ACS Receives Contract Extension to Service Federal Student Loan Programs

DALLAS--(BUSINESS WIRE)--Affiliated Computer Services, Inc. (NYSE: ACS) has been awarded a 12-month contract extension to support servicing and collections for the federal government’s Student Loan Programs. The extension from the U.S. Department of Education is valued at $200 million and covers the 2010 calendar year.

“With a long-term partnership of more than 15 years, ACS continues to help the Department of Education provide quality service to borrowers”

This is the second consecutive contract extension given to ACS for meeting performance goals, highlighting the company’s quality service in managing the business operations of $175 billion in student loans to more than 12 million borrowers.

“With a long-term partnership of more than 15 years, ACS continues to help the Department of Education provide quality service to borrowers,” said Tim Conway, senior vice president and managing director, ACS Federal Solutions. “We will continue to commit ourselves to the program that is vitally important to help make higher education possible for so many people.”

ACS now enters the seventh year of the Common Services for Borrowers (CSB) contract, which consists of a five-year base period followed by three potential performance-based award years and two option years. Under the CSB contract, ACS provides services including new loan bookings, loan consolidations, collection services, mailroom, customer care and payment processing.

ACS is a leader in student loan administration. In addition to service to the Department of Education, ACS provides business process solutions to commercial clients, serving more than 500 education clients representing nearly 900 campuses as well as many of the largest lenders and secondary markets in the country.

About ACS

ACS, a global FORTUNE 500 company with approximately 76,000 people supporting client operations reaching more than 100 countries, provides business process and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." Learn more about ACS at www.acs-inc.com.

The statements in this news release that do not directly relate to historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company’s control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the Company’s prior filings with the Securities and Exchange Commission, including our most recent filing. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise.