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

To: robert evans who wrote (320)	2/25/1999
From: Rollcast...	Read Replies (1) \| Respond to of 370

Originally I heard mid february - than a possible pre announcement... now they're saying 3/15. Who knows why? Today's announcement was excellent. Eclipse looks as if it will bring in close to 12 million in revs for 99 - maybe more. Looks as if those fundamentals are building... hope it really reflects in EPS in a MAJOR WAY.

To: robert evans who wrote (320)	3/25/1999 10:29:00 AM
From: Investor Communications Co	Respond to of 370

ZMAX CORPORATION SIGNS NEW IV&V SOFTWARE CONTRACTS WITH A POTENTIAL VALUE OF OVER $1 MILLION Company's Sale of the Product to One Air Force Base Offers Expansion Options to All U.S. Air Force Bases Germantown, MD -- ZMAX CORPORATION (Nasdaq Small Cap: ZMAX) today announced that it has been awarded two contracts with U.S. government agencies that have a potential value, including options, in excess of $1 million. Under these two contracts, the Company will license its new Year 2000 Independent Verification and Validation (IV&V) software product, which was launched in December 1998 with an initial sale to a large, international cosmetic company. Under the first contract, ZMAX's wholly owned subsidiary, Century Services, Incorporated, will provide an unlimited site license for the use of its IV&V software product to Headquarters Standards Systems Group at Maxwell Air Force Base Gunter Annex in Alabama. The contract was awarded competitively through the use of Logicon's (a Northrop Grumman subsidiary [NYSE: NOC]) Advanced Technology I-CASE contract. According to Michael C. Higgins, ZMAX's president and chief executive officer, "Gunter has established a software factory to handle the independent verification and validation of millions of lines of COBOL code. Not only is this a significant and visible contract for us, but the contract includes options for ZMAX to provide our IV&V product to all U.S. Air Force bases for an additional fee." The second contract involves the license of ZMAX's IV&V product to an additional government agency. The contract vehicle through which the Company's software will be provided is a Defense Information Systems Agency (DISA) contract with Videla International Corporation. The initial use of the IV&V product will be for PL1 code. Higgins says, "Although this contract is being exercised for one agency, it is structured so that it can be easily expanded to other agencies. Both contracts position ZMAX to provide a Department of Defense-wide IV&V license to the entire U.S. government. It is our goal to become the leading IV&V provider of choice to the DOD." Jack Effrain, senior vice president for sales and marketing, adds, "Our IV&V product is already being sold to major commercial companies as well as state governments in the U.S. With the addition of the Department of Defense, we have the references and expertise we need to expand our marketing efforts of our IV&V software to foreign governments." The Company's new IV&V product complements its established portfolio of Year 2000 products and services, offering users a software tool to locate and correct errors in their Y2K conversion process prior to conducting various Y2K test strategies, which will result in reduced compliance costs and shorter time schedules. In addition to offering the IV&V product on a license-only basis, ZMAX can also package this software license with consulting services in which ZMAX staff will install the product and conduct IV&V services in multiple client locations. For customers that need to outsource their IV&V operation, the Company continues to maintain its Compliance Factory in Germantown, MD, where it can process customers' source code through its IV&V toolset. "These new contracts reflect the quality of our IV&V product, the continued potential of Year 2000 products and services, and our growing penetration of the U.S. government market," notes Higgins. "As we continue to expand our customer base, we will be able to offer a broader range of our information technology consulting services, which currently range from Y2K to e-business, and from enterprise resource planning to client/server development." ZMAX Corporation is an information technology (IT) consulting and re-engineering company. 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" ###