CIO Magazine Names The MITRE Corporation 1999 Winner of Enterprise Value Award

Framingham, Massachusetts, February 2, 1999 — CIO, the magazine for information executives, names The MITRE Corporation a winner of its annual Enterprise Value Awards. This prestigious honor is bestowed upon a select group of companies that clearly demonstrate how leveraging information technology (IT) can achieve business objectives and produce a return on investment for the enterprise. The award also underscores the collaboration between IT and business management.

MITRE, which conducts systems research, development, and engineering, was selected as a winner in this year's competition for its MITRE Information Infrastructure, or MII. MITRE's 4,000 employees use this multi-purpose, interactive system for tasks that range from filling in time sheets to exchanging electronic files. MII users have easy access to project updates and technical papers, as well as information on essential benefits programs and human resource services. The ease of use and wealth of information available on the MII have fostered a dramatically increased level of information sharing within MITRE, allowing staff to tap into expertise across the company and making it possible for the non-profit company to deliver work to its customers faster. MITRE has invested $7.19 million in the MII and realized a return on investment of $54.91 million in reduced costs and improved productivity.

MITRE's Vice President and CIO Andrea Weiss notes that the MII allows MITRE to do more for its customers in the same amount of time and money: "We know what we know, use what we know, and bring it all to bear on all of our customers' jobs."

According to CIO Editor-in-Chief Abbie Lundberg, "Businesses often put a lot of pressure on their IT departments to show ROI and validate their existence. These five winning companies not only demonstrate a solid return on technology investments, but also prove that the right technology can add value to so many aspects of the business-customer service, response time, and even entrance to new markets."

Enterprise Value Award winners are subjected to a rigorous judging process. Following a call for entries in February 1998, applications were accepted through July. Nominations were examined by CIO editors and a process team of seven independent consultants and academics, led by Richard Swanborg, president of ICEX, Inc. The process team conducted on-site meetings with the nominees, other business executives, and employees involved in developing, implementing and using the systems. Site visits allowed the process team to obtain detailed information on the system's costs and returns, observe systems in action, and carefully determine the business impact of each nominee's system.

The process team delivered detailed reports of the site visits to a distinguished panel of judges at a day-long meeting in Boston. The judges evaluated the nominations and discussed the reports with each other and with the process team. With no minimum or maximum limit on the number of possible winners, the judges determined that five of the companies merited an award.

MITRE (www.mitre.org) is an independent, not-for-profit company that works in the public interest by providing expert technical support to the government. MITRE operates three federally funded research and development centers which provide systems engineering and integration for the Defense Department, systems research and development for the Federal Aviation Administration, and systems engineering for the Internal Revenue Service. Information about MITRE and its work is available on the Web at www.mitre.org.

CIO Communications, Inc. was formed in 1987 to help chief information officers (CIOs), IT executives, and other senior executives succeed in their enterprises through the use of information technology. In addition to publishing CIO magazine, the company produces the www.cio.com Web site and develops and produces CIO Executive Programs, a series of conferences that provide educational and networking opportunities for corporate and government executives. CIO Magazine is a publication of International Data Group. The Enterprise Value Award Program is sponsored by AT&T Solutions.

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