McLean, VA, March 31, 2005—Booz Allen Hamilton today announced the firm has been selected by Federal Deposit Insurance Corporation (FDIC) to provide Information Technology Application Services (ITAS).

The multiple award contract also includes IBM, Lockheed Martin and Pragmatics—a minority-owned small business.

"This win demonstrates the power of Booz Allen's financial, change management and systems capabilities," said Booz Allen Vice President Pat Peck, "and we are looking forward to working with FDIC on this important project."

The 10-year contract, which has an estimated value of more than $550 million if all options are exercised, is for a broad range of IT services including application development and maintenance, organizational and management support, data management, and software process improvement. These services are expected to improve software development processes to produce and maintain a secure, efficient portfolio of application systems supporting FDIC business requirements.

The contract will be effective April 1.