Alabama Awards MAXIMUS Asset Appraisal Contract


MAXIMUS (NYSE:MMS), a leader in technology and services to manage fleets and assets in the public and private sector, announced that the State of Alabama Division of Risk Management (Alabama DORM) has awarded the Company a two-year, $1.6 million contract to perform appraisals of approximately 11,000 structures covered by the State Insurance Fund (SIF).

The appraisals will be used to establish an opinion of insurable replacement cost value and will provide adequate proof-of-loss documentation and meet underwriting requirements. MAXIMUS services will include the appraisal of the individual structures and the recording of certain risk information specific to the Division of Risk Management. MAXIMUS will also convert the data and upload it to the state's current risk management system, DORMIS.

Prior to contracting with MAXIMUS, Alabama DORM had successfully maintained a schedule that enabled them to appraise each structure every nine to ten years utilizing in-house staff. Recent natural disasters have caused a rise in construction costs and raw materials, and as a result the State recognized that it was critically important to ensure that property values were both current and accurate. MAXIMUS will assist the State in providing updated values for all structures covered by the SIF over the next three years.

"Realistic examinations of the replacement values of public structures are necessary as states seek ways to best address and improve responsiveness following the aftermath of natural disasters. Alabama should be applauded for the foresight in anticipating the potential future need for this data. MAXIMUS looks forward to this unique project and partnership," declared the CEO of MAXIMUS, Richard Montoni.

During the last 15 years, MAXIMUS has completed insurance appraisals for thousands of public entities and large risk pools in the United States. The Company has unique qualifications to provide property appraisals to achieve accurate insurance placement and to provide benchmarking data for proof-of-loss substantiation in the event of a catastrophe. MAXIMUS offers expert valuation consultants paired with state-of-the-art technology to support property insurance needs and risk management.

MAXIMUS is one of America's leading government services companies devoted to providing program management, consulting and information technology services. The Company has more than 5,200 employees located in more than 220 offices in the United States, Canada and Australia. In 1999, 2001, 2002, 2003, and 2005 MAXIMUS was selected by Forbes Magazine as one of the Best 200 Small Companies in America for that year. Additionally, MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.

Statements that are not historical facts, including statements about the Company's confidence and strategies and the Company's expectations about revenues, results of operations, profitability, future contracts, market opportunities, market demand or acceptance of the Company's products are forward-looking statements that involve risks and uncertainties. These uncertainties could cause the Company's actual results to differ materially from those indicated by such forward-looking statements and include reliance on government clients; risks associated with government contracting; risks involved in managing government projects; legislative changes and political developments; opposition from government unions; challenges resulting from growth; adverse publicity; and legal, economic, and other risks detailed in Exhibit 99.1 to the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (file number 001-12997).