OHB Technology AG: First contract for EDRS signed by OHB-System and Astrium Services

DJ DGAP-Adhoc: OHB Technology AG: First contract for EDRS signed by OHB-System and Astrium Services OHB Technology AG / Key word(s): Contract

13.04.2011 12:37

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First contract for EDRS signed by OHB-System and Astrium Services

Bremen, April 13, 2011 - the prime contractor Astrium Services and OHB-System AG, a subsidiary of OHB Technology AG (Prime Standard, ISIN: DE0005936124), today signed an authorization to proceed (ATP) for the development and construction of a satellite for the European Data Relay System (EDRS). Initiated and funded by the European Space Agency ESA as ARTES-7, this program is to define a new standard in space-based communications. Based on the Small GEO platform developed by OHB-System, the satellite is to go into operation in 2016.

The first contract entails development work of an initial volume of around EUR 7.4 million. The total volume for OHB-System will come to around EUR 150 million.

With the launch of the program by ESA, work on setting up a European data relay satellite system will be commenced, resulting in a constellation of geostationary satellites, which will receive data from low-orbit satellites and relay it back to the earth.

The decision to go ahead with EDRS under German lead management was made at the ESA council of ministers conference in Den Haag in 2008. It is now being implemented under the industrial leadership of Germany with the support of the German Federal Ministry of Economics and Technology (BMWi) and the German Aerospace Center (DLR).

Contact: Investor Relations Michael Vér Tel.: +49 421 - 2020-727 Fax: +49 421 - 2020-613 E-Mail: ver@ohb-technology.de

Corporate Communications Steffen Leuthold Tel.: +49 421 - 2020-620 Fax: +49 421 - 2020-9898 E-Mail: leuthold@ohb-technology.de

13.04.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English Company: OHB Technology AG Karl-Ferdinand-Braun-Str. 8 28359 Bremen Deutschland Phone: +49 (0)421 2020 8 Fax: +49 (0)421 2020 613 E-mail: ir@ohb-technology.de Internet: www.ohb-technology.de ISIN: DE0005936124 WKN: 593612 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service
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(END) Dow Jones Newswires April 13, 2011 06:38 ET (10:38 GMT)