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For immediate release: February 28, 2006

MDA Reports Fourth Quarter and Fiscal Year 2005 Results

Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, today reported financial results for the fourth quarter and year ended December 31, 2005. Fourth quarter net earnings increased to $20.1 million, or $0.49 per diluted share, on revenues of $205 million. Full year net earnings increased to $1.68 per diluted share on revenues of $833 million.

During the fourth quarter, the Company performed well across most of its markets and made strategic progress on its long-term goals. In its Information Products business, the Company posted strong results across all geographic regions and continued to develop and add to its broad range of product offerings. In addition, the Company reached a key milestone in its plans to expand its product offerings to include decisioning applications and further penetrate the U.S. mortgage lending sector by acquiring MindBox, LLC on January 3, 2006.

The Company also made substantial progress in its Information Systems business. In the fourth quarter, the Company completed its purchase of the business of EMS Canada, which brings a major supplier directly under MDA's control and improves the value-added content of future space-based information solutions requiring data collection and distribution. The Company continued to work through its substantial order backlog and pursue key multi-year projects.

Results from Operations

Three months ended
December 31,
Year ended
December 31,
2005
2004
2005
2004

($ millions, except per common share amounts)
Consolidated revenues
204.8
200.1
832.9
751.4
Earnings before income taxes
22.3
20.9
91.6
78.4
Net earnings
20.1
14.0
68.1
52.5
Net earnings per diluted share
0.49
0.35
1.68
1.33


Consolidated revenues for the three months ended December 31, 2005 increased to $205 million. Information Products revenues increased to $122 million compared to $109 million for the same period last year and Information Systems revenues were $83 million compared to $91 million for the same period last year. Firm and funded backlog as at December 31, 2005 totalled $757 million.

Net earnings for the fourth quarter increased to $20.1 million, or $0.49 per diluted share, compared to $14.0 million, or $0.35 per diluted share, for the same period last year.

For the year ended December 31, 2005, consolidated revenues amounted to $833 million, up 11% despite unfavourable foreign currency fluctuations. Information Products revenues increased to $483 million and Information Systems revenues increased to $350 million. Net earnings reached $68.1 million, or $1.68 per diluted share, compared to $52.5 million, or $1.33 per diluted share, reported in 2004.

Results for 2005 continued to be negatively impacted by the appreciation of the Canadian dollar against the U.S. dollar and the pound sterling. Excluding the impact of foreign currency fluctuations (restating current results for the Company's self-sustaining foreign operations at the rates in use a year ago), consolidated revenues for the year ended December 31, 2005 would have increased by an additional $29 million and net earnings per diluted share would have increased by an additional eight cents.

In the fourth quarter of 2005, the Company reassessed, with greater certainty, the income tax rates expected to apply to future income tax balances, resulting in an income tax rate of about 25% for 2005 and the coming year.

For the year, the Company generated strong cash flow of $109 million from operating activities which was used to pay down long-term debt. At December 31, 2005, the Company accrued contingent consideration payable of $105 million related to the acquisition of Marshall & Swift in June 2004. Payment of the contingent consideration, due in the first quarter of 2006, will primarily be funded with long-term debt.

About MDA

MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.

Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.

MDA employs more than 2,700 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.

MDA's Fourth Quarter and Fiscal Year 2005 unaudited Consolidated Financials are available at: http://www.mdacorporation.com/investor/financial_reports.shtml

Investor/Analyst Conference Call Today

MDA President and CEO Daniel Friedmann and Executive Vice President and CFO Anil Wirasekara will be available on a Conference Call today, February 28, 2006 at 1:30 p.m. Pacific (4:30 p.m. Eastern) to explain the financial results of the Company and to answer questions.

To participate, dial 1-866-898-9626 in Canada or the United States
In Toronto, dial 416-340-2216

The Conference Call will also be Webcast live at:
http://www.mdacorporation.com/investor/events.shtml

Related Websites:
www.mdacorporation.com

Forward-Looking Statements

This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.

The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.



For more information, please contact:

Wendy Keyzer
MDA External Relations
Telephone: 604-231-2743
E-mail: wendy@mdacorporation.com


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