DRS Receives $101 M 5-Year Contract for LRAS3 Subassemblies

(Parsippany, N.J., April 28, 2008) -- DRS Technologies, Inc. (NYSE: DRS) announced today that it has received an initial order of $36.4 million on a five-year contract with a projected minimum value of approximately $101 million to produce critical subassemblies for the Long Range Advanced Scout Surveillance System (LRAS3) program. The contract was awarded to DRS by the Network Centric Systems business of the Raytheon Company (NYSE: RTN), McKinney, Texas, the prime contractor and final integrator for the LRAS3 program.

The work will be performed by DRS' Sensors & Targeting Systems unit - Optronics Division in Melbourne, Florida. Manufacturing is expected to begin immediately.

LRAS3 is a multi-sensor infrared system enabling real-time detection, recognition, identification and geo-location of distant targets. Army scouts on Stryker and HMMWV platforms use this technology to conduct 24-hour reconnaissance and surveillance, while remaining outside enemy acquisition and fire ranges - a vital improvement over previous generations of LRAS.

Under the contract, DRS will provide such key LRAS3 subassemblies as Forward Looking Infrared (FLIR) systems and Integrated Optical Benches (IOBs).

"This contract ensures that DRS will continue to be a major contributor to the LRAS3 program for the next five years," said James M. Baird, president of DRS' Reconnaissance, Surveillance & Target Acquisition (RSTA) Segment. "We're proud of the role we will continue to play in bringing this technology - widely considered to be the Army's premier ground-combat system for reconnaissance and surveillance - to the modern battlefield."

Source : DRS Technologies Inc.

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