Madison, NC - Remington Arms Company, Inc. ("Remington"), a member of the Freedom Group of Companies, is pleased to announce that the United States Army's Joint Munitions and Lethality Contracting Center has awarded Remington a Firm Fixed Price (FFP) Indefinite Delivery/ Indefinite Quantity (ID/IQ) contract (W15QKN-10-R-0403) for the upgrade of up to 3,600 M24 Sniper Weapon Systems (SWS) currently fielded to the Army pending type classification as the "M24E1". The major configuration change for this system is the caliber conversion from 7.62mm NATO (.308 Winchester) to .300 Winchester Magnum to provide soldier's with additional precision engagement capability and range. The contract is for a five (5) year period and has guaranteed minimum value of $192K with a potential value of up to $28.2 million. This award follows a full and open competitive evaluation lasting 9 months, which began with the release of the Army's Request for Proposal (RFP) on 13 January 2010. The program will be executed under the authority of Project Manager Soldier Weapons, Picatinny Arsenal, NJ, and managed by its subordinate unit, Product Manager Individual Weapons.

Remington has a 22-year tradition of manufacturing long-range precision sniper rifles for the U.S. military and this award demonstrates Remington's continued leadership in the art of producing sniper rifles for military applications. The M24 SWS was competitively selected by the Army as its first purpose-built sniper rifle on 27 July 1988, and the first 100 production systems were fielded on 25 October 1988. Thus far, Remington has produced nearly 15,000 M24 Sniper Weapon Systems, and the M24 is still produced today. Each rifle is tested to meet (and typically exceeds) the requirement to fire 1 minute-of-angle (less than 2-inch group at 200 yards) before being released for fielding. Remington is the military depot-level maintenance facility for the M24 and repairs and overhauls hundreds of fielded systems each year for the Army, other military services, agencies, and nations. .

"We are honored to be providing US soldiers with the M24E1 solution - an evolutionary leap in precision engagement capability and survivability," noted Jason Schauble, Vice President of Remington's Defense Division, "Remington has made significant investments in manufacturing modernization, end-user driven research and development, and complementary technologies to provide a wide range of reliable, durable, and maintainable small arms solutions, and the M24E1 award is a significant achievement for our company and its proud U.S. workforce. "
This long tradition of production and repair makes Remington the natural choice to upgrade this venerable system for the Government. Current operations in Southwest Asia exposed the need for a more powerful and longer-range sniper round. The baseline M24 was designed from inception to chamber a longer and more powerful round than the 7.62mm NATO, so an obvious solution to the capability gap was to finally exploit the M24's long bolt action and chamber it for .300 Winchester Magnum.

The M24E1's capabilities meet the initial requirement spelled out in the Operational Needs Statement (ONS) submitted by the 10th Mountain Division on 14 March 2006 while conducting operations in Afghanistan. Senator Charles Schumer (D-NY) and Representative Michael Arcuri (D-NY) supported this operational need and led the effort in the Congress to ensure funding of the Army's M24 upgrade program in both FY09 and FY10. Senator Schumer and Representative Arcuri were also instrumental in supporting a revision of the New York State law on suppressors to allow the Remington facility in Ilion N.Y. to possess and test military weapons.

Remington's winning sniper rifle features the following enhancements above and beyond caliber conversion from 7.62mm NATO to .300 Winchester Magnum:
- A completely new chassis (stock) assembly, which maximizes the amount of physical adjustments for the sniper to provide a true customized fit. The chassis has a folding buttstock that radically shortens the system for easier transport and greater concealment during movement and accommodates the mounting of accessories via removable Mil Std 1913 Picatinny Rails.
- An improved 6.5-20x50 variable power Leupold® riflescope with an enhanced reticle within the first focal plane and a .300 Winchester Magnum bullet-drop compensator (BDC)
- A quick-attach/detach Advanced Armament Corp.® suppressor with muzzle brake
- A 5-round detachable box magazine
- Advanced corrosion resistant coatings throughout the system

While virtually every aspect of the M24E1 has been updated and improved, the U.S. Army specifically required that the M24E1 continue to be built around the same 700™ series long action and that the fire control requirement continue to be met by the combat proven M24 SWS fire control. The M24E1's fire control is set to a pull weight requirement of 3 to 5 lbs pull +/- 8oz, and has been found to survive near constant use, in and out of theater, for well over 10 years of service without adjustment or replacement.
Remington Defense looks forward to working with PM Soldier Weapons to rapidly field this system to the Army and other American military services, agencies, and allies to improve the capability of our nation's highly trained and capable snipers.

The Remington point of contact for the M24E1 program is Trevor Shaw, Director of Defense Programs, (336) 548 8577, trevor.shaw@remington.com. Remington's complete military product line can be viewed at www.remingtondefense.com.

About Remington Arms Company, Inc.
Remington Arms Company, Inc., founded in 1816 and headquartered in Madison, N.C., designs, produces and sells sporting goods products for the hunting and shooting sports markets, as well as solutions to the military government and law enforcement markets. With plants and facilities in Ilion, NY, Lonoke, AR, Elizabethtown and Mayfield, KY, Remington is the only United States manufacturer of both firearms and ammunition products and one of the largest domestic producers of shotguns and rifles. The Company distributes its products throughout the U.S., and in more than 55 foreign countries. More information about the Company can be found at www.remington.com.