ATS Corporation Awarded Pension Benefit Guaranty Corporation My PBA Contract Valued up to $10 Million.MCLEAN, Va. -- ATS Corporation ("ATSC (Advanced Television Systems Committee) An international digital television (DTV) standard adopted by the U.S., Canada, South Korea, Taiwan and Argentina. " or the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ATCT ATCT Airport Traffic Control Tower (FAA) ATCT Air Traffic Control Tower ATCT Air Traffic Control Transponder ATCT Analog Toll Connecting Trunk .OB), today announced that it has been awarded the Pension Benefit Guaranty Corporation Pension Benefit Guaranty Corporation (PBGC) A federal agency that insures the vested benefits of pension plan participants (established in 1974 by the ERISA legislation). Pension Benefit Guaranty Corporation My Pension Benefit Administration ("My PBA PBA Professional Bowlers Association PBA Palm Beach Atlantic University (West Palm Beach, Florida) PBA Partial-Birth Abortion PBA Philippine Basketball Association PBA Public Broadcasting Atlanta (Georgia, USA) ") Contract. The contract award has a five year period of performance including the base year and four option years with an estimated total contract value of $10 Million. The Pension Benefit Guaranty Corporation ("PBGC PBGC See: Pension Benefit Guaranty Corporation ") was created by the Employee Retirement Income Security Act The Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C.A. § 1001 et seq. (1974), is a federal law that sets minimum standards for most voluntarily established Pension and health plans in private industry to provide protection for individuals enrolled in these plans. of 1974 to encourage the continuation and maintenance of private-sector defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at a minimum. Under this contract, ATSC will provide development and maintenance support to My PBA. My PBA is the PBGC web-based self-service center that allows participants to conduct business transactions online, 24/7. My PBA is part of a Service Oriented Architecture ("SOA (1) (Start Of Authority) The first record in a DNS zone file. See DNS records. (2) (Service Oriented Architecture) The modularization of business functions for greater flexibility and reusability. ") using Web Services and SOA Protocol ("SOAP") for integration with other systems. "ATSC has six years of experience providing IT support services to the PBGC," said ATSC Senior Vice President Shannon Brown. "While this contract represents a new opportunity for ATSC, it is similar to other mission critical systems we have built and maintained for PBGC during our longstanding relationship with this customer." About ATS Corporation ATS Corporation operates through its subsidiaries, ATS, Reliable Integration Services, Potomac Management Group ("PMG"), and Appix, Inc. ("Appix"). ATS Corp is a leading provider of systems integration and application development, IT infrastructure management and strategic consulting services to U.S. federal and state and local government agencies, financial institutions and government sponsored enterprises. Since its founding in 1978, ATS has been recognized for its custom software development and software integration capabilities and its deep domain expertise in federal government financial, human resource and data management systems. ATS has built and implemented over 100 mission-critical systems for clients. Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM. schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on March 26, 2007. In addition, the forward-looking statements included in this press release represent our views as of September 20, 2007. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to September 20, 2007. Additional information about ATSC may be found at www.atsva.com. |
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