CSC Announces Modernization Program Success With IRS Clean Audit

Computer Sciences Corporation (NYSE: CSC) today announced a significant milestone achieved on the Business Systems Modernization (BSM) program for the Internal Revenue Service (IRS). The Government Accountability Office granted the IRS an unqualified or "clean" audit opinion one year after initial implementation and launch of a modernized financial management system -- the Integrated Financial System (IFS). The CSC-led PRIME Alliance was the lead systems integrator on the project, providing leadership, business transformation and systems integration services to support the roll-out of SAP's Federal Financial Management solution. The IFS, a major project under BSM, fully supported IRS administrative financial operations throughout fiscal year 2005. The system, which was deployed on Nov. 10, 2004, is a powerful tool for budgeting, planning, tracking and reporting, providing timely, accurate and relevant financial information. The agency has already realized business value from the IFS during fiscal year 2005 in terms of improved compliance with federal standards and directives, more timely financial data, and enhanced management and administrative reporting. "The IRS's receipt of an unqualified audit opinion is a testimony to the quality of this implementation and a tribute to the experience and hard work of the combined CSC-SAP-IRS team," said Jim Sheaffer, CSC vice president and general manager of the PRIME Alliance. "For the past year our focus has been on achieving this goal, and we are collectively delighted to see it realized in this result." "SAP is honored to work with the IRS and CSC on the ongoing modernization efforts to help the agency gain stronger financial control and visibility across the enterprise," said Steve Peck, president, SAP Public Services Inc. The IFS, which annually accounts for $10 billion in IRS operational funds, replaced the IRS's core financial systems, including expenditure controls, accounts payable, accounts receivable, general ledger and budget formulation. The system includes a managerial cost accounting capability that will enable the IRS to make informed and timely performance-based business and budgetary decisions. In addition, the IFS eliminates redundant data management by providing a single master data repository. The unqualified audit opinion denotes another achievement in a string of successful CSC PRIME Alliance deliveries during the past 18 months through the BSM program. The Customer Account Data Engine (CADE), considered the cornerstone of the BSM program, is completing its first full tax filing year and has processed more than 1.4 million Form 1040EZ tax returns issuing refunds 40 percent faster than with the IRS's 40-year-old master file system. Modernized e-File now allows businesses and tax-exempt organizations to file their returns electronically, and e-services, a Web-based suite of business applications, provides tax practitioners and other third-parties who conduct business with the IRS with information and access on an expedited basis. About CSC PRIME Alliance The CSC PRIME Alliance combines Computer Sciences Corporation's global capabilities with the specialized business, technical and consulting capabilities of some of the world's largest and most respected companies. On Dec. 9, 1998, the CSC PRIME Alliance was selected to enter into a strategic partnership with the Internal Revenue Service to modernize the U.S. tax system. The CSC PRIME Alliance includes IBM, BearingPoint, Northrop Grumman Information Technology, SAIC and UNISYS. About CSC Founded in 1959, Computer Sciences Corporation is a leading global information technology (IT) services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology. With approximately 78,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.5 billion for the 12 months ended Sept. 30, 2005. For more information, visit the company's Web site at http://www.csc.com.

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