BEIQ Bei Technologies (MM)

BEI Technologies, Inc. Awarded F-35 Joint Strike Fighter Contract for Electro-Optical Sensor Components From Lockheed Martin Missiles and Fire Control Division SAN FRANCISCO, July 15 /PRNewswire-FirstCall/ -- BEI Technologies, Inc. (NASDAQ:BEIQ) announced its Precision Systems and Space Division (PSSD) in Maumelle, Arkansas has been awarded a contract for up to $2 million by Lockheed Martin Missiles and Fire Control Systems for the F-35 Joint Strike Fighter. The contract is to design, test and manufacture electro-optical sensor components for the F-35 Electro-Optical Targeting System (EOTS) through the system development and demonstration phase. "We are very pleased to be part of the Lockheed Martin F-35 team. This contract represents an opportunity to establish our next generation encoder technology into a multi-year program of international stature," said Dr. Asad Madni, President and COO of BEI Technologies, Inc. The future production phases would require sensors for a projected 3000 F-35 aircraft. The EOTS is an affordable, high-performance, lightweight, multi-functional system for precision air-to-air and air-to-surface targeting. Lockheed Martin is developing the F-35 with its principal industrial partners, Northrop Grumman and BAE SYSTEMS. Companies worldwide are participating in the F-35's development. BEI Technologies, Inc. (the "Company" or "Technologies") is an established manufacturer of electronic sensors, motors, actuators, optical encoders and motion control products used for factory and office automation, medical equipment, military, aviation and space systems. In addition, sales to manufacturers of transportation equipment including automobiles, trucks and off-road equipment have become a significant addition to the Company's business in recent years. The Company's micromachined quartz yaw rate sensors are being used in advanced vehicle stability control systems and a significant increase in the production of those sensors had been in progress from the middle of 1998 to FY 2003 except for a decrease in production in fiscal 2002 due to increased competition. The Company is currently transitioning to its next generation of automotive inertial quartz based sensor products, remotely mounted multi-sensor clusters with CAN Bus and a multi rate sensor package suitable for incorporation into electronic systems modules. The Company also manufactures electronic steering wheel position sensors, seat-memory modules, throttle position sensors, pressure sensors, and other devices used in transportation systems. BEI Precision Systems and Space Division is an operating division of BEI Technologies, Inc. DATASOURCE: BEI Technologies, Inc. CONTACT: John LaBoskey, Senior Vice President/CFO of BEI Technologies, Inc., +1-415-956-4477 Web site: http://www.bei-tech.com/

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