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ATK Wins New Fuze Contract with Potential Value of $54 Million

ATK Strengthens Leadership Position in Air-to-ground Bomb Fuzes *ATK Fuzes Will Fly on JDAM, Additional Precision Weapons

Sep 22, 2004

Minneapolis, September 22, 2004 – ATK (NYSE: ATK) has received an initial $10 million production contract from the Naval Air Systems Command, Patuxent River, Md., for FMU-139C/B bomb fuzes. With options, the contract could exceed $54 million over the next two years. The award strengthens the company’s position as a leading provider of fuzes for the U.S. military and its allies and supports its growing capability to develop and deliver integrated ordnance systems.

The FMU-139C/B is an electronic impact/impact delay fuze designed for use by both U.S. Navy and Air Force guided and unguided, high-explosive bombs. It is the primary fuze for such bombs as the Joint Direct Attack Munition and Paveway Laser Guided Bomb.

In addition to the FMU-139C/B, the contract contains options for FZU-48/B air driven, turbine alternators, the power source for the fuze in the Air Force configuration.

ATK is a $2.4 billion advanced weapon and space systems company employing 13,100 people in 23 states. News and information can be found on the Internet at www.atk.com.

Certain information discussed in this press release constitutes 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.