Steven S. Myers, Founder, Ex-CEO and Largest Shareholder of SM&A, Issues Statement

  
    
  
  
    
      Steven S. Myers, the largest shareholder of SM&A (NASDAQ: WINS) as well 
      as the Company’s founder and retired chairman 
      and chief executive officer, today issued the following statement in 
      response to inquiries:
    
    
      "The press release issued by SM&A today seeks to deflect shareholder 
      attention from loss of shareholder value and uncertainty about future 
      profitability to years-old events that occurred during the creation of 
      the company. While they look backward, we look forward.
    
    
      “SM&A’s repeated 
      failure to provide accurate and credible information to the investment 
      community is amply reflected in the public record, and is, in our view, 
      directly responsible for the substantial loss of shareholder value that 
      has occurred over the past year.
    
    
      “As we’ve said 
      before, we are pursuing this proxy contest to address four critical 
      issues: (1) providing better financial oversight to ensure reasonably 
      accurate guidance; (2) correcting accounting methodology to remedy the 
      negative impact of the PPI acquisition’s 
      accounting process; (3) improving fiscal strategy to more effectively 
      deploy available cash; and (4) reversing recent attrition of critical 
      talent.
    
    
      “Only by addressing these issues, we believe, 
      can SM&A regain the trust of the investment community and rebuild the 
      value that has been destroyed over the past year.
    
    
      “We urge SM&A shareholders to vote for the 
      partial Board slate we are proposing, which includes myself, Ken 
      Colbaugh, Al Nagy, and Redge Bendheim.”
    
    
      Mr. Myers has an ownership stake of 2,997,225 shares or approximately 
      15.7 percent of the Company’s outstanding 
      shares.
    
    
      On April 23rd, Mr. Myers filed with the 
      Securities and Exchange Commission an investor presentation setting 
      forth in detail his reasons for seeking the election of four Board 
      candidates, including himself, to the Company’s 
      Board of Directors at the Company’s next 
      Annual Meeting, currently set to take place on May 23rd. 
      The presentation can be accessed at www.sec.gov 
      or directly through the following link: http://www.sec.gov/Archives/edgar/data/1050031/ 
      000110465908026102/a08-8941_1dfan14a.htm. 
      (Due to its length, this URL may need to be copied/pasted into your 
      Internet browser's address field. Remove the extra space if one exists.)
    
    
      
        
          Every Vote Counts - Vote the GOLD PROXY CARD TODAY!
        
      
      
        
           
        
      
      
        
          Proxy Material from Steven S. Myers has already been distributed to 
          all shareholders including a GOLD PROXY CARD. Mr. Myers urges all 
          shareholders to vote only the GOLD PROXY CARD. If you have any 
          questions, or need assistance with voting, please contact:
        
      
      
        
           
        
      
      
        
          Georgeson Inc.
        
      
      
        
           
        
      
      
        
          Toll Free [phone]
        
      
    
    
      SM&A, based in Newport Beach, Calif., provides competition management 
      and program support services to major industrial customers in the 
      Aerospace & Defense, Information Technology, Telecommunications, and 
      other industries.
    
    
      THIS PRESS RELEASE IS FOR GENERAL INFORMATIONAL PURPOSES ONLY. IT DOES 
      NOT PERTAIN TO THE SPECIFIC INVESTMENT OBJECTIVE, FINANCIAL SITUATION, 
      SUITABILITY, OR THE PARTICULAR NEEDS OF ANY SPECIFIC PERSON WHO MAY 
      RECEIVE THIS PRESS RELEASE, AND SHOULD NOT BE TAKEN AS ADVICE ON THE 
      MERITS OF ANY INVESTMENT DECISION. THE VIEWS EXPRESSED HEREIN REPRESENT 
      THE OPINIONS OF STEVEN S. MYERS, AND ARE BASED ON PUBLICLY AVAILABLE 
      INFORMATION WITH RESPECT TO SM&A (THE “ISSUER”).
    
    
      EXCEPT FOR THE HISTORICAL INFORMATION CONTAINED HEREIN, THE MATTERS 
      ADDRESSED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS THAT 
      INVOLVE CERTAIN RISKS AND UNCERTAINTIES. YOU SHOULD BE AWARE THAT ACTUAL 
      RESULTS COULD DIFFER MATERIALLY FROM THOSE CONTAINED IN THE 
      FORWARD-LOOKING STATEMENTS. MR. MYERS ASSUMES NO OBLIGATION TO UPDATE 
      THE FORWARD-LOOKING INFORMATION.
    
    
      MR. MYERS RESERVES THE RIGHT TO CHANGE ANY OF HIS OPINIONS EXPRESSED 
      HEREIN AT ANY TIME AS HE DEEMS APPROPRIATE. MR. MYERS DISCLAIMS ANY 
      OBLIGATION TO UPDATE THE INFORMATION CONTAINED HEREIN.
    
    
      MR. MYERS HAS NOT SOUGHT OR OBTAINED CONSENT FROM ANY THIRD PARTY TO USE 
      ANY STATEMENT OR INFORMATION INDICATED IN THIS PRESS RELEASE OR THE 
      PRESENTATION REFERRED TO HEREIN AS HAVING BEEN OBTAINED OR DERIVED FROM 
      STATEMENTS MADE OR PUBLISHED BY THIRD PARTIES. ANY SUCH STATEMENT OR 
      INFORMATION SHOULD NOT BE VIEWED AS INDICATING THE SUPPORT OF SUCH THIRD 
      PARTY FOR THE VIEWS EXPRESSED HEREIN. NO WARRANTY IS MADE THAT DATA OR 
      INFORMATION, WHETHER DERIVED OR OBTAINED FROM FILINGS MADE WITH THE SEC 
      OR FROM ANY THIRD PARTY, IS ACCURATE.
    
    
      EACH OF MR. MYERS, KENNETH W. COLBAUGH, ALBERT S. NAGY AND REDGE E. 
      BENDHEIM (COLLECTIVELY, THE “PARTICIPANTS”) 
      IS DEEMED A PARTICIPANT IN THE SOLICITATION OF PROXIES DESCRIBED IN THIS 
      PRESS RELEASE. INFORMATION REGARDING THE PARTICIPANTS AND THEIR DIRECT 
      OR INDIRECT INTERESTS, BY SECURITY OWNERSHIP OR OTHERWISE, IS AVAILABLE 
      IN THE DEFINITIVE PROXY STATEMENT ON SCHEDULE 14A FILED BY MR. MYERS 
      WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 18, 2008.
    
    
      ALL STOCKHOLDERS OF THE ISSUER ARE ADVISED TO READ THE DEFINITIVE PROXY 
      STATEMENT AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES BY 
      MR. MYERS FOR USE AT THE 2008 ANNUAL MEETING OF STOCKHOLDERS OF THE 
      ISSUER BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION. THE 
      DEFINITIVE PROXY STATEMENT AND FORM OF PROXY HAVE BEEN MAILED TO 
      STOCKHOLDERS OF THE ISSUER. STOCKHOLDERS OF THE ISSUER MAY OBTAIN COPIES 
      OF THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS AT NO 
      CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. 
      IN ADDITION, MR. MYERS WILL PROVIDE COPIES OF THE DEFINITIVE PROXY 
      STATEMENT WITHOUT CHARGE UPON REQUEST.