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

FOR IMMEDIATE RELEASE:

Bedford, Massachusetts, December 29, 2003 — The MITRE Corporation, a not-for-profit company chartered to work in the public interest, was named to Fortune magazine's 2004 list of "100 Best Companies To Work For in America." MITRE has appeared on the list for three years and was ranked 38th this year. MITRE, which employs approximately 5,000 staff, was cited for benefits such as its flexible work arrangements, strong educational benefits, and excellent vacation and sick benefits.

More than 1,000 U.S. companies were considered for Fortune's 2004 "100 Best" list; 304 were chosen for more in-depth evaluation. At each of those companies, 250 randomly selected employees were asked to complete surveys about their workplace. Two-thirds of a company's ranking is based on the opinions of its employees. The remaining one-third is based on an assessment of the company's policies, practices, and philosophies.

"We are proud of this achievement. We realize that being recognized as a company that is concerned about its employees and their work environment is cause for celebration," said Martin C. Faga, President and Chief Executive Officer of The MITRE Corporation. "We all share in the benefits of a strong, vital workplace where highly creative people find solutions to some of the nation's most pressing problems."

MITRE is a not-for-profit company 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., and smaller sites worldwide.

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