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Technology Stocks : Zmax (ZMAX)/New Year 2000 play -- Ignore unavailable to you. Want to Upgrade?

To: Rollcast... who wrote (342)	6/28/1999 8:54:00 AM
From: Investor Communications Co	Respond to of 370

ZMAX Wins Four State Government Contracts Worth a Potential of $1.7 Million Contracts with the States of New Jersey, Pennsylvania, Maryland and Kentucky GERMANTOWN, Md.--(BUSINESS WIRE)--June 28, 1999--ZMAX Corporation (NASDAQ:ZMAX - news) today announced that it has been awarded contracts to provide its Year 2000 Independent Verification and Validation (IV&V) consulting and remediation services to four U.S. states. The total combined value, if the follow-on contract options are exercised, is $1.7 million. The states include New Jersey, Pennsylvania, Maryland and Kentucky. According to Michael C. Higgins, president and chief executive officer of ZMAX, ''These awards, along with the $2.9 million contract with New York announced earlier this month and our ongoing activities in California, demonstrate our continued penetration of the state government market. ''State governments offer a tremendous potential for our Year 2000 business,'' adds Higgins, ''Equally important is the fact that these contracts give us an entry point to provide a host of other information technology consulting services to U.S. states. In fact, we have submitted a bid to the State of New Jersey to extend our Y2K work into a broader information technology application--creating a client/server version of one of the systems we remediated. A key part of our growth strategy is to increase non-Y2K sales to our established customer base.'' ZMAX's wholly owned subsidiary, Century Services Inc., has won contracts with the States of New Jersey, Kentucky and Maryland, to provide IV&V consulting services focused on Year 2000 compliance. The Company offers customers both an IV&V software product and IV&V consulting services, which can either be packaged with its software product or used on a stand-alone basis. The Company has developed a Compliance Factory in its Germantown, Maryland, headquarters, where it can process customers' source code using the IV&V software toolset. ZMAX also will be performing IV&V testing at this Compliance Factory under a new pilot project with the State of Pennsylvania's Liquor Board. Headquartered in Germantown, ZMAX Corporation is an information technology consulting firm. The Company's IT services include enterprise resource planning implementation, client server development, e-business, and Year 2000 software and services. Statements made in this press release that are not historical or current facts are ''forward looking statements'' made pursuant to the safe harbor provisions of federal securities laws. Forward looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected. Such factors include adverse economic conditions, entry of new and strong competitors, inadequate capital, unexpected costs, and failure to capitalize upon access of new clientele. Specific risks and uncertainties which may affect forward looking statements about the business and prospects include the possibility that a competitor will develop a more comprehensive or less expensive service or solution to ZMAX's services or projects and delays in the market awareness of ZMAX and its project and service solutions. These factors and others are discussed in the ''Management Discussion and Analysis'' section of ZMAX's Annual Report on Form 10-K for the fiscal year ended December 31, 1997, to which reference should be made. ZMAX CORPORATION is quoted on the NASDAQ Small Cap exchange under the symbol of ''ZMAX'' and on the Frankfurt and Berlin Stock Exchanges under the symbol of ''ZMX'' -------------------------------------------------------------------------------- Contact: ZMAX Corp. Investor Communications Co. 800/416-0811 or 800/547-0443 iccinfo.com or The Poretz Group Karen Vahouny, 703/506-1778 x224