Matrix Service Announces It Will File a Form 12b-25 for Extension of Time to File Its Annual Report on Form 10-K for Fiscal Year Ended June 30, 2010 and Delay Issuance of Fourth Quarter Earnings Release

TULSA, Okla., Sept. 10 /PRNewswire-FirstCall/ -- Matrix Service Company (Nasdaq: MTRX) announced today that it will file a Form 12b-25 with the Securities Exchange Commission, which will give the Company until September 28, 2010 to file its Form 10-K. Upon filing on or before September 28, 2010, the Company's Form 10-K will be deemed to be timely filed. The Company is requesting the extension in order to complete an investigation into recently discovered alleged fraudulent activities by current and former employees in one operating location in the United States. The current employees have been suspended without pay pending the outcome of the investigation.

The Company is currently evaluating the information it has obtained regarding the alleged activities, but believes the overall financial impact will not be material. The Company believes that the investigation will be concluded in time to file its fiscal year 2010 Form 10-K on or before September 28, 2010; however, it is possible that the Company will not be able to meet the extended filing deadline.

The Company will also delay its fourth quarter and fiscal 2010 earnings release and investor conference call, previously scheduled for Monday, September 13, 2010. The Company will make a further announcement in a subsequent press release to reschedule the date and time of the earnings conference call.

About Matrix Service Company

Matrix Service Company provides engineering, construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries.

The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities located in California, Delaware, Illinois, Michigan, New Jersey, Oklahoma, Pennsylvania, Texas, and Washington in the U.S. and in Canada.

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as "anticipate," "continues," "expect," "forecast," "outlook," "believe," "estimate," "should" and "will" and words of similar effect that convey future meaning, concerning the Company's operations, economic performance and management's best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the "Risk Factors" and "Forward Looking Statements" sections and elsewhere in the Company's reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.

SOURCE Matrix Service Company