FOR
IMMEDIATE RELEASE
|
CONTACT(S):
|
Lisa
Miles (Investor)
|
|
|
800-MAXIMUS
x 11637
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|
|
|
DATE: July
23,
2007
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|
Rachael
Rowland (Media)
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|
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800-MAXIMUS
x 11688
|
–
MAXIMUS TO EXPLORE STRATEGIC ALTERNATIVES FOR
ENHANCING
SHAREHOLDER
VALUE –
(RESTON,
Va.– July 23, 2007)– MAXIMUS
(NYSE:MMS), a leading provider of government services, announced today that
it
has retained UBS Investment Bank as financial advisor to assist the Board of
Directors in exploring strategic alternatives to enhance shareholder value,
including a possible sale of the Company. In consultation with its
advisor, the Company expects to review a range of options to best position
the
Company to capitalize on growth opportunities in the government market. The
Company does not expect to disclose further developments regarding the process
until the review of strategic alternatives has been completed, and there can
be
no assurances about the outcome of this process.
CEO
Richard Montoni, commented, “Over the past year, we have worked to focus our
business on its core strengths, improve profitability, and address legacy issues
which has resulted in a stronger organization with a clear strategic
direction. Our pursuit of strategic alternatives is just another step
towards realizing the full potential of the Company."
Peter
Pond, Chairman of the MAXIMUS Board, stated, “Our priority now is to best
position MAXIMUS to continue its mission of serving the government market and
to
provide a platform for accelerated growth going forward. We believe
this process will benefit our clients and employees as well as our
shareholders.”
“Since
its
founding over 30 years ago, MAXIMUS has established a leading brand and
unrivaled capability within the government health and human services market
by
providing cost-effective solutions that best satisfy client
needs. The Company’s success is based on its two greatest assets –
its dedicated employees who lead the market in subject matter expertise and
the
hundreds of long-term client relationships we have established over the years,”
Mr. Pond concluded.
The
Company will host a conference call on Tuesday, July 24, 2007, at 8:30 a.m.
(ET). The call is open to the public and can be accessed under the
Investor Relations page of the Company’s website at www.maximus.com or by
calling:
800.552.8050
(Domestic)/ 206.902.3258 (International)
For
those
unable to listen to the live call, a replay will be available through August
3,
2007. Callers can access the replay by registering for the digital
playback at the following website:
http://reg.linkconferencecall.com/DigitalPlayback/DigitalPlaybackRegistration.aspx?recid=5641.
Upon registration, participants will receive an email with the call back
information.
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.
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 quarterly on Form 10-Q filed with the Securities and Exchange Commission
(file number 001-12997).
CONTACT:
MAXIMUS
Investor
Relations:
Lisa
Miles, 703-251-8637
or
Public/Media
Relations:
Rachael
Rowland, 703-251-8688
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