Finmeccanica and DRS Technologies Announce Receipt of CFIUS Approval

ROME & PARSIPPANY, N.J. -- Finmeccanica S.p.A. and DRS Technologies, Inc. announced today that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the proposed merger of DRS with Finmeccanica and is permitting the merger to proceed.>> As announced on May 12, 2008, Finmeccanica and DRS entered into a definitive merger agreement in which Finmeccanica will acquire DRS for US$81 per share. Completion of the CFIUS review was one of the conditions for the consummation of the merger. The merger continues to be subject to customary closing conditions for a transaction of this type, and it is expected that closing will occur in due course.>>> 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 more than 60,000 people worldwide, including 2,100 employees at 32 sites in North America not including DRS.>> 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. The company employs approximately 10,500 people.>> -ends->>