DRS Technologies Receives $34 Million in New Contracts to Provide Power Equipment for U.S. Navy...

PARSIPPANY, N.J. -- DRS Technologies, Inc. (NYSE: DRS) announced today that it was awarded several new contracts with a combined value of approximately $34 million to design and produce power conversion, distribution and control equipment, and advanced propulsion equipment for next-generation and

existing classes of U.S. Navy combatant surface ships and submarines. E[acute accent]The contracts were awarded to DRS by the Naval Sea Systems Command (NAVSEA) in Washington, D.C., Defense Advanced Research Projects Agency (DARPA) in Arlington, Virginia, and various U.S. Navy shipyards and prime defense contractors. For these orders, DRS will design, manufacture and test advanced instrumentation and control, power distribution and shipboard propulsion equipment for both low- and medium-voltage shipboard conventional and nuclear powered electric plants supporting U.S. Navy combatant submarines and surface ships. DRS also will perform significant after-market repair activity for electric plant control and monitoring system components. E[acute accent]Work for these contracts will be performed by the company's DRS Power & Control Technologies unit in Milwaukee, Wisconsin, and Danbury, Connecticut, DRS Power Technology unit in Fitchburg, Massachusetts, and DRS Electric Power Technologies unit in Hudson, Massachusetts. Work for these contracts will continue through September 2009. E[acute accent]"The receipt of these new contracts supports our strategic intent to become a full line supplier of complete shipboard electric power plant systems, including control, distribution and propulsion equipment and all associated integration and support services for new and updated legacy fleets," said Steven T. Schorer, president of DRS's C4I Group. "The systems and components built by DRS under these and other contracts are vital to current and future classes of surface and submarine combatants. As a key supplier of integrated power systems equipment to the U.S. Navy shipbuilding industry, DRS is a leading force in shaping the future of the Navy's high-performance, integrated electrical systems and in providing critical power technology refresh for the existing fleet." E[acute accent]DRS's power equipment is integral to shipboard electrical distribution and integrates advanced monitoring and control of main propulsion, ship auxiliaries and other equipment across the electric plant. It will facilitate realization of the U.S. Navy's vision of an electric warship utilizing a common ship power system architecture that can transfer electric power from propulsion and ship service systems to advanced electric weapons, sensors and countermeasures. The company's integrated power systems equipment will provide increased efficiency, reliability and commonality of an electric ship architecture, leading to new, stealthier hull forms, reduced reliability on logistics support, enhanced plug-and-play maintainability, larger payload capacity and reduced crew sizes. Development of the electric warship will provide an affordable leap-ahead capability, allowing U.S. Navy forces to maintain technical superiority in the 21st century. Additionally, DRS is leveraging its extensive experience in electric drive technology through its ongoing development under the Tango Bravo program of advanced shaftless propulsion technology for next-generation undersea vehicles. E[acute accent]DRS is a leading supplier of high-performance power generation, conversion, electric propulsion and distribution equipment, networks, control systems, tactical displays and specialty nuclear reactor plant instrumentation for the U.S. Navy's combatant fleet and specialized industrial customers. The company has installed equipment on every U.S. Navy combatant ship since World War II, including nuclear-powered and conventionally-powered ships. E[acute accent]DRS Technologies, headquartered in Parsippany, New Jersey, is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company employs approximately 10,000 people. E[acute accent]For more information about DRS Technologies, please visit the company's web site at http://www.drs.com.