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January 12, 2004

Arotech Swallows Up FAAC

Arotech Corporation says it's entered into a definitive agreement to acquire FAAC, a privately-owned corporation with headquarters located in Ann Arbor (MI). For more than 30 years, FAAC has provided simulators, systems engineering and software products to the United States military, government and private industry. This acquisition will significantly expand Arotech's simulation business into the military arena. The closing of this transaction is expected to take place next week. FAAC management will stay with the company and will continue to manage FAAC as a wholly-owned subsidiary of Arotech.

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