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SI International Wins $16 Million Federal Retirement Thrift Investment Board Contract

SI International Wins $16 Million Federal Retirement Thrift Investment Board Contract

RESTON, Va., March 30 /PRNewswire-FirstCall/ -- SI International, Inc. , an information technology and network solutions (IT) company, announced today that it has been awarded a contract to provide business process outsourcing services to the Federal Retirement Thrift Investment Board (FRTIB). SI International will support the processing, imaging, and data entry of 401(k) applications and forms for the Thrift Savings Plan (TSP). The prime contract has a two-year base period and two two-year options with a potential value of approximately $15.9 million, inclusive of the options.

SI International has supported the FRTIB for over 8 years. The Company designed, developed, and deployed a new TSP system for federal and uniformed services employees. It includes IVR and web capabilities that enable participants to monitor and access their accounts. The system includes payroll interfaces to federal agencies, as well as with the Federal Reserve, Barclays, and the Department of Treasury, using a Joint Financial Management Improvement Program (JFMIP) approved accounting package. In 2004, SI International was selected to provide data center and disaster recovery site services. In 2005, SI International was selected to provide call center and support services to the TSP. In 2006, SI International was selected to provide accounting, legal processing, death benefits, and payroll contribution and loan repayment services.

"Through our past work with the Federal Retirement Thrift Investment Board, SI International has been recognized for rapidly responding and deploying robust IT solutions," said Brad Antle, President and CEO of SI International. "We are honored to have been selected to support this important business function. We look forward to working with the FRTIB to provide the TSP, its participants, and their families with the best quality of service and support."

The TSP is a retirement savings plan for Federal civilian employees from all branches of government, including the U.S. Postal Service and members of the uniformed services. The TSP is similar to the 401(k) plans offered by many private employers and was created by the Federal Employees' Retirement System Act of 1986. As of February 2007, TSP assets totaled approximately $210 billion, and retirement savings accounts were being maintained for over 3.7 million TSP participants.

About SI International: SI International, a member of the Russell 2000 index, is a customer-focused professional services company, delivering critical information technology solutions and services enhancing mission capabilities, principally for the federal government. The Company defines, designs, develops, deploys, trains, operates, and maintains information technology and network solutions for federal civilian and defense agencies. SI International is ranked as the 40th largest Federal Prime IT Contractor by Washington Technology and has approximately 4,300 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, financial information or reporting, 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 may 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: changes in federal government (or other applicable) procurement laws, regulations, policies and budgets; risks relating to contract performance; changes in the risks associated with the competitive process or environment (including as a result of bid protests); and the important factors discussed in the Risk Factors section of the annual report on Form 10-K/A 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 VP, Corp. Communications 703-234-6854 alan.h[email protected]

SI International, Inc.

CONTACT: Alan Hill, VP, Corp. Communications of SI International, Inc.,
+1-703-234-6854, [email protected]

Web site: http://www.si-intl.com/

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