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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: marvin smith who wrote (38542)	1/4/1999 11:09:00 AM
From: SAMOA1	Respond to of 119973

Now is the time to take a position in EGGS. Been waiting for it to dip under 20, looks like it wont.

To: marvin smith who wrote (38542)	1/4/1999 12:12:00 PM
From: Provocateur	Respond to of 119973

DRS BW1306 JAN 04,1999 8:36 PACIFIC 11:36 EASTERN ( BW)(DRS-TECHNOLOGIES)(DRS) DRS Technologies Awarded $41.4 Million Contract to Provide Electro-Optical Systems to the U.S. Army Business Editors PARSIPPANY, N.J.--(BUSINESS WIRE)--Jan. 4, 1999--DRS Technologies, Inc. (ASE: DRS) announced today that it has received a $41.4 million contract from the U.S. Army to provide Horizontal Technology Integration Second Generation Forward Looking Infrared (HTI SGF) Thermal Imaging Systems for the sighting systems of the Abrams M1A2 System Enhancement Package (SEP) and Bradley M2A3 fighting vehicles. Work for this contract will be accomplished by the company's DRS Sensor Systems unit in El Segundo, California, and DRS Optronics unit in Palm Bay, Florida. DRS Sensor Systems was formed as a result of the company's acquisition of a portion of Raytheon Company's Second Generation Ground Electro-Optical Systems business announced on October 21. Also acquired in the transaction was a portion of Raytheon's Focal Plane Array business, renamed DRS Infrared Technologies, located in Dallas, Texas. The contract, awarded by the U.S. Army's Communications-Electronics Command (CECOM) office in Fort Monmouth, New Jersey, is the result of the exercise of an option on an existing multiple-year contract with a total value of approximately $114 million, initially awarded in 1997. Deliveries for this option are scheduled to start in October 1999 and conclude in December 2000. Mark S. Newman, chairman, president and chief executive officer of DRS Technologies, said, "We are pleased to announce the receipt of this sizable contract for HTI SGF Thermal Imaging Systems, which upgrade the Abrams and Bradley vehicles under the Army's Horizontal Technology Integration program. This program is central to the Army's modernization strategy for the 21st century and reflects our customer's confidence in these systems." He continued, "The HTI SGF Thermal Imaging System is a key electro-optical systems program for DRS, which contributed to a record funded backlog of approximately $375 million as of December 31, 1998, the end of our fiscal 1999 third quarter. The company's financial results for the third quarter, which we expect to report in early February, will reflect the addition of DRS Sensor Systems and DRS Infrared Technologies to the company's operations, as a result of the acquisition of these businesses during the period." HTI SGF is comprised of a common electronics unit, thermal receiving unit and biocular image control unit. It allows the gunner of ground vehicles to detect, identify and engage tactical targets during the day or night. The system provides critical TV-quality night vision technology for the success of ground combat operations, contributes to information dominance by providing digital battlefield imagery to commanders, and promotes interoperability among military platforms. The HTI SGF Thermal Imaging System enhances the surveillance ranges for the identification of threats, increases target acquisitions and lethality, and significantly reduces fratricide. The system utilizes a 1553 data bus and is a digital port for trackers and display units. DRS Technologies provides leading edge products and services to government and commercial markets worldwide. Focused on defense electronics, 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 communications, data storage, digital imaging, electro-optics, flight safety and space. The company offers a full complement of technical support and advanced manufacturing services. Additional information is available on the company's web site at www.drs.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, and include, without limitation, demand and competition for the Company's products and other risks or uncertainties detailed in the Company's Securities and Exchange Commission filings. --30--ks/ny*