SOURCE: TeleCommunication Systems, Inc.

June 16, 2008 16:10 ET

TeleCommunication Systems, Inc. Set to Join Russell 3000 Index and Russell Global Index on June 27

ANNAPOLIS, MD--(Marketwire - June 16, 2008) - TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a leading provider of mission-critical wireless communications technology, is set to join the broad-market Russell 3000® Index and the Russell Global Index® when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 27, according to a preliminary list of additions posted Friday on www.russell.com. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes.

Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Russell determines membership for its equity indexes primarily by objective market-capitalization rankings and style attributes.

"The addition of TCS to the Russell 3000 represents another major milestone for our company, following a number of others this year," said Maurice B. Tosé, TCS chairman, CEO, and president. "This includes record revenues and profits achieved in the first quarter, enhanced visibility from record backlog for our messaging software and satcom systems, and successful monetization of patent portfolio assets. Inclusion in the Russell 2000 Growth Index expands awareness among institutional investors and the investment community of our accomplishments, as well as our company's tremendous potential."

The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched last year. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

Final membership lists for the Russell 3000®, Russell 1000®, Russell 2000, Russell Global, Russell Midcap® and Russell Microcap will be posted June 30.

Real-time market analysis on the Russell 3000 and other Russell Indexes is available at http://www.russell.com/Indexes/performance/real_time_market_analysis.asp.

About Russell Investments

Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Headquartered in Tacoma, Wash., Russell has principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information on Russell indexes, go to www.russell.com.

About TeleCommunication Systems, Inc.

TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) produces wireless data communications technology solutions that require proven high levels of reliability. TCS provides wireless and VoIP E9-1-1 network-based services, secure deployable communication systems, engineered satellite-based services, and commercial location applications, like traffic and navigation, using the precise location of a wireless device. Customers include leading wireless, cable MSOs, and VoIP carriers around the world, and agencies of the U.S. Departments of Defense, State, and Homeland Security. For more information, visit www.telecomsys.com.

Contact Information

  • Company Contacts:
    Tom Brandt
    Senior Vice President and CFO
    TeleCommunication Systems, Inc.
    Tel 410-280-1001
    Email Contact

    Scott Liolios or Matt Glover
    Investor Relations
    Liolios Group
    Tel 949-574-3860
    Email Contact