The prices of energy and other commodities have risen of late. However, substantial resource slack is likely to dampen cost pressures, and the Committee expects that inflation will remain subdued for some time.

In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. As previously announced, to provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year. In addition, the Federal Reserve is in the process of buying $300 billion of Treasury securities. To promote a smooth transition in markets as these purchases of Treasury securities are completed, the Committee has decided to gradually slow the pace of these transactions and anticipates that the full amount will be purchased by the end of October. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.

Lockheed Martin (NYSE: LMT) announced today that the U.S. Missile Defense Agency’s Airborne Laser (ABL) team has successfully fired the High Energy Laser through the Lockheed Martin-developed Beam Control/Fire Control system.

In a series of tests conducted in the aircraft on the ground, the Beam Control/Fire Control system focused and directed the High Energy Laser beam. The beam passed through the conformal window on the nose of the aircraft into a range simulator diagnostics system. Conducted at Edwards Air Force Base, Calif., this phase of testing concluded last week.

This milestone builds on the previous successful testing aboard the modified Boeing 747-400F aircraft of the Lockheed Martin-developed Beam Control/Fire Control System, as well as of the Northrop Grumman-developed High Energy Laser and the Boeing-developed Battle Management System. Boeing is ABL’s prime contractor.

“This latest achievement is the result of the commitment of the entire ABL government-industry team to providing a new world-class capability for our nation’s missile defense system,” said Mark Johnson, ABL program director, Lockheed Martin Space Systems Company.

The team next will conduct further ground testing, followed by flight testing of the entire ABL system that will culminate in an airborne intercept test against a ballistic missile.

“As we approach this next historic milestone, the feeling of pride and excitement throughout the entire ABL team is palpable,” said Doug Graham, vice president of advanced programs, Lockheed Martin Space Systems Company.

The Beam Control/Fire Control System locates and tracks the target, determines range to the target and then compensates for atmospheric turbulence. The system’s lower-energy lasers – the Track Illuminator Laser and the Beacon Illuminator Laser – determine where to point and focus the High Energy Laser. The High Energy Laser beam passes through the system’s optical path before exiting through the conformal window on the nose of the aircraft on its way to the target. Flight testing in 2007, using a surrogate High Energy Laser, verified the ability of the Beam Control/Fire Control System to maintain the focus of the laser beam while continuously tracking a target.

ABL will destroy a ballistic missile during its boost phase, while it is still accelerating in the Earth’s atmosphere and before it can deploy its warheads. The Missile Defense Agency manages the ABL program, which is executed by the U.S. Air Force from Kirtland Air Force Base, Albuquerque, N.M. The Boeing Company (NYSE: BA) provides the modified aircraft and the Battle Management System and is the overall systems integrator. Boeing’s ABL industry partners are Northrop Grumman (NYSE: NOC), which supplies the High Energy Laser and the Beacon Illuminator Laser, and Lockheed Martin Space Systems Company, Sunnyvale, Calif., which provides the Beam Control/Fire Control System, including the nose-mounted turret.

Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile. The company makes significant contributions to most major U.S. missile defense systems and participates in several global missile defense partnerships.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Deutsche Börse has further expanded its index offering, adding Xpect, an innovative index family for longevity data from 1 December. Longevity indices serve for the valuation of longevity risk and they also serve as a basis for financial instruments, e.g. for the securitization of life and pension insurance risks. Insurance companies and pension funds will thus increase their capital efficiency and lower their required risk capital.

The Xpect Indices will be offered as two different index types, providing information on life expectancy and mortality risks in Germany and the Netherlands, broken down according to region, year of birth and gender. The 18Xpect Cohort Indices track the mortality of a model portfolio of 100,000 people born in each of 20 consecutive years. Xpect Age Indices measure the average remaining life expectancy of the population aged 65 and over. The Xpect Cohort Indices will be calculated on the third Friday of every month, and the Xpect Age Indices annually in October. They will be disseminated via the CEF® data feeds. This means that standardized and transparent information will be available more often, more quickly and more up-to-date on the current development of longevity in the various categories for investors and market participants.

Xpect Cohort Indices track so called cohorts. A cohort refers to a particular group in the population, defined by year of birth and gender. On the basis of this demographic data, the index represents a closed portfolio (e.g. of policyholders) starting from a defined date with an initial value of 100,000.

The total number of people in the portfolio is corrected according to the number of deaths, converted for the portfolio, on a monthly basis. The index level thus represents the number of surviving members of the original group of 100,000 people. Deutsche Börse calculates ten Xpect Cohort Indices for Germany and eight for the Netherlands, each representing the two genders in cohort groups of 20 years of birth.

Xpect Age Indices represent the average remaining life expectancy of a defined age and gender group. This involves multiplying, on an annual basis, every year of birth of the age group between 65 and 90 years by the current total life expectancy, and then dividing the sum of these results by the total population in that age group. This figure is of particular interest to pension funds, as it enables them to estimate expected payments much better and more accurately than before. A more transparent index also allows those risks to be placed on the capital market which are associated with higher life expectancy in the population. The Xpect Age Indices are calculated and disseminated in a standardized form for people of retirement age (over 65) separately for men and women.

In addition to the standardized Xpect Cohort and Xpect Age index concepts, Deutsche Börse also calculates tailored indices for its clients, applying structure and calculation method according to the client’s requirements and portfolios.

The Xpect Indices are based on the data service of the same name – Xpect Data, offered by Market Data & Analytics since March 2008. Xpect Data offers the most up-to-date figures for quantitative valuation of longevity risk. The data on population trends in Germany and the Netherlands is collated from various sources, checked, calculated and disseminated on a monthly basis. Data on longevity was previously available from other sources in the market only every three to five years. Xpect Data forms the basis for up-to-date and regular calculations and assessments of generation mortality tables. Xpect Data is based exclusively on transparent and objective statistics, and not on expert opinions.
Further information on Xpect Indices and Xpect Data is available at www.deutsche-boerse.com/xpect_e.

About Deutsche Börse Market Data & Analytics:
Market Data & Analytics calculates and publishes more than 2,500 indices in total. Deutsche Börse thus ranks among the world’s major index providers.

Market Data & Analytics also compiles, distributes, and markets independent capital market information, such as price data, trading statistics, and back office information for banks and financial institutions.

CEF® is a registered trademark of Deutsche Börse.

Further information from Deutsche Boerse Group is available under http://deutsche-boerse.com/press Any questions? Please contact us:
Tel: +49 (0)69-211-11500

Mailto:Media-Relations@deutsche-boerse.com

Under this contract, 10 Canadian CP-140 Aurora aircraft will receive Life Extension Kits consisting of all-new outer wings, center wing lower surface assemblies, horizontal stabilizers, wing and horizontal stabilizer leading edges, and various items to be installed on a conditional basis. Lockheed Martin Life Extension Kits will provide, on average, an additional 20-25 years of service life for the world’s Orion and Aurora fleets and will greatly reduce maintenance costs over the aircraft’s service life.

“Lockheed Martin Life Extension Kits will give the Canadian Forces an additional 15,000 flight hours of service life from their Auroras,” said Ray Burick, Lockheed Martin vice president of P-3/S-3 programs. “The ASLEP solution leverages the knowledge and experience of Lockheed Martin as the original equipment manufacturer to support the P-3 and CP-140 aircraft.”

Canada becomes the fourth customer under the Lockheed Martin P-3 ASLEP program. Other customers for the Life Extension Kits are the Royal Norwegian Air Force and the U.S. Customs and Border Protection. The U.S. Navy is under contract for 13 sets of new outer wings. A proposal for the Taiwan P-3 fleet is also in work.

“Lockheed Martin’s ASLEP solution is the most cost-effective, lowest risk choice for long-term P-3 or CP-140 sustainment,” said Burick. “As the P-3 original equipment manufacturer, Lockheed Martin is uniquely qualified to sustain and support the world’s P-3 fleets.”

Lockheed Martin is a major supplier of logistics systems and lifetime support and performance-based logistics services to military and civil government customers. The corporation provides solutions for platform maintenance, modifications and repair, material readiness and distribution, and global supply chain command and control.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.

Media Contacts:

Rob Gross
Office: 864-299-7435
Email: rob.gross@lmco.comSam Grizzle
Office: 703-413-5775
Email: sam.c.grizzle@lmco.com

Nulka is a rocket propelled active decoy designed to lure anti-ship missiles away from the intended target.  Originally conceived in Australia, and developed under a joint Australian and United States program, it provides warships with a highly effective all-weather defence against anti-ship missiles, bringing together hovering rocket, autonomous system and electronic technologies.

The USS Higgins (DDG-76) was the 100th USN ship to be fitted with the system.

BAE Systems is the prime contractor responsible for system design and integration. Two major US sub-contractors, Lockheed Martin and Aerojet, manufacture the electronic warfare (EW) payload and the rocket motor respectively.

To date approximately 800 Nulka rounds have been produced for the Australian, United States and Canadian Navies and the system has been deployed on some 120 surface combat ships, with deployment on further ship classes planned.  The US warship installations are managed by US Naval Sea Systems Command (NAVSEA) with support from branches of the Navy Surface Warfare Centre (NSWC) and Naval Research Laboratory (NRL).

The potential threat to shipping posed by sea-skimming missiles is very real, according to BAE Systems Program Manager Simon Forrest.

“When navies send warships and sailors into harm’s way it is essential that they have the very best protection available. Nulka has the capability to defeat the threat from anti-ship missiles, providing vital protection to those who work to protect us”.

“BAE Systems’ Australian business, which employs some 5 500 people across more than 50 sites, has played a leading role in the development and production of Nulka for some 20 years, and is proud of its contribution towards the establishment of such a capable missile defence system,” Simon adds.

About BAE Systems:

BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With approximately 100,000 employees worldwide, BAE Systems’ sales exceeded £15.7 billion (US $31.4 billion) in 2007.

For further information contact:

Simon Latimer, BAE Systems Australia
Tel: +61 (0) 8 8480 8759, Mob: +61 (0) 401 674 110
simon.latimer@baesystems.com

John Neilson, BAE Systems plc
Tel: +44 (0) 1252 384795
john.neilson@baesystems.com

Issued by:

BAE Systems, Farnborough, Hampshire GU14 6YU, UK
Tel: +44 (0) 1252 384719 Fax: +44 (0) 1252 383947
24hr media hotline: + 44 (0) 7801 717739
www.baesystems.com

The number of purchase-sale transactions decreased by one fourth compared to the 3rd quarter of the previous year and more than one tenth compared to the previous quarter. The total value of purchase-sale transactions was 8.2 billion kroons in the 3rd quarter. This was 35% less compared to the same time of the previous year and 18% less compared to the 2nd quarter. The economic recession, more restricted loan terms and the decreased purchasing power are the main factors having negative impact on the real estate market.

54% of the purchase-sale contracts were concluded for the transfer of dwellings, 25% for unimproved registered immovables, 14% for residential buildings and 7% for non-residential buildings. Compared to the 3rd quarter of 2007, the number of purchase-sale transactions of dwellings and residential buildings decreased the most — 27% and one third, respectively.

In the 3rd quarter, the average value of a purchase-sale transaction was 970,000 kroons. Since the 4th quarter of 2006, the average value of a transaction has continuously been decreasing. In the 3rd quarter of this year compared to the 3rd quarter of the previous year, the average value of a transaction decreased by 14%. The greatest decline, i.e. by almost a third, was detected in the average value of unimproved registered immovables.

42% of purchase-sale transactions were notarised with respect to the objects located in Tallinn and Harju county. The value of these transactions accounted for 60% of the total value of purchase-sale transactions.

source: Statistics Estonia

UAVs provide front line units with vital real-time intelligence without the need for  conventional air support. Until now, the ability to rapidly deploy these platforms by individual Platoons has been limited to very small systems (typically weighing 3-5 kg) which have limited capability.  More capable UAVs have not been suitable due to a  need to use large, cumbersome catapult or rocket-based launchers.

The new device, developed under a programme code-named ‘Project Artful’, is simple, easy to use, and portable. It allows UAVs of up to 25 kg in weight to be paired with a mortar-based launch mechanism, which has European and world-wide patents pending. This makes it possible for individual front line units to rapidly deploy such systems, significantly enhancing their operational effectiveness.

“ We identified that the burden of transporting launch and support equipment has been a major factor in preventing the use of small UAVs on the front line,” states Chris O’Brien, from BAE Systems. “This new system dispenses with the need for specialist launch equipment such as rockets and catapults, bringing Brigade-level capability to individual Platoons. It can work with a wide variety of different UAVs and mortars without the need for re-qualification.”

‘Project Artful’ was initially developed by BAE Systems’ Military Air Solutions business, based in North West England, but quickly grew into a partnership involving  a number of small and medium enterprises including IBEX Ropes, Cranfield Aerospace and Blue Bear Systems Research. The Company’s Land Systems business was also part of the ‘Project Artful’ team.

A key goal was to develop a method of reducing the enormous forces produced by the mortar launch to a level survivable by the UAV.

Rebecca Darby, a graduate engineer for BAE Systems explains, “By developing and applying scientific methodologies that hadn’t been used in this area before, we were able to design an innovative UAV launch mechanism.  By using a simple bungee cap based device we have been able to reduce the launch loads placed upon the UAV by a factor of twenty.  The system has been extensively trialled to demonstrate its versatility and reliability.”

About BAE Systems

BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With approximately 100,000 employees worldwide, BAE Systems’ sales exceeded £15.7 billion (US $31.4 billion) in 2007.

For further information please contact:

John Neilson, BAE Systems
Tel: + 44 (0) 1252 384795 Mob: + 44 (0)7802 337704
john.neilson@baesystems.com

Adam Morrison, BAE Systems
Tel:  +44 (0) 1772 852714  Mobile: +44 (0) 7740 740791
adam.morrison@baesystems.com

Issued by:

BAE Systems, Farnborough, Hampshire GU14 6YU, UK
Tel: +44 (0) 1252 384605 Fax: +44 (0) 1252 383947
24hr media hotline: + 44 (0) 7801 717739
www.baesystems.com

Artisan 3D Radar by BAE systems

PARIS, France – BAE Systems has launched its ARTISAN 3D (Advanced Radar Target Indication Situational Awareness and Navigation) radar for the export market at Euronaval.

ARTISAN is designed as a main surveillance and target indication radar for surface vessels.  It provides high performance in difficult environmental and clutter conditions and is ideally suited for operation in the littoral.  ARTISAN is scaleable to suit a range of platforms from offshore patrol vessels to major warships and is designed for the easy insertion of technology upgrades.

In August 2008, the ARTISAN 3D radar was selected by the UK Ministry of Defence to provide the next generation of medium range radars for the majority of the current Royal Navy surface fleet and for the Future Aircraft Carriers (CVF), in a contract valued at £100M.

Paul Laity, Naval Programmes Director, BAE Systems Integrated System Technologies said:

“The ARTISAN 3D embodies world beating technology in a scaleable system architecture, which makes it perfectly suited for a wide range of platform types and different operational requirements.  The fact that ARTISAN 3D has been selected by the Royal Navy, ahead of fierce international competition, is a real vote of confidence in the technology and the performance that it can deliver.”

ARTISAN 3D builds upon a family of mature technology from BAE Systems’ existing portfolio of radars, such as SAMPSON – the multi function radar for the Royal Navy’s Type 45 destroyer and the Commander air defence radar system for the Royal Air Force.

About BAE Systems

BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With approximately 100,000 employees worldwide, BAE Systems’ sales exceeded £15.7 billion (US $31.4 billion) in 2007.

For further information please contact:

Sue Kennard, BAE Systems
Tel +44(0) 1276 603265; mob: +44(0) 7801 712739
sue.kennard@baesystems.com

Stephen Bethel, BAE Systems
Tel +44 (0) 7793 426328
stephen.bethel@baesystems.com

Issued by:

BAE Systems, Farnborough, Hampshire GU14 6YU, UK
Tel: +44 (0) 1252 384605 Fax: +44 (0) 1252 383947
24hr media hotline: + 44 (0) 7801 717739

The next-generation electronic warfare system, called Sea Lightning, is designed to defeat increasingly sophisticated maritime threats by intercepting and classifying threat radars, particularly those on anti-ship cruise missiles. Sea Lightning also will integrate EW capabilities into the Navy’s combat direction and management systems.

“Sea Lightning will fulfill Block 2 requirements and future spiral developments in electronic attack, electro-optical, and infrared technology,” said Greg Smith, vice president of information dominance systems for BAE Systems. “Our combined technological knowhow and capabilities are aligned with the Navy’s vision and need for a system that can combat the latest enemy threats.”

The Sea Lightning team “combines General Dynamics’ expertise in open architecture, naval systems, and subsystems integration with BAE Systems’ expertise in electronic warfare,” said Mike Tweed-Kent, vice president and general manager of integrated combat systems for General Dynamics Advanced Information Systems. “Our team’s relevant Block 1 experience, leveraged with BAE Systems’ mature EW capabilities, will lower development cost and shorten the execution schedule.”

The Surface Electronic Warfare Improvement Program Block 2 is an upgrade to the Navy’s AN/SLQ-32 (V) electronic support measures system. The AN/SLQ-32(V) provides early warning of enemy threats and dispenses chaff decoys to defeat attacks by guided weapons, such as anti-ship cruise missiles. Block 2 will upgrade the system’s receiver, antenna and combat system interface. The Navy is expected to issue a request for proposal for SEWIP later this year and award a contract in 2009.

About BAE Systems
BAE Systems is the premier global defense and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With approximately 100,000 employees worldwide, BAE Systems’ sales exceeded £15.7 billion (US $31.4 billion) in 2007.

For more information, please contact:
Matthew C. Bates, BAE Systems
Tel: +1 603 885 4558 Mobile: +1 603 318 6521
matthew.bates@baesystems.com

Shannon Smith, BAE Systems
Tel: +1 703 907 8257 Mobile: +1 703 967 3854
shannon.n.smith@baesystems.com

www.baesystems.com