RADA Electronic Industries Ltd. (RADI)

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Eating my hat,

Lockheed Martin Aeronautics Selects Smiths and Subcontract Partner, RADA, to Provide Digital Video Recorder and Ground Debriefing Systems for the F-16 Peace Xenia IV and Future FMS Programs
Monday July 17, 9:00 am ET
The Lockheed Selection Positions RADA as Major Supplier of Airborne Digital Video Recorders and Ground Debriefing Systems


NETANYA, Israel, July 17 /PRNewswire-FirstCall/ -- RADA Electronic Industries Ltd. (NASDAQ: RADI - News) announced today that it was formally notified by Smiths Aerospace that Lockheed Martin Aeronautics has concluded the evaluation and source selection for the procurement of the Digital Video Recorder (DVR), the Removable Data Cartridge (RDC), and the Ground Debriefing Station (GDS) in Support of the F-16 Peace Xenia IV Program with an option for future F-16 sales. Smiths Aerospace has been selected for the program, with a subcontract to RADA. The RADA Electronic Industries subcontract for the Peace Xenia IV program exceeds $1.7 million.

Lockheed Martin Aeronautics' selection of the Smiths Aerospace - RADA DVR and GDS for the F-16 follows the Boeing Company selection of the same products in support of the US NAVY T-45 Digital Video Recorder and Processor (DVRP) and other significant programs currently performed by RADA . Smiths Aerospace and RADA estimate that the 10,000+ VTRs that are currently installed on various aircrafts will be replaced by digital recorders.

Commenting on the selection, Maj. Gen. (Res.) Herzle Bodinger, RADA's Chief Executive Officer said, "This award further strengthens our excellent relationship with Smiths, that was established over 8 years ago and is currently manifested in joint development and production programs, as well as marketing activities. The Lockheed selection indicates that our strategy in penetrating the US market through cooperation with American partners is correct."

Zvi Alon, RADA's V.P. of Business Development said, "This award is the first time when a RADA developed unit is selected to be part of the baselineF-16 configuration. We are proud to have our products installed on both Lockheed Martin Aeronautics and the Boeing Company aircraft".

About RADA

RADA Electronic Industries Ltd. is an Israel based company involved in the military and commercial aerospace industries. The Company specializes in Avionics systems (Digital Video Recorders, Ground Debriefing Stations, Stores Management Systems, Flight Data Recorders, Inertial Navigation Systems), Trainers Upgrades, Avionics systems for the UAV market, and Electro optic cameras for airplanes and armoured vehicles.

http://biz.yahoo.com/prnews/060717/ukm009.html?.v=66

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