DRS annouces award of $1.9 Billion USAF contract

(PARSIPPANY, N.J.) -- DRS Technologies, Inc. (NYSE: DRS) announced today that it has been selected as a prime contractor on a 21-company team to share the award of an indefinite delivery/indefinite quantity (IDIQ) contract with a ceiling value of $1.9 billion to provide engineering and technical services to the U.S. Air Force. The contract will support the Design and Engineering Support Program II. The program was created to provide design, engineering and technical support services for Department of Defense (DoD) mission weapon systems, components and support equipment. DRS was selected by the Air Force Materiel Command, Ogden Air Logistics Center at Hill Air Force Base in Utah. Work for DRS's share of this award will be accomplished by the company's DRS Technical Services unit in Beltsville, Maryland. Provision of services on this program will be completed in 2012. The Design and Engineering Support Program II contract will be used to provide laboratory, technical documentation, courseware, systems design, engineering and software development, and environmental, health and safety services. The contract may be used by all other Air Force Commands, the U.S. Army, Navy and Marine Corps, and other government entities, such as NASA, U.S. Departments of Homeland Security, Energy, Justice, Transportation and State, the Environmental Protection Agency, OSHA, the Coast Guard, FAA and FEMA. Orders for DRS are expected to encompass a broad range of engineering related tasks, such as concept exploration, tradeoff studies, systems analysis and specification development, systems design, prototype manufacturing, system integration, testing, modeling and simulation, and engineering and technical documentation. "This new award provides DRS with an additional long-term contract opportunity to support the Department of Defense and many other government agencies," said Mitchell B. Rambler, president of DRS's Technical Services Segment. "Our selection by the Air Force to be part of the Design and Engineering Support Program II team is recognition of our demonstrated capabilities in providing superior technical and engineering services."

Source: DRS Technologies, Inc.
Date: Oct 17, 2006

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