:: News	p1
		News Archive
		:: Conferences	p2
		:: Jobs	p2
		:: Grants & Awards	p2
		:: Business News	p3
		:: Books & Journals	p4
		:: Establishments	p5

Essex Corporation Grants Adaptive Optics Associates Employees Stock Options

		"An important part of the culture at Essex is that every employee is also a shareholder," commented Leonard Moodispaw, CEO and President of Essex Corporation. "I believe that every employee should share in the rewards of the Company's success as a stakeholder, and that this participation stimulates employee and shareholder interests to converge." These grants include the grant of an option to purchase up to 7,500 shares of Essex common stock to Jeff Yorsz, who became an Essex Vice President and General Manager of AOA as part of Essex's acquisition of AOA. The options have an exercise price of $18.85 per share, vest over a period of five years at 20% per year (beginning on the first anniversary of their grant date) and may be exercised for a period of 7 years from their grant date. These options are "inducement grants" to new employees in connection with Essex's acquisition of AOA that qualify under the "inducement grant exception" to the shareholder approval requirements of NASD Marketplace Rule 4350.