DRS Technologies Selects OpenPages SOX Express for Sarbanes-Oxley Compliance

July 27, 2004

Waltham, Mass. - July 27, 2004 - OpenPages, a leading provider of enterprise compliance management solutions, today announced that DRS Technologies, Inc. (NYSE: DRS) has selected OpenPages’ Sarbanes-Oxley Express (SOX Express) for use in its Section 302 and 404 compliance initiatives.

Headquartered in Parsippany, New Jersey, DRS Technologies 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.

DRS will deploy SOX Express to streamline its internal controls documentation process across all of its divisions. It will enable the exchange of information within organizations regarding ongoing business controls deployment and monitoring, resulting in significant reduction of compliance costs. By combining a strong document repository with powerful compliance automation capabilities, SOX Express will facilitate both project management and compliance, using a web-based interface to get users up to speed quickly.

“OpenPages represented the best solution for DRS Technologies’ compliance initiatives,” said Steve Patterson, DRS Technologies’ Vice President, Internal Controls. “We believe the company offers the most complete enterprise application in the market, and that product is backed by a company with impressive implementation times, tight alignment with leading accounting firms, and a track record in helping customers achieve their compliance goals.”

OpenPages’ SOX Express is an enterprise compliance management solution that reduces the time and resource costs associated with ongoing compliance for Sections 302 and 404. SOX Express is a focused enterprise application that combines powerful document and business process management with flexible reporting capabilities in an extremely easy-to-use environment that enables CEOs, CFOs and financial management officers to enforce internal controls. SOX Express helps corporations automate significant aspects of their internal controls framework to significantly reduce the overall cost of compliance. Its dashboards can be used by project managers, documentation team members and internal auditors to plan, document and test the internal controls of the company, and, eventually, to attest to the financial statements.

About OpenPages

OpenPages® is the leading provider of enterprise risk management solutions that optimize business performance. OpenPages empowers the world’s largest companies by unifying governance, risk and compliance across the enterprise and by incorporating risk management into day-to-day business processes. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.

For questions or for more information on OpenPages' enterprise risk management solutions, please click here or call us at 781.693.5999.