Fortress International Group Closes $51 Million of New Work in January

COLUMBIA, Md., Jan. 31 /PRNewswire-FirstCall/ -- Fortress International Group (Nasdaq: FIGI), holding company for Total Site Solutions (TSS), a company providing comprehensive services for the planning, design and development of mission-critical...


COLUMBIA, Md., Jan. 31 /PRNewswire-FirstCall/ -- Fortress International Group (Nasdaq: FIGI), holding company for Total Site Solutions (TSS), a company providing comprehensive services for the planning, design and development of mission-critical facilities and information infrastructure, today announced that new contract awards for the month of January reached $51 million. The new work is comprised of two new contracts totaling $43 million with existing customers plus $8 million in additional projects with other customers. The projects involve work at various facilities located throughout the United States .

Tom Rosato , Chief Executive Officer of Fortress commented, "We continue to benefit from the strong demand for conditioned data center space in the US market. These projects all carry a component of technology consulting, construction management and facility management, and the revenues will move us closer to our goal of generating more than 50% of our EBITDA profit from recurring revenue sources. The locations of these projects increases our geographic foot print and further enhances our reputation as one of the premier providers of mission-critical facilities and information infrastructure."

Gerard Gallagher , CEO/President of Total Site Solutions added, "The success we have experienced over the past few months continues to demonstrate the validity of our Go-to-Market methodology. These customers recognize our unique ability to address their concerns in these highly technical and specialized environments, and we are establishing relationships that we believe will generate repeat business in the near and long term. These new projects demonstrate our proven capability as a long term provider of services in the complex and demanding mission-critical facilities environment."

Chief Financial Officer Tim Dec commented, "These projects have unique fast track schedules which underscore the urgent need for mission-critical facilities. The projects involve work across all business units and furthermore, we believe that approximately 55% of these awards will be recognized as revenue in 2008. The new work of the past three months will add significantly to our EBITDA growth expectations."

ABOUT TOTAL SITE SOLUTIONS

Total Site Solutions (TSS) plans, designs, builds and maintains specialized facilities such as data centers, trading floors, call centers, network operation centers, communication facilities, laboratories and secure facilities. For more than a quarter-century, the TSS team has pioneered building robust and scalable infrastructure into mission-critical facilities. The firm offers unsurpassed expertise in the infrastructure systems (electrical, mechanical, telecommunications, security, fire protection and building automation) that are the critical facility's lifeblood. TSS's comprehensive portfolio of services and multi-disciplinary expertise provide customers a highly respected single source for critical services that bridge the gap between IT and facilities.

Headquartered in the Baltimore-Washington corridor, TSS provides complete turnkey facility services from the initial planning stages, to construction, to ongoing maintenance of the completed project. Its clients include the world's most demanding mission-critical organizations, including Fortune 500 firms and US government agencies. For more information, visit www.totalsitesolutions.com or call 888-321-4TSS (4877).

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