REP. G.V. MONTGOMERY (D-MS)

On July 13, 1992, Rep. Montgomery purchased between 1,000 and 15,000 dollars worth of stock in Irvine Sensors. At the time of his purchase, Irvine Sensors had a secondary stock offering in progress. The offering was priced at $4.25 per share; Paulson Investment was the Book Manager.

Irvine Sensors is a major defense contractor specializing in infrared sensing technology, and computer chips.

Rep. Montgomery purchased this stock at the same time he, as a member of the House Armed Services Committee, was working on creating the DEFENSE APPROPRIATIONS ACT for fiscal 1993 (H.R. 5006/102 P.L. 484). During debate on H.R. 5006, two amendments were offered to reduce funding for the Strategic Defense Initiative. Rep. Montgomery voted NAY on both of these amendments (Roll #'s 168 and 169).

One year later (July 14, 1993), the Los Angeles Times reported that Irvine Sensors had been awarded a 5.2 million dollar Strategic Defense Initiative contract to develop neural network sensors for ballistic missile defense. The DEFENSE APPROPRIATIONS ACT F'93 included billions of dollars for SDI research.

NOTES: Rep. Montgomery is # 2 on the House Armed Services Committee.