SAIC and Veterans Administration Extend MOU for Growth of Veteran-Owned Businesses

SAN DIEGO and MCLEAN, Va. , April 17 /PRNewswire-FirstCall/ -- Science Applications International Corporation (NYSE: SAI) today said its agreement with the Department of Veterans Affairs Center for Veterans Enterprise (CVE) to furnish technical...


SAN DIEGO and MCLEAN, Va. , April 17 /PRNewswire-FirstCall/ -- Science Applications International Corporation (NYSE: SAI) today said its agreement with the Department of Veterans Affairs Center for Veterans Enterprise (CVE) to furnish technical assistance and procurement opportunities to veteran-owned small businesses has been a success and has been extended thru 2009.

"We believe it is good policy and good business to help our veterans," said Arnold Punaro , SAIC executive vice president. "This program has helped SAIC to both exceed government requirements for subcontracts for veteran-owned businesses and deliver great service to our customers. We are pleased to continue this process with the CVE."

In Government Fiscal Year 2007, SAIC issued 4.5% of its subcontracts awards to service-disabled veteran-owned businesses, significantly exceeding the government mandated 3% goal. In total, SAIC subcontracted $206 million to veteran-owned businesses. Overall, SAIC issued over $1.2 billion in subcontract awards to small businesses for the same period.

SAIC and the VA have provided formal training at no cost to the government or to veterans for some 50 service disabled veteran-owned firms and business development assistance to about 150 veteran-owned firms. Approximately 290 representatives from these firms attended the events. In addition, SAIC has conducted business development forums or matchmaking sessions with service disabled veteran-owned firms.

"This is an example of what the federal government and industry can jointly achieve when they work together toward a common goal," said Scott Denniston , Director, Small Business Programs, and the Department of Veterans Affairs. "Our agency is committed to the growth of veteran-owned small businesses. This is good business and beneficial to the nation."

About SAIC

SAIC is a FORTUNE 500(R) scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 44,000 employees serve customers in the Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. SAIC had annual revenues of $8.9 billion for its fiscal year ended January 31, 2008 .

For more information, visit http://www.saic.com. SAIC: From Science To Solutions(R)

Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2008 , and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

SOURCE SAIC