Exhibit 99.1
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NEWS RELEASE
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FOR IMMEDIATE RELEASE
ENGlobal CONTACT: Natalie S. Hairston
Corporation (281) 878-1000
ir@ENGlobal.com
ENGlobal Corporation Announces Annual Meeting Results
HOUSTON, TX, JUNE 14, 2007 - ENGlobal Corporation (AMEX: ENG), a leading
provider of engineering services, today announced the results of its 2007 annual
stockholders' meeting held this morning in North Houston.
The formal business of the meeting included the approval of amendments to the
Company's 1998 Incentive Plan to (1) increase the number of shares available for
issuance thereunder from 2,650,000 to 3,250,000, and (2) comply with Section
162(m) and 409A of the Internal Revenue Code. In addition, ENGlobal's
stockholders elected the following directors to a one-year term: William A.
Coskey, P.E., David W. Gent, P.E., Randall B. Hale, and David C. Roussel.
Approximately 90% of ENGlobal's total common stock outstanding was represented
at the meeting, either in person or by proxy. Of those shares, approximately 68%
were cast in favor of amending the Incentive Plan, and approximately 98% were
cast in favor of the election of the Company's directors. Upon conclusion of the
formal business of the meeting, ENGlobal's Chairman and CEO, Mr. Coskey, updated
the stockholders on ENGlobal's current business outlook and strategies.
About ENGlobal Corporation
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ENGlobal Corporation provides engineering, automation systems, field inspection,
and land management and regulatory services principally to the petroleum
refining, petrochemical, pipeline, production, and process industries throughout
the United States and internationally. The Company, with its subsidiaries, now
employs over 2,400 employees in 18 offices and occupies over 400,000 square feet
of office and manufacturing space. In 2004 and 2005, the Company was named the
#1 fastest growing engineering firm in the United States and Canada by
ZweigWhite and was ranked #2 in 2006 and 2003. Further information about the
Company and its subsidiaries is available at www.ENGlobal.com.
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Safe Harbor for Forward-Looking Statements
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Certain matters discussed in this press release may constitute forward-looking
statements within the meaning of the federal securities laws and are subject to
risks and uncertainties including, but not limited to; (1) the continued strong
performance of the energy sector (2) general economic conditions that impact the
cost of labor and materials; and (3) the Company's ability to achieve its
business strategy while effectively managing costs and expenses. Actual results
and the timing of certain events could differ
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654 N. Sam Houston Parkway E. - Suite 400 - Houston, Texas 77060-5914
www.ENGlobal.com
ENGlobal Corporation Press Release
June 14, 2007
Page 2
materially from those projected in or contemplated by the forward-looking
statements due to a number of factors detailed from time to time in ENGlobal's
filings with the Securities and Exchange Commission. In addition, reference is
hereby made to cautionary statements set forth in the Company's most recent
reports on Form 10-K and 10-Q, and other SEC filings. Also, the information
contained in this press release is subject to the risk factors identified in the
Company's most recent Form 10-K.
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