space fence announcement

Dear All

I am very surprised by the lack of reaction to the EOS announcement today on the US Air Force 2007 budget estimates relating to the funding of the "space fence" program.

As you will be aware, it is the interest in this program which drove Northrop to acquire its 10% stake in EOS.

The fact that this announcement is probably a year later than expected only enhances its significance and must surely now raise the matter of a Northrop buy-out.

What was not expected by Northrop was the escalating success of the CROWs program which will only improve the business case for an outright acquisition before the Northrop board - essentially picking up the CROWs business for free.

Respectfully Mr Ureda, if you are not careful a potential rival of Northrop could pick up this very good business under your nose courtesy of Jefferies Quarterdeck. But I believe it is also fair to say that just because some shareholders panicked and sold out at low low prices does not mean the rest of us will follow.

Regards Eos (a mere shareholder)

PS I would be delighted to assist you in drafting your Board paper and supporting business case.