ATK Awarded $92 Million Missile Defense Propulsion Systems Contract For STANDARD Missile-3 Deployment

ATK (Alliant Techsystems)
has received a $92 million propulsion systems contract from
Raytheon Missile Systems in support of initial deployment of the STANDARD
Missile-3 (SM-3) for the U.S. Navy sea-based Aegis Ballistic Missile Defense
System.

The contract awarded to ATK Elkton, Elkton, Md., is for engineering plus
the manufacture and delivery of the Mk136 Third Stage Rocket Motor (TSRM) and
the Mk142 kinetic warhead Solid Divert and Attitude Control System (SDACS).
TSRM and SDACS deliveries under the contract will support SM-3 missile
deployments during 2004 in response to a December 2002 directive from
President Bush to deploy an initial missile defense capability. TSRM and
SDACS technology development efforts are also being pursued under the contract
with the objective of enhancing future SM-3 missile capabilities.

TSRM and SDACS propulsion systems will continue to be used to support SM-3
flight tests over the coming months as part of a plan to further demonstrate
and evolve the Aegis Ballistic Missile Defense System capability. ATK Elkton
developed TSRM and SDACS under contract to Raytheon Missile Systems, Tucson,
Ariz.

ATK Elkton is a leading supplier of solid propellant propulsion systems
and ordnance devices for missile defense, space, strategic, and tactical
applications.

Key suppliers for Maryland-based ATK Elkton’s TSRM and SDACS propulsion
systems are diverse and located throughout the United States. They include:
Honeywell and Pacific Scientific (locations in both Arizona and California);
American Automated Engineering, Ultramet, and Keystone (California); AMTI,
Microtronics, Tramtech, and Tube Specialties (Arizona); Fiber Materials Inc.
(Maine); Ensign Bickford (Connecticut); Rhenium Alloys (Ohio); Microway
(Illinois); Oceaneering (Virginia); and G.W. Lisk and Aerodyne (New York).

With headquarters in Lexington, Mass., and 2002 sales of $16.8 billion,
Raytheon Company is an industry leader in defense, government and
commercial electronics, space, information technology, technical services, and
business and special mission aircraft. Raytheon employs more than 76,000
people worldwide.

ATK is a $2.2 billion aerospace and defense company with strong positions
in propulsion, composite structures, munitions, precision capabilities, and
civil and sporting ammunition. The company, which is headquartered in Edina,
Minn., employs approximately 12,000 people and has three business groups:
Aerospace, Precision Systems, and Ammunition and Related Products. ATK news
and information can be found on the Internet at www.atk.com .

Certain information discussed in this press release may constitute
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 those
factors are: unforeseen delays in NASA’s Space Shuttle program, changes in
governmental spending and budgetary policies, economic conditions, equity
market returns, the company’s competitive environment, the timing of awards
and contracts, the outcome of contingencies, including litigation and
environmental remediation, program performance, and sales projections. ATK
undertakes no obligation to update any forward-looking statements. For
further information on factors that could impact ATK, and statements contained
herein, reference should be made to ATK’s filings with the Securities and
Exchange Commission, including quarterly reports on Form 10-Q, current reports
on Form 8-K and annual reports on Form 10-K.