FALLS CHURCH, Va. (July 14, 2008) — DynCorpInternational LLC and its wholly-owned subsidiary DIV CapitalCorporation announced today that they intend to sell in a privateplacement under Rule 144A to eligible purchasers additional 9 1/2%senior subordinated notes due 2013. The additional notes willbe issued under the same indenture as and will be part of the sameseries with the issuers’ currently outstanding senior subordinatednotes.
DynCorp International LLC intends to use the net proceeds from theprivate placement to repay in part borrowings under its existingsenior secured credit facility. Concurrently with the closingof the offering, DynCorp International LLC intends to enter into anew senior secured credit facility under which it intends torefinance the remainder of the balance under its existing seniorsecured credit facility.
The securities to be offered have not been registered under theSecurities Act of 1933, as amended, (the “Securities Act”) or anystate securities laws; and unless so registered, the securities maynot be offered or sold in the United States except pursuant to anexemption from, or in a transaction not subject to, theregistration requirements of the Securities Act and applicablestate securities laws. The senior unsecured notes are expected tobe eligible for trading by qualified institutional buyers underRule 144A and non-US persons under Regulation S. This announcementshall not constitute an offer to sell or a solicitation of an offerto buy any of these securities.
About DynCorp International
DynCorp International (NYSE:DCP) is a provider of specializedmission-critical services to civilian and military governmentagencies worldwide, and operates major programs in law enforcementtraining and support, security services, base operations, aviationservices, contingency operations, and logistics support. DynCorpInternational is headquartered in Falls Church, Va. For moreinformation, visit www.dyn-intl.com.
This press release contains various forward lookingstatements. All statements other than statements ofhistorical fact are forward looking statements. Withoutlimiting the foregoing, the words “believes,” “thinks,””anticipates,” “plans,” “expects” and similar expressions areintended to identify forward looking statements. Forwardlooking statements involve risks and uncertainties. TheCompany cautions that these statements are further qualified byimportant economic, competitive, governmental and technologicalfactors that could cause the Company’s business, strategy or actualresults or events to differ materially, or otherwise, from those inthe forward looking statements. These factors, risks anduncertainties include, among others, the following, the Company’ssubstantial level of indebtedness; government policies and theoutcome of political elections; termination of key U.S. governmentcontracts; changes in the demand for services that the Companyprovides; pursuit of new commercial business and foreign governmentopportunities; activities of competitors; bid protests; changes insignificant operating expenses; changes in availability of capital;general political, economic and business conditions in theU.S.; acts of war or terrorist activities; variations inperformance of financial markets; estimates of future contractvalues, as reported in our backlog ; anticipated revenue fromindefinite delivery, indefinite quantity, or IDIQ, contracts;expected percentages of future revenue represented by fixed-priceand time-and-materials contracts; and other risks detailed fromtime to time in the Company’s reports filed with the Securities andExchange Commission. Accordingly, such forward lookingstatements do not purport to be predictions of future events orcircumstances; therefore, there can be no assurance that anyforward looking statement contained herein will prove to beaccurate. We assume no obligation to update the forwardlooking statements.