Company Profile - DRS Optronics, Inc.

Overview

DRS Optronics is a division of DRS Technologies, Inc., a leading supplier of defense electronic systems. We provide high-technology products and services to government and commercial markets worldwide. 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 combat information, communications, data storage, digital imaging, electro-optics, flight safety and space.

Our defense electronics systems are sold to all branches of the U.S. military, government intelligence agencies, major aerospace/defense contractors, international military forces and a wide range of commercial customers.

We also offer a full complement of technical support and advanced manufacturing services. Our commercial and industrial products are used by the airline, banking, computer disk drive, security, transportation, retail sales and broadcast industries.

We are located in Palm Bay and Melbourne, FL.

DRS Optronics, Inc. is an equal opportunity/affirmative action employer. Applicants are considered without regard to race, color, religion, creed, gender, national origin, age, disability, marital or veteran status, or any other legally protected status.

Benefits

We are committed to recruiting and retaining the best talent in the defense/aerospace industry and niche commercial technology areas. We offer an exciting and challenging work environment, a competitive salary and benefits package, and a business culture that rewards performance. DRS Optronics, Inc. is an equal opportunity/affirmative action employer. Applicants are considered without regard to race, color, religion, creed, gender, national origin, age, disability, marital or veteran status, or any other legally protected status. Applicants please note: It is the policy of DRS Optronics to exclusively accept resumes electronically.

Vision

It is the mission of DRS Technologies to be a leading, mid-tier defense technology company by earning the respect of our customers, suppliers, competitors and fellow employees through our commitment to the highest standards of ethics, quality and responsiveness. We also work to enhance stockholder value through our commitment to internal growth and to the acquisition of companies that complement our business, expand our market position or benefit from the transfer of our technologies.

It is the vision of DRS Technologies to be a leading, mid-tier defense technology company providing advanced products and services to both government and commercial customers worldwide.

News

Finmeccanica Completes Acquisition of DRS Technologies for 5.2 billion U.S. dollars

Rome (Italy) and Parsippany (NJ-USA) - Finmeccanica, S.p.A. (Milan: FNC) ("Finmeccanica"), a world leader in the aerospace, defense and security industry, announced today to have successfully completed its acquisition of DRS Technologies, Inc. ("DRS"), a leading supplier of integrated defense electronics products, services and support. The acquisition received all the required regulatory approvals as well as the approval of DRS shareholders.

Finmeccanica purchased all outstanding shares of DRS for 81 U.S. dollars per share in cash. The enterprise value of the transaction is 5.2 billion U.S. dollars, including the assumption of approximately 1.6 billion U.S. dollars in outstanding indebtness (including the convertible notes). DRS will be known as DRS Technologies, a Finmeccanica Company.

"Today begins a new era for Finmeccanica", said Pier Francesco Guarguaglini, Chairman and Chief Executive Officer of Finmeccanica. "The acquisition of DRS further solidifies our position as a top-tier international competitor and reinforces our commitment to the U.S. market, industrial base and, most importantly, the American armed forces, establishing a strong transatlantic Defence Electronics capability".

"Finmeccanica's investment in DRS will allow the company to increase new business opportunities globally, accelerate growth while strengthening our presence in the United States", said Mark S. Newman, Chairman of the Board and Chief Executive Officer of DRS. "With an increased emphasis on research and development, DRS will continue to create new and innovative products that provide the American armed forces superior technology and value".

DRS will operate as a U.S. subsidiary of Finmeccanica under agreements with the U.S. Department of Defense, including a plan to mitigate foreign ownership control and influence (FOCI).

About Finmeccanica

Headquartered in Italy, Finmeccanica is a leading global high-tech company with core competencies in the design and manufacture of helicopters, civil and military aircraft, aero structures, satellites, space infrastructure, missiles and defense electronics and security. The company employs more than 60,000 people worldwide, including 2,100 employees at 32 sites in North America - not including DRS. For more information about Finmeccanica, please visit the company's website at www.finmeccanica.com.

About DRS Technologies

DRS Technologies, headquartered in Parsippany, New Jersey-USA, is a leading supplier of integrated products, services and support to military forces, government agencies and prime contractors worldwide. The company employs approximately 10,500 people. For more information about DRS, please visit the company's website at www.drs.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on management's beliefs and assumptions, current expectations, estimates and projections. Such statements, including statements relating to the combined Company's expectations for future financial performance, are not
considered historical facts and are considered forward-looking statements under the federal securities laws. These statements may contain words such as "may," "will," "intend," "plan," "project," "expect," "anticipate,""could," "should," "would," "believe," "estimate," "contemplate," "possible" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements and include, without limitation, demand and competition for the Company's products and other risks or uncertainties. Given these uncertainties, you should not rely on forward looking statements. Such forward-looking statements speak only as of the date on which they were made, and the Company undertakes no obligations to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Products

DRS Technologies, Inc. is organized into three operating segments: The Electronic Systems Group (ESG), the Electro-Optical Systems Group (EOSG) and the Flight Safety and Communications Group (FSCG). World class engineering, production and management teams and state-of-the-art manufacturing facilities provide a competitive edge for customers through five dynamic business areas: Avionics, Communications, Electronics, Electro-Optics and Commercial Products.

DRS's Electronic Systems Group is an international leader in the development, production and support of high-performance combat display workstations, digital information processing systems and rugged computers for sea, air and land applications. ESG utilizes leading edge commercial computing technology to provide innovative, rapidly fielded, cost-effective system solutions for enhancing the military's ability to attain information dominance of the digital battle space. These systems offer shorter product development cycles, lower maintenance costs and faster technology insertion to ensure a high level of military force readiness. Significantly, our electronic systems provide compatibility with new and legacy systems and are vital links in the military's network-centric vision for theater warfare and strategic command decisions. ESG has a strong contract base of computer workstation, portable rugged computer, radar system, shore surveillance and sensor system, and electronic manufacturing, system integration, testing and technical support programs. With systems operating throughout U.S. Navy front-line Aegis surface ships, attack submarines, aircraft carriers, surveillance aircraft and amphibious operation platforms, DRS has become an established leader in hardware and software defense computing solutions. Through ESG, DRS has attained a key role in the supply and integration of advanced electronic information processing and display systems that provide U.S. and international forces the edge in situational awareness, communications, strategic deterrence and survivability. ESG provides products and services for DRS Technologies' customer base within the Electronics, Communications and Avionics business areas.

DRS's Electro-Optical Systems Group is a leader in Second Generation night vision sighting and targeting systems used on the most critical front-line U.S. Army ground vehicle and weapons platforms in existence and also provides advanced electro-optical systems for ground troop, airborne, maritime, and commercial applications. EOSG incorporates advanced, forward looking infrared imaging technology in armored and reconnaissance vehicles, helicopters and surface ships, dramatically increasing target detection and acquisition performance, stand-off ranges and crew survivability. As one of only two key suppliers to the U.S. government for advanced night vision technology, EOSG produces multi-color infrared sensors for ground sighting, surface and air search, satellites and missile guidance systems. This technology provides clear visual imagery from long ranges, regardless of light level, smoke, dust and other battle space obscurants that can cripple the mobility, reactions and missions of heavy materiel. EOSG is also a leader in cooled and uncooled Focal Plane Array technology (FPAs), cryogenics and cooler assemblies, laser-based products, diamond-turned components, optical coatings and lenses/mirrors for military applications. The group provides state-of-the-art advanced electro-optical manufacturing services for commercial products, as well, including modules for the LADARVision® system used in laser eye surgery and is the exclusive North American manufacturer for the Panoramic 200® Retinal Imaging Scanner. EOSG provides products and services for DRS Technologies' customer base within the Electro-Optics and Commercial Products business areas.

DRS's Flight Safety and Communications Group is a world leader in deployable flight incident recorder and emergency locator beacon systems used by military and commercial search and rescue aircraft to locate crash sites. Thousands of these systems have been provided to over 20 countries around the world, in addition to NATO forces. More advanced than the traditional "black box" recorder, our deployable systems eject from the outside of the aircraft at the time of an incident, landing to safety on the ground or floating indefinitely in water. Emitting a beacon signal once settled, these systems speed search and rescue teams to the site and provide easy recovery of the recorded data. FSCG is also a leading international supplier of integrated naval ship communications and information management systems, high-performance avionics, cockpit video and mission recording systems, ship and ground battle space surveillance radar, and high-speed digital imaging systems. A world leader in Link 11 data communications systems, which are crucial for tactical command and control data exchange among ship, shore and air platforms, FSCG holds a strong portfolio of contracts for advanced electronic manufacturing services supporting tactical, reconnaissance, training and space-based system applications. For fast-paced complex joint operations involving communications with airborne, surface ship, undersea and satellite platforms, FSCG has applied unique 3-D audio algorithms to ship communications systems to spatially separate four audio channels and enhance acoustics to support command and decision functions. FSCG provides product and services for DRS Technologies' customer base within the Avionics, Communications, Electro-Optics, Electronics and Commercial Products business areas.

Contact

Please direct additional information, comments or suggestions to info@drs.com.

Applicants please note: It is the policy of DRS Optronics to exclusively accept resumes electronically.