Market Overview

Preferred Systems Solutions Announces Appointment of Randy Morgan as CEO

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Morgan brings over 30 years of Federal contracting and leadership
experience

Jim Ballard, current CEO, transitions to Chairman of the Board

Preferred Systems Solutions, Inc. ("PSS"), a portfolio company of CM
Equity Partners ("CMEP"), announced that it recently appointed Randy
Morgan as CEO and member of the PSS Board of Directors. In addition, PSS
has announced that Jim Ballard, current CEO and Board member, will
transition to Chairman of the Board.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190102005395/en/

Preferred Systems Solutions Announces Appointment of Randy Morgan as CEO (Photo: Business Wire)

Preferred Systems Solutions Announces Appointment of Randy Morgan as CEO (Photo: Business Wire)

"Over his career, Randy has consistently demonstrated a progressive,
strategic approach to business coupled with strong leadership abilities
that will serve PSS well going forward," said Peter Schulte, Managing
Partner at CMEP. He continued, "Over the past 18 months, PSS has
experienced great success in building their workforce, winning new and
re-compete contracts, developing a robust pipeline of business
opportunities, and continuing to delight their customers with
exceptional solutions and services. Randy is well respected by
customers, partners and colleagues within the industry and his expansive
experience is directly related to the areas of growth we are pursuing at
PSS."

In his new role, Mr. Morgan will be responsible for continuing to grow
PSS' professional services and leading-edge technology capabilities to
bring mission-enabling innovation to new and existing customers,
assuring our continued reputation for exceptional support, and promoting
the personal and professional development of our workforce.

"I am very pleased to be joining a very talented PSS Team as their new
CEO and look forward to building upon the success PSS achieved through
outstanding support and providing critical mission solutions to our
customers to help protect our Nation," said Randy Morgan.

Prior to joining PSS, Mr. Morgan held senior leadership roles, most
recently when he joined Parsons Corporation in 2011 as part of the
acquisition of SPARTA, Inc. As EVP for Operations ("COO") for Parsons
Federal, a 4000 person global business unit of Parsons Corporation,
providing U.S. customers worldwide with full-service engineering,
mission solutions, management, and technical services in the defense,
security, intelligence, environmental, infrastructure, and energy
markets. Working with the Parsons Federal leadership team, Mr. Morgan
was instrumental in the design and implementation of several multi-year
new business campaigns which resulted in the successful pursuit and
capture of several industry leading contract awards within the U.S.
Department of Defense ("DoD"), the Intelligence Community ("IC") and the
Missile Defense Agency. Prior to that, Mr. Morgan was President of
SPARTA, Inc., where he provided leadership to a team of 1,500 technical
professionals conducting research and development, design, engineering,
and testing of complex systems in support of the DoD, IC and Department
of Homeland Security.

Jim Ballard named Chairman of the Board

Mr. Ballard, who has been CEO since August 2017, and previously
President and COO since 2014, will become Chairman of the Board. "We are
grateful for Jim's guidance over the past five years with PSS and look
forward to his continued participation in the success of the Company,"
added Peter Schulte.

About Preferred Systems Solutions, Inc.

PSS provides program and acquisition management, financial consulting,
engineering & technical services, mobile applications, high performance
computing, cloud migration, and data analytics support services to the
Intelligence Community and the Civilian (FBI, DHS, GSA, NIH, etc.) and
Defense (U.S. Army, U.S. Navy, Defense Logistics Agency, U.S.
Transportation Command, etc.) markets. For more information, visit www.pssfed.com,
or email press@pssfed.com.

About CM Equity Partners

CMEP is a private equity firm focused primarily on the federal services
and aerospace and defense industries. Since its founding in 1992, CMEP
has made more than 50 acquisitions and investments and has been
responsible for managing nearly $500 million of equity investments and
raising nearly $1.1 billion in debt. CMEP's team brings an active and
collaborative management approach to its investments by partnering with
management teams, developing long-term strategic plans and supporting
re-investment of profits to grow and broaden a company's revenue base
and capabilities. Additional information about CMEP is available at www.cmequity.com.
CMEP is associated with Carl Marks & Co., a private family investment
office with merchant banking activities dating to 1925. Additional
information about Carl Marks & Co. is available at www.carlmarks.com.

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