BearingPoint Names Spencer Fleischer to Board of Directors

MCLEAN, Va., July 20 /PRNewswire-FirstCall/ -- BearingPoint, Inc. , one of the world's largest management consulting and systems integration firms, today named Spencer Fleischer, Vice Chairman of Friedman, Fleischer & Lowe (FFL), a leading private investment firm, to its board of directors. The addition of Fleischer expands BearingPoint's board to nine members.

"Spencer's experience helping companies drive toward growth and profitability will be of immense importance to us as BearingPoint continues its turnaround," said BearingPoint CEO Harry You. "He brings an independent perspective on key corporate issues and an instinct for spotting new market opportunities that can enhance shareholder value."

The addition of Fleischer to the Company's Board of Directors comes at the conclusion of separate agreements in which the Company secured additional capital by closing a five-year, $150 million line of credit with a syndicate of banks including UBS, which will act as issuing bank and administrative agent to the facility, and a $40 million private investment by Friedman, Fleischer & Lowe.

Before joining FFL in 1998, Fleischer spent 19 years with Morgan Stanley & Company as an investment banker and manager. He was a member of the worldwide Investment Banking Operating Committee and was responsible for substantial business units within the Investment Banking Division. Fleischer served as head of Investment Banking in Asia, head of Corporate Finance for Europe, head of UK Corporate Finance, head of Investment Banking in Los Angeles, and head of Corporate Finance in San Francisco. Fleischer is a director of Chief Manufacturing Inc., Advanced Career Technologies, Inc., and Wilton Re Holdings Limited. He is also a member of the Finance Committee of the William and Flora Hewlett Foundation, Menlo Park, California, the Fellowship Campaign Executive Committee for Lincoln College, Oxford, and the Commercial Committee of the Mater Medical Research Institute, Brisbane, Australia.

Fleischer earned a M. Phil. in Management Studies at Oxford University, where he studied as a Rhodes Scholar. He graduated from the University of the Witwatersrand in Johannesburg with a B.A. (Hons) degree in Economics.

About BearingPoint, Inc.

BearingPoint, Inc. is one of the world's largest management consulting, systems integration and managed services firms serving government agencies, Global 2000 companies, medium-sized businesses and other organizations. We provide business and technology strategy, systems design, architecture, applications implementation, network infrastructure, systems integration and managed services. Our service offerings are designed to help our clients generate revenue, reduce costs and access the information necessary to operate their business on a timely basis. Based in McLean, Va., BearingPoint has been named by Fortune as one of America's Most Admired Companies in the computer and data services sector. For more information, visit the Company's website at http://www.bearingpoint.com/.

This press release may contain forward-looking statements relating to our operations that are based on our current expectations, estimates and projections. Words such as "expects," "intends," "plans," "projects," "believes," "estimates," and similar expressions are used to identify these forward-looking statements. These statements 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 that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Our actual results may differ from the forward- looking statements for many reasons, including: the business decisions of our clients regarding the use of our services; the timing of projects and their termination; the availability of talented professionals to provide our services; the pace of technological change; the strength of our joint marketing relationships and the actions of our competitors. In addition, these statements could be affected by domestic and international economic and political conditions. For a more detailed discussion of these factors, see Exhibit 99.1 in our Form 10-Q for the period ended September 30, 2004 and our Form 8-Ks filed as of December 16, 2004, March 18, 2005 and April 20, 2005.