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PARAVANT WINS SECOND BOWMAN CONTRACT

23 Oct 02. Paravant Inc. (Nasdaq: PVAT – News) announced today that its Paravant Computer Systems (PCS) division has been selected to receive a contract amendment from General Dynamics UK Limited, worth approximately $90m, to supply two new computers, the Vehicle User Data Terminal (VUDT) and the Dismountable User Data Terminal (DUDT), and additional BOWMAN Management Data Terminals (BMDT), in support of the UK BOWMAN program. All three computers will be modified versions of Paravant’s Scorpion Rugged Notebook Computer. Deliveries for this multi-year contract are scheduled to begin this month and continue through early 2007.

This award will be an amendment to a $6.7m contract previously announced on August 5, 2002 for Paravant to provide the BOWMAN Management Data Terminal (BMDT) to General Dynamics UK. The increase in both size and scope of work will bring the total contract value to approximately $96m.

In commenting on the award, Mr. Rick McNeight, President of Paravant’s PCS subsidiary, said, “We are extremely pleased to have been selected to receive this major international award. This selection by General Dynamics UK confirms Paravant as the worldwide leader in digital battlefield technology. We’re proud to be supporting the Armed Forces of the United Kingdom in the modernization of their command, control and communication systems.” (See ‘DRS TO BUY PARAVANT’)

Bill Craven, President and CEO of Paravant added, “We have worked to position ourselves to benefit from the growth in the digital battlefield market worldwide and have begun to see tangible results from these efforts. This award amendment was expected and is in-line with the guidance for FY 2003 and FY 2004 that we provided on September 6, 2002. We are proud to have the opportunity to provide General Dynamics UK with these three vital pieces of equipment in support of the BOWMAN program.”

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