Analex buys ComGlobal Systems for $47 million

ALEXANDRIA, Va., 4 April 2005. Analex Corp., a leading provider of mission-critical professional services to federal government clients, today announced the completion of its acquisition of ComGlobal Systems, Inc.

ALEXANDRIA, Va., 4 April 2005. Analex Corp., a leading provider of mission-critical professional services to federal government clients, today announced the completion of its acquisition of ComGlobal Systems, Inc., a software engineering and information technology firm primarily serving federal government agencies and organizations.

ComGlobal specializes in command, control, communications, computers and intelligence (C4I) programs for the military, and its largest customer is the U.S. Navy's Tomahawk Cruise Missile Program.

With the ComGlobal acquisition, Analex has more than 1,100 employees, approximately 70% of whom hold security clearances. ComGlobal also extends Analex's presence in strategic federal locations, including San Diego and San Jose, Calif.; Las Vegas, Nev.; Pascagoula, Miss., Norfolk and Arlington, Va.

"The professional staff of ComGlobal has provided critical support to our Nation's security for more than a decade. We welcome them to Analex and look forward to working together to continue to provide the highest levels of service to our customers," said Sterling Phillips, Analex's Chairman and CEO.

"The addition of ComGlobal is indicative of the company's continuing commitment to its strategy of acquiring important and synergistic businesses serving classified U.S. agencies. The ComGlobal acquisition expands our presence within the U.S. Navy, adds to our classified workforce and provides a source of highly skilled software engineers."

"The employee-owners of ComGlobal were seeking an acquirer who shared our people-oriented culture and commitment to excellence in customer support," said Frank Hewitt, ComGlobal's founder and CEO. "We have found the ideal partner in Analex and we are excited about the growth potential of the combined company."

ComGlobal, which was formerly a private, employee-owned company, is now a wholly owned subsidiary of Analex. For its fiscal year ended June 30, 2004, ComGlobal had revenues of $39.4 million with EBITDA margins of 13%. This represents a 17% three-year compound annual revenue growth rate.

Consideration for the acquisition consisted of $47 million in cash, $22 million of which was financed with senior bank debt from Bank of America and $25 million of which came from the previously announced sale of additional Series B Convertible Preferred Stock to GE Pension Trust, New York Life Capital Partners and Pequot Capital. ComGlobal Systems Inc. was represented in this transaction by BB&T Capital Markets | Windsor Group, a division of Scott & Stringfellow, Inc.

Analex specializes in providing intelligence, systems engineering and security services in support of our nation's security. The company develops innovative technical approaches for the intelligence community, analyzes and supports defense systems, designs, develops and tests aerospace systems, and provides a full range of security support services to the U.S. government. For more information, see www.analex.com.

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