Unisys Corporation Announces Extension of Expiration Date for Private Debt Exchange Offer and Concurrent Private Notes Offering

Unisys Corporation (NYSE:UIS) announced today that the expiration date in respect of its previously announced private offer to exchange its 6 7/8% Senior Notes due 2010 (the “2010 Notes”), 8% Senior Notes due 2012 (the “2012 Notes”), 8 1/2% Senior Notes due 2015 (the “2015 Notes”) and 12 1/2% Senior Notes due 2016 (the “2016 Notes” and, collectively with the 2010 Notes, 2012 Notes and 2015 Notes, the “Senior Notes”) in a private placement for new 12 5/8% Senior Secured Notes due 2014 (the “New Secured Notes”) to be issued by Unisys Corporation (“Unisys” or the “Company”) has been extended until Midnight, New York City time, on June 26, 2009, unless terminated or further extended. As previously announced, concurrently with the exchange offer Unisys is privately offering New Secured Notes (the “Concurrent Notes Offering”) to eligible holders of the 2015 Notes and the 2016 Notes.

The Company and its representatives continue to be in discussions with representatives of holders of Senior Notes regarding the proposed transaction.

The early tender date and the withdrawal deadline relating to the Senior Notes properly tendered in the exchange offer and subscriptions submitted in the Concurrent Notes Offering each occurred at 5:00 p.m., New York City time, on May 13, 2009. Senior Notes tendered in the exchange offer and subscriptions submitted in the Concurrent Notes Offering may not be withdrawn. As of the close of business on June 12, 2009, the Company was advised by the exchange agent for the exchange offer and the Concurrent Notes Offering that approximately $35.7 million, $33.5 million, $0.6 million and $3.4 million in aggregate principal amount of 2010 Notes, 2012 Notes, 2015 Notes and 2016 Notes, respectively, had been tendered and not validly withdrawn.

The complete terms and conditions of the exchange offer and the Concurrent Notes Offering are, except as modified by this press release, set forth solely in the confidential offering circular dated April 30, 2009 (as it may be supplemented and amended from time to time, the “Offering Circular”) and the accompanying letter of transmittal and subscription agreement (as it may be supplemented and amended from time to time, the “Letter of Transmittal” and, together with the Offering Circular, the “Offering Documents”). Offering Documents have been distributed only to holders of Senior Notes who completed a form confirming that they are within the category of eligible holders for this private offer. The exchange offer and the Concurrent Notes Offering are made only by, and pursuant to, the terms set forth in the Offering Circular, and the information in this press release is qualified by reference to the Offering Documents. Subject to applicable law, Unisys may amend, extend or terminate the exchange offer and the Concurrent Notes Offering.

The exchange offer and the Concurrent Notes Offering are being made, and the New Secured Notes are being offered and issued within the United States only to “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. investors. The New Secured Notes to be offered have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy Senior Notes or New Secured Notes.

About Unisys

Unisys is a worldwide information technology company. We provide a portfolio of IT services, software, and technology that solves critical problems for clients. We specialize in helping clients secure their operations, increase the efficiency and utilization of their data centers, enhance support to their end users and constituents, and modernize their enterprise applications. To provide these services and solutions, we bring together offerings and capabilities in outsourcing services, systems integration and consulting services, infrastructure services, maintenance services, and high-end server technology. With more than 27,000 employees, Unisys serves commercial organizations and government agencies throughout the world. For more information, visit www.unisys.com

Forward-Looking Statements

Any statements contained in this press release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, any statements of the Company’s plans, strategies or objectives for future operations; statements regarding future economic conditions or performance; and any statements of belief or expectation. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. There can be no assurance that the exchange offer or the Concurrent Notes Offering will be completed, either because the minimum conditions to complete the transaction may not be met, or otherwise. Factors that could affect the Company’s future results include: the Company’s ability to refinance its debt; the economic and business environment; the Company’s ability to access external credit markets; the Company’s significant pension obligations; the success of the Company’s turnaround program; aggressive competition in the information services and technology marketplace; volatility and rapid technological change in the Company’s industry; the Company’s ability to retain significant clients; the Company’s ability to grow outsourcing; the Company’s ability to drive profitable growth in consulting and systems integration; market demand for the Company’s high-end enterprise servers and maintenance on these servers; the risk that the Company’s contracts may not be as profitable as expected or provide the expected level of revenues and that contracts with U.S. governmental agencies may be subject to audits, criminal penalties, sanctions and other expenses and fines; the risk that the Company may face damage to its reputation or legal liability if its clients are not satisfied with its services or products; the performance and capabilities of third parties with whom the Company has commercial relationships; the risks of doing business internationally; the business and financial risk in implementing future dispositions or acquisitions; the potential for infringement claims to be asserted against the Company or its clients and the possibility that pending litigation could affect the Company’s results of operations or cash flow. Additional discussion of these and other factors that could affect Unisys’ future results is contained in its periodic filings with the Securities and Exchange Commission. Unisys assumes no obligation to update any forward-looking statements.

RELEASE NO.: 0612/8996
http://www.unisys.com/about__unisys/news_a_events/06128996.htm

Unisys is a registered trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.