New export achievement worth US $15 million for INTRACOM Defense Electronics in NATO program / In 2006, 93% of the company’s new projects came from abroad

May 16, 2007: Following an international tender, INTRACOM Defense Electronics, subsidiary of INTRACOM HOLDINGS Group, has been awarded the manufacturing of additional electronic units regarding the NATO ESSM (Evolved SeaSparrow Missile) ground-to-air missile. The award has been announced during the 85th Convention of NATO’s Steering Committee of the multinational program ESSM, held in Athens on May 9-15 and attended by representatives from10 member-countries of the consortium.

The project, worth US $15 million has been awarded to INTRACOM Defense Electronics by Raytheon company and will be implemented gradually until 2010. The procedures, conducted by Raytheon on behalf of NATO’s consortium, concerned two international tenders where companies from 10 member-countries of the consortium participated. The proposals of INTRACOM Defense Electronics were considered the most complete and competitive for the consortium and the projected savings will reach US $1 million until the completion of the project in year 2010.

It is worth mentioning that within the frame of the convention, NATO’s ESSM Program Manager and Raytheon’s executives visited INTRACOM Defense Electronics premises, as the company participates in the design and development of ESSM’s electronic units since 1995.

After the visit Captain Carlson, NATO’s Program Manager from the SeaSparrow Program Office, declared: “INTRACOM Defense Electronics has proven that it is a reliable and competitive partner through its participation in the design, development and production of the Evolved SeaSparrow Missile and we have shared a long and successful cooperation, which is now expanding. “

Mr. Troullinos, INTRACOM Defense Electronics CEO, said: “With a considerable technological background, competitive products and specialized know-how, INTRACOM Defense Electronics is a worth ambassador of the Greek defense technology. As a result of this international recognition, 93% of our new contracts in the year 2006 concern export activities.”