ATS Corporation Announces New Contract Award Totaling $30 Million with the Pension Benefit Guaranty Corporation

MCLEAN, Va., June 23, 2011 /PRNewswire/ -- 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 a new Indefinite Delivery, Indefinite Quantity ("IDIQ") contract with a $30 million ceiling over a multiple year term by the Pension Benefit Guaranty Corporation ("PBGC"). This single-award contract, beginning this month, represents the continuation of the Company's software development, maintenance, and operational services to PBGC's Office of Information Technology in managing the Benefit Management Applications ("BMA") suite of solutions for its core business division, the Benefit Administration Payment Department. The purpose of the BMA suite of applications is to manage beneficiary information and disbursement of pension benefit payments exceeding $440 million each month to over 750,000 people.

"ATSC is pleased to continue its ten-year partnership with PBGC in supporting its critical mission that includes the timely and uninterrupted payment of pension benefits. While we have several active contracts with this customer, this award represents the largest effort, and the contracting vehicle provides the flexibility for us to broaden the range of support we provide," said ATSC Co-Chief Executive Officer and Chief Financial Officer, Pamela Little.  "Furthermore, this award represents one of the last back-to-back key recompete and follow-on contracts for us, which has secured much of our business for the next few years and significantly added to our backlog."  

About ATS Corporation

ATSC is a leading provider of mission-critical support in areas of recurring and fundamental services to the public. ATSC's main technical competencies include software and systems development, IT infrastructure and cloud computing, information sharing and assurance, IT and business consulting, and systems integration to Federal civilian agencies and national security customers, as well as commercial enterprises. ATSC technology professionals are recognized for their deep domain expertise in case management; border and port security; and financial, supply chain management and health information systems. Headquartered in McLean, Virginia, the Company has approximately 500 employees at 4 locations across the country. Additional information about ATSC may be found at www.atsc.com.

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 February 17, 2011. In addition, the forward-looking statements included in this press release represent our views as of June 23, 2011. 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 June 23, 2011.

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

SOURCE ATS Corporation