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ESSEX CORPORATION REPORTS AWARD OF MAJOR DOE CONTRACT

 COLUMBIA, Md., March 26 /PRNewswire/ -- Harry Letaw, chairman and CEO of Essex Corporation (NASDAQ-NMS: ESEX), announced today that the company has been awarded a long-awaited $14.2 million contract renewal for logistical and technical support of the Department of Energy (DOE) Transportation Safeguards Division, Kirtland AFB, N.M. The period of performance is three base years and two option years. The company had contested the November 1991 award of the contract to another contractor by protesting to the General Accounting Office (GAO).
 Letaw stated: "In August 1991 we proposed to continue the training support that Essex had provided during four preceding years, but the contract was awarded to a competitor. We lodged our successful protest and rebid in accordance with the direction of our DOE customer. Management, house counsel and outside counsel, Manatt, Phelps, Phillips & Kantor, were highly effective in this process; however, its cost and the denial of contract revenues and profits for nearly 18 months impacted the company's growth program and financial standing. I am pleased that this effort has been rewarded and the excellence of Senior Vice President Martin Every's performance team has been recognized."
 He added: "The contract requires approximately 50 new employees, many professionally expert in interactive training, training exercise planning and videographic technology, key elements of company capabilities. This award reaffirms our core strengths and increases momentum in our focus on Human-Centered Systems Engineering. With our added initiatives in medical and technical imaging and signal processing products, Essex now serves two highly favorable markets. As previously announced, Essex has retained Advent International Financial Services, Inc., a Boston investment and venture capital firm, to assist the company in obtaining financing to develop and commercialize its patented ImSyn opto-electronic processor systems."
 Essex Corporation is a public-traded, technology-based company supplying Training/Counter Human-Error products and services and optical computer apparatus to government and industry.
 -0- 3/26/93
 /NOTE: Human-Centered Systems Engineering is a service mark. ImSyn is a trademark./
 /CONTACT: Harry Letaw Jr., chairman and CEO, Essex Corporation, 410-730-1097/
 (ESEX)


CO: Essex Corporation; Department of Energy ST: Maryland IN: CPR SU: CON

TW-IH -- DC012 -- 0066 03/26/93 12:43 EST
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Publication:PR Newswire
Date:Mar 26, 1993
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