Relational Advisors

is pleased to announce its role as
financial advisor to

in connection with its acquisition by

July 29, 2005

Transaction Highlights

	Successful culmination of Relational’s 10-year relationship with The Titan Corporation with the closing of the $2.7 billion sale to L-3 Communications, Inc.

	Demonstration of Relational’s “in the trenches” approach to client transactions.

	Transaction conducted in an expedited timeframe that resulted in the creation of significant value for Titan shareholders.

	Offer price received represented a 23% premium to the average closing stock price of Titan for the 90-day period prior to announcement and an EBITDA multiple of 14.2x for the last twelve months, one of the highest multiples paid in comparable acquisitions.

	Reinforces Relational Advisors’ position as a leading financial advisor.
	–	Significant public-to-public transaction
	–	Provided a fairness opinion as an independent, highly credible advisor

Client Testimonial

”Relational Advisors has been Titan’s trusted financial advisor for over a decade. The firm’s experienced and dedicated team is always proactive and has demonstrated the ability to skillfully handle even the most complex problems and challenges. Relational has helped Titan’s management team and board of directors create value for the company’s shareholders.”

– Gene Ray, Chairman, President and CEO



	Contact Us 12400 High Bluff Dr., Ste. 600 San Diego, CA 92130 Tel. (858) 704-3300 Fax (858) 704-3340 info@relationaladvisors.com www.relationaladvisors.com For more information on the Titan transaction please contact: Joel Reed, Principal (858) 704-3306 jreed@relationaladvisors.com Kathy Scott, Managing Director (858) 704-3309 kscott@relationaladvisors.com Kurt Wickham, Vice President (858) 704-3378 kwickham@relationaladvisors.com		What's New Relational Advisors is pleased to announce its role as financial advisor to The TPL Group in connection with the unification of their interests in a portfolio of microprocessor patents with Patriot Scientific Relational Advisors is pleased to announce its role as financial advisor to The Estate of Alan James in connection with the sale of 3.5 million common shares in The Greenbrier Companies Relational Advisors is pleased to announce its role as financial advisor to Del Mar Database in its sale to Fiserv ’Low-Profile Powerhouse’ Relational Advisors Appears in San Diego Union Tribune Relational Advisors is pleased to announce its role as financial advisor to Onyx Acceptance Corporation in its sale to Capital One

	About Relational Advisors Relational Advisors is one of the West Coast's preeminent private investment banking firms. We have been involved in some of the most significant and complex transactions in America. Relational Advisors specializes in mergers and acquisitions, private financings, complex shareholder and Board of Directors matters, restructurings and crisis situations for clients ranging from middle market companies to the Fortune 500. Since the firm's inception in 1988, Relational Advisors has executed numerous transactions for our clients totaling more than $60 billion. The senior professionals of Relational Advisors bring more than 20 years on average of experience to the firm's high profile and complex engagements - such as the restructuring of Enron and unlocking of value for Chrysler shareholders. We work "in the trenches" to achieve our clients' strategies and financial objectives, which has earned us the reputation as long-term, trusted advisors to a select group of performance driven companies. About the Titan Corporation Headquartered in San Diego, The Titan Corporation is a leading provider of comprehensive information and communications systems solutions and services to the Department of Defense, intelligence agencies, and other federal government customers. As a provider of national security solutions, the company has approximately 12,500 employees and annualized sales of approximately $2.5 billion. About L-3 Communications, Inc. Headquartered in New York City, L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services and is a merchant supplier of a broad array of high technology products. Its customers include the Department of Defense, Department of Homeland Security, selected U.S. Government intelligence agencies and aerospace prime contractors. Testimonials may not be representative of the experience of other clients. Past performance may not be indicative of future performance or success.