EXHIBIT INDEX
99.1 Company Press Release June 13, 2000, titled "Stewart & Stevenson
Announces FMTV A1 Successfully Completes First Article Testing."
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Exhibit 99.1
NEWS FROM: STEWART & STEVENSON
TACTICAL VEHICLE SYSTEMS
P.O. BOX 330
SEALY, TX 77474
STEWART & STEVENSON ANNOUNCES FMTV A1 SUCCESSFULLY COMPLETES FIRST ARTICLE
TESTING
SEALY, Texas, June 13, 2000 - STEWART & STEVENSON SERVICES, INC.
(NASDAQ:SSSS), a leading manufacturer, distributor, and provider of service for
industrial and energy related equipment and a manufacturer of medium tactical
vehicles for the U.S. Army, announced that its Tactical Vehicle Systems Division
(TVSD) in Sealy, Texas, has been notified that the Government has completed its
First Article Testing on the Model A1 Family of Medium Tactical Vehicles (FMTV).
"The vehicles subjected to the First Article Testing have satisfactorily
passed the testing as contained in the contract and have First Article
Approval," the notification from the U.S. Army Tank-automotive and Armaments
Command stated.
The 100,000 mile test program included five vehicles driven 20,000 miles
each, of which 80% was off road. Test vehicles demonstrated well over two times
the contractual reliability, as measured by mean miles between hardware mission
failure and take 25% less time to maintain than required by the contract, based
on maintenance man-hours per operating mile utilized.
With this acceptance the Defense Contract Management Agency (DCMA) at Sealy
is authorized to accept vehicles manufactured by TVSD under the current
contract, DAAE07-98-C-M005.
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Stewart & Stevenson believes that its expectations, as
expressed in these statements, are based on reasonable assumptions regarding the
risks and uncertainties inherent in achieving those expectations. These
statements are not, however, guarantees of future performance and actual results
may differ materially. The most important factors that may cause actual results
to differ from our expectations are risk of cancellation, adjustment or
termination of the FMTV procurement program; unilateral changes directed by the
U. S. Army in the scope or timing of the program; and future government
budgeting. Other risk factors are listed in Stewart & Stevenson Services, Inc.
annual report to the Securities and Exchange Commission on Form 10-K for the
year ended January 31, 2000, and Quarterly Report to the Securities and Exchange
Commission on Form 10-Q for the three months ended April 29, 2000.
Contact: Paul Justice
Director of Public Relations
Tactical Vehicle Systems Division
Phone: 713-867-1774
Fax: 713-867-1518
Email: [email protected]
HTTP://www.ssss.com
