Underwriters Exercise Over-Allotment Option in Full

SAN DIEGO and MCLEAN, Va., Oct. 19 /PRNewswire-FirstCall/ -- SAIC, Inc. (NYSE: SAI) announced the closing of its initial public offering on October 17, 2006 of 86,250,000 shares of common stock, which includes the exercise of the underwriters' over-allotment option to purchase 11,250,000 shares. The offering was priced at $15.00 per share and resulted in net proceeds to SAIC of approximately $1,245,000,000, after deducting underwriting commissions and discounts, but before other offering-related expenses.

Morgan Stanley & Co. Incorporated and Bear, Stearns & Co. Inc. served as joint book-running managers for the offering.

SAIC is a leading provider of scientific, engineering, systems integration and technical services and solutions to all branches of the U.S. military, agencies of the Department of Defense, the intelligence community, the U.S. Department of Homeland Security and other U.S. Government civil agencies, as well as to customers in selected commercial markets. With more than 43,000 employees in over 150 cities worldwide, SAIC engineers and scientists solve complex technical challenges requiring innovative solutions for customers' mission-critical functions. SAIC had annual revenues of $7.8 billion for its fiscal year ended January 31, 2006.

SAIC: FROM SCIENCE TO SOLUTIONS(TM)

Statements in this announcement other than historical data and information constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements or industry results to be very different from the results, performance or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's final prospectus relating to the offering, and such other filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward- looking statements, which speak only as of the date hereof.

SOURCE SAIC
10/19/2006
CONTACT: San Diego: Ron Zollars, +1-858-826-7896, zollarsr@saic.com, or
McLean, VA: Connie Custer, +1-703-676-6533, custerc@saic.com, both of SAIC
Web site: http://www.saic.com
(SAI)