Acquisition

BAE SYSTEMS PLC
23 October 2002



 22nd October 2002



BAE SYSTEMS AGREES TO ACQUIRE CONDOR PACIFIC INDUSTRIES

BAE SYSTEMS North America has agreed to the acquisition of Condor Pacific
Industries, Inc. (CPI) of Westlake Village, California, for 58.5 million US
dollars. The acquisition will be funded from existing cash resources. CPI
manufactures products for inertial navigation, guidance and control systems.



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