Elkridge, MD. February 27, 2008. -- Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), has been awarded a Homeland Security Exercise Program (HSEP) contract by the State of Tennessee, Department of Safety, Office of Homeland Security. GP values the contract at up to $1.24 million if all exercises are conducted as scheduled.
Under this contract, GP will plan, develop, conduct, and report the results of 11 exercises over a 17-month period, starting in February 2008. The tabletop, functional, and full-scale exercises will focus on the preparations for, response to, and recovery from pandemic influenza occurrences; chemical, biological, radiological, nuclear, or explosive (CBRNE) incidents; and catastrophic events.
This is the fourth consecutive Homeland Security exercise contract awarded to GP by the State of Tennessee, dating back to 2002 and the Hospital Bioterrorism Preparedness Program. GP is currently supporting the Tennessee Department of Health with their Hospital Pandemic Influenza Exercise program.
GP is the principal operating subsidiary of GP Strategies Corporation (NYSE: GPX). GP is a global performance improvement solutions provider of training and e-learning solutions, management consulting, and engineering services. Through its PMC, Sandy Corporation and Via Training divisions, GP provides custom sales training solutions. GP’s solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting, and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpworldwide.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer