DRS Technologies, Inc., a subsidiary of Finmeccanica S.p.A. (FNC.MI), today announced that it successfully has completed its consent solicitation for its 6-7/8% Senior Subordinated Notes due 2013, 6-5/8% Senior Notes due 2016 and 7-5/8% Senior Subordinated Notes due 2018 (the "Notes"). Pursuant to the consent solicitation, DRS Technologies solicited the consent of bondholders to amendments (the "Proposed Amendments") that would modify the reporting covenant in each indenture governing the Notes. As a result of the adoption of the amendments, the company will not need to file reports with the U.S. Securities and Exchange Commission. The company instead will provide holders of the Notes the parent company’s (Finmeccanica’s) consolidated annual and interim financial reports.

As of 5:00 p.m. New York City time on December 19, 2008, the expiration time of the consent solicitation, DRS Technologies had received consents from the holders of a majority in aggregate principal amount of all three series of Notes.