COLUMBIA, Md. –
GSE Systems, Inc. (“GSE” or “the Company”) (Nasdaq:GVP), a
leading provider of professional and technical engineering, staffing
services, and simulation software to clients in the power and process
industries, today announced that it has been awarded a contract for the
continuation of support services to two US Government engineering
laboratories dedicated to the support of the US Navy. GSE will serve as
a subcontractor to a large global engineering, construction and project
management firm. The services include providing simulation engineers and
test specialists. The initial year is worth $3.6 million (February 2018
to February 2019) with four additional optional years that would bring
the total contract value to approximately $19 million. GSE, which has
been under a series of services contracts with these laboratories for 15
years, is tasked to build and test training devices used across a
variety of government locations.

Kyle Loudermilk, President and CEO of GSE said, “This contract is a
continuation of a long-standing successful relationship with the
laboratories and reflects their satisfaction with the quality of
services we provide. We are honored to serve this customer in support of
the US Navy, proud of the value we provide, and are excited for the
opportunity to continue serving the Navy’s needs well into the future.”

ABOUT GSE SYSTEMS, INC.

GSE Systems, Inc. is a leading provider of professional and technical
engineering, staffing services, and simulation software to clients in
the power and process industries. GSE’s products and services are
tailored to help customers achieve performance excellence in design,
training, compliance, and operations. The Company has over four decades
of experience, more than 1,100 installations, and hundreds of customers
in over 50 countries spanning the globe. GSE Systems is headquartered in
Sykesville (Baltimore), Maryland, with offices in Columbia, Maryland;
Navarre, Florida; Montrose, Colorado; and Beijing, China. Information
about GSE Systems is available at www.gses.com.

FORWARD LOOKING STATEMENTS

We make statements in this press release that are considered
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934. These statements reflect our current expectations
concerning future events and results. We use words such as “expect,”
“intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,”
and similar expressions to identify forward-looking statements, but
their absence does not mean a statement is not forward-looking. These
statements are not guarantees of our future performance and are subject
to risks, uncertainties, and other important factors that could cause
our actual performance or achievements to be materially different from
those we project. For a full discussion of these risks, uncertainties,
and factors, we encourage you to read our documents on file with the
Securities and Exchange Commission, including those set forth in our
periodic reports under the forward-looking statements and risk factors
sections. We do not intend to update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181108005225/en/

Company
Chris Sorrells
Chief Operating Officer
GSE
Systems, Inc.
(410) 970-7802
or
The Equity Group Inc.
Kalle
Ahl, CFA
(212) 836-9614
kahl@equityny.com