<PAGE>
EXHIBIT 99.1
For Immediate Release
Contact: Patrice Bryan
Investor Relations
(757) 306-0299
[email protected]
METRO INFORMATION SERVICES, INC. ANNOUNCES OFFICE CLOSINGS
VIRGINIA BEACH, VIRGINIA - MAY 31, 2000 - METRO INFORMATION SERVICES, INC.
(NASDAQ: MISI), an information technology (IT) consulting services and solutions
company, today announced that it is reducing its office network to 36 markets by
closing eight of its smaller offices and reducing its Corporate staff. Steps are
being taken to minimize the impact on Clients and Consultants in the affected
markets.
The affected offices are Memphis, Milwaukee, Minneapolis, Orlando, Pittsburgh,
Portland, Sacramento and Salt Lake City. These offices represented less than
1.5% of revenues in 1999. There are no further plans to close offices or reduce
staff.
The purpose of these closings is to allow Metro to focus on growing those
offices that have the critical mass, structure and capability to deliver the
broad range of Metro's services and solutions to Clients in their respective
markets and reduce costs. In conjunction with these office closings Metro is
also changing the roles of two of its Vice Presidents. These Vice Presidents
will no longer have responsibility for office support activities. Instead these
individuals will focus on marketing Metro's broad range of capabilities to our
Clients. This change builds on the previously announced creation of Metro's
Business Technology Solutions Team to market solutions and specialty services to
Metro's Clients and other marketing initiatives.
Costs related to these closings will be included in results for the second
quarter of 2000. These costs are estimated at $700,000 to $900,000 on an
after-tax basis or approximately $0.05 to $0.06 per diluted share outstanding.
These costs primarily relate to employee severance pay and benefits and lease
termination costs. The Company is also writing off certain furniture, fixtures
and equipment made excess by these office closings.
The Company has scheduled an analyst's conference call at 10:30 a.m. EDT. The
number for the call is (888) 810-6758, Passcode: 0531.
For more than 20 years, Metro Information Services, Inc. has provided a wide
range of information technology consulting services and solutions in the United
States and Puerto Rico.
<PAGE>
Metro's services include application systems development and maintenance,
information technology architecture and engineering, systems consulting, project
outsourcing and general information technology support services. Metro
consultants work on all major technology platforms including the rapidly growing
e-Business area. The Company emphasizes long-term relationships with its clients
rather than one-time projects or assignments. Metro generated revenues of $315
million in 1999 from a wide variety of industries. More information is available
on the Web at HTTP://WWW.METROIS.COM and through Metro's Investor Relations
Department.
Certain matters discussed in this news release are forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995. All statements
made in this news release, other than those consisting solely of historical
facts, that address events or developments that the Company expects or
anticipates will or may occur in the future, such as the actual costs relating
to the announced closings and references to business strategy, future success,
and other events, are forward-looking statements. These forward-looking
statements are subject to a number of known and unknown risks and uncertainties,
including the impact of these closings on our Clients and Consultants in the
affected markets; competition; and other factors. Other factors and assumptions
not identified above were also involved in the derivation of these
forward-looking statements, and the failure of such other assumptions to be
realized as well as the risks and uncertainties discussed above and other
factors may cause actual results to differ materially from those projected. The
Company assumes no obligation to update these forward-looking statements to
reflect actual results, changes in assumptions or changes in other factors
affecting such forward-looking statements. Please refer to a discussion of these
and other factors in the Company's most recent Form 10-K, Form 10-Q and other
documents filed with the Securities and Exchange Commission.
