MITRE Named to Fortune Magazine's "100 Best Companies to Work For" List for the Second Year in a Row

FOR IMMEDIATE RELEASE:

Bedford, Massachusetts, January 17, 2003 — For the second year in a row, The MITRE Corporation, a not-for-profit organization charted to work in the public interest, was named to Fortune magazine's "100 Best Companies To Work For in America" list. MITRE, which employs approximately 4,700 staff, was cited for benefits such as its $14,000 per year tuition reimbursement policy and free employee investment counseling services.

More than 1,000 U.S. companies were considered for Fortune's "100 Best" list; 269 were chosen for more in-depth evaluation. At each of those companies, 250 randomly selected employees were asked to complete surveys about their workplace. Each company also answered a questionnaire describing its culture and human resource policies. Two-thirds of a company's ranking is based on the opinions of its employees, while one-third is based on corporate benefits and practices.

"We are proud of this achievement, especially because our employees' opinions were a strong factor in Fortune's final decision," said Martin C. Faga, President and Chief Executive Officer of The MITRE Corporation. "This honor is a testament to our strong focus on the well-being of our employees, who are committed to excellence on a daily basis. We all share in the long-term benefits of working for a company dedicated to public service."

MITRE is a not-for-profit national resource that provides systems engineering, research and development, and information technology support to the government. It operates federally funded research and development centers for the Department of Defense, the Federal Aviation Administration and the Internal Revenue Service, with principal locations in Bedford, Mass., and McLean, Va.

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