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PRICE Systems Announces Major Win in Federal Market: US Naval Air Systems Command Extends PRICE Systems Support for Five More Years

MT. LAUREL, NJ / February 26, 2004 / PRICE Systems, the world leader in Program Affordability Management solutions for the global Federal market, today announced a contract with the US Naval Air Systems Command (NAVAIR). The five-year contract represents $10 million in revenues. PRICE Systems was selected as a provider of Cost Estimating and Analysis and Earned Value Management services for Naval Air Systems Command (NAVAIR 4.2).

PRICE has been providing these services under a Blanket Purchase Agreement (BPA) for two years. The company currently supports nine different programs on this BPA and has been able to assist NAVAIR in special surge requirements. This new BPA extends PRICE Systems' support for another five years.

"PRICE is dedicated to building long-term relationships with our clients," said Anthony DeMarco, president of PRICE Systems. "This agreement strengthens our relationship with NAVAIR to help them implement consistent cost management practices and ensure program affordability."

NAVAIR engaged with PRICE Systems' Consulting Division, based in Arlington, VA. PRICE consultants are experts in Program Affordability Management: defining, controlling and containing cost, with Defense and Federal Civilian specialties in building budgets, evaluating performance, identifying risk, analyzing tradeoffs and continuously monitoring program value.

PRICE Systems put together a team for the new BPA that includes SyTech, The Bionetics Corporation and Veridian. "With fast changing requirements, NAVAIR is looking for a well-balanced team to give them flexible options. Our team does that very well," said Larry Reagan, Vice President for PRICE Systems Consulting Services Division.