GlobalOptions Group Receives Emergency 90-Day Contract to Help Oregon with Storm Recovery
GlobalOptions Group Receives Emergency 90-Day Contract to Help Oregon with Storm Recovery
NEW YORK--(BUSINESS WIRE)--Jan. 8, 2008--GlobalOptions Group, Inc. (NASDAQ: GLOI), a leading provider of domestic and international risk management services, today announced that its Crisis Management and Preparedness Services unit, James Lee Witt Associates (JLWA), has been chosen by the State of Oregon to provide public assistance and hazard mitigation assistance as a result of the recent severe coastal storms.
On December 8, President Bush approved Oregon Governor Ted Kulongoski's request for a federal disaster declaration, which provides public assistance to declared counties. Following the declaration, the State retained James Lee Witt Associates for the 90-day emergency contract to assist the State in recovering FEMA disaster recovery funds.
"We are pleased to have the opportunity to work with the State in expediting federal disaster assistance," said James Lee Witt, Chief Executive Officer, James Lee Witt Associates. "We can offer experienced personnel who have been involved in public assistance programs in other states following local natural disasters. "
"The State of Oregon is looking forward to working with James Lee Witt Associates as we begin the process of getting public assistance funds to the communities that desperately need rebuilding," said State Coordinating Officers Abby Kershaw. "With JLWA's knowledge of the FEMA public assistance process, we anticipate that communities and non-profits that have been affected by the storm will get the aid they need more quickly and efficiently."
The State of Oregon has identified a need for personnel assistance to help the State deliver public aid and hazard mitigation assistance following the recent coastal storm. The initial estimates of public infrastructure damage are as high as $62 million. The State also noted that it estimates that at least 75% of JLWA's fee will be reimbursed by FEMA.
JLWA also has a contract with the State of Louisiana to aid that State in getting recovery assistance to those affected by Hurricanes Katrina and Rita. With the help of JLWA, Louisiana has been able to assist the State in getting more than $2.96 billion worth of public assistance grants to Louisiana parishes that lost most of their infrastructure.
About GlobalOptions Group, Inc.
GlobalOptions Group, with headquarters in New York City and offices in 16 cities, is a provider of high-end risk assessment and mitigation services to Fortune 1000 corporations, governmental organizations and high-profile individuals throughout the world. GlobalOptions Group's services currently include risk management and security, investigations and litigation support, and crisis management. These engagements take GlobalOptions Group staff around the world and are typically highly-sensitive engagements where GlobalOptions Group is interacting with senior leaders in corporations and governments. Its overall mission is to identify, evaluate, assess, prevent and correct issues that may threaten people, organizations or strategic initiatives for corporations or governments. www.globaloptions.com.
Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including the successful integration of the acquired businesses, projected financial information, and the continued successful implementation of the company's business strategy.
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