc.