Dynamics Research Corporation Announces Acquisition of HJ Ford Associates; Adds an Estimated $28 Million to Annual Revenues.

Business Editors

ANDOVER, Mass.--(BUSINESS WIRE)--May 29, 2002

Dynamics Research Corporation (Nasdaq:DRCO) today announced it has agreed to acquire privately held HJ Ford Associates, Inc., a Washington, D.C.-based provider of engineering and information technology services to government customers, for approximately $10 million in cash, subject to adjustments.

Following the acquisition, HJ Ford will become a wholly owned subsidiary of DRC and will continue to be managed by its current operational management team. Don Alducin, HJ Ford founder, president and chief executive officer, will remain with the organization as a consultant.

"The addition of HJ Ford's technical professional services to DRC's capabilities significantly expands DRC's presence with the Air Force Aeronautical Systems Command at Wright-Patterson Air Force Base, a center of activity for the Defense Department force transformation initiatives now being developed," said James P. Regan, DRC chairman and chief executive officer. "This acquisition is consistent with DRC's strategy to add presence in key markets. Strengthened relationships with mutual clients, including the Navy and Air Force, are expected to lead to new business opportunities with HJ Ford clients in strategic markets. This combination is especially rewarding in light of our highly successful, 10-year relationship with HJ Ford in key markets," he added.

Based on a target closing date of May 31, 2002, DRC said it expects the acquisition to add an estimated $16 million to 2002 revenues with slightly more than $1 million coming in the second quarter of the year. HJ Ford's current annualized revenues net of DRC subcontractor revenues are approximately $28 million, of which approximately half is passed through to other subcontractors. Most of HJ Ford's revenues are received under General Services Administration contracts. From an earnings perspective, DRC anticipates that the acquisition will add $0.02 to earnings in 2002, net of estimated transition and integration costs. Following the completion of integration activities in 2002, DRC anticipates that the acquisition will add an estimated $0.08 to earnings annually based on current sales levels.

About HJ Ford Associates

HJ Ford Associates, Inc. was founded in 1981 to provide industrial engineering consulting services to the aerospace industry. The company received its first government contract in 1988 in support of the unmanned aerial vehicle program, a program it continues to support today. HJ Ford helps clients manage operational processes and acquisition programs by drawing on its core competencies of systems and information engineering, acquisition logistics and logistics engineering, information technology, enterprise engineering, and acquisition program support. For the year ended December 31, 2001, HJ Ford recorded revenues of $38.4 million, including DRC subcontractor revenues, and earnings before interest, taxes, depreciation and amortization of $1.3 million. The company has approximately 150 employees and offices in Washington, D.C., Dayton, OH, Mechanicsburg, PA and Paxtuxent River, MD.

The Windsor Group acted as a financial advisor to HJ Ford on the transaction.

About Dynamics Research Corporation

Dynamics Research Corporation is an innovative solutions provider that partners with its customers in government and commercial sectors to apply proven processes and technologies. DRC delivers engineering, logistics, and information technology services and precision manufactured products that enhance the performance and cost effectiveness of its customers' mission

critical systems. For additional information about DRC please visit the website at www.drc.com.

Safe harbor statements under the Private Securities Litigation Reform Act of 1995: Some statements contained or implied in this news release, may be considered forward-looking statements, which by their nature are uncertain. Consequently, actual results could materially differ. For more detailed information concerning how risks and uncertainties could affect the company's financial results, please refer to DRC's most recent filings with the SEC. The company assumes no obligation to update any forward-looking information.