October 30, 2008
James Lee Witt Associates Awarded Contract to Assist State of Indiana With Storm Recovery
GlobalOptions Group, Inc. (NASDAQ: GLOI), a leading provider of domestic and international risk management services, today announced that its Crisis Management and Preparedness Services Division, James Lee Witt Associates (JLWA), was awarded a one-year recovery services contract with the Indiana Department of Homeland Security (IDHS) to provide recovery support to the State following the Midwest flooding disaster.
Witt Associates will assist the State of Indiana in implementing its responsibilities for the Federal Emergency Management Agency (FEMA) Public Assistance (PA) Program. Their work will include managing the work of the State as grantee of the Public Assistance Program. The PA grants provide federal assistance to state and local governments and non-profit organizations for debris removal, emergency services related to the disaster and repairing or replacing damaged public facilities such as roads, buildings and utilities.
The one-year contract also includes using Witt Associates' expertise and past experience to implement the Hazard Mitigation Grant Program (HMGP), which will provide the State with resources to reduce future risks of disaster and losses. They will also provide policy-level support and guidance to the Director of Emergency Response and Recovery.
"Our dedicated team of experts is on the ground in Indiana in the aftermath of the Midwest flooding, working with IDHS to make recovery as smooth and as fast as possible," said James Lee Witt, Chief Executive Officer, James Lee Witt Associates. "While the magnitude of this event in Indiana is significant, we will help the state speed their recovery by leveraging our knowledge of FEMA and disaster recovery, along with our experience in working with public assistance and hazard mitigation programs in other states that have been similarly affected by natural disasters."
Since 2005, Witt Associates has performed similar services for other state and local governments, including recovery efforts in the neighboring State of Iowa as it rebuilds from this year's flooding and tornadoes and assisting the State of Louisiana in their recovery from Hurricanes Katrina and Rita, and most recently, Hurricane Gustav. The firm has helped Louisiana obtain more than $3 billion worth of PA grants for Louisiana parishes and local government, many of which lost most of their entire infrastructure in Hurricanes Katrina and Rita.
"The Midwest has been hit hard by this disaster, and while recovery will not happen overnight, we will be able to do everything we can to hasten the pace of the State's recovery," said Dr. Harvey Schiller, Chairman and CEO of GlobalOptions Group. "We will be able to implement grants management protocols in order to maximize federal funding which will ensure fiscal responsibility and accountability."
GlobalOptions Group, with headquarters in New York City and offices in 16 cities, is a provider of high-end risk assessment and mitigation services to Fortune 1000 corporations, governmental organizations and high-profile individuals throughout the world. GlobalOptions Group's services currently include risk management and security, investigations and litigation support, and crisis management. These engagements take GlobalOptions Group staff around the world and are typically highly-sensitive engagements where GlobalOptions Group is interacting with senior leaders in corporations and governments. Its overall mission is to identify, evaluate, assess, prevent and correct issues that may threaten people, organizations or strategic initiatives for corporations or governments. Additional information can be found at www.globaloptionsgroup.com.
Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including the successful integration of acquired businesses and revenue run rates.
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