United States Army Awards $12 Million Contract for AeroVironment Wasp AE Small Unmanned Aircraft Systems on Behalf of United States Marine Corps

Wed Jan 23, 2013 9:10am EST

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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130123:nBw235861a

* Largest order to date for newest AeroVironment small unmanned aircraft system 
* Provides upgraded capabilities to lowest echelon of Marine Corps

MONROVIA, Calif.--(Business Wire)--
AeroVironment, Inc. (NASDAQ: AVAV) today announced that NAVAIR`s Program Office
for Navy & Marine Corps Small Tactical Unmanned Aircraft Systems (PMA-263),
working collaboratively with the United States Army`s Counter-IED Program
Office, awarded a contract on Sept. 21, 2012 for AeroVironment Wasp® AE small
unmanned aircraft systems, initial spares packages, training services, and one
year of contractor logistics support. The PMA / Army team worked jointly to
award the contract to PAR® Government Systems Corporation, which in turn secured
the systems and services from AeroVironment for a total value of $12,032,430.
Delivery was scheduled to occur within four months of contract award.

http://mms.businesswire.com/bwapps/mediaserver/ViewMedia?mgid=355569&vid=4
An operator launches an AeroVironment Wasp AE small unmanned aircraft system.
The United States Marine Corps adds the 2.8 pound Wasp AE system to its toolkit
with a $12 million order. (Photo: Business Wire)

"We introduced the Wasp AE in May of 2012 with the expectation that multiple
customers would find its capabilities very compelling," said Roy Minson,
AeroVironment senior vice president and general manager of its Unmanned Aircraft
Systems business segment. "These contracts supporting the United States Marine
Corps expand the adoption of Wasp AE beyond the Air Force, and support our view
that this highly capable successor to the proven Wasp III system will help our
customers operate more safely and effectively." 

Wasp AE incorporates the smallest of AeroVironment`s Mantis suite of miniature
gimbaled payloads, the 275 gram Mantis i22 AE, giving operators both color and
infrared video imagery from a single sensor package. Weighing 2.8 pounds (1.3
kilograms), the Wasp AE air vehicle is designed for ground and water landing,
making it suitable for both land and maritime missions, and is capable of 20
percent greater flight duration than the Wasp III. 

AeroVironment Small UAS

RQ-11B Raven®, Wasp AE, RQ-20A Puma and Shrike VTOL comprise AeroVironment`s
Family of Small Unmanned Aircraft Systems. Operating with a common ground
control system (GCS), this Family of Systems provides increased capability to
the warfighter that can give ground commanders the option of selecting the
appropriate aircraft based on the type of mission to be performed. This
increased capability has the potential to provide significant force protection
and force multiplication benefits to small tactical units and security
personnel. AeroVironment provides logistics services worldwide to ensure a
consistently high level of operational readiness and provides mission services
for customers requiring only the information its small UAS produce.
AeroVironment has delivered thousands of new and replacement small unmanned air
vehicles to United States government customers and to more than 20 international
governments. 

The Qube small UAS is tailored to law enforcement, first response and other
public safety missions. Small enough to fit easily in the trunk of a car, the
Qube system can be unpacked, assembled and ready for flight in less than five
minutes, giving the operator a rapidly deployable eye in the sky at a fraction
of the cost of manned aircraft and large unmanned aircraft. In addition to
public safety missions, AeroVironment`s family of small UAS can also perform
missions supporting border security, wildlife and environmental monitoring,
infrastructure management, scientific research and agriculture management. 

About AeroVironment

AeroVironment is a technology solutions provider that designs, develops,
produces, supports and operates an advanced portfolio of Unmanned Aircraft
Systems (UAS) and electric transportation solutions. Agencies of the U.S.
Department of Defense and allied military services use the company`s
electric-powered, hand-launched unmanned aircraft systems extensively to provide
situational awareness to tactical operating units through real-time, airborne
reconnaissance, surveillance and communication. Multiple government agencies
have helped to fund the development and demonstration of Global Observer®, a
hybrid-electric, stratospheric UAS designed to provide affordable, persistent
reconnaissance and communication over any location on the globe. Switchblade is
a loitering munition designed to provide a rapid, lethal, pinpoint precision
strike capability with minimal collateral damage. AeroVironment`s electric
transportation solutions include a comprehensive suite of electric vehicle (EV)
charging systems, installation and network services for consumers, automakers,
utilities and government agencies, power cycling and test systems for EV
developers and industrial electric vehicle charging systems for commercial
fleets. More information about AeroVironment is available at www.avinc.com. 

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking
statements" as that term is defined in the Private Securities Litigation Reform
Act of 1995. These statements are made on the basis of current expectations,
forecasts and assumptions that involve risks and uncertainties, including, but
not limited to, economic, competitive, governmental and technological factors
outside of our control, that may cause our business, strategy or actual results
to differ materially from those expressed or implied. Factors that could cause
actual results to differ materially from the forward-looking statements include,
but are not limited to, our ability to perform under existing contracts and
obtain additional contracts; changes in the regulatory environment; the
activities of competitors; failure of the markets in which we operate to grow;
failure to expand into new markets; failure to develop new products or integrate
new technology with current products; and general economic and business
conditions in the United States and elsewhere in the world. For a further list
and description of such risks and uncertainties, see the reports we file with
the Securities and Exchange Commission. We do not intend, and undertake no
obligation, to update any forward-looking statements, whether as a result of new
information, future events or otherwise. 

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AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
pr@avinc.com
or
Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
mark@boyersyndicate.com

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