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Technology Stocks : Signal Technology (now STCO)- a classic turnaround

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Mar 7 3:00 PM EST

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To: Paul Lee who started this subject	8/14/2002 7:10:34 AM
From: Paul Lee	of 191

Signal Technology Awarded Gripen Follow-On Contracts; Company's Defense Group Wins Multiple Awards for Electronic Warfare Super Components and Subsystems BUSINESS WIRE - August 14, 2002 07:01 DANVERS, Mass., Aug 14, 2002 (BUSINESS WIRE) -- Signal Technology Corporation (Nasdaq: STCO) today announced that its Defense Group has won multiple contract awards for multi-function super components and subsystems from a major international contractor. The awards, valued in excess of $1.5 million, are in support of the EWS 39 integrated electronic warfare (EW) system being deployed on the JAS 39 Gripen multi-role fighter aircraft. Signal Technology will manufacture the state-of-the-art electronics at its Arizona and California divisions, with deliveries extending through 2003. "These contracts follow the Company's successful initial development and qualification program for sophisticated microwave multi-function super components and subsystems for this high-performance EW system," said John Cotumaccio, president and chief operating officer of Signal Technology's Defense Group. "In also providing funding for additional product enhancements, the contracts affirm Signal Technology's acceptance by a major prime contractor as a supplier of highly engineered and value-added customer solutions for current and next-generation systems." The JAS 39 Gripen multi-role fighter aircraft has been under development since 1982. The EWS 39 is an integrated EW system that provides radar warning, electronic support measures, and chaff and flare decoy dispensers. Originally developed solely for the Swedish Air Force, the Gripen fighter has been broadly marketed worldwide.

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