Applied Signal Technology (www.appsig.com) provides advanced digital signal processing products, systems and services used in reconnaissance of telecommunication signals for intelligence gathering, a process referred to as signal intelligence. The Company develops and manufactures equipment for both the collection and processing of signals. Its signal collection equipment consists of receivers that scan through potentially thousands of cellular telephone, microwave, ship-to-shore and military transmissions in the radio frequency spectrum with the goal of collecting certain specific signals. Its signal processing equipment uses advanced software and hardware to evaluate characteristics of the collected signals and selects those most likely to contain relevant information. At inception, the Company's efforts were primarily focused on processing equipment. Applied Signal has broadened its scope to add specialized collection equipment and complete signal processing systems.

The Boeing Company (www.boeing.com) , together with its subsidiaries, is an aerospace company that operates in six principal segments: Commercial Airplanes, Aircraft and Weapon Systems, Network Systems, Support Systems and Launch and Orbital Systems (collectively, Integrated Defense Systems (IDS)) and Boeing Capital Corporation (BCC). The Commercial Airplanes operations principally involve development, production and marketing of commercial jet aircraft and providing related support services, principally to the commercial airline industry worldwide. IDS' operations principally involve research, development, production, modification and support of products and related systems, including military aircraft, helicopters and missiles, space systems, missile defense systems, satellites and satellite launching vehicles, rocket engines and information and battle management systems. BCC is primarily engaged in the financing of commercial and private aircraft and commercial equipment.

CACI International (www.caci.com) provides the IT and network solutions needed to prevail in today's new era of defense, intelligence, and e-government. From systems integration and managed network solutions to knowledge management, engineering, simulation, and information assurance, we deliver the IT applications and infrastructures our federal customers use to improve communications and collaboration, secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. Our solutions lead the transformation of defense and intelligence, assure homeland security, enhance decision-making, and help government to work smarter, faster, and more responsively. CACI, a member of the Russell 2000 and S&P SmallCap 600 indices, provides dynamic careers for approximately 9,400 employees working in over 100 offices in the U.S. and Europe.

Ceradyne (www.ceradyne.com) develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications.

Cubic Corporation (www.cubic.com) has two primary business segments, defense and transportation systems. The defense segment performs work under United States and foreign government contracts relating to electronic defense systems and equipment, computer simulation training, development of training doctrine and field operations and maintenance. Products include customized range instrumentation and training systems, communications and surveillance systems, avionics systems, transceivers and receivers. The transportation systems segment designs, produces, installs and services electronic revenue collection systems for mass transit projects, including railways and buses.

Curtiss-Wright Corporation (www.curtisswright.com) is engaged in the design and manufacture of motion control, metal treatment and flow control products for the aerospace, defense, automotive, construction, oil, petrochemical, metal working and other industries. The Company's flow control segment designs, manufactures, distributes and services a range of highly engineered flow control products for severe service military and commercial applications. The Motion Control segment designs, develops, manufactures and maintains mechanical actuation and drive systems, mission-critical electronic component and control systems and sensors for the aerospace, defense and industrial equipment markets through its three main operating divisions: mechanical systems, sensors and drives and electronic systems. The Metal Treatment segment provides approximately 50 metal treatment services, with its principal services being shot-peening and heat-treating.

DRS Technologies (www.drs.com) headquartered in Parsippany, New Jersey, provides leading edge products and services to defense, government intelligence and commercial customers. Focused on defense technology, DRS develops and manufactures a broad range of mission critical systems. The company employs 5,800 people worldwide.

Engineered Support Systems (www.engineeredsupport.com) is a diversified supplier of high-tech, integrated military electronics, support equipment and logistics services for all branches of America's armed forces and certain foreign militaries. The Company also serves a variety of commercial and industrial customers.

FLIR Systems (www.FLIR.com) is a world leader in the design, manufacture and marketing of thermal imaging and stabilized camera systems for a wide variety of thermography and imaging applications including condition monitoring, research and development, manufacturing process control, airborne observation and broadcast, search and rescue, drug interdiction, surveillance and reconnaissance, navigation safety, border and maritime patrol, environmental monitoring and ground-based security.

General Dynamics (www.generaldynamics.com) , headquartered in Falls Church, Virginia, employs approximately 68,400 people worldwide and anticipates 2004 revenue of $19 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation.

Harris Corporation (www.harris.com), is a leading supplier of secure voice and data communications products, systems, and networks to military, government, and commercial organizations worldwide. Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. With headquarters in Melbourne, Florida, the company has annual sales of $3.5 billion and nearly 14,000 employees - including 6,000 engineers and scientists - dedicated to the development of best-in-class assured communications(TM) products, systems, and services. The company's operating divisions serve markets for government communications, RF communications, broadcast communications, and microwave communications.

KVH Industries (www.kvh.comm) designs and makes systems and solutions using its proprietary satellite antenna and fiber-optic technologies for two principal markets, mobile satellite communications, and defense-related navigation and guidance. Its mobile satellite communications products connect people on the move to satellite television, telephone and high-speed Internet services worldwide. Using a combination of sensors, proprietary software algorithms and mechanical designs, the Company's proprietary stabilized antennas remain pointed at specific geo-stationary satellites and receive digital television, voice, fax and high-speed Internet signals regardless of how a vessel or vehicle moves. In the defense-related navigation and guidance market, the Company uses its core magnetic, fiber-optic sensing, navigation systems integration and display technology to develop and manufacture products that address a variety of systems requirements for military and commercial customers.

Headquartered in New York City, L-3 Communications (www.L-3Com.com) is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services and is a merchant supplier of a broad array of high technology products. Its customers include the Department of Defense, Department of Homeland Security, selected U.S. Government intelligence agencies and aerospace prime contractors.

Lockheed Martin Corporation (www.lockheedmartin.com) principally researches, designs, develops, manufactures, integrates, operates and supports advanced technology systems, products and services. The Company serves customers in domestic and international defense, civil and commercial markets, with its principal customers being agencies of the United States Government. In 2003, approximately 78% of its net sales were made to the United States Government, either as a prime contractor or as a subcontractor. Approximately 16% of its net sales in 2003 were made to foreign governments (including foreign military sales). Approximately 6% of net sales in 2003 were made to commercial customers (mainly launch services, satellites and information technology services). As a lead systems integrator, the Company's products and services range from aircraft, spacecraft and launch vehicles to missiles, electronics and information systems, including integrated net-centric solutions.

Headquartered in Fairfax, Virginia, ManTech International Corporation (www.mantech.com) is a leading provider of innovative technologies and solutions for mission-critical national security programs for the Department of Defense, the Intelligence Community, the Department of State, the Department of Justice, the Department of Homeland Security and other U.S. federal government customers. The company's expertise includes software development, enterprise security architecture, information assurance, intelligence operations support, network and critical infrastructure protection, information technology, communications integration and engineering support. The company supports the advanced telecommunications systems that are used in Operation Iraqi Freedom and in other parts of the world; provides the physical and cyber security to protect U.S. embassies all over the world; has developed a secure, collaborative communications system for the U.S. Department of Homeland Security; and is helping the Department of Justice's U.S. Marshall Service deploy a common, office automation system. With annual revenues in excess of $700 million and more than 5,000 highly qualified employees, the company operates in the United States and 34 countries worldwide.

Mercury Computer Systems (www.mc.com) is a leading supplier of high-performance embedded, real-time digital signal and image processing computer systems. Mercury's products play a critical role in a wide range of applications, transforming sensor data to information for analysis and interpretation. In military reconnaissance and surveillance platforms the company's systems process real-time radar, sonar, and signals intelligence data. Mercury's systems are also used in state-of-the-art medical diagnostic imaging devices including MRI, PET, and digital X-ray, and in semiconductor imaging applications including photomask generation and wafer inspection.

Northrop Grumman Corporation (www.northgrum.com) provides products, services and solutions in defense and commercial electronics, nuclear and non-nuclear shipbuilding, information technology, mission systems, systems integration and space technology. As prime contractor, principal subcontractor, partner or preferred supplier, Northrop Grumman participates in many defense and commercial technology programs in the United States and abroad. The majority of the Company's products and services are ultimately sold to the United States Government, which accounted for 86.7% of total revenue in 2003. Northrop Grumman operates in seven business sectors: Electronic Systems, Newport News, Ship Systems, Information Technology, Mission Systems, Integrated Systems and Space Technology.

Orbital (www.orbital.com) develops and manufactures small space and rocket systems for commercial, military and civil government customers. The company's primary products are satellites and launch vehicles, including low-orbit, geosynchronous and planetary spacecraft for communications, remote sensing, scientific and defense missions; ground- and air-launched rockets that deliver satellites into orbit; and missile defense systems that are used as interceptor and target vehicles. Orbital also offers space-related technical services to government agencies and develops and builds satellite-based transportation management systems for public transit agencies and private vehicle fleet operators.

OSI Geospatial Inc. (www.osigeospatial.com) delivers advanced navigation and command and control systems that provide shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange (OSI) and the Over the Counter Bulletin Board (OSIIF). For additional information please visit www.osigeospatial.com.

Raytheon (www.raytheon.com), with 2005 sales of $21.9 billion, is an industry leader in defense and government electronics, space, information technology, technical services, and business and special mission aircraft. With headquarters in Waltham, Mass., Raytheon employs 80,000 people worldwide.

Teledyne Technologies (www.teledyne.com) is a leading provider of sophisticated electronics components, instruments and communication products, systems engineering solutions, and aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom, Canada and Mexico.

All of these companies are included in our Investment Guide To 350+ Security Stocks ©.