Below is a press release from Thursday afternoon.
>Perot Systems and Parsons Corporation Announce Contract Extension
Dallas, TX --- February 11, 1999 - Perot Systems Corporation (NYSE:PER) and Parsons Corporation announce a five-year extension to their existing IT services contract. Under the terms of the contract
extension, Perot Systems will continue to provide systems integration
and consulting services to Parsons Corporation until June 2007. The
contract was originally scheduled to expire in 2002.
In making the announcement, Jim McNulty, CEO of Parsons Corporation
stated, "Perot Systems' performance and assistance in integrating our
information systems with our business strategies has been nothing
short of outstanding. Parsons has decided to extend our relationship
with Perot Systems well into the next decade in order to further solidify what is already a great relationship and to enable us to
continue to operate on the leading edge of technology."
Ross Perot, Chairman and CEO of Perot Systems commented, "Our
relationship with Parsons Corporation has been rewarding and extremely
positive. From the very beginning we have enjoyed a great cultural fit
between our teams. The contract extension underscores our commitment
to establishing long-term relationships with our clients. We are
delighted that Parsons has chosen to extend the relationship for an
additional five years."
John Thomas, Account Executive for Perot Systems at Parsons
Corporation added, "The Perot Systems' associates working with Parsons
are very excited about extending our working relationship. We look
forward to the challenges ahead."
Parsons is one of the world's largest full-service engineering,
procurement and construction organizations. As a leader in many
diversified markets, such as infrastructure, transportation, and
energy and chemicals, Parsons provides services to federal, regional
and local government agencies as well as private industries worldwide.
Additional information about Parsons can be found on their web site at
parsons.com
Perot Systems is a leading information technology services and
business solutions company serving clients in various industries
including financial services, healthcare, energy, and travel and
transportation. Perot Systems has more than 6,000 employees in North
America, Europe, and Asia. Visit Perot Systems on the World Wide Web
at perotsystems.com>
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