Two export contracts with NAMSA and RAYTHEON – Company’s exports exceeded 65% of its 2007 turnover

March 17, 2008: INTRACOM Defense Electronics, the largest defense electronics systems manufacturer in Greece, has signed two new export contracts with RAYTHEON and NAMSA (NATO Maintenance and Supply Agency), which at their initial phase amount to $ 1.5 million.

The company will build and develop the software for the control terminal of RAYTHEON’s naval close-in-support weapon system PHALANX and the necessary control infrastructures of the electronic units of the system. This agreement extends the cooperation between the two companies in the related program and renews RATHEYON’s trust in the know how and expertise of INTRACOM Defense Electronics, while setting the ground for the signing of a framework contract, which will cover the production requirements for PHALANX systems globally.

As far as the contract with NAMSA is concerned, INTRACOM Defense Electronics, following a tender, assumed responsibility for the inspection and the service of the actuators of the launchers of the PATRIOT long-range air defense systems, which are installed in Europe. This agreement, which extends the current framework contract, is very important as it gives a considerable prospect to the company to undertake the operation of the Depot Level Maintenance for PATRIOT systems in Greece that NAMSA plans to develop.

These two contracts further enhance the international activities of INTRACOM Defense Electronics, whose exports exceeded 65% of its 2007 turnover.