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ATK and Hellenic Arms Industry Agree to Co-Produce Tank Ammunition in Support Of Major Armor Procurement

Oct 4, 2000

ATK (NYSE: ATK) (Alliant Techsystems), said it has signed an exclusive agreement with Hellenic Arms Industry (EBO), Athens, Greece, under which ATK will transfer to EBO the technology to produce ATK's family of 120mm tactical and training tank ammunition at EBO's manufacturing facility in Greece.

The agreement is in support of an upcoming procurement of 246 main battle tanks by the Hellenic Ministry of Defense as part of an initiative to upgrade the nation's armored forces. It is expected that the tanks will have smooth-bore 120mm guns, which will accommodate ATK's 120mm training and tactical ammunition.

Nick Vlahakis, group vice president, Conventional Munitions, said ATK is pleased to be a partner with EBO in providing for the defense of an important U.S. ally.

"With more than two million rounds delivered since 1985, the design, development, and high-volume production of tank ammunition is one of ATK's most important core capabilities," said Vlahakis. "We are pleased to share this technology with the government of Greece as it prepares to strengthen its tank forces."

Hellenic Arms Industry, which is owned by the government of Greece, manufactures light weapons and ammunition for use by the country's military forces.

ATK announced yesterday that it received a contract valued at approximately $1 million from Hellenic Arms Industry to provide hardware and assembly technology for lightweight 30mm (LW30mm) high-explosive dual-purpose (HEDP) tactical and training ammunition for use by Greek army AH-64 Apache attack helicopters.

ATK is the largest supplier of conventional munitions to the U.S. and allied nations. The company reported sales of $1.1 billion in its most recent fiscal year and has leading market positions in munitions, smart weapons and precision capabilities, propulsion, and composite structures. Headquartered in Hopkins, Minn., ATK employs approximately 6,400 people and has three business segments: Conventional Munitions, Aerospace, and Defense Systems. ATK news and information can be found on the Internet at http://www.atk.com/

SOURCE: ATK

Contact: Media, Rod Bitz, 612-931-5413, E-mail rod_bitz@atk.com, or
Investors, Mark Mele, 612-931-6367, E-mail mark_mele@atk.com, both of ATK