ATK (Alliant Techsystems)
said that its Mk 136 Third-Stage Rocket Motor (TSRM) and Solid
Divert and Attitude Control System (SDACS) for the Mk 142 Kinetic Warhead (KW)
guided a Raytheon STANDARD Missile-3 (SM-3) to a successful space-intercept of
an inbound ballistic missile target. The intercept occurred during a Missile
Defense Agency and U.S. Navy Aegis Ballistic Missile Defense (BMD) system
flight test off the Hawaii coast.

The test, designated Flight Mission-6 (FM-6), was the fourth successful
SM-3 target intercept. The test used the new monolithic SDACS design in its
“sustain mode,” the baseline configuration for the initial deployment of SM-3
missiles. The missiles will be delivered in support of President Bush’s
directive to deploy an initial missile defense capability in 2004-2005.

The ATK TSRM and SDACS propulsion systems — both key elements of the SM-3
missile system — performed as expected during the flight test. ATK Elkton,
Elkton, Md., is developing both systems under a subcontract to Raytheon.

Donald E. Shaffer, president, ATK Elkton, said the SM-3 deployment is a
critical step for the nation to build and maintain a robust ballistic missile
defensive shield capable of defeating rogue missile attacks and deterring
other hostile action.

“This flight test further demonstrates the system’s readiness for
deployment against short- and medium-range ballistic missiles,” said Shaffer.

As in the previous tests, the SM-3 was launched from the Aegis BMD cruiser
USS LAKE ERIE (CG-70) and shortly thereafter hit the target, which had been
launched from the Navy’s Pacific Missile Range Facility on Kauai.

The launch was part of an ongoing planned series of flight tests for the
Aegis BMD program. SM-3 is designed to intercept an incoming ballistic
missile outside the earth’s atmosphere. The KW is based on technology
developed during BMDO’s Lightweight Exo-Atmospheric Projectile (LEAP) program.
SM-3 and the KW are under development by Raytheon Company at its Missile
Systems business in Tucson, Ariz.

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

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 12,500 people and has three business groups:
Precision Systems, Aerospace, 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 related to deployment
schedules of the SM-3 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 those factors are: 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.