RNS Number:0452N        
Ultra Electronics Holdings PLC
02 July 2003


Embargoed until 07.00                                                2 July 2003



                          Ultra Electronics Holdings plc

                        ("Ultra" or "Ultra Electronics")


                Ultra acquires SML Technologies for #6.5 million


Ultra announces that it has agreed to acquire all of the issued share capital of
SML Technologies ("SML") for a cash consideration, subject to net asset
adjustment on completion, of #6.5m.  A further #1.0m would be payable subject to
the achievement of specific targets for further growth.



SML is a business employing approximately 40 people based near Southampton and
with sales offices in Aberdeen, Singapore and Houston, Texas.  The company
supplies electronic charting systems, radars and automatic radar plotting aids,
personal locator beacons and GPS transponder systems to military, offshore oil,
and port vessel traffic management customers.  SML's products are used for
surveillance, collision avoidance and command and control purposes and are
incorporated in the navigation system of the Royal Navy's new Type 45 destroyer.



SML has strong synergies with Ultra's geographic information, navigation and
radar capabilities and products from the Group's Information & Power Systems
division of which it will become part.



The acquisition of SML will be financed using Ultra's existing facilities.
SML's unaudited results for the year ended 31 March 2003 show sales of #5.6m,
operating profit of #1.0m and net assets of approximately #1.4m.  The order book
at the end of March 2003 was #1.8m.



Dr Julian Blogh, Chief Executive, Ultra Electronics, commented:

"I am delighted that we have agreed the acquisition of SML Technologies, a
company that has shown excellent growth over recent years.  SML's technologies
enhance Ultra's offerings for the battlespace IT market.  I am confident that
its complementary activities will help us to build on our reputation as a
supplier of the highest technology products and services to our customers."



                                    - Ends -

Enquiries:
Ultra Electronics Holdings plc                                     020 8813 4321

Dr Julian Blogh, Chief Executive                       www.ultra-electronics.com
                                                       information@ultra-scs.com


Weber Shandwick Square Mile                                        020 7067 0700
Susan Ellis / Susanne Walker



Notes to editors:

Ultra Electronics is a group of specialist businesses designing, manufacturing
and supporting electronic and electromechanical systems, sub-systems and
products for aircraft, ships, submarines, armoured vehicles, airports and
transport systems worldwide.  The Group, which employs 2,600 people in the UK
and North America, focuses on high integrity sensing, control, communication and
display systems with an emphasis on integrated Information Technology solutions.



The Group concentrates on obtaining a technological edge in niche markets, with
many of its products and technologies being market leaders in their field.
Ultra has an increasing role of supporting prime contractors by undertaking
specialist system and sub-system integration using the combined expertise of the
Group businesses.



Ultra is organised into three divisions as follows:

Tactical & Sonar Systems including secure tactical line-of-sight radio systems,
multiplexers and switches; tactical datalinks; cryptographic equipment; active,
passive and multi-static sonobuoys; sonobuoy receivers and processors;
distributed surveillance sensor arrays; ship's sonar systems and ship's torpedo
defence systems



Aircraft & Vehicle Systems including miniature airborne compressors; high
integrity software and systems; aircraft system electronics; aircraft noise and
vibration control; propeller de-icing, balancing and control systems; armoured
vehicle electronic information and control systems, human/computer interface
equipment and shared working environment solutions.



Information & Power Systems including command and control systems equipment;
weapons interfacing electronics; naval data processing and distribution; airport
and airline information management systems; passenger baggage reconciliation
systems; ID card systems; naval power conversion; signature management of naval
vessels; transit system power conversion and control




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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