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To: Frederick Langford who wrote (37583)	12/19/2001 3:28:30 PM
From: SpinCity1	Respond to of 208838

I think uncle sam is the big client HAWTHORNE, Calif.--(BUSINESS WIRE)--Oct. 22, 2001--OSI Systems Inc. (Nasdaq:OSIS.Q) today announced that its subsidiary RapiTec Inc. has been awarded an $11 million subcontract for the production of Multiple Integrated Laser Engagement System (MILES) components for the Apache Helicopter (AH-64D) Longbow Tactical Engagement Simulation System (TESS). The prime contractor under the U.S. Army Simulation, Training and Instrumentation Command (STRICOM) Omnibus Contract is Mesa, Ariz.-based Inter-Coastal Electronics. RapiTec was awarded this contract and will deliver through an exclusive relationship with DRS Optronics, a wholly owned subsidiary of DRS Technologies (AMEX:DRS.A). Shipments will begin by June 30, 2002, and are scheduled to last through June 30, 2003. RapiTec will be building components for the Longbow Apache that will ultimately simulate the weapons effects of Hellfire missiles and 30-mm cannons on Apache helicopters. "While we have experienced significant recent interest in our Rapiscan security products business, this RapiTec award is a major achievement for our nonsecurity, optoelectronic manufacturing business segment, and highlights OSI Systems' success at developing diversified products," said Deepak Chopra, OSI Systems' chief executive officer. "The award of this program demonstrates the success our talented team at RapiTec has achieved. Our OEM business tends to be driven by military and defense spending, where our products are usually used in sensor-based assemblies for various weapons and aerospace programs," Chopra added. Incorporated in 1999 as a subsidiary of OSI Systems, RapiTec (www.rapitec.com) was founded in order to capitalize on the opportunities present in the emerging weapons simulation sector. Since then, the company has emerged as a leading vendor of MILES-based components to various branches of the U.S. armed forces. The company's products leverage OSI Systems silicon photodetector foundry and manufacturing capabilities in conjunction with internally developed 904 nanometer coded laser modules. Wayne Magill, RapiTec's chief operating officer, said: "We are pleased to be teamed with DRS Optronics in an exclusive partnership to manufacture and field the Longbow Apache laser rangefinder designator. This is an important program to both of us in meeting the U.S. Army's aviation training requirements. This is our first major contract for this product line, and we look forward to expanding it into international markets as well." To conduct effective force-on-force training against a simulated hostile threat, the U.S. Army relies on MILES eye-safe lasers to conduct realistic direct fire engagements. This provides a means for combat crews to conduct simulated combat operations laser components that can be used in training exercises at the three combat training centers or at home stations, where AH-64D Apache helicopters are deployed. Delivery of this training capability immediately enhances the U.S. Army's training capability, thus increasing the combat effectiveness of Longbow Apache crews worldwide. About OSI Systems Inc. OSI Systems is a diversified global developer, manufacturer and seller of optoelectronic-based components and systems. The company has more than 30 years of optoelectronics experience, and through its family of subsidiaries, competes in four specific growth areas: OEM Manufacturing, Security, Medical and Fiber Optics. For more information about OSI Systems or any of its subsidiary companies, visit www.osi-systems.com. "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical facts are forward-looking statements that are subject to risks and uncertainties including those risks detailed in the company's Securities and Exchange Commission filings that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. In addition to the factors discussed in the filings with the SEC, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. --30--WAM/la* MW/la CONTACT: OSI Systems Inc., Hawthorne Ajay Mehra, 310/978-0516 or Typhoon Capital Consultants LLC, Santa Monica Sanjay Sabnani, 310/399-4059 KEYWORD: ARIZONA CALIFORNIA INDUSTRY KEYWORD: AEROSPACE/DEFENSE GOVERNMENT MANUFACTURING TELECOMMUNICATIONS TRANSPORTATION SOURCE: OSI Systems Inc. Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 2001, Business Wire