BearingPoint Names F. Edwin Harbach CEO

Third-Quarter Form 10-Q Filed; Company Sheds Late Filer Status

MCLEAN, Va.–(BUSINESS WIRE)–BearingPoint, Inc. (NYSE:BE), one of the world’s largest management and technology consulting firms, announced today that its Board of Directors has named Ed Harbach president and chief executive officer and a member of the Board of Directors. Harbach, who has more than 28 years of experience in the consulting industry, has been the Company’s president and chief operating officer since Jan. 2007.

Harry L. You, who joined as chief executive officer in March 2005, is leaving the company to pursue other opportunities and will be succeeded by Harbach. You successfully led BearingPoint through an important period of rebuilding and improved financial management.

The Company also today filed its third-quarter Form 10-Q making it current and up-to-date in its periodic filings with the Securities and Exchange Commission.

Roderick McGeary, chairman of the board, stated, “BearingPoint continues to make great progress. Harry helped to build the financial foundation necessary to position us for future success. The Board and Harry agreed that this is the perfect time for a change in leadership. We are thrilled that Ed will lead the Company into the next, critical phase of achieving strategic and operational excellence. Ed has extensive experience in the consulting industry, and has already brought great value to BearingPoint as the leader of its day-to-day operations. With his proven ability to tackle operational challenges, drive business results and increase client satisfaction, Ed will be instrumental in helping us make the final push on our business turnaround and execute our strategy for long-term growth.”

McGeary added, “Ed’s appointment reflects the Board’s determination that the best way for the Company to create value for its shareholders, clients and employees is by intensifying our focus on operations — and leveraging the full scale and scope of our global business, including continuing to own and operate our European practice as an important part of our consolidated business. Ed will pursue this strategy with a focused and disciplined approach to driving profitable growth, building the Company’s cash flow and strengthening the balance sheet.”

Harbach stated, “I am very enthusiastic about taking on the chief executive role. I have worked in the consulting business for my entire career and I am confident that our Company can create long-term value for shareholders. BearingPoint has world-class people and a solid customer base with great potential. I look forward to working with the Board, our management team and our global employee base to operate the Company efficiently and to continue to establish BearingPoint as one of the world’s premier management technology and consulting firms.”

Prior to his role as president and chief operating officer of BearingPoint, Harbach served as a managing partner and member of the leadership team at Accenture and held key client-facing and executive positions throughout the organization. In addition to leading global client relationships with several Fortune 100 companies, Harbach served as chief information officer and managing partner, Client Satisfaction and Quality, and also served as turnaround leader on a number of critical client and organizational assignments in multiple geographic regions.

McGeary added, “We thank Harry for his hard work and important contributions to BearingPoint over the last three years. Harry’s leadership has been important, particularly in building a strong foundation to bring current the Company’s financial reporting, strengthen the balance sheet and resolve a significant number of serious financial, compliance, legal and other issues which existed when he arrived. On behalf of the Board and management team, we wish him well in his future endeavors.”

You stated, “I am delighted that we have been able to get current and I look forward to pursuing other opportunities. It has been a privilege working with the many talented people throughout BearingPoint over the past three years. I am proud of the progress the Company has made. It is a real testament to our franchise and to the tenacity of our people.” You continued, “I have known Ed for several years and am confident in his abilities to lead BearingPoint into the future.”

BearingPoint will host a conference call today to discuss the Company’s 2007 third quarter 10-Q filing at 8 a.m. ET. To participate on this call, please dial: (800) 399-6696 [(706) 679-7614 outside the United States, Puerto Rico and Canada] approximately 15 minutes before the scheduled start of the call. Alternatively, to listen to the live call, please go to the Investor Relations section of BearingPoint’s Web site at www.bearingpoint.com. A replay of the conference call will be available online at www.bearingpoint.com approximately two hours after the end of the call and via telephone by dialing +1 (800) 642-1687 [(706) 645-9291 outside the United States, Puerto Rico and Canada] and entering conference code 24637176 from 11:00 a.m. ET on Dec. 3 through 11:59 p.m. ET on Dec. 17.

About BearingPoint, Inc.

BearingPoint, Inc. (NYSE:BE) is one of the world’s largest providers of management and technology consulting services to Global 2000 companies and government organizations in 60 countries worldwide. Based in McLean, Va., the firm has more than 17,000 employees focusing on the Public Services, Financial Services and Commercial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to “next-generation” technology. For more information, visit the company’s Web site at www.BearingPoint.com.

Some of the statements in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as “will,” “expects,” “believes” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Media Contacts:
BearingPoint
Betsy Palmer, 404-242-4638
betsy.palmer@bearingpoint.com
or
The Abernathy MacGregor Group
Lex Suvanto, 212-371-5999
917-496-7287
lex@abmac.com
or
Investor Contacts
BearingPoint
Francesca Luthi, 646-584-0657
Francesca.luthi@bearingpoint.com
or
BearingPoint
Denise Stone, 973-214-9953
Denise.stone@bearingpoint.com

ARLSBAD, Calif.–(BUSINESS WIRE)–U.S. Microbics (OTCBB:BUGS), an environmental enhancement company, announced that it is redefining its mission

ARLSBAD, Calif.–(BUSINESS WIRE)–c in the environmental industry by offering financial consulting services and creative growth strategies for seasoned companies with innovative green technologies, organic consumables, or eco-friendly products that enhance the environment.

The company provides consulting, administrative, and investor relations services through its financial services subsidiary, USM Capital Group, Inc. which specializes in helping developmental stage companies with proven business models and growth potential obtain the capital they need to meet their strategic plan. The company provides pre-public fund raising strategies for private companies and bridge capital funding plans using equity capital for public companies. See www.usmcapital.com for more information.

Robert Brehm CEO commented, “BUGS is going through a metamorphosis from its beginnings as an environmental biotechnology company into a remediation services company to its current emphasis of providing value added financial consulting services for developing environmental companies based upon its skill, knowledge and experience in the environmental industry as a public company.”

Brehm went on to say, “We have persevered as a company because we believe in the technology and its benefits and as such have spent many years and financial resources organically growing the business based upon the environmental cleanup paradigm, “treat the source not the symptom”. However the environmental industry is changing with the green awakening of global warming, sustainable energy and agriculture, organic and aqua farming, recycling, and a myriad of other technologies to make this earth a better place to live. Concurrent with these changes is the need, by new product and service innovators, for allied consulting support services based on our many experiences and so BUGS must also change for its future success.”

Brehm continued, “Our core competency is our environmental industry knowledge, our ability to adapt to adverse conditions, our financial experience as a public environmental company and our expertise in raising capital at times when most thought it was impossible. Seasoned environmental-related companies seeking growth capital, acquisition or a public presence need our services so that they can fast-track their success using our experience.”

Brehm summarized, “BUGS has developed an innovative technology, grown with the environmental industry, recognized its trends and is now in the process of continuing to adopt to these trends for the benefit of industry growth, corporate growth, shareholder profitability and a cleaner, healthier world for generations to come. Our shareholders and clients will experience a dramatic change as we forge into the 2008 with our new mission.”

About U.S. Microbics Inc.

U.S. Microbics is a business services company that develops creative growth strategies for client companies with innovative technologies and eco-friendly products that positively enhance the environment for the benefit of mankind.

For more information on the company, contact Robert Brehm at 760-918-1860 x102 or visit the website at www.usmcapital.com.

The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words “estimate,” “anticipate,” “believe,” “expect,” or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company’s status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company’s actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the “Risk Factors,” “Management’s Discussion and Analysis or Plan of Operation” and other sections of the Company’s Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission. The Company will provide you with copies of this information upon request.

Contacts

for U.S. Microbics
Robert Brehm, 760-918-1860 x102
www.usmcapital.com

BearingPoint Named to GI Jobs’ 2007 Top 50 Military-Friendly Employer List

MCLEAN, Va.–(BUSINESS WIRE)–BearingPoint, Inc. (NYSE: BE – News), one of the world’s largest management and technology consulting firms, today announced it has been selected as one of the Top 50 Military-Friendly Employers by GI Jobs in the publication’s December 2007 issue. BearingPoint, a leader in serving public sector and government clients worldwide, ranked 31^st on the list.

Recently revealed in the December 2007 issue of GI Jobs (www.GIJobs.net), the fifth annual Top 50 Military-Friendly Employers list is developed after the magazine reviews an estimated 2,500 companies with revenues of at least $1 billion; only two percent of companies make the list. GI Jobs considered the strength of a company’s military recruiting efforts, the percentage of new hires with prior military service, and company policies toward national guard/reserve service and veteran community outreach.

“As a leading provider of consulting services to the U.S. government, including the Department of Defense, BearingPoint recognizes the importance of doing all we can to support our employees who are called into service as National Guard and Reserve personnel,” said Robin Lineberger, executive vice president for BearingPoint’s Public Services practice. “We actively recruit employees with prior military service because of the discipline, sense of mission, attention to detail and leadership skills they bring to BearingPoint and our clients. We are proud to be included in this select list of firms.”

Cost of Finance at Typical Companies Rises due to Compliance Activities

Typical Global 1000 Companies Now Spend $138 Million/Year More Than World-Class Companies on Finance Operations; Face Long-Term Challenge in Cost Reduction Efforts

ATLANTA & LONDON–(BUSINESS WIRE) Fallout from compliance-related activities continues to prevent CFOs at typical companies from resuming more than a decade of cost reduction efforts, according to new research from The Hackett Group, a global strategic advisory firm and an Answerthink company.

Hackett’s 2007 Finance Book of Numbers^TM research found that the typical Global 1000 company saw the cost of finance increase slightly over the past year, and is now spending 12% more than they did three years ago, in part due to increased focus and spending on compliance-related activities. World-class finance organizations, which have continued to reduce costs over Hackett’s 15-year research history, are now spending less than half what typical companies do. At a typical $22 billion Global 1000 company, this spending gap now amounts to savings of $138 million/year for world-class companies. In addition, world-class finance organizations operate with less than half the staff in virtually every key area of finance.

Compliance-related activities played a key part in ending the 14-year trend toward lower finance costs at typical Global 1000 companies in 2004, and according to Hackett, it is very likely that typical companies may face long-term challenges in their efforts to continue to reduce finance costs. As a result, the gap to world-class performance is expected to continue to widen. Companies with world-class finance organizations are now spending 47% less than the industry average on external audit fees, and operating with 44% fewer compliance staff.

Hill International Selected as Construction Manager for $200 Million Modernization of NASA’s Langley Research Center in Virginia

MARLTON, N.J. & WASHINGTON–(BUSINESS WIRE)–Hill International (Nasdaq:HINT – News), the worldwide construction consulting firm, announced today that it has received a contract from the U.S. General Services Administration to provide construction management services in connection with the $200 million New Town Program at the National Aeronautics and Space Administration’s Langley Research Center located in Hampton, Virginia. The potential five-year contract, consisting of a one-year base term and four one-year options, has an estimated value to Hill of approximately $7.5 million.

Executive Briefs November 06, 2007

Executive Briefs is a weekly roundup of some of the headlines globally in the fields of Consulting and contracting. Where longer articles exist they will be linked to.

BT to Acquire Consultancy

Net2S, an IT consultancy based in Paris France, will soon become part of BT’s drive into the French economy. In a cash and shares deal they have offered €5.27 a share in cash for 3.34 million and a share swap for approximately 42% of the company; taking their stake to approximately 69%.

Net2S reported annual revenues of €77 million until December 2006 and employs an international workforce of about 800 people in France, Europe, Morocco and the US.

Thomas Cook Signs Accenture for $400 million outsourcing deal

Accenture continue to grow their IT outsourcing practice in the UK with the recent deal signed with Thomas Cook to renew their outsourcing arrangement originally signed in 2002. Requirements to integrate recently acquired MyTravel.com to the existing outsourcing functions spurred the renegotiation.

Under the terms of the new contract Accenture will manage the SAP operations, accounts, payroll and HR as well as the provision of network and technical services. The work will be performed by its UK service centers, but will also draw on the human resources internationally including India where Accenture expects to increase its workforce from 8000 to 35000 by 2008.

CapGemini Turns up attention towards the North American Utilities Markets

In an indication of just how much the North American utilities and infrastructure markets are growing CapGemini have announced the appointment of three senior executives to their Utilities team.

Sudhir Rao, Don Durbin and Roy Ellis are examples of hard to find talent within the bursting consulting markets in this region. This includes management of regulatory relations, system architecture and business development within the outsourcing arenas. We will watch closely for the next moves in this space.

WSP Group remains on the Acquisition Path

WSP Group has agreed to pay 11 million GBP for SEi an engineering consultancy with three offices in the USA and clients in both the private and public sectors. WSP group is one of those slow burning companies. They continue along a very conservative path towards profitably growing their headcount across the world and returning a steady 8 – 10% for investors.

SEi has 150 staff, assets of around 2 million GBP and posted annual revenues of 10 million GBP in latest results. (More)

Coffey Continues on path of Growth

Coffey International is a Specialist Consultant delivering services to the Mining industries throughout the world. According to recent press releases they have recently purchased two international mining consultancies.

South African (backfill) consultancy NS Consultancy was acquired for $0.4 million in cash. The highly specialised Johannesburg-based business, founded and solely owned by Mr Nils Steward, employs five staff.

Coffey International Limited managing director Roger Olds said that the continued expansion of the Coffey group’s operations in Southern Africa and other key markets was part of the group’s strategy to compete in diverse specialties and geographies.

“Coffey Mining now totals approximately 200 staff across offices in South Africa, Ghana, Senegal and Zambia and sister company Coffey Projects employs 15 from its Johannesburg office,” Roger said. Coffey Mining chief executive officer Dan O’Toole said this acquisition complemented Coffey Mining’s current service areas.

Webber Associates UK Limited, a specialist geotechnical consulting firm based in the United Kingdom. This is Coffey’s second geotechnical acquisition in the United Kingdom. Coffey paid a total of $2.2 million, consisting of $1.5 million cash and $0.7 million in shares in a transaction completed today. The company is wholly owned by founder Ian Webber.

Webber Associates is a specialist geotechnical design group primarily servicing the construction sector. The company, based in Knaresborough in Northern England, employs twelve staff plus a number of specialist consultants.

Coffey International Limited managing director Roger Olds said acquiring Webber Associates was part of Coffey Geotechnics’ intent to rapidly grow its range of services offered in the United Kingdom and longer-term pursue work more widely in Europe and the Middle East.

Chief Executive Officer of Coffey Geotechnics Matt Thomas said that after a period consolidating the acquisition of EDGE Consulting, this was the next step to expand Coffey Geotechnics’ range of services in the United Kingdom. “Webber Associates’ specialist geotechnical design skills complement our existing services and enable us to offer a greater range of services to our clients. (More)

Mincom Edges Closer to Department of Defense Deal

The Age newspaper from Australia reports a Defense Department spokeswoman confirming that they are in negotiations with Queensland IT consultancy Mincom for the latest phase of a massive Supply Chain project for the Australian Defense Forces.

The project is aimed at providing logistics software for troops that are cut off from normal communications for some reason. Mincom already holds a $150 million AUD contract and this round of project work could see it in the drivers seat for an additional $100 million AUD.

Although a long term supplier to the worlkds Defense forces these projects mark the transition of Mincom from the Maintenance and Mining software it so successfully exported into area of IT consultancy and the wider logistics fields.

Since its take over by Francisco Partners earlier this year Mincom has recorded a surprisingly healthy string of successful bids, emerging as a major thorn in the side of Oracle and SAP within its chosen markets. (More)