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Tawazun Holding and Northrop Grumman Announce Collaboration on Advanced Technology Defense Programs

ABU DHABI, United Arab Emirates - Feb. 23, 2009 - Tawazun Holding, a wholly owned investment company established by the Offset Program Bureau (OPB), today signed a Memorandum of Understanding (MoU) with Northrop Grumman Corporation (NYSE:NOC) through its Electronic Systems sector to explore the establishment of a collaborative business alliance on various defense programs and requirements.

The MoU was signed by H.E. Saif Mohamed Al Hajeri, chief executive officer of the OPB and Tawazun Holding, and John C. Johnson, sector vice president and general manager of Northrop Grumman's Aerospace Systems Division.

"This MoU signifies our mutual interest in exploring ways in which we can collaborate to combine our strengths and consolidate our efforts in identifying opportunities for a sustainable and viable business," said Al Hajeri. "It is a significant step towards building a long term relationship to help achieve Abu Dhabi's economic diversification goals and to develop solutions that meet the defense and business requirements of the UAE."

"We are honored to work with Tawazun to help support its goals to bring technology and expertise to the UAE, create economic diversification and manage the country's defense industry. Northrop Grumman understands its vision to strengthen and develop the future economy of Abu Dhabi through strategic industry partnerships," said Johnson. "I look forward to a long and very successful working relationship."

Under the MoU, Tawazun and Northrop Grumman will explore the potential feasibility of establishing a collaborative business alliance across a variety of defense related activities with mutual long term interest to both companies.

The MoU covers the exchange of programmatic and planning information, capabilities and expertise to identify synergies and to develop operational concepts.

Tawazun Holding was established by the Offset Program Bureau in 2007. It currently focuses on the development and expansion of selected emerging companies across a wide range of industrial and commercial disciplines and seeks to create viable strategic partnerships that will add value to the UAE economy. The Offset Program Bureau was established in 1992 and is mandated to set up joint ventures, as well as to invest in commercial, industrial, financial, and educational projects and to create investment funds in the UAE and abroad.

Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. 

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