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Technology Stocks : Sensytech Inc (STST)

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To: Paul Lee who wrote (21)	6/6/2003 10:33:09 AM
From: JakeStraw	of 25

Sensytech, Inc. Receives Contract Award of $4.4M for the SLQ-25A Surface Ship Torpedo Defense System Thursday June 5, 8:32 am ET biz.yahoo.com NEWINGTON, Va.--(BUSINESS WIRE)--June 5, 2003--Sensytech, Inc. (NASDAQ:STST), today announced that it has received a contract award of $4.4 million for delivery of subsystem assemblies for the SLQ-25A Surface Ship Torpedo Defense System. The system is used on U.S. Navy surface combatants and select international platforms. Work is expected to be completed by mid FY04. Mr. David Smith, President and COO of Sensytech, Inc., stated, "The timing of this contract award fits nicely with the scheduled completion of our new Manufacturing facility located in Pennsylvania. We have started the hiring process in anticipation of this work to obtain the required staffing and timely fulfill our production training needs. This activity is being performed in our existing Test and Integration facility located within close proximity to our new Manufacturing facility. We are currently in production at this facility for similar SLQ-25A subsystem assemblies. It is our plan to transfer the manufacturing staff to the new facility in late summer 2003."

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