Contact: Eileen Cassidy Rivera
Vangent, Inc.
eileen.rivera@vangent.com

Alex Wallace
O’Keeffe & Company, Inc
awallace@okco.com

Vangent Announces $94 Million Department of Labor Contract

EFAST2 Program Streamlines Corporate Pension Filing Requirements, Enhances Visibility for Safeguarding Pensions for 150 Million Employees

Arlington, VA, March 31, 2008 - Vangent, Inc., a leading global provider of information management and business process outsourcing solutions, today announced that the Department of Labor (DOL) has awarded the company a nearly $94 million contract to develop, implement, and manage the Employee Retirement Income Security Act (ERISA) Filing Acceptance System 2 (EFAST2) program.

The DOL awarded Vangent a $15 million development contract as the first component of the 12-year, $94 million initiative. EFAST2 will enable electronic filing of employee pension and benefit plans while also enhancing multi-agency visibility and access to Form 5500 series filings.

EFAST is the filing system for ERISA, which was enacted in 1974 to increase protection for workers’ pension plans and guarantee that pension rights are not unfairly denied or taken from eligible employees. ERISA serves to protect the pension and benefit plans that cover 150 million eligible employees and their dependents, and include assets of approximately $6 trillion.

The Vangent EFAST2 contract features the development of a secure Web portal to streamline electronic filing and processing of approximately 1.1 million employee benefit plan reports. The Web portal will also enable the DOL – and its partner agencies, the

Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) – to review the electronic Form 5500 series filings and ensure employer compliance with pension and benefit plan mandates. Vangent will also continue to staff and manage an EFAST contact center to support the organizations that file Form 5500 series documents annually.

“The Department of Labor Employee Benefits Security Administration is central to maintaining a fair work environment and safeguarding employees’ retirement funds,” said Mac Curtis, president and CEO of Vangent, Inc. “We are proud to continue our longstanding relationship with the Department of Labor and look forward to working together to provide EFAST2 electronic filing and enhance multi-agency review of these important documents.”

The EFAST2 contract extends Vangent’s 10-year relationship with the DOL. The DOL first awarded Vangent the EFAST contract in 1998 to develop, implement, and manage a sophisticated imaging, data capture, and data management solution that fulfills more than 400 program deliverables, applies more than 200 data edits, and more than 1,000 data verification and validation checks for each submission. Vangent also operates the EFAST Help Line to support employers’ questions that include initial filing queries through filing revisions required. The contact center includes a cost-effective Interactive Voice Response (IVR) and Frequently Asked Questions (FAQ) features as well as live customer service support.

Vangent EFAST2 program partners include IBM Global Business Services, Buccaneer Computer Systems and Services, Inc., HeiTech Services, Inc., NATEK Inc., and Riojas Enterprises, Inc.

About Vangent, Inc.
Vangent, Inc. is a global provider of consulting, systems integration, human capital management, and business process outsourcing services to the U.S. Federal and international governments, higher education institutions, and corporations. Vangent’s 6,100 employees support clients including the Centers for Medicare & Medicaid Services, the U.S. Departments of Defense, Education, Health and Human Services, Justice and Labor; and the U.S. Office of Personnel Management, as well as Fortune 500 companies. Headquartered in Arlington, Virginia, the company has offices throughout the U.S. and in the U.K., Canada, Mexico, Venezuela, and Argentina.

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