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DELTEK EASES SOME STOCK RESTRICTIONS

Deltek and New Mountain Funds, which helped recapitalize the company and take it public in 2007, have agreed to waive restrictions on the sale of stock held by a trust owned by Donald deLaski, one of the company's cofounders. Under the agreement, restrictions were lifted on the sale or transfer of 500,000 shares of Deltek common stock held by the deLaski trust.

Another 1.5 million shares held by the trust remain subject to the restrictions. The restrictions were also removed on about 300,000 shares were lifted for some former employees and some individuals and entities who acquired Deltek shares as a result of acquisitions. Those shares closed at $7.02 yesterday so the 500,000 held by deLaski have a market value of $3.5 million. Sales of common stock are often restricted when companies go public so that insiders can't sell large volumes of stock and depress the share price. Restrictions often provide that some shares can be sold after designated periods. The 2005 agreement generally prohibited sale or transfer of restricted stock as long as New Mountain owns 15 percent or more of the voting stock. This agreement follows New Mountain's purchase of just over 15.5 million shares through the exercise of options in May and June. That boosted its holdings to just over 40.8 million shares out of nearly 66 million outstanding.

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