Titan Corporation Announces Recent Awards
From U.S. Army Totaling Approximately $20 Million
Under the new five-year, $18 million O&M contract, Titanıs subsidiary DBA Systems, Inc. will provide continued software and hardware operations and maintenance support to the MIES systems developed by DBA at Army sites in Fort Bragg, NC, Fort Gordon, GA and Mainz-Finthen, Germany. The initial award under the contract, covering O&M support through year-end 1998, totals $3.5 million.
Additionally, Titan received an award of approximately $2 million to perform increased Interface Control Document (ICD) initiatives under an existing MIES development contract. These initiatives, also to be performed by DBA Systems, encompass several elements including Year 2000 compliance for MIES in accordance with national level ICD migration strategies. The award brings the value of the existing contract to $39.5 million and extends the performance period through June 1999.
"These awards are significant," stated Gene W. Ray, Titan President and Chief Executive Officer, "as they illustrate the continued growth in DBA Systemsı core business of imagery exploitation and analysis, as well as the favorable positioning of DBA as a supplier of value-added products and services to governmental and military customers."
The Titan Corporation, headquartered in San Diego, California, provides state-of-the-art information technology and electronic systems and services for commercial and government clients. DBA Systems, Inc. is an operating company of Titan Technologies and Information Systems, Corp., a wholly owned subsidiary of The Titan Corporation.
"Safe Harbor" Statement under the Private Securities Litigation Reform act of 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Companyıs entry into new commercial businesses, dependence on continued funding of U.S. Department of Defense programs, government contract procurement and termination risks, and other risks described in the Companyıs Securities and Exchange Commission filings.