SAIC Awarded $300 Million Contract from Department of Education - Office of Federal Student Aid

Oct. 27, 2008

Company to Provide Software Development Services to Help Modernize Web-based Student Aid Infrastructure

SAN DIEGO and MCLEAN, Va. , Oct. 27 /PRNewswire-FirstCall/ -- Science Applications International Corporation (NYSE: SAI) announced today that it has been awarded a contract by the U.S. Department of Education, Office of Federal Student Aid (FSA) to provide software development services. This multiple award, indefinite-delivery/indefinite-quantity contract has a five-year base period of performance, five one-year options, and a ceiling value of $300 million. Work will be performed primarily in the Washington, D.C. , metropolitan area.

FSA plays a central role in America's postsecondary education community. Some of its most visible and essential services are the development, distribution, and processing of the Free Application for Federal Student Aid, the fundamental qualifying form used for all federal and government-guaranteed commercial lenders' programs -- as well as for many state, regional and private student aid programs. Under the contract, the SAIC team will provide software design and development services to modernize the web-based student aid infrastructure into one enterprise-wide system.

"Postsecondary education is essential to America's future growth and competitiveness in the global marketplace," said Beverly Seay , SAIC senior vice president and business unit general manager. "We are pleased to have the opportunity to offer our information technology and systems expertise to the Department of Education as it seeks to fulfill its mission to provide financial aid to millions of American students."

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 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.

Contact: Melissa Koskovich Laura Luke (703) 676-6762 (703) 676-6533


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