ManTech Completes The Acquisition Of SRS Technologies, Inc.

Fairfax, VA - ManTech International Corporation announced that on May 7, 2007 the Company completed the acquisition of SRS Technologies, Inc. (SRS) under the terms of the definitive purchase agreement signed on April 6, 2007. SRS is a provider of high-end, mission-critical, advanced technology systems engineering and Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance services and solutions. Their largest customers include the Department of Homeland Security, the U.S. Air Force, the National Reconnaissance Office, the National Geospatial-Intelligence Agency, the Missile Defense Agency and the Defense Advanced Research Projects Agency.

Headquartered in Newport Beach, CA and founded in 1970, SRS is a privately-held company with specialized domain knowledge in the areas of space-based radar and communications; chemical, biological, conventional and nuclear weapons detection and defeat programs; imagery intelligence; and aeronautic, space and information systems development. More than 85 percent of its revenue is derived from the Department of Defense, Intelligence Community and the Department of Homeland Security. SRS is well positioned in its markets with over $750 million in backlog as of March 2, 2007. The Company expects to deliver over $175 million in revenue in their FY 2007, which ends in August 2007.

Robert A. Coleman, President and COO, ManTech International Corporation said, "We formally welcome SRS to the ManTech team and are extremely excited about the prospects for our combined company going forward. As we have said many times since the announcement, SRS deepens our position as a leading player in the national security marketplace and provides us access to new markets in national defense agencies which we believe will continue to play a leading role in counter-terrorism and homeland security initiatives."

As detailed in its earnings press release from May 1, 2007, ManTech expects SRS to deliver $120M in revenue for the remainder of 2007 and will be neutral to earnings per share for the remainder of 2007. The Company expects SRS to contribute $27M in revenue for the remainder of the second quarter.

The Company used cash available and $170M in borrowings from its new senior secured $300M credit facility to finance the acquisition.

SOURCE: ManTech International Corporation