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Kratos Wins M&A Advisor Award for Equity Financing Deal of the Year



Kratos Wins M&A Advisor Award for Equity Financing Deal of the Year

SAN DIEGO, Dec. 19, 2012 (GLOBE NEWSWIRE) -- Kratos Defense & Security
Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider,
today announced that it received the 2012 M&A Advisor 'Equity Financing Deal
of the Year' award for its public offering of common stock raising $100
million in conjunction with the acquisition of Composite Engineering, Inc.,
which was completed in July of this year.  Composite Engineering, Inc. (CEI)
is a vertically integrated manufacturer and developer of unmanned aerial
target systems and composite structures used for National Security programs.

Prior to the acquisition, Kratos provided electronics and avionics that are on
board CEI aircraft, and Kratos also provides ground flight control stations
and electronics for the command and control of CEI aerial systems. CEI
aircraft are made from composite materials in a secure, state-of-the-art
manufacturing facility and as a result have industry leading flight and
representation characteristics. CEI's market leading drones are designed to
replicate some of the most lethal aerial threats facing this nation's
Warfighters and strategic assets. CEI's domestic programs as a prime
contractor include the U.S. Air Force AFSAT and U.S. Navy SSAT. CEI's programs
as a major subcontractor include the U.S. Air Force Miniature Air Launched
Decoy (MALD®) and the U.S. Navy Multi-Stage Supersonic Target (MSST). The CEI
suite of unmanned drones includes the BQM-167A/i, the BQM-177A/i and the
Firejet. All are jet engine powered and have advanced threat representative
flight performance characteristics, including subsonic and sustained
supersonic airspeed capability for the BQM-177A/i, external and internal
payload capability and demonstrated altitudes from sea skimming to 50,000 ft.

The 11th annual M&A Advisor Awards Gala honored the leading deal teams, firms
and dealmakers whose activities set the standard for M&A transactions. This
year, a record of 423 nominees, representing over 600 companies, became
finalists for the awards. An independent judging committee of 16 top M&A,
Restructuring and Finance industry experts determined the ultimate recipients
of the awards as revealed at the event.

Eric DeMarco, President and CEO of Kratos, commented, "We are honored to
receive the M&A Advisor Award for Equity Financing Deal of the Year. This
financing, which enabled Kratos' acquisition of CEI, has positioned Kratos as
one the premier aerial targets and drone providers in the industry today.
Additionally, with CEI, Kratos' business today is primarily focused on very
specialized products and solutions supporting National Security priority
areas, including unmanned aerial systems, missile defense, electronic warfare
and satellite communications. Furthermore, a substantial portion of CEI's
business is with international customers, and today approximately 30 percent
of Kratos' overall revenues are non-Department of Defense sourced, providing
our company a significant, stable and growing portion of our business in the
current challenging U.S. federal budgetary environment."

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized
National Security technology business providing mission critical products,
services and solutions for United States National Security. Kratos' core
capabilities are sophisticated engineering, manufacturing and system
integration offerings for National Security platforms and programs. Kratos'
areas of expertise include Command, Control, Communications, Computing, Combat
Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), satellite
communication systems, unmanned systems, cyber warfare, cybersecurity,
information assurance, and critical infrastructure security. Kratos has
primarily an engineering and technically oriented work force of approximately
4,400. The vast majority of Kratos' work is performed on a military base, in a
secure facility or at a critical infrastructure location. Kratos' primary end
customers are National Security related agencies. News and information are
available at www.KratosDefense.com.

The Kratos Defense & Security Solutions, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3519

Notice Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of Kratos and are
subject to significant risks and uncertainty, including risks related to
general economic conditions and cutbacks in spending. Investors are cautioned
not to place undue reliance on any such forward-looking statements. All such
forward-looking statements speak only as of the date they are made, and Kratos
undertakes no obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. For a further
discussion of risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as well as
risks relating to the business of Kratos in general, see the risk disclosures
in the Annual Report on Form 10-K of Kratos for the year ended December 25,
2011 and in subsequent reports on Forms 10-Q and 8-K and other filings made
with the SEC by Kratos.

CONTACT: Press Contact:
         Yolanda White
         858-812-7302 Direct
        
         Investor Information:
         877-934-4687
         investor@kratosdefense.com

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