ENGlobal Corporation

ENGlobal (formerly Industrial Data Systems Corporation) (AMEX: ENG), founded in June 1994, has four wholly owned operating subsidiaries: IDS Engineering, Inc., Constant Power Manufacturing, Thermal, and Petrocon Engineering, Inc., a Texas- based engineering support services company that IDSC acquired in 2001 in exchange for 9,800,000 shares of IDS. IDSC had revenues of over $22 million in 2001 on net income of $982,000. Petrocon, acquired late in 2001, generated 2001 revenues of approximately $70 million.

Engineering services is ENGlobal's predominant business segment, providing 64.5% of the Company's revenue and 71.8% of its gross profits in 2001. IDS Engineering, Inc. (IED), which makes up the engineering segment, operates in Texas and Oklahoma. The engineering services segment generates revenues by providing engineering consulting services to the pipeline and process divisions of major integrated oil and gas companies. These services include the development, management and turnkey execution of engineering projects, including procurement, construction, and management (EPC) activities.

The engineered systems segment is responsible for approximately 16.2% of the total revenue contributing to the gross profits 8.8%. Constant Power Manufacturing, Inc. (CPM), in the engineered systems segment, was purchased in 1998. CPM fabricates industrial grade uninterruptible electrical power systems and battery chargers.

The manufacturing segment consists of another wholly owned subsidiary, Thermal Corp. (Thermal) that provided approximately 19.3% of the Company's revenue and 19.4% of the gross profits for 2001. The Company acquired Thermal in 1997, which manufactures air handling equipment for commercial heating, ventilation, and cooling systems.

Petrocon, was formed in 1988 and provides engineering services and engineered systems to a broad range of industrial, commercial and institutional clients throughout the United States and internationally. Petrocon is the parent of five wholly owned operating subsidiaries: RPM Engineering, Inc., was acquired by Petrocon in October 1996; Petrocon Construction Resources, Inc., was formed in 1994; Petrocon Systems, Inc., was formed in 1991; Triangle Engineers and Constructors, Inc, was acquired by Petrocon in 1996; and Petrocon Engineering of Louisiana, Inc., was formed in 1998. Petrocon's multi-disciplined expertise enables it to offer its clients broad design and engineering solutions, extending from project inception through completion, including start-up and operation, within multiple industries and across diverse geographic markets.

The Company's name changed on June 17 to ENGlobal Corporation.