TTN Titan Corp

U.S. Navy Awards Titan $32.4 Million Affordable Weapon System Contract SAN DIEGO, June 7 /PRNewswire-FirstCall/ -- The Titan Corporation (NYSE:TTN) announced today that the U.S. Navy's Naval Sea Systems Command has awarded the company a $32.4 million contract modification for the next stage in the development of the Affordable Weapon System (AWS). Under this award, Titan will produce approximately 85 missiles for demonstration, test and evaluation. The contract also includes work for the AWS launcher design and ship integration. "This latest award will provide additional structure for successfully demonstrating the Affordable Weapon's advanced technology and operational capability at a significantly lower cost to the U.S. Navy," said Gene Ray, Titan's president, chairman, and CEO. "It's another step toward bringing the AWS and its design concept into the Navy's operational inventory." The AWS is a guided missile system consisting of missile, launcher and mobile ground station that uses military and commercial off-the-shelf (COTS) components in a "system engineered COTS" design. Launched from various platforms by a small rocket booster and powered in flight by a small turbojet engine, the affordable weapon system is designed to carry a 200-pound payload to a target several hundred miles away. Equipped with both line-of-sight and satellite data links, the missile can fly directly to its target guided by the Global Positioning System. Alternatively, the missile can fly to an area and loiter for hours, until a forward observer directs the weapon to a target. Headquartered in San Diego, The Titan Corporation is a leading provider of comprehensive information and communications systems solutions and services to the Department of Defense, intelligence agencies, and other federal government customers. As a provider of national security solutions, the company has approximately 12,000 employees and annualized sales of approximately $2.2 billion. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release, which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Examples of such forward-looking statements include statements by Gene Ray, that the government will fund the $32.4 million, and that this award is another step toward bringing the AWS into the Navy's operational inventory. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the risks associated with the Company's dependence on continued funding of U.S. Department of Defense and federal civilian agency programs, contract termination risks, risks associated with acquiring other companies, including integration risks, and other risks described in the Company's Securities and Exchange Commission filings. Media Contact: Wil Williams, Vice President for Corporate Communications, (858) 552-9724 or Investor Relations Contact: The Berlin Group, Inc. (858) 552-9896 or If you would like to receive press releases via electronic mail, please contact: For more information on The Titan Corporation, please visit our website at: http://www.titan.com/ or visit Titan's investor page at: http://www.titan.com/investor DATASOURCE: The Titan Corporation CONTACT: Media, Wil Williams, Vice President for Corporate Communications of The Titan Corporation, +1-858-552-9724, ; or Investor Relations, The Berlin Group, Inc., +1-858-552-9896, , for The Titan Corporation Web site: http://www.titan.com/investor Web site: http://www.titan.com/

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