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BAE SYSTEMS Completes Acquisiton Of Practical Imagineering

16 Aug 2004

ROCKVILLE, Md. -- BAE Systems North America today completed its acquisition of Reston, Virginia- based Practical Imagineering, Inc. The results of the $8.3 million cash transaction will complement BAE Systems technology capabilities in information operations.

Practical Imagineerings 30 engineers and scientists are proven performers in the field of digital signal processing systems and software research and development. Their applications and products are ideally suited to time-critical, real time signal processing a key task in DoDs net-centric operations, said Galen Ho, president, BAE Systems Information and Electronic Systems Integration (IESI).

The acquisition of Practical Imagineering is consistent with BAE Systems strategy of acquiring profitable, growing businesses with strong, differentiated technology that will enable BAE Systems to bolster its capabilities and provide integrated solutions for major customers.

Practical Imagineering facilities will remain in Reston and operate within the Electronic Warfare/Information Warfare line of business, headquartered in Nashua, N.H.

About BAE SYSTEMS

BAE Systems North America is a high-technology U.S. company employing more than 25,000 people who live and work in some 30 states, the District of Columbia, and the United Kingdom. The company is dedicated to solving its customers needs with highly innovative and leading edge solutions across the defense electronics, systems, information technology, and services arenas.

The Information and Electronic Systems Integration (IESI) Sector is a leading designer, developer and manufacturer of a wide range of electronic systems and subsystems for both military and commercial applications. The Sectors 9,300 employees, who work at 16 major facilities in eight states and Israel, provide products and services in four major lines of business and one business unit: Electronic Warfare/Electronic Protection; Electronic Warfare/Information Warfare; Integrated Defence Solutions; Mission Electronics; and Communication, Navigation, Identification and Reconnaissance.

BAE Systems is an international company engaged in the development, delivery and support of advanced defence and aerospace systems in the air, on land, at sea and in space. The company designs, manufactures and supports military aircraft, surface ships, submarines, radar, avionics, communications, electronics and guided weapon systems. It is a pioneer in technology with a heritage stretching back hundreds of years. It is at the forefront of innovation, working to develop the next generation of intelligent defence systems.

BAE Systems has major operations across five continents and customers in some 130 countries. The company has more than 90,000 people and generates annual sales of approximately 12 billion through its wholly-owned and joint venture operations.

BAE Systems, innovating for a safer world.