DRS Technologies, Inc., a Finmeccanica company (FNC.MI), today
announced, in accordance with the indentures governing its 6-7/8% Senior
Subordinated Notes due 2013 (the "6-7/8% Notes"), 6-5/8% Senior Notes
due 2016 (the "6-5/8% Notes") and 7-5/8% Senior Subordinated Notes due
2018 (the "7-5/8% Notes" and, together with the 6-7/8% Notes and 6-5/8%
Notes, the "Notes"), the results of its offers to purchase any or all of
the outstanding Notes for cash equal to 101% of the principal amount of
such Notes, plus accrued and unpaid interest. The offers to purchase
were governed by the terms and conditions set forth in the applicable
Change of Control Notice and Offer to Purchase, each dated November 21,
2008 (the "Offers to Purchase").
As of 5:00 p.m. EST on January 14, 2009, the expiration date of the
offer with respect to the 6-5/8% Notes, $337,914,150 principal amount of
notes, representing 96.55% of the outstanding principal amount of 6-5/8%
Notes, had been validly tendered by their holders, accepted and
purchased by DRS Technologies pursuant to the offer to purchase. As of
5:00 p.m. EST on January 15, 2009, the expiration date of the offers
with respect to the 6-7/8% Notes and 7-5/8% Notes, $530,279,000
principal amount of notes, representing 96.41% of the outstanding
principal amount of 6-7/8% Notes, and $244,942,000 principal amount of
notes, representing 97.98% of the outstanding principal amount of 7-5/8%
Notes, had been validly tendered by their holders, accepted and
purchased by DRS Technologies pursuant to the applicable offer to
purchase.
This press release does not constitute an offer to buy or the
solicitation of an offer to sell Notes in any circumstances or
jurisdiction in which such offer or solicitation is unlawful.
About DRS Technologies
DRS Technologies, headquartered in Parsippany, New Jersey, is a leading
supplier of integrated products, services and support to military
forces, government agencies and prime contractors worldwide. For more
information about DRS Technologies, please visit www.drs.com.
About Finmeccanica
Headquartered in Italy, Finmeccanica is a leading global high-technology
company with core competencies in the design and manufacture of
helicopters, civil and military aircraft, aero structures, satellites,
space infrastructure, missiles, defense electronics and security. The
company employs about 73,000 people worldwide.
