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For Immediate ReleaseNovember 13, 2001 PEC Solutions Hosts Groundbreaking Ceremony for New Office BuildingFacility will Consolidate PEC's Three-building Technology Campus Fairfax, Va.— At a groundbreaking ceremony on October 26, 2001, PEC Solutions kicked off construction for a new building that will complete the company's three-building Technology Campus in Fairfax, Virginia. Fueled by PEC's 16 years of growth in the Washington area, the building represents the final phase of a planned consolidation of PEC's Fairfax operations into a three-building technology campus in the Fair Lakes section of Fairfax County, Virginia. With its convenient location, the new facility will provide easy access to commuter arteries, airports, and clients in the Washington, DC metropolitan area. Approximately 150,000 square feet in size, the building will have a capacity of 1,000 employees. The facility will feature six floors, two conference rooms, an auditorium, and will also include a four-level parking structure. Located adjacent to PEC's current corporate headquarters, the building is expected to be occupied by December 1, 2002. "We are pleased to have broken ground on this new facility," said Dr. David Karlgaard, President and CEO of PEC Solutions. "This expansion is the result of our company's 16 years of success in the Washington, DC, and national high-tech market. This construction is the final phase of a planned consolidation of our Fairfax operations into a three-building technology campus that offers our staff a top-rate facility in a premier location. It will also enhance our recruiting and retention efforts, help us better serve our clients, and will support future growth." Congressman Tom Davis, who spoke at the groundbreaking ceremony, noted that PEC Solutions "is the premier Web-enabler for government [and] a Fairfax success story…We're just really proud to have them here." Others participating in the groundbreaking ceremony included:
Jim Wright of CB Richard Ellis, who specializes in build-to-suit transactions, served as the real estate broker in the agreement. Fair Lakes is a development of The Peterson Companies and its predecessor Hazel/Peterson Companies, which will develop, own and manage PEC's new building. About CB Richard Ellis About The Peterson Companies About PEC Solutions For more information, contact John McNeilly, PEC Solutions Manager of Corporate Communications and Investor Relations, at 703-679-4900. Special Note: This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. PEC Solutions assumes no obligation to update the information contained in this press release. PEC Solutions' future results may be affected by its ability to continue to implement its eGovernment solutions, its dependence on the federal government and other federal government contractors as its major customers, its dependence on procuring, pricing and performing short-term government contracts, its dependence on hiring and retaining qualified professionals, potential fluctuations in its quarterly operating results, its dependence on certain key employees and its ability to timely and effectively integrate the businesses it may acquire. |
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