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Contact: Eileen Rivera
Vice President Communications
703.284.5674

VANGENT, INC. REPORTS 2006 RESULTS

Arlington, VA , April 27, 2007 - Vangent, Inc., a leading global provider of information management and business process outsourcing services, today announced its 2006 results.

Financial Summary (audited)
Dollars in Millions
 
2006
Revenue
$520.9
EBITDA
$63.8
Adjusted EBITDA (1)
$70.5

(1) “Adjusted EBITDA” is adjusted to (1) exclude legal expenses payable by Pearson in connection with an investigation into a contract awarded to NCS Pearson, Inc by the Transportation Security Administration in 2002 and all potential reserves related to the potential settlement of such claim, (2) eliminate certain costs resulting from our separation from Pearson plc net of certain overhead and infrastructure costs, and (3) reflect the results of Blueprint Technologies, Inc. for a full 12-month period, which we acquired in April 2006. These adjustments are the same categories presented during the marketing of the Senior Subordinated Notes.

“We are pleased with how we finished the year,” stated Mac Curtis, President and Chief Executive Officer of Vangent, Inc. “During 2006, we continued our strategy of focusing on high growth segments within the federal IT and BPO markets. We look forward to continuing our growth as an independent company while focusing on strong cash flow generation.” Curtis added, “Our consolidated results are consistent with the guidance we provided to potential investors during the marketing period of our Senior Subordinated Notes.”

Conference Call

The Management Discussion & Analysis (MD&A) for 2006 is in process, and Vangent expects it to be issued by May 30, 2007. Vangent plans to have a conference call with investors after the MD&A is released.

About Vangent, Inc.

With over 5,500 employees worldwide, Vangent, Inc., formerly Pearson Government Solutions, 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. Pearson Government Solutions was acquired by Veritas Capital on February 14, 2007 and changed its name to Vangent, Inc. Clients include the Centers for Medicare & Medicaid Services, the U.S. Departments of Education, Health and Human Services, Justice and Labor; the Equal Employment Opportunity Commission 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.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements are those that do not relate solely to historical fact. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "projects," "likely," "will," "would," "could" and similar expressions or phrases identify forward-looking statements. All forward-looking statements involve risks and uncertainties. The occurrence of the events described, and the achievement of the expected results, depend on many events, some or all of which are not predictable or within our control. In light of these risks and uncertainties, expected results or other anticipated events or circumstances discussed in this press release might not occur. We undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Vangent, Inc.
4250 North Fairfax Drive, Suite 1200
Arlington, VA 22203
Phone: (703) 284-5600
FAX: (703) 284-5628

 
 


 


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