BearingPoint Joins Keane SEC Team to Modernize EDGAR System

MCLEAN, Va., Sept. 25 /PRNewswire-FirstCall/ -- BearingPoint, Inc. (NYSE: BE) , one of the world's largest management and technology consulting firms, today announced that it has been selected as part of a team led by Keane, Inc. (NYSE: KEA) to operate, maintain and modernize the U.S. Securities and Exchange Commission's Electronic Data Gathering, Analysis, and Retrieval system, commonly referred to as EDGAR. BearingPoint's six-year contract with Keane, which is made up of an initial three-year term with options for an additional three years, will enable the SEC to transform EDGAR to a dynamic real-time search tool with interactive capabilities. As part of the Keane lead team, BearingPoint will be instrumental in the modernization efforts. The value of the overarching team contract with the SEC is $48 million.

Central to BearingPoint's efforts for the SEC will be installation and integration of a Service Oriented Architecture for the EDGAR system, as well as driving further adoption and deployment of Extensible Business Reporting Language (XBRL) standards, interactive data that can provide investors with quicker access to the information they want, in a format they can most easily use. BearingPoint's success in rolling out XBRL-enabled systems for other clients bolstered Keane's decision to select BearingPoint for the EDGAR modernization effort.

EDGAR performs automated collection, validation, indexing, acceptance, and dissemination of submissions by companies and others who are required by law to file forms with the SEC. Its primary purpose is to increase the efficiency and fairness of the securities market for the benefit of investors, corporations, and the economy by accelerating the receipt, acceptance, dissemination, and analysis of time-sensitive corporate information filed with the agency. The new system will be completely interactive, using data technologies such as XBRL and Extensible Markup Language (XML), it will allow investors and analysts to search not only filings, but the information within them. This new system will eliminate the need to laboriously undertake manual searches, re-key data, or pay others to translate the data to more useable formats. The contract is expected to immediately benefit firms that directly subscribe to EDGAR filings and reduce the cost of a subscription up to 37 percent.

"We are excited to be a part of this important effort to modernize EDGAR," said Tom DeGarmo, senior vice president for BearingPoint's Public Services Civilian market. "Our SOA and XBRL standards expertise, combined with a keen understanding and experience in the government marketplace, should prove invaluable as we help the SEC meet its mission with this critical program."

"Keane, along with its partners, is committed to being an outstanding business partner to the SEC," said John Leahy, interim president and CEO, and chief financial officer of Keane, Inc. "We are excited to help the SEC revolutionize the way investors access and analyze financial statements and other corporate disclosure filings using interactive data."

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 60 countries worldwide. Based in McLean, Va., the firm has approximately 17,500 employees, and major practice areas focusing on the Public Services, Financial Services and Commercial Services markets. For nearly 100 years, 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. For more information, visit the Company's website at http://www.bearingpoint.com/.

About Keane

In business since 1965, Keane, Inc. (NYSE: KEA) is a leading business process and IT services firm. Keane delivers Application and Business Process Services to help clients transform their business and IT operations to achieve demonstrable, measurable, and sustainable business benefit. As a trusted advisor and partner for its clients, Keane solves real business issues through the development and implementation of cost-effective, change-oriented, industry-specific solutions. Specifically, Keane delivers highly synergistic application and business process services, including Application Development and Integration Services, Architecture Services, Application Outsourcing, Program Management, and Testing, as well as Business Transformation Services including Business Process Outsourcing. Keane believes that business and IT improvements are best realized by streamlining and optimizing business and IT processes, implementing rigorous management disciplines, and fostering a culture of accountability through meaningful performance metrics. Based in Boston, Mass., Keane delivers its services throughout the United States, Australia, Canada, India, and the United Kingdom. For more information, visit http://www.keane.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.