SYKESVILLE, Md. –
GSE Systems, Inc. (“GSE” or “the Company”) (NYSE MKT: GVP), the
world leader in real-time high-fidelity simulation systems and training
solutions to the power and process industries, today announced the
appointment of Emmett A. Pepe as Chief Financial Officer, effective July
1, 2016. Mr. Pepe brings to GSE 30 years of experience in finance
management, with strong leadership skills and expertise in financial
reporting, international accounting operations, systems integration,
internal controls and process improvements, across a variety of business
sectors with a focus on the software and telecommunications industries.
He will succeed Jeff Hough, who will be pursuing other interests, after
a successful transition of the Company’s systems and controls to Mr.
Pepe.

Mr. Pepe joins GSE from MicroStrategy, Inc., a company focused on
business intelligence, big data, and mobile identity solutions, where he
served as the Senior Vice President Finance and Worldwide Controller
overseeing financial activities for the company including accounting,
financial reporting, tax and treasury. Prior to MicroStrategy, Inc., Mr.
Pepe held the position of Vice President Accounting and Corporate
Controller at BroadSoft, Inc., a software and services company that
enables telecommunications service providers to deliver hosted,
cloud-based unified communications to their enterprise customers, where
he was responsible for overall global accounting, SEC reporting, tax,
treasury, human resources and facilities. Mr. Pepe was part of the
executive management team that took the company public in 2010. Prior to
BroadSoft, Inc., he held senior finance management positions with
various companies including Software AG, webMethods, Inc., British
Telecom Inc., Concert Communications Company and MCI Communications
Corporation.

Mr. Pepe earned his BS in Accounting from Penn State University, is a
licensed Certified Public Accountant (CPA) in Virginia, and is a member
of American Institute of CPAs and the Virginia Society of CPAs.

Chris Sorrells, GSE’s Interim Chief Operating Officer, said, “Emmett is
a high-energy, seasoned professional with modern finance and accounting
operations skills. His financial skillset, technical know-how, and hands
on approach to management make Emmett the ideal leader to optimize GSE’s
finance function and energize staff as we pursue new growth initiatives.”

Mr. Pepe commented, “I am thrilled to be joining GSE at this exciting
time in its history, and look forward to working closely with GSE’s
leadership to support the continuing growth and evolution of the
Company.”

ABOUT GSE SYSTEMS, INC.

GSE Systems, Inc. is a world leader in real-time high-fidelity
simulation, providing a wide range of simulation, training and
engineering solutions to the power and process industries. Its
comprehensive and modular solutions help customers achieve performance
excellence in design, training and operations. GSE’s products and
services are tailored to meet specific client requirements such as
scope, budget and timeline. 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 St. Marys, Georgia;
Huntsville, Alabama; Chennai, India; Nyköping, Sweden; Stockton-on-Tees,
UK; 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,” “anticipate,” 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: http://www.businesswire.com/news/home/20160705005723/en/

GSE Systems, Inc.
Chris Sorrells, 410-970-7802
Interim
Chief Operating Officer
or
The Equity Group Inc.
Devin
Sullivan, 212-836-9608
Senior Vice President
dsullivan@equityny.com
or
Kalle
Ahl, CFA, 212-836-9614
Senior Associate
kahl@equityny.com