Chugach Alaska Corporation Announces FY2000 Dividend

Anchorage, AK – May, 16, 2001 - The Chugach Alaska Corporation (founded as Chugach Natives Incorporated) Board of Directors proudly announced a dividend of $11 per share. The Board declared the checks would be mailed out before July 1, 2001.

“The Board would like to thank all present and previous Board and Management for their hard work, it has been a struggle, but diligence has paid off. We are grateful to them for their contribution in enabling us to provide this dividend to our shareholders,” said Board Chairman Sheri Buretta.

During the period of 1995 through 2000, the revenue of the corporation grew from $35 million to $220 million – an increase of over 500 percent. The financial growth was the result of Chugach’s strategy of moving into the business of government contracting. Chugach has achieved widely recognized success in the area of Base Operating Services and has earned a reputation of reliability and performance excellence. Currently, Chugach has over 47 project locations in 17 states and 6 countries with over 2,500 employees worldwide.

The Alaska Regional Native Corporation ranked 9th among Alaska Business Monthly’s top 49 Alaskan owned and operated businesses in 2000. The corporation also provides business services in the areas of construction, education, environmental services, information technology, and telecommunications.

All dividend checks will be mailed to shareholders at the address Chugach has on record in shareholder services.