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DRS Test & Energy Management, Inc, is a leading designer, integrator and producer of diagnostic, test and energy management systems for combat vehicles and weapon systems supporting conventional and nuclear U.S. arsenals. We have led the development of defense electronics for the enhancement of combat vehicle performance, mobility, readiness, fuel efficiency, stealth capability, electric power and survivability, and are a leading provider of missile diagnostic and test equipment.

Our automated test equipment, tests and diagnoses faults of the electronic and electro-optical components for all variants of the Army’s M1 Abrams Main Battle Tanks, M2A3 Bradley Fighting Vehicles and Marine Corps’ Light Armored Vehicles (LAVs). This equipment also is used to test strategic weapon systems, including the Minuteman III Intercontinental Ballistic Missiles, Line of Sight Anti-Tank (LOSAT) System and Low Altitude Navigation and Targeting Infrared for Night (LANTIRN) System for the F-14 Tomcat, F-15 Eagle and F-16 Falcon aircraft. We also develop the test sets and software validation solutions used to maintain and software programming to these platforms. Our systems serve the U.S. Army, Marine Corps and Air Force, as well as allied international forces.

DRS Test and Energy Management, Inc. also provides embedded diagnostics and vehicle electronics, including diagnostic processors, drive-by-wire, video distribution systems, displays, power distribution systems, power supplies and mine clearing blade control, and vehicle electronics upgrades. We are providing our Sidecar™ embedded diagnostic system to the Army Active Component and the National Guard M1A1 AIM Abrams Main Battle Tank fleet, which adds Line Replaceable Unit (LRU) – level fault detection and isolation.

For energy management, we produce dual-use hybrid power systems that replace conventional drive trains for increased fuel efficiency, improved mobility and for operation of Directed Energy Weapons (DEWs). These systems successfully operate on the Army’s High-Mobility Multipurpose Wheeled Vehicles (HMMWVs). Utilizing this technology, DRS Test and Energy Management, Inc. is providing the battlefield power required for the Solid-state Heat Capacity Laser System program for the Army and the High Power Microwave Active Denial System program for the Air Force Research Laboratory. We also are participating in the upgrade of the Multiple Launch Rocket Systems for the United Kingdom’s Ministry of Defense. Our hybrid power systems have future potential for military applications across current, interim and future combat vehicle fleets, including robotic vehicles, as well as for other applications, such as commercial delivery vehicles. For the Army’s Future Combat System, we have developed the hybrid drive train and vehicle concepts for two unmanned robotic vehicles.

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.

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