Kratos Defense & Security Solutions Prices Offering of 20M Shares at $5.00

Kratos Defense & Security Solutions, Inc.

, a leading national security solutions provider, announced today the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a purchase price of $5.00 per share. The gross proceeds to the Company from this offering are expected to be $100,000,000, before deducting underwriting discounts and other estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an aggregate of 3,000,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by Kratos. The offering is expected to close on or about May 14, 2012, subject to customary closing conditions.