ATK and Ad Astra Rocket Company Sign Technology Development Alliance

HOUSTON, March 26 /PRNewswire-FirstCall/ -- On March 17, Alliant Techsystems and the Ad Astra Rocket Company of Houston, Texas signed and executed a Technology Development Alliance designed to strengthen the market presence of the two companies and explore future in-space propulsion systems for lunar and planetary missions.

The new alliance will explore how the respective skill sets and capabilities of each company can work together to deliver customer solutions that neither could accomplish on their own. ATK is an industry leader in the production and integration of advanced launch systems and solid rocket motors while Ad Astra specializes in advanced plasma propulsion technologies for operation in the vacuum of outer space. The agreement recognizes that a synergistic coupling of the companies' existing and emerging expertise would result in a stronger, more competitive end-to-end solution to customer needs and requirements in the rapidly evolving commercial and civil space markets.

The agreement will facilitate the sharing of sufficient cost, technical and programmatic information in order to assess the teaming advantages that may present themselves on future launch vehicle and rocket propulsion projects.

"This relationship opens many exciting opportunities that could be addressed through our combined skill sets. We look forward to developing them to their full potential," said Franklin R. Chang Diaz, Ad Astra's Chairman and CEO.

"We see this as a natural extension of ATK's efforts, and a critical link to bridge the gap between existing high-thrust, low-specific impulse propulsion systems and low-thrust, high-specific impulse systems to meet a variety of applications," said Charles J. Precourt, Vice President for Strategy and Business Development for ATK Launch Systems.

About ATK

ATK is an advanced space systems company with annual revenues in excess of $4.1 billion that employs more than 17,000 people in 21 states. ATK provides innovative and cost-effective launch systems solutions to a broad range of customers. It is the world's leading manufacturer of rocket motor systems for human-rated and unmanned space launch vehicles, strategic missiles and missile defense interceptors. It serves both commercial and government customers, including prime contractors, NASA, the U.S. Air Force, U.S. Navy, U.S. Army and U.S. Missile Defense Agency.

About Ad Astra

Ad Astra Rocket Company is a privately-owned corporation established January 14, 2005 to commercialize the technology of the VASIMR(TM) engine, a plasma propulsion system originally studied by NASA with potential to support an emerging in-space transportation market. The company has its main laboratory and corporate headquarters at 141 W. Bay Area Boulevard in Webster, Texas, USA. Ad Astra also owns and operates Ad Astra Rocket Company, Costa Rica, a supporting research and development subsidiary in Guanacaste, Costa Rica.

Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: the expected results of technology development alliances, changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.

Media Contacts: ATK -- George Torres (801) 251-2819, george.torres@atk.com Ad Astra -- Tim Glover (281)-526-0500, tim.glover@adastrarocket.com