Award Follows Earlier Five–Year ICE

Financial Management Contract Valued up to $47.7 Million

MCLEAN, Va.–(EMWNews)–BearingPoint, Inc. (NYSE:BE),

one of the world’s largest management and

technology consulting firms, today announced it is one of five firms

awarded a five-year Blanket Purchase Agreement (BPA) by the U.S.

Coast Guard (USCG) for financial management support services. The

BPA is valued up to $104 million and follows a similar financial

services support award to BearingPoint by the Department

of Homeland Security’s Immigration

and Customs Enforcement (ICE) agency that is valued up to $47.7

million including all options.

Under the USCG BPA, BearingPoint will compete for task orders to work

with the USCG’s Office of Financial Policy and

Systems and Office of Financial Transformation and Compliance on a wide

range of services. Specifically, BearingPoint task orders under the BPA

will allow it to assist the Coast Guard with:

• Improving internal controls and accountability over financial business

  processes;

• Strengthening the Coast Guard’s financial

  reporting policies and procedures; and

• Transforming human resource strategy to improve the Coast Guard’s

  financial management workforce.

Contracted work is expected to be performed at USCG offices in

Washington, D.C., Maryland, Virginia, North Carolina, Kansas and

California.

This is BearingPoint’s second recent financial

services support award within DHS. In late March, BearingPoint was

awarded a one-year contract valued at $8.7 million in its base year, and

up to $47.7 million total over five years (including all options) to

assist ICE with its financial management systems. As part of this

contract, BearingPoint is providing a number of technology and strategy

consulting services including general business process improvements,

training and compliance support surrounding financial data

verification/validation, accounts payable accruals, financial audit,

development and maintenance of an activity-based costing model, and

support for ICE’s Finance Center located in

Dallas, Texas.

“We’re proud to be

chosen by the Coast Guard and by ICE to assist in transforming their

financial processes,” said Tim Chase, vice

president for BearingPoint’s National

Security practice. “Helping these DHS

agencies meet financial compliance requirements in a more efficient way

means more resources can be devoted to identifying criminal activities

and eliminating vulnerabilities along our nation’s

borders and coastlines.”

About BearingPoint, Inc.

BearingPoint, Inc. (NYSE:BE) is one of the world’s largest providers of

management and technology consulting services to Global 2000 companies

and government organizations in more than 50 countries worldwide. Based

in McLean, Va., the firm has more than 16,000 employees focusing on the

Public Services, Commercial Services and Financial Services industries.

BearingPoint professionals have built a reputation for knowing what it

takes to help clients achieve their goals, and working closely with them

to get the job done. Our service offerings are designed to help our

clients generate revenue, increase cost-effectiveness, manage regulatory

compliance, integrate information and transition to “next-generation”

technology. For more information, visit the Company’s Web site at www.BearingPoint.com.

Some of the statements in this press release constitute “forward-looking

statements” within the meaning of the United

States Private Securities Litigation Reform Act of 1995. These

statements are based on our current expectations, estimates and

projections. Words such as “will,”

“expects,” “believes”

and similar expressions are used to identify these forward-looking

statements. These statements are only predictions and as such are not

guarantees of future performance and involve risks, uncertainties and

assumptions that are difficult to predict. Forward-looking statements

are based upon assumptions as to future events or our future financial

performance that may not prove to be accurate. Actual outcomes and

results may differ materially from what is expressed or forecast in

these forward-looking statements. As a result, these statements speak

only as of the date they were made, and the Company undertakes no

obligation to publicly update or revise any forward-looking statements,

whether as a result of new information, future events or otherwise.

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