Jacobs Engineering Set to Acquire Edwards and Kelcey

Jacobs Signs Letter of Intent to Acquire Edwards and Kelcey
Thursday March 22, 8:00 am ET

PASADENA, Calif., March 22 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. (NYSE: JEC - News) announced today that they signed a letter of intent to acquire Edwards and Kelcey, a 1,000-person firm headquartered in Morristown, N.J.

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Founded in 1946, Edwards and Kelcey is a nationally recognized engineering, design, planning, and construction management firm serving public and private clients in the fields of transportation, planning/environmental, communications technology, buildings/facilities, and land development. The company has 25 regional offices and is ranked 71st among the Top 500 U.S. Design Firms by Engineering News-Record (ENR).

In making the announcement, Edwards and Kelcey CEO Kevin McMahon stated, "We are excited about the prospect of joining Jacobs and believe that this offers many benefits to our staff and clients. Our combined engineering and construction services practice will be more comprehensive with a broader geographic presence and access to more services, specialists, and experts for current Edwards and Kelcey and Jacobs clients. There is little duplication of markets, clients, or geographies. Our combined leadership teams are complementary and are excited about the opportunity to join forces to provide more comprehensive services to our existing clients."

Jacobs Group Vice President Allyn Taylor added, "The addition of Edwards and Kelcey is very strategic for us. Their firm significantly increases the size of our transportation practice; enhances our service offering in transportation, particularly in specialized areas such as toll roads, bridges, airports, traffic, and major transit systems; and adds critical mass to our U.S. operations in other infrastructure areas such as urban development and telecommunications."

Jacobs, with over 45,000 employees and revenues approaching $8.0 billion, provides technical, professional, and construction services globally.

Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2006 Form 10-K, and in particular the discussions contained under Items 1 - Business, Item 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.

For additional information contact:
John W. Prosser
626.578.6803

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