ATS Corporation Announces New Contract Awards Totaling $28.6 million

MCLEAN, Va., March 4 /PRNewswire-FirstCall/ -- ATS Corporation ("ATSC" or the "Company") (NYSE Amex: ATSC), a leading information technology company that delivers innovative technology solutions to government and commercial organizations, today announced that it has been awarded several new and follow-on contracts totaling $28.6 million with the U.S. Nuclear Regulatory Commission ("NRC"), the Federal Housing Finance Agency ("FHFA") and several large insurance customers.

The new NRC contract totals $21.4 million over a five-year term.  With this award, ATSC will continue to support the NRC's Program Management Methodology (PMM), the major NRC Program Offices, and will maintain the NRC's Rational Tools Suite.  

The new FHFA contract totals $1.4 million over an 18 month term.  Under this award, ATSC will support the agency's efforts to consolidate and modernize its IT infrastructure, which include network design, management and continuity of operations.  The FHFA regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks and was formed in 2008 by the merger of the Office of Federal Housing Enterprise Oversight ("OFHEO"), the Federal Housing Finance Board ("FHFB") and the U.S. Department of Housing and Urban Development ("HUD") government-sponsored enterprise ("GSE") mission team.

ATSC Chairman and Chief Executive Officer Dr. Edward H. Bersoff commented on the two new government awards, "ATSC has been a trusted service provider to the NRC for the past five years.  With this new award, we look forward to continuing our relationship and plan on further assisting the NRC in other business areas in the future.  ATSC has provided application development and IT support to the predecessor organizations that merged into the FHFA for the last six years.  Our longstanding relationship with this customer is a testament to our expertise and ability to provide the tools necessary to support the mission of this recently established organization."

The Company also received an award totaling $4.5 million over 12 months from a large health insurance provider, representing an extension of our current assignment to provide application development support for the organization's claims modernization project.   The remaining $1.3 million in new awards came from several different property and casualty insurance customers, including Arbella Insurance Group, Minnesota Fair Plan, and Michigan Basic Property Insurance Association.  ATSC's insurance practice leverages its domain expertise to deliver technology solutions that improve the efficiency of business operations.    

Bersoff added, "We are very pleased to see our commercial business starting the year with these important wins.   Each of these awards represents extension of our current work, demonstrating our strong track record of performance with our customers."

About ATS Corporation

ATSC is a leading provider of software and systems development, systems integration, infrastructure management and outsourcing, information sharing, training and consulting to the Department of Defense, Federal civilian agencies, public safety and national security customers, as well as commercial enterprises.  Headquartered in McLean, Virginia, the Company has more than 600 employees at 10 locations across the country. 

Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2009, as amended on February 24, 2010. In addition, the forward-looking statements included in this press release represent our views as of March 4, 2010. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to March 4, 2010.

Additional information about ATSC may be found at www.atsc.com.

SOURCE ATS Corporation