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Exhibit 99.1
TETRA TECH CHANGES NASDAQ SYMBOL TO TTEK
TO REFLECT EXPANDING BUSINESS
PASADENA, CALIFORNIA. Tetra Tech, Inc. (currently NASDAQ: WATR) announced today
that it is changing its trading symbol to NASDAQ: TTEK, a symbol more indicative
of its expanding business. This change will take effect on Monday, December 18,
2000, at which time the old trading symbol will no longer be used.
As Li-San Hwang, Tetra Tech's CEO, explained, "The roots of Tetra Tech's
business in management consulting and technical services have remained the same
since our initial public offering in 1991. Since then, our business has grown
and diversified as we have applied these root competencies to serve new markets
and customers. Today, our three nearly equal branches of technology-oriented
business are more accurately represented by our new trading symbol, TTEK."
"We remain confident about the markets we have selected and serve. In
communications, increased competition on carriers to outsource services that
lower their cost, and increased global demand for information transport,
continue to drive our rapid growth. These factors can be seen in our outsourcing
contracts with carriers to develop new European wireless networks, upgrade and
develop North American wired networks, or contracts directly with end users to
offer new indoor wireless technologies. The rebuilding of America's aging public
infrastructure continues to drive growth in that market. In resource management,
increased demand for the finite amount of fresh water continues to drive growth
in technical solution providers. Our diversity has resulted in great strength."
"We will continue to focus our internal resources on the fastest growing areas
of our company, a business model we've successfully implemented for many years.
Because of our business growth, and to clarify our strategy moving forward, the
trading symbol change to TTEK marks an exciting step toward our future."
ABOUT TETRA TECH (www.tetratech.com)
Tetra Tech is a leading provider of specialized management consulting and
technical services in three principal business areas: resource management,
infrastructure and communications. The Company's clients include a diverse base
of public and private sector organizations serviced through more than 150
offices located in the United States and internationally.
CONTACT: Li-San Hwang, President and CEO or Mike Bieber, Investor Relations
626/351-4664
CERTAIN STATEMENTS CONTAINED IN THIS NEWS RELEASE ARE FORWARD-LOOKING STATEMENTS
THAT INVOLVE RISKS AND UNCERTAINTIES, SUCH AS THOSE RELATED TO THE COMPANY'S
ACQUISITION STRATEGY AND THE FLUCTUATIONS IN THE COMPANY'S QUARTERLY OPERATING
RESULTS AND STOCK PRICE, AND THE OTHER RISKS DETAILED FROM TIME TO TIME IN THE
COMPANY'S SEC REPORTS.
