The Cisco Master Managed Services Certification recognizes a solution provider's investment in the managed service ITIL processes, practices, and tools necessary to provide high-quality managed services. As a Cisco Master Managed Services certified partner, ePlus has demonstrated the ability to deliver sophisticated solutions, met stringent requirements that reflect a depth of capabilities, and undergone an independent audit by an objective third-party auditor. ePlus was also required to offer at least two managed services using the resources and procedures necessary to deploy, manage, and support Cisco solutions.

"ePlus' investment in the Cisco Master Managed Services certification ranks it among an elite group of channel partners with the resources to deploy, manage, and support services for multiple technologies," said Edison Peres, senior vice president of the worldwide channels go-to-market group at Cisco.

In addition, ePlus has achieved Cisco Powered managed service designations in Cisco Powered Managed Security and Cisco Powered Managed Unified Communications. Cisco Powered managed service designations acknowledge that a managed service provider has invested in industry-leading Cisco architectures and that its services have met the highest Cisco user-experience standards.

ePlus holds Cisco Master Specializations in Security and Unified Communications as well as Cisco Advanced Specializations in Routing and Switching, Data Center Storage Networking, Data Center Networking Infrastructure, and Wireless LAN. ePlus also holds Cisco Authorized Technology Provider (ATP) designations in Cisco TelePresence, Video Surveillance, and Data Center Unified Computing. For more information about Cisco solutions from ePlus, visit http://www.eplus.com/cisco.

About ePlus inc.

ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 625 associates in 20+ locations serving federal, municipal, and commercial customers. The Company is headquartered in Herndon, VA. For more information, visit http://www.eplus.com, call 888-482-1122, or email info@eplus.com.

ePlus(R) and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies and products mentioned herein may be the trademarks of their respective owners.

Cisco, the Cisco logo, Cisco Systems and Cisco TelePresence are registered trademarks of Cisco Systems Inc. in the United States and certain other countries.

IT Infrastructure Library(R) and ITIL(R) are Registered Trade Marks of the Office of Government Commerce in the United Kingdom and other countries.

Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from the recent financial crisis in the credit markets and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, the possibility of additional goodwill impairment charges, and restrictions on our access to capital necessary to fund our operations; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; our ability to consummate and integrate acquisitions; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to reserve adequately for credit losses; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: ePlus inc.

CONTACT:  ePlus inc.
Kleyton Parkhurst, SVP
703-984-8150
kparkhurst@eplus.com

ePlus inc. (Nasdaq:PLUS) announced today November 6, 2009 that its wholly owned subsidiary, ePlus Technology inc., has achieved the Master Managed Services Certification from Cisco(R). This certification recognizes ePlus as having attained expertise in all phases of the Cisco lifecycle methodology, described as "prepare, plan, design, implement, operate, and optimize."

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Phillip G. Norton, Chairman, President and Chief Executive Officer, said, "This quarter marked our second consecutive sequential improvement in total revenue, net income and earnings per share. I believe one of the most important reasons ePlus has sustained profitability throughout the economic downturn is that our mix of technology sales, advanced engineering services, financing, and procurement automation services provides value for our customers who seek to reduce costs and increase efficiencies. We remain focused on strengthening our customer value proposition, driving revenues, increasing margins and gaining market share."

Sales of product and services during the fiscal second quarter totaled $157.3 million, a decrease of $22.2 million or 12.4%, as compared to $179.5 million in the second quarter of the prior fiscal year. On a sequential basis, sales of product and services increased by $16.8 million or 12.0%, as compared to $140.5 million in the fiscal first quarter of 2010. The gross profit margin on product and services during the fiscal second quarter increased approximately 60 basis points to 14.6%, as compared to 14.0% for the fiscal second quarter of 2009. The increase in margin is primarily based on increased incentives provided by the Company's vendors and the mix of products and services purchased by the Company's customers.

Revenues generated in the financing business segment, which include primarily sales of leased equipment, lease revenues, and fee and other income, declined 34.3% to $10.1 million for the quarter ended September 30, 2009 as compared to the quarter ended September 30, 2008 and were largely unchanged sequentially. The decline in revenues in the financing business segment, compared to the prior year's second quarter, is attributable to a smaller balance of investment in leases and leased equipment which generates less lease revenue, and a decline in sales of leased equipment which can vary from quarter to quarter based on the Company's risk mitigation strategy.

During the quarter ended September 30, 2009, fee and other income decreased 20.2% to $2.4 million as compared to the prior fiscal year's second quarter. The decrease was primarily driven by decreases in software and related consulting revenue, agent fees from manufacturers and short-term investment income. Patent settlement and licensing income was $3.4 million during the quarter ended September 30, 2009, while no income was recorded in the same period the prior fiscal year.

Selling, general and administrative expenses, which includes professional and other fees, salaries and benefits, and general and administrative expenses, totaled $24.5 million in the fiscal second quarter of 2010, an increase of $256 thousand or 1.1%, as compared to $24.3 million in the fiscal second quarter of 2009. On a sequential basis, selling, general and administrative expenses increased by $1.3 million or 5.5% compared to the fiscal first quarter of 2010. The increased costs are attributable, in part, to higher legal expenses and fees associated with the patent litigation settlement and ongoing patent litigation expenses.

Interest and financing costs totaled $1.1 million in the fiscal second quarter of 2010, a decrease of $369 thousand or 25.2%, as compared to $1.5 million in the fiscal second quarter of 2009. Non-recourse notes payable totaled $64.6 million at September 30, 2009, a decrease of 24.0%, as compared to $85.0 million at March 31, 2009.

As of September 30, 2009, cash and cash equivalents totaled $88.3 million, as compared to $107.8 million on March 31, 2009. The reduction in cash is attributable, in part, to increases in accounts receivable from $82.7 million to $93.3 million due to a sequential increase in sales, and an increase in investments in leases and leased equipment from $119.3 million to $124.2 million, respectively, from March 31, 2009 to September 30, 2009, and a decrease in non-recourse notes payable from $85.0 million to $64.6 million from March 31, 2009 to September 30, 2009.

During the quarter ended September 30, 2009, the Company repurchased 14,858 shares of its outstanding common stock at an average cost of $15.37 per share for a total purchase price of $228 thousand.

Year-to-Date Results

For the six months ended September 30, 2009, revenues totaled $325.1 million, a decrease of $54.0 million or 14.2%, as compared to $379.1 million for the same period a year ago. Net earnings totaled $6.9 million, or $0.81 per diluted share, as compared to $10.1 million, or $1.18 per diluted share, for the six months ended September 30, 2008.

Sales of product and services totaled $297.7 million, a decrease of $47.5 million or 13.8%, as compared to $345.3 million for the six months ended September 30, 2008. The gross profit margin increased approximately 70 basis points to 14.4%, as compared to 13.6% for the same period a year ago, primarily based on increased incentives provided by the Company's vendors and the mix of products and services purchased by the Company's customers.

Revenues generated in the financing business segment, which include primarily sales of leased equipment, lease revenues, and fee and other income, declined 32.6% to $20.3 million for the six months ended September 30, 2009 as compared to the six months ended September 30, 2008. The decline in revenues in the financing business segment is attributable to a smaller balance of investment in leases and leased equipment which generates less lease revenue, and a decline in sales of leased equipment which can vary from quarter to quarter based on the Company's risk mitigation strategy.

During the six months ended September 30, 2009, fee and other income decreased 27.7% to $4.8 million, as compared to the same period the prior fiscal year. The decrease was primarily driven by decreases in software and related consulting revenue, agent fees from manufacturers and short-term investment income. Patent settlement and licensing income was $3.4 million during the six months ended September 30, 2009, while no income was recorded in the same period the prior fiscal year.

Selling, general and administrative expenses, which includes professional and other fees, salaries and benefits, and general and administrative expenses, totaled $47.8 million, a decrease of $2.3 million or 4.6%, as compared to $50.1 million in the six months ended September 30, 2008. The improvement reflects the Company's ongoing cost containment efforts offset, in part, by increased costs for higher legal expenses and fees associated with the patent litigation settlement and ongoing patent litigation expenses.

During the six months ended September 30, 2009, the Company repurchased 15,795 shares of its outstanding common stock at an average cost of $15.11 per share for a total purchase price of $239 thousand. Since the inception of its initial repurchase program on September 20, 2001, as of September 30, 2009, the Company has repurchased 3,431,449 shares of our outstanding common stock at an average cost of $10.92 per share for a total purchase price of $37.5 million.

Percentage changes stated throughout this press release are calculated on rounded numbers from the Company's financial statements (which are stated in thousands of dollars), not on the rounded numbers used herein. Investors are encouraged to read the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2009 and the Company's Form 10-Q for the quarter ended September 30, 2009. Copies are available via the Company's Website at: http://www.eplus.com, via the SEC's website at: http://www.sec.gov, or by contacting the Company.

Conference Call Information

ePlus will host a conference call at 11:00 a.m. Eastern on Monday, November 9, 2009. To participate in the call, please dial toll-free 888-224-1075 (international participants may dial 913-312-1462) and reference access code 4642097 or "ePlus inc. Earnings Results". A live webcast will be available via the Company's investor relations Website at: www.eplus.com.

A replay of the teleconference will be accessible through November 16, 2009. To access the replay, please call (toll free) 888-203-1112 or (toll) 719-457-0820 and reference access code 4642097. The webcast will also remain available for replay via the Company's investor relations Website.

Forward-Looking Statements

Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from the recent financial crisis in the credit markets and general slowdown of the U.S. economy such as our current and potential customers' delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, the possibility of additional goodwill impairment charges, and restrictions on our access to capital necessary to fund our operations; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; a decrease in the capital spending budgets of our customers; our ability to consummate and integrate acquisitions; the creditworthiness of our customers; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to reserve adequately for credit losses; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.

About ePlus inc.

ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 650 associates in 20+ locations serving more than 2,500 customers. The Company is headquartered in Herndon, VA. For more information, visit http://www.eplus.com, call 888-482-1122, or email info@eplus.com.

ePlus(R) and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries.

 ePlus inc. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (UNAUDITED)

                                             As of          As of
                                          September 30,    March 31,
                                              2009           2009
                                          ----------------------------
                                                 (in thousands)

 ASSETS

 Cash and cash equivalents                    $  88,343      $ 107,788
 Accounts receivable, net of
  allowance for doubtful                         93,317         82,734
 Notes receivable                                 2,128          2,632
 Inventories                                     11,745          9,739
 Investment in leases and leased
  equipment - net                               124,219        119,256
 Property and equipment - net                     2,714          3,313
 Other assets                                    20,393         16,809
 Goodwill                                        21,601         21,601
                                          ----------------------------
 TOTAL ASSETS                                 $ 364,460      $ 363,872
                                          ============================

 LIABILITIES AND STOCKHOLDERS' EQUITY

 LIABILITIES
 Accounts payable - equipment                 $   8,161      $   2,904
 Accounts payable - trade                        13,670         18,833
 Accounts payable - floor plan                   50,711         45,127
 Accrued expenses and other
  liabilities                                    36,850         33,588
 Income taxes payable                             3,338            912
 Recourse notes payable                             102            102
 Nonrecourse notes payable                       64,571         84,977
 Deferred tax liability                           2,957          2,957
                                          ----------------------------
 Total Liabilities                              180,360        189,400

 COMMITMENTS AND CONTINGENCIES

 STOCKHOLDERS' EQUITY

 Preferred stock, $.01 par value;
  2,000,000 shares authorized; none
  issued or outstanding                              --             --
 Common stock, $.01 par value;
  25,000,000 shares authorized;
  11,854,479 issued and 8,423,030
  outstanding at September 30, 2009
  and 11,504,167 issued and 8,088,513
  outstanding at March 31, 2009                     118            115
 Additional paid-in capital                      82,774         80,055
 Treasury stock, at cost, 3,431,449
  and 3,415,654 shares, respectively            (37,468)       (37,229)
 Retained earnings                              138,351        131,452
 Accumulated other comprehensive
  income - Foreign currency
  translation adjustment                            325             79
                                          ----------------------------
 Total Stockholders' Equity                     184,100        174,472
                                          ----------------------------
 TOTAL LIABILITIES AND STOCKHOLDERS'
  EQUITY                                      $ 364,460      $ 363,872
                                          ============================


 ePlus inc. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (UNAUDITED)

                             Three Months Ended     Six Months Ended
                               September 30,          September 30,
                           ---------------------  --------------------
                               2009      2008       2009       2008
                           ---------------------  --------------------
                               (in thousands, except share amounts)
 REVENUES

 Sales of product and
  services                  $ 157,271  $ 179,491  $ 297,721  $ 345,250
 Sales of leased
  equipment                       788      2,182      2,276      3,447
                            ---------  ---------  ---------  ---------
                              158,059    181,673    299,997    348,697

 Lease revenues                 8,884     12,211     16,959     23,836
 Fee and other income           2,372      2,974      4,779      6,611
 Patent license and
  settlement income             3,400         --      3,400         --
                            ---------  ---------  ---------  ---------
 TOTAL REVENUES               172,715    196,858    325,135    379,144
                            ---------  ---------  ---------  ---------
 COSTS AND EXPENSES

 Cost of sales, product
  and services                134,360    154,414    254,931    298,131
 Cost of sales, leased
  equipment                       779      2,034      2,189      3,260
                            ---------  ---------  ---------  ---------
                              135,139    156,448    257,120    301,391

 Direct lease costs             3,142      3,833      5,690      7,627
 Professional and other
  fees                          2,657      1,808      4,474      4,353
 Salaries and benefits         18,256     18,672     36,181     38,136
 General and
  administrative expenses       3,624      3,801      7,130      7,589
 Interest and financing
  costs                         1,098      1,467      2,403      2,952
                            ---------  ---------  ---------  ---------
 TOTAL COSTS AND EXPENSES     163,916    186,029    312,998    362,048
                            ---------  ---------  ---------  ---------

 EARNINGS BEFORE
  PROVISION FOR INCOME
  TAXES                         8,799     10,829     12,137     17,096

                            ---------  ---------  ---------  ---------

 PROVISION FOR INCOME
  TAXES                         3,801      4,409      5,238      6,983
                            ---------  ---------  ---------  ---------

 NET EARNINGS               $   4,998  $   6,420  $   6,899  $  10,113
                            =========  =========  =========  =========

 NET EARNINGS PER COMMON
  SHARE - BASIC             $    0.61  $    0.77  $    0.84  $    1.22
                            =========  =========  =========  =========
 NET EARNINGS PER COMMON
  SHARE - DILUTED           $    0.58  $    0.74  $    0.81  $    1.18
                            =========  =========  =========  =========

 WEIGHTED AVERAGE SHARES
  OUTSTANDING - BASIC       8,331,302  8,299,496  8,239,995  8,276,650
 WEIGHTED AVERAGE SHARES
  OUTSTANDING - DILUTED
                            8,547,616  8,622,562  8,480,516  8,597,896

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: ePlus inc.

CONTACT:  ePlus inc.
Kleyton Parkhurst, SVP
703-984-8150
investors@eplus.com