ATK to Seek Investment Canada Act Approval for MDA Acquisition



    Filing Supports ATK's Vision to Grow its Global Space-Related Business in
    Canada

    MINNEAPOLIS, Jan. 31 /CNW/ -- Alliant Techsystems (NYSE:   ATK) announced
today that it will file an Investment Canada Act (ICA) Registration relating
to its planned acquisition of the Information Systems and Geospatial
Businesses of MacDonald Dettwiler and Associates (TSX: MDA). The company
expects the acquisition to close in the first quarter of its fiscal year,
after ICA review, regulatory approval and MDA shareholder approval.
    "ATK welcomes a thorough review of its acquisition plan by industry
officials and will work closely with the Canadian government throughout the
review process," said Chairman and CEO Dan Murphy. "We believe this
acquisition will strengthen the Canadian aerospace industry, grow Canada's
world-class aerospace expertise, and open new doors for MDA's proven high
performance technology to U.S. and international markets."
    Once the acquisition is closed, ATK will merge its existing satellite
assets with the MDA space business to form ATK Space Systems. The
Canadian-based facilities and workforce will remain in Canada, preserving the
company's unique and complementary strengths, and drive much of the group's
growth profile.
    The Investment Canada Act review will run concurrently with a U.S.
Hart-Scott-Rodino review. The transaction is also subject to MDA shareholder
approval. ATK now expects to complete all reviews and approvals by late May or
early June.
    Headquartered in Edina, Minnesota, ATK is a world leader providing small
satellites and large satellite sub-systems, hypersonic engines, rocket motors
for spacecraft launch and orbit transfer -- programs critical to reaching new
space frontiers. With approximately 17,000 employees and annual revenue in
excess of $4.1 billion (USD), ATK is the world's largest producer of solid
rocket motors and the prime contractor for the first stage of Ares I, NASA's
next-generation launch vehicle. News and information can be found on the
Internet at http://www.atk.com.
    Certain information discussed in this document 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 these
factors are: the ability to obtain required regulatory approvals of the
transaction or satisfy other conditions to the transaction; the failure of MDA
shareholders to approve the transaction; the occurrence of any event, change
or other circumstance that could give rise to the termination of the
acquisition agreement; the availability of capital market financing and the
costs thereof; the successful integration of the businesses; the risk that the
opportunities as a result of the transaction will not be realized, including
the risk that the revenue projections and benefits will not be achieved; as
well as delays in NASA's human-rated launch programs; changes in U.S. or
international governmental spending, budgetary policies and product sourcing
strategies; the company's competitive environment; risks inherent in the
development and manufacture of advanced technology; increases in commodity
costs, energy prices, and production costs; the terms and timing of awards and
contracts; program performance; program terminations; changes in cost
estimates; changes in foreign currency exchange rates; the outcome of
contingencies, including litigation and environmental remediation; actual
pension asset returns and assumptions regarding future returns, discount rates
and service costs; changes to accounting standards; changes in tax rules or
pronouncements; economic conditions; and the company's capital deployment
strategy, including debt repayment, share repurchases, pension funding,
mergers and acquisitions and any integration thereof. 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 Contact:                       Investor Contact:

    
     Bryce Hallowell                      Steve Wold
     Phone:  952-351-3087                 Phone:  952-351-3056
     E-mail:  bryce.hallowell@atk.com     E-mail:  steve.wold@atk.com
    




For further information:

For further information: Media, Bryce Hallowell, (952) 351-3087,
bryce.hallowell@atk.com, or Investors, Steve Wold, (952) 351-3056,
steve.wold@atk.com, both of ATK Web Site: http://www.ATK.com

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