AXSYS TECHNOLOGIES RECEIVES ORDER TO SUPPLY INFRARED CAMERA SYSTEMS FOR KUWAITI BORDER SURVEILLANCE

ROCKY HILL, CT - April 18, 2006 - Axsys Technologies, Inc. (NASDAQ:AXYS) today announced that it received an order to supply long-range surveillance systems for the Kuwaiti Border Guard. These systems, which will be deployed in both fixed and vehicle-mounted configurations, will be used to monitor Kuwait's northern border. The contract, which was secured through Axsys' distributor in the Middle East, EG&G Middle East, is valued in excess of $2.5 million and is expected to ship within 2006.

The Axsys solution selected for this application was specifically designed for border and port security. The system includes infrared and visible cameras, each of which can detect man-sized objects at more than 20 kilometers, a laser range finder, and Axsys' newly released pan-and-tilt motion control system.

"This contract win is an important strategic success for Axsys," said Stephen W. Bershad, Chairman and CEO of Axsys Technologies. "This is our first major win in the Middle East, and it is illustrative of our increasing global presence. In addition, the selection of our camera system for this critical border security program demonstrates the strength of our solutions for long-range applications."

The Company's acquisition of Diversified Optical Products, Inc. (DiOP) on May 2, 2005 and strong military spending on surveillance and targeting programs, particularly in the infrared imaging business, were the primary catalysts for year-over-year growth.

About Axsys

Axsys Technologies, Inc. is a vertically integrated supplier of precision optical solutions for high technology applications, serving the aerospace, defense and high performance commercial markets. For more information, visit www.axsys.com.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. One can identify these forward-looking statements by the use of the words such as "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors, which could cause actual results to differ materially, are described in Axsys' reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission, including without limitation: changes in the U.S. federal government spending priorities; the Company's ability to compete in the industries in which it operates, including the introduction of competing products or technologies by other companies and/or pricing pressures from competitors and/or customers; the potential for the Company's backlog to be reduced or cancelled; the Company's ability to implement its acquisition strategy and integrate its acquired companies successfully; the Company's ability to manage costs under the Company's fixed-price contracts effectively; and changes in general economic and business conditions. These statements reflect the Company's current beliefs and are based upon information currently available to Axsys. Be advised that developments subsequent to this release are likely to cause these statements to become outdated with the passage of time, and we specifically disclaim any obligation to update these statements. For more information concerning the foregoing risks and uncertainties, see the Securities and Exchange Commission filings for Axsys.