ATK and Germany's Rheinmetall DeTec Sign Agreement to Combine Activities In Ammunition and Weapons Businesses

Joint Venture Will Create a Global Armament Company



Apr 27, 2001, 01:00 ET from ATK

    MINNEAPOLIS and RATINGEN, Germany, April 27 /PRNewswire/ --
     ATK (NYSE:   ATK)(Alliant Techsystems), Hopkins, Minn., and Rheinmetall
 DeTec AG, Ratingen, Germany, announced today they have signed a memorandum of
 agreement (MOA) to form a joint venture company by combining their activities
 in the areas of medium-caliber and large-caliber ammunition, fuzing, and
 weapons.  The joint venture is subject to regulatory approval in the U.S.,
 Germany, and other customer countries.
     Paul David Miller (PDM), ATK chairman and chief executive officer, said,
 "The joint venture will bring together complementary technical and production
 capabilities of two of the world's premier weapons and munitions companies.
 These combined attributes will give us the ability to provide enhanced
 capabilities and better solutions in meeting the changing mission requirements
 of military forces."
     Dr. Ernst-Otto Kramer, chairman of Rheinmetall DeTec, said, "This merger
 is an important step to improve trans-Atlantic cooperation on the industrial
 level and enhance our capability to serve customers."
     The joint venture is a natural follow-on to a long history of successful
 cooperation on munitions programs between ATK and Rheinmetall.  In 1979,
 Rheinmetall transferred the technology for a family of 120mm smooth-bore tank
 ammunition to ATK, which has since produced and delivered nearly three million
 rounds to the U.S. and allied nations.
     In October 2000, the two companies announced a teaming agreement under
 which they are jointly developing next-generation large-caliber ammunition
 types for use by future armored vehicles and current main battle tanks.
 Products will include 105mm high-explosive and kinetic-energy smooth-bore
 ammunition and 120mm high-explosive smooth-bore tank ammunition.
     Rheinmetall DeTec AG is the lead company of the Rheinmetall Group's
 defense division.  The division has sales of 1.6 billion Euro and employs
 approximately 9,000 people.  Principal business areas include large-caliber
 and medium-caliber weapons and ammunition, surface/sub-surface anti-mine
 systems, simulation and training systems, vehicle systems, air defense
 systems, and vetronics and drones.  Further information on Rheinmetall's
 defense division can be found on the Internet at
 http://www.rheinmetall-detec.com
     ATK is a $1.6 billion aerospace and defense company with leading positions
 in munitions, precision capabilities, propulsion, and composite structures.
 The company, which is headquartered in Hopkins, Minn., employs approximately
 10,000 people and has two business segments:  Aerospace and Defense.  ATK news
 and information can be found on the Internet at http://www.atk.com
 
     The forecasts, projections, expectations, and opportunities for a proposed
 joint venture company and anticipated new business included in this news
 release are "forward-looking statements" as defined in the Private Securities
 Litigation Reform Act of 1995.  Such forward-looking statements involve risks
 and uncertainties that could cause actual results to differ materially from
 anticipated results, including changes in governmental spending and budgetary
 policies, economic conditions, 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, in addition to other factors identified in ATK's filings with the
 Securities and Exchange Commission.
 
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SOURCE ATK
    MINNEAPOLIS and RATINGEN, Germany, April 27 /PRNewswire/ --
     ATK (NYSE:   ATK)(Alliant Techsystems), Hopkins, Minn., and Rheinmetall
 DeTec AG, Ratingen, Germany, announced today they have signed a memorandum of
 agreement (MOA) to form a joint venture company by combining their activities
 in the areas of medium-caliber and large-caliber ammunition, fuzing, and
 weapons.  The joint venture is subject to regulatory approval in the U.S.,
 Germany, and other customer countries.
     Paul David Miller (PDM), ATK chairman and chief executive officer, said,
 "The joint venture will bring together complementary technical and production
 capabilities of two of the world's premier weapons and munitions companies.
 These combined attributes will give us the ability to provide enhanced
 capabilities and better solutions in meeting the changing mission requirements
 of military forces."
     Dr. Ernst-Otto Kramer, chairman of Rheinmetall DeTec, said, "This merger
 is an important step to improve trans-Atlantic cooperation on the industrial
 level and enhance our capability to serve customers."
     The joint venture is a natural follow-on to a long history of successful
 cooperation on munitions programs between ATK and Rheinmetall.  In 1979,
 Rheinmetall transferred the technology for a family of 120mm smooth-bore tank
 ammunition to ATK, which has since produced and delivered nearly three million
 rounds to the U.S. and allied nations.
     In October 2000, the two companies announced a teaming agreement under
 which they are jointly developing next-generation large-caliber ammunition
 types for use by future armored vehicles and current main battle tanks.
 Products will include 105mm high-explosive and kinetic-energy smooth-bore
 ammunition and 120mm high-explosive smooth-bore tank ammunition.
     Rheinmetall DeTec AG is the lead company of the Rheinmetall Group's
 defense division.  The division has sales of 1.6 billion Euro and employs
 approximately 9,000 people.  Principal business areas include large-caliber
 and medium-caliber weapons and ammunition, surface/sub-surface anti-mine
 systems, simulation and training systems, vehicle systems, air defense
 systems, and vetronics and drones.  Further information on Rheinmetall's
 defense division can be found on the Internet at
 http://www.rheinmetall-detec.com
     ATK is a $1.6 billion aerospace and defense company with leading positions
 in munitions, precision capabilities, propulsion, and composite structures.
 The company, which is headquartered in Hopkins, Minn., employs approximately
 10,000 people and has two business segments:  Aerospace and Defense.  ATK news
 and information can be found on the Internet at http://www.atk.com
 
     The forecasts, projections, expectations, and opportunities for a proposed
 joint venture company and anticipated new business included in this news
 release are "forward-looking statements" as defined in the Private Securities
 Litigation Reform Act of 1995.  Such forward-looking statements involve risks
 and uncertainties that could cause actual results to differ materially from
 anticipated results, including changes in governmental spending and budgetary
 policies, economic conditions, 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, in addition to other factors identified in ATK's filings with the
 Securities and Exchange Commission.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X19618758
 
 SOURCE  ATK