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ADMINISTAFF ANNOUNCES EXPANSION PLANS FOR ITS CORPORATE
HEADQUARTERS
HOUSTON, TX – October 10, 2000
– Administaff, Inc. (NYSE: ASF), the leading Professional
Employer Organization (PEO), today announced a two-year building
program that will significantly expand the amount of office space
at its corporate headquarters in Kingwood, Texas.
The project includes a five-story, 174,000-square-foot
office building; a six-level, 143,000-square-foot parking garage;
a 7,300-square-foot expansion of an existing building; a day care
center for employees’ children; and a one-acre lake. Pending the
selection of a general contractor and the completion of a competitive
bid process, the cost of the new project is currently expected to
exceed $20 million.
Construction of the new facilities is scheduled
to begin in the first quarter of 2001. When completed, the 28-acre
campus will accommodate approximately 1,300 employees, which compares
to the current occupancy of about 440 employees.
"The expansion of our corporate headquarters
is needed to help keep pace with our aggressive national expansion
program and the rapid growth of our client base," said Richard
G. Rawson, Administaff’s executive vice president of administration
and chief financial officer. "Moreover, we are pleased and
proud to be expanding our presence in Kingwood, and we look forward
to continuing our long-standing partnership with the local community."
Administaff moved to its current corporate headquarters
site in 1991 and completed an expansion of the facility in 1996.
The campus now includes 130,000 square feet of office space in two
buildings.
Design services for the expansion project are
being provided by Munson Kennedy Partnership Architects, with Terry
Kennedy serving as project architect.
Administaff is a leading personnel management
company that serves as a full-service human resources department
for small and medium-sized businesses throughout the United States.
With 1999 revenues of $2.3 billion, Administaff ranks number 615
on the Fortune 1000 list. The company also is included for the second
consecutive year on the Information Week 500 list of leading information
technology innovators.
Administaff’s Personnel Management System includes
employment administration, benefits management, government compliance,
recruiting and selection, employer liability management, training
and development, performance management and owner support. These
core services are complemented by an eBusiness strategy that includes
Administaff Assistant®, an eService platform that provides clients
and worksite employees with information and resources to help maximize
the benefit of their Administaff services; and bizzportSM,
an eCommerce portal that features value-added products and services
from best-of-class providers such as American Express, Aon Enterprise,
AT&T, Bank One, Dell, Forrester Research, IBM, MobShop and works.com.
Administaff has 29 sales offices in 17 major
markets. For additional information, visit the company’s web site
at www.administaff.com.
(Note: The statements contained in this press
release that are not historical facts are forward-looking statements
that involve a number of risks and uncertainties. Therefore, the
actual results of future events described in such forward-looking
statements could differ materially from those stated in such forward-looking
statements. Among the factors that could cause actual results to
differ materially are: (i) regulatory and tax developments; (ii)
changes in Administaff’s direct costs and operating expenses; (iii)
the estimated costs and effectiveness of capital projects and investments
in technology and infrastructure; (iv) Administaff’s ability to
effectively implement its eBusiness strategy; (v) the effectiveness
of Administaff’s sales and marketing efforts, including the company’s
marketing arrangements with other companies; and (vi) changes in
the competitive environments in the PEO industry. These factors
are described in further detail in Administaff’s filings with the
Securities and Exchange Commission.)
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