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MANDATED FILING ON SEC'S EDGAR SYSTEM SET TO BEGIN TODAY

 MCLEAN, Va., April 26 /PRNewswire/ -- Mandatory electronic filing of financial reports and documents with the U.S. Securities and Exchange Commission (SEC) will become "a fully functioning reality" today, according to BDM Federal, Inc., the company that developed the computer- based Electronic Data Gathering, Analysis and Retrieval (EDGAR) System.
 "Beginning today, the SEC will require that 500 companies use only electronic filing to submit financial reports and documents to the commission," said BDM President and Chief Executive Officer Philip A. Odeen. "This is the beginning of the final phase of the program that will ultimately allow all of the nation's publicly held companies to file SEC reports electronically."
 The SEC will add additional groups of electronic filers in July, October and December so that 3,500 companies will be filing electronically by the end of 1993, Odeen explained. Then there will be a six-month Congressionally-mandated review of the EDGAR System, following which the rest of the nation's public companies will become electronic filers.
 By the end of 1996, all 15,000 publicly held companies will be using EDGAR to file with the SEC.
 "BDM began designing the system in 1989 and has continued to refine the software as EDGAR has gone through extensive user testing," said Paul Leslie, BDM program manager. "For example, on April 12 we introduced Release 3.0 of the EDGAR System software which contains significant additions to the functionality of the previous release."
 According to John Lane, the SEC's chief information officer and associate executive director, Release 3.0 "made a very user friendly system more functional and much more efficient."
 "The EDGAR System is easy to use and provides a wide range of functionality and on-line assistance and ensures the acceptability of a filing before it is ever submitted to the SEC," Lane said. "The testing period has clearly demonstrated that EDGAR is not difficult to learn."
 During the testing period for EDGAR, more than 500 companies used the system for actual and test filings. To date, over 13,000 live filings have been accepted and disseminated by the system, and some 5,400 test filings have been submitted, Lane said.
 According to David Copenhafer, SEC director, Office of Systems Support, EDGAR will benefit the filing community, the SEC staff examiners and analysts, and the investing public.
 "Electronic filings can be received and accepted faster than their paper counterparts," he explained. "Moreover, electronic filings can be indexed and stored rapidly, are immediately available for review and retrieval, and eliminate the requirement to send the SEC multiple copies of filings."
 Once a filing is submitted and the EDGAR computer at the SEC has checked it for technical errors, the program uses electronic mail -- operated by Compuserve -- to deliver an acceptance or suspension message to the filer. If the filing is suspended, EDGAR identifies the technical errors that need to be corrected.
 EDGARLink, the system's communications software, also compresses the filing to reduce transmission time and cost. For example, six years ago, an electronic filing of a 40-page document using a 2,400 baud modem took 40 minutes. Today, using EDGARLink's compression and a 9,600 baud modem, that same 40-page filing can be sent in 31 seconds. Also, if the transmission is interrupted, EDGARLink allows a new transmission to pick up where the interrupted filing broke off.
 "In addition, the EDGARLink software on a filer's PC will never be out of date," Leslie said. When filers user the system, EDGAR checks that their EDGARLink software is the latest version and, if it isn't, downloads the latest version to the filer's PC.
 In addition to developing the software and systems to facilitate electronic filing, BDM's contract -- which was awarded in January 1989 -- calls for installing and operating an integrated computer system combining host processors with a large communications network in the SEC's Operation Center located in Alexandria, Va. BDM has also installed local and wide area networks to connect the SEC's analysts and examiners to the EDGAR system, as well as to allow public access to filing information in Washington, Chicago and New York.
 BDM operates a training center at the SEC's Operation Center to prepare more than 1,200 SEC examiners and analysts to review filings that come to the SEC through EDGAR. BDM also offers software integration services and training to help prepare corporate filers to use the EDGAR system.
 An additional element of the paperless filing system -- access to the information by analysts, the press and others -- is being developed by Mead Data Central under a subcontract with BDM. Mead will create and maintain a 20-million page EDGAR database that will support full text search capabilities for the SEC examiners and the public reference rooms.
 "The entire EDGAR project has required a great deal of coordination and integration among a variety of subcontractors, vendors and others," said Leslie. "Fortunately this is where BDM excels -- as an integrator and problem solver."
 BDM Federal, Inc., headquartered in McLean (metropolitan Washington), provides scientific, engineering, technical and expert services to public sector clients in national defense, transportation, communications, energy, logistics, environment, space, information systems, advanced technology, systems integration, public policy and other areas of federal activity. The parent company, BDM International, Inc., has approximately 4,600 employees and operates in more than 60 worldwide locations.
 -0- 4/26/93
 /CONTACT: Todd A. Stottlemyer of BDM Federal, 703-848-5115/


CO: BDM Federal, Inc. ST: Virginia IN: CPR SU: PDT

KD-DC -- DC005 -- 0543 04/26/93 10:13 EDT
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Date:Apr 26, 1993
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