Paradigm Solutions Corporation Goes Public

Business Wire, Nov 5, 2004

GREENWOOD VILLAGE, Colo. -- Paradigm Holdings, Inc. (OTCBB:PDHO) today announced it has completed a merger with Rockville, Maryland based Paradigm Solutions Corporation, a full service information technology and business solutions provider. Paradigm Solutions has twenty customer service sites nationwide and employs over 250 people. Paradigm Solutions provides technical services and products to numerous federal agencies, government contractors and Fortune 500 companies. Paradigm Solutions generated $51.2 million in revenues for the year ended December 31, 2003. For the nine months ended September 30, 2004, Paradigms revenues were $46.7 million compared to $37.2 million for the nine months ended September 30, 2003.

Paradigm Holdings, Inc. issued 17,500,000 shares of restricted common stock in exchange for 100% of the outstanding shares of Paradigm Solutions Corporation. As a result of this tax free exchange of shares, the owners of Paradigm Solutions Corporation hold majority control of Paradigm Holdings, Inc. At time of closing, all current directors and officers of Paradigm Holdings, Inc. resigned upon compliance with Section 14f of the Securities Exchange Act. New executive officers and directors of Paradigm Solutions Corporation were appointed directors and officers of Paradigm Holdings, Inc. The new executive management and directors of Paradigm Holdings, Inc. are Mr. Raymond A. Huger, Chairman & CEO, Mr. Frank J. Jakovac, President & COO, and Mr. Mark A. Serway, SVP & CFO.

"This is a historic day for our employees and shareholders of Paradigm Solutions," stated newly appointed Chairman & CEO Mr. Raymond A. Huger. "Paradigm Solutions Corporation is now in position to accelerate our ability to acquire high quality information technology companies while expanding into new markets that are accretive to our earnings per share."

Paradigm Holdings, Inc. will do business as Paradigm Solutions Corporation with corporate offices located at 2600 Tower Oaks Blvd, Suite 500, Rockville, Maryland.

About Paradigm Solutions Corporation

Paradigm Solutions Corporation headquartered in Rockville, Maryland, is a full service information technology and business solutions provider to government and industry. The company specializes in infrastructure support, managed services, software engineering, business continuity planning, emergency management and disaster recovery. Paradigm currently employs over 250 people across 12 states. More information about Paradigm Solutions Corporation can be found at www.paradigmsolutionscorp.com

Forward-Looking Information:

Statements and assumptions made in this press release, which do not address historical facts, constitute "forward-looking" statements that Paradigm believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control. Words such as "may," "will," "intends," "should," "expects," "plans," "projects," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or "opportunity," or the negative of these terms or words of similar import are intended to identify forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: adverse changes in U.S. government spending priorities; failure to retain existing U.S. government contracts or win new contracts; failure to obtain option awards, task orders, or funding under contracts; risks of contract performance; risks of contract termination, either for default or for the convenience of the U.S. government; adverse results of U.S. government audits of our U.S. government contracts; risks associated with complex U.S. government procurement laws and regulations; failure to experience favorable results from acquisition synergies; and material changes in laws or regulations applicable to the company's businesses. These and other risk factors are more fully discussed in the section entitled "Risks Related to the Company's Business" in Paradigm's Reports filed with the Securities and Exchange Commission, including among its reports on Form 8-K, Form 10-KSB and Form 10-QSB. The forward-looking statements included in this news release are only made as of the date of this news release and Paradigm undertakes no obligation to publicly update any of the forward-looking statements made herein, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.