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US$34 bill increase in US defence spending

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    President Bush signed into law today a defence bill that increases military spending by more than US$34 billion over the previous fiscal year. The total 2003 defence bill is US$355.4 billion and includes a substantial increase in IT defence spending. Such a massive increase in US defence related spending is very good for Adacel for two reasons. First, it increases the likelyhood of more defence contracts in the near future. (To date, Adacel has won every US defence contract it has bidded for). Second, it increases the likelyhood that the annual options contained in Adacel's existing US defence contracts will be realised. The realisation of these options will substantially increase the value of these contracts.
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