IT Solutions Provider Named One of the Largest Majority Employee-Owned Companies in the Nation by the National Center for Employee Ownership (NCEO)

June 11, 2009 — Chantilly, VA — AMERICAN SYSTEMS, an IT solutions provider, today announced that it was ranked among the 100 largest majority employee-owned companies in the United States by the National Center for Employee Ownership (NCEO), a private, non-profit membership and research organization. A majority-owned Employee Stock Ownership Plan (ESOP) company, AMERICAN SYSTEMS ranks among the largest of the nearly 11,000 ESOP companies in the U.S.

“AMERICAN SYSTEMS became an employee-owned company nearly two decades ago with the understanding that the program would contribute directly to our bottom line and also enable our employees to own a stake in the fruits of their labor,” said William C. Hoover, president and CEO of AMERICAN SYSTEMS. “With a vested interest in the company’s success, our employee-owners are motivated, dedicated and empowered to deliver superior service and unmatched performance when it comes to helping our customers solve their most difficult challenges.”  

AMERICAN SYSTEMS’ ESOP is a retirement plan that establishes a trust fund to invest primarily in the company’s stock on employees’ behalf. The ESOP translates to a supplemental compensation fund into which annual contributions are made so that employees may share in the value their work generates. In this way, AMERICAN SYSTEMS employees take an active role in boosting their retirement savings by helping the company achieve its business and revenue goals.

The NCEO Employee Ownership 100 list recognizes the nation’s largest majority employee-owned companies based on number of U.S. and non-U.S. employees, including full, part-time and seasonal employees. To qualify as majority employee-owned, at least 50 percent of a company’s stock must be owned by either an ESOP, a stock purchase plan in which most full-time employees can participate, a profit sharing plan or other trust, or some combination of these. The full list may be found at http://www.nceo.org/library/eo100.html.