SI International Awarded $18 Million Federal Retirement Thrift Investment Board Contract
June 21 2005 - 9:55AM
PR Newswire (US)
SI International Awarded $18 Million Federal Retirement Thrift
Investment Board Contract RESTON, Va., June 21
/PRNewswire-FirstCall/ -- SI International, Inc. (NASDAQ:SINT), an
information technology and network solutions (IT) company,
announced today that it has been selected to provide a new call
center and support services to the Thrift Savings Plan (TSP) for
Federal employees. The selection was made through a competitive
procurement. The term of the contract is one base year, with four
one-year options renewable at the Board's discretion. The potential
value of the contract, if all options are exercised, is
approximately $18 million. The new SI International call center, to
be located in Clintwood, Virginia, will initially handle 30% of the
current call volume, and eventually handle 50% of all TSP phone
traffic. It will complement current services provided by a call
center located in Cumberland, Maryland. The TSP is a retirement
savings plan for Federal civilian employees and members of the
uniformed services which is similar to the 401(k) plans offered by
many private employers. It was created by the Federal Employees'
Retirement System Act of 1986. As of May 31, 2005, TSP assets
totaled approximately $157 billion, and retirement savings accounts
were being maintained for more than 3.4 million TSP participants.
About SI International: SI International, a member of the Russell
2000 index, is a provider of information technology and network
solutions (IT) primarily to the Federal government. The company
combines technology and industry expertise to provide a full
spectrum of state-of-the-practice solutions and services, from
design and development to documentation and operations that assist
clients in achieving their missions. SI International is ranked as
the 49th largest Federal Prime IT Contractor by Washington
Technology and has over 3,700 employees. More information about SI
International can be found at http://www.si-intl.com/. The
above-referenced statements may contain forward-looking statements
that are made pursuant to the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. Expressions of future
goals and similar expressions reflecting something other than
historical fact are intended to identify forward-looking
statements, but are not the exclusive means of identifying such
statements. These forward-looking statements involve a number of
risks and uncertainties, which are described in the Company's
filings with the Securities and Exchange Commission. These risks
and uncertainties include: differences between authorized amounts
and amounts received by the Company under government contracts;
government customers' failure to exercise options under contracts;
changes in federal government (or other applicable) procurement
laws, regulations, policies and budgets; the Company's ability to
attract and retain qualified personnel; and the important factors
discussed in the Risk Factors section of the annual report on Form
10-K filed by the Company with the Securities and Exchange
Commission and available directly from the Commission at
http://www.sec.gov/. The actual results may differ materially from
any forward-looking statements due to such risks and uncertainties.
The Company undertakes no obligations to revise or update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
CONTACT: Alan Hill of SI International, Inc., +1-703-234-6854, or
DATASOURCE: SI International, Inc. CONTACT: Alan Hill of SI
International, Inc., +1-703-234-6854, or Web site:
http://www.si-intl.com/
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