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BAE SYSTEMS North America Completes Acquisition Of MEVATEC Corporation

21 Mar 2003

BAE Systems North America today completed its acquisition of MEVATEC Corporation of Huntsville, Alabama, following receipt of all regulatory approvals. The $82 million cash transaction, which includes an element of potential deferred consideration, complements BAE Systems established business and expands the company's professional services and engineering technology operations.

MEVATEC is a fast-growing provider of professional technical services to the Department of Defense; civilian, federal, state, and local government agencies; and commercial businesses. MEVATEC is a leader in missile defense, joint interoperability, outsourcing, and business process re-engineering.

"MEVATEC is a great business and a good strategic fit for our company," said Bruce Hamilton, president of BAE Systems Technology Solutions Sector. "Additionally, the acquisition enhances our ability to provide high-end services for our growing systems engineering and technical assistance customers."

In addition to its headquarters in Huntsville, MEVATEC has facilities in 13 other locations across the United States and employs 500 people. MEVATEC had 2002 revenues of approximately $120 million.

MEVATEC Corporation will change its name to BAE Systems Analytical Solutions, and operate as a business unit within BAE Systems Technology Solutions Sector, which is headquartered in Rockville, Maryland. MEVATEC chief executive officer Nancy Archuleta will serve as president of Analytical Solutions, retaining the existing management.

Archuleta stated, "Our decision to be acquired by BAE Systems comes at a pivotal time in our history. In order to better serve our customers, we sought to solidify our own impressive credentials with those of a world-class organization. And we are fully confident that we have done that with BAE Systems."

About BAE SYSTEMS:

BAE Systems is a systems company, innovating for a safer world. BAE Systems employs nearly 100,000 people including joint ventures, and has annual sales of around 12 billion.

The company offers a global capability in air, sea, land, and space with a world-class prime contracting ability supported by a range of key skills.

BAE Systems designs, manufactures, and supports military aircraft, surface ships, submarines, radar, avionics, communications, electronics, guided weapon systems, and a range of other defence products. BAE Systems is dedicated to making the intelligent connections needed to deliver innovative solutions.

BAE Systems North America is a high-technology U.S. company employing more than 22,000 Americans who live and work in some 30 states and the District of Columbia. The company is dedicated to solving its customers' needs with highly innovative and leading edge solutions across the defence electronics, systems, information technology, and services arenas.