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| REMEC Announces Longbow Lot 5 Production Award |
SAN DIEGO, July 29 /PRNewswire-FirstCall/ -- REMEC, Inc. (Nasdaq: REMC) today announced that it has received a $9.1 million subcontract from Northrop Grumman Corporation for the Lot 5 production release for the Longbow Hellfire Missile Program. REMEC will deliver nine different microwave products including integrated microwave oscillators, filters, and mixers under this production follow-on subcontract for a total quantity of over 20,000 microwave products. Deliveries will commence starting in November 2003 and are scheduled to complete in April 2005. When the Lot 5 production is completed, REMEC will have delivered over 150,000 microwave products for the Longbow missile program since the beginning of production. In addition to the Longbow missile program, REMEC produces two complex microwave assemblies for the Longbow Apache Radar program. The missiles and the radar system are deployed on the U. S. Army AH-64D and the United Kingdom Army WAH-64 Apache helicopters. The Apache Longbow "fire and forget" missile and radar systems were recently used in Operation Iraqi Freedom, helping give coalition forces a superior technology driven advantage. "We're very proud of our Defense Microwave team as they continue to achieve sequential record levels of performance," said Ronald E. Ragland, REMEC's Chairman and CEO. "We expect continued growth through our differentiating technology leadership." This work will be performed by the REMEC Defense & Space Group with headquarters located in San Diego, California. The REMEC Defense & Space Group employs over 1,000 people developing and producing advanced microwave products for defense and avionics systems for radar, electronic warfare, communication, navigation and identification systems. About REMEC REMEC provides design and manufacture of microwave and millimeter wave subsystems used in the transmission of voice, video and data traffic over wireless communications networks and provides advanced microwave subsystem solutions for defense and space electronics applications. REMEC is located at 3790 Via de la Valle, Del Mar, CA 92014. For more information, visit the company's Web site at http://www.remec.com or call (858) 505-3713. Statements in this press release that are not historical are forward-looking statements, which involve known and unknown risks and uncertainties. Actual results could differ materially from those implied by such forward-looking statements due to a variety of factors, including, general economic conditions, competition, development factors, operating costs and other risks and uncertainties that are detailed form time to time in our filings with the Securities and Exchange Commission. SOURCE REMEC, Inc.
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