Johnstown, PA, February 19, 2004—Concurrent Technologies Corporation (CTC) has acquired a Construction Management professional services unit from the Pennsylvania Real Estate Investment Trust (PREIT). The acquisition will keep six professional employees and their families in Johnstown as well as expand CTC's involvement in local projects.

"This acquisition is very complementary to our core business areas," said Daniel R. DeVos, CTC President and CEO. "It brings a new capability to augment our extensive program management capabilities. It also retains six well-paying jobs that would have otherwise left the area. This acquisition is a win for both CTC and the Johnstown community." PREIT had planned to transfer the positions to Philadelphia.

The Construction Management unit, formerly part of Crown American Corporation, will join CTC's wholly owned for-profit subsidiary, CTC Enterprise Ventures Corporation (EVC), and will be located in the Johnstown Industrial Park, Richland Township. The unit will continue to support a diverse group of local clients including Windber Research Center, Mt. Aloysius College, and the American Red Cross. It also recently won a contract from the City of Johnstown to provide construction management services for the renovation of the Point Stadium and is expected to grow as opportunities from CTC's existing client base are developed.

CTC is an independent, nonprofit, applied research and development professional services organization, based in Johnstown, Pennsylvania, that provides management and technology-based solutions to a wide array of clients representing state and federal government as well as the private sector. Established in 1988, CTC operates from 35 locations throughout the United States with a staff of over 1,200 employees.

For additional information, please contact Daniel R. DeVos, President and CEO, at 814-269-2420.