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ATK Awarded Funding Increments Worth $34 Million for Next-Generation Precision Artillery Fuze

Feb 17, 2004

Minneapolis, Feb. 17, 2004 – ATK (Alliant Techsystems, NYSE: ATK) has been awarded two Funding Increments with a combined value of $34 million from the U.S. Army Armament Research, Development, and Engineering Center, Picatinny Arsenal, N.J., to continue production of the Multi-Option Fuze for Artillery (MOFA). The funding increments are:

* A $22 million award representing the third annual procurement under a four-year production contract received in 2002.
* A $12 million award representing the first production option under the basic contract.

The total value of the contract could be worth nearly $170 million if all options are exercised.

MOFA is the U.S. Army’s next-generation, NATO-standard all-purpose artillery fuze for bursting munitions. It is inductively set to detonate by target proximity, time, delay after impact, or upon impact, and is operable with all existing and developmental 105mm and 155mm artillery systems.

ATK Ordnance and Ground Systems, one of the nation’s leading suppliers of advanced fuzes for the U.S. Department of Defense, is producing the MOFA at its manufacturing facilities in Janesville, Wis., Horsham, Penn., and Plymouth, Minn.

The MOFA program recently achieved a significant milestone, completing its pre-qualification phase by demonstrating 100-percent successful ballistic performance on a sample of 48 units.

In addition to artillery fuzes, ATK Ordnance and Ground Systems develops and manufactures precision components for air-to-ground weapons such as the Joint Direct Attack Munition (JDAM) and naval guns. The company is one of four operating units that comprise ATK’s Precision Systems Group.

ATK is a $2.2 billion aerospace and defense company with strong positions in propulsion, composite structures, munitions, precision capabilities, and civil and sporting ammunition. The company, which is headquartered in Edina, Minn., employs approximately 12,600 people and has three business groups: Precision Systems, Aerospace, and Ammunition and Related Products. ATK news and information can be found at www.atk.com.

Certain information discussed in this press release may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: changes in governmental spending and budgetary policies, economic conditions, equity market returns, the company's competitive environment, the timing of awards and contracts, the outcome of contingencies, including litigation and environmental remediation, program performance, and sales projections. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, reference should be made to ATK’s filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.