RNS Number:3909S
Ultra Electronics Holdings PLC
24 November 2003


                                                              24 November 2003


                         Ultra Electronics Holdings plc
                            ("Ultra" or "the Group")

   Ultra Completes Acquisition of Ocean Systems Product Line from BAE Systems

Ultra announces that it has completed the acquisition, originally announced on
25 September, of the assets of BAE Systems' Ocean Systems for a cash
consideration of US$10.0m.  Ocean Systems was part of BAE Systems North America
and closure follows the successful completion of US regulatory review and
approvals.

The assets have been incorporated into a new company, Ultra Electronics Ocean
Systems Inc, which will operate as a business within Ultra's Tactical & Sonar
Systems division.  Ocean Systems employs approximately 80 people in Braintree,
Massachusetts, USA, providing special purpose acoustic and radio frequency
devices and systems for submarines, surface ships and acoustic test ranges
worldwide.

The acquisition of Ocean Systems was financed using Ultra's existing facilities.
In 2002, Ocean Systems had sales of US$14.0m and its order book at the end of
June 2003 was $16.5m.


                                    - Ends -

Enquiries:
Ultra Electronics Holdings plc                               020 8813 4321
Julian Blogh, Chief Executive                    www.ultra-electronics.com
                                                 information@ultra-scs.com
Weber Shandwick Square Mile                                  020 7067 0700
Susan Ellis or 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 2,700 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; radar tracking; electro optical tracking;
surveillance systems; naval data processing and distribution; airport and
airline information management 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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