Total – $3,554.8

About CSC

Founded in 1959,Computer Sciences Corporation is a leadinginformation technology(IT) services company.CSC’s mission is to providecustomers in industry and government withsolutions crafted to meettheir specific challengesand enable them to profitfrom the advanced use of technology.

With approximately92,000 employees, CSCprovides innovative solutions for customersaround the world byapplying leading tech-nologies and CSC’s ownadvanced capabilities.These include systemsdesign and integration; IT and business processoutsourcing; applicationssoftware development;Web and application hosting; and managementconsulting.

Headquartered in El Segundo, California,CSC reported revenue of $12.1 billion for the 12months ended July 4, 2003.

The $4.3 billion in announced new awards for our first quarter – with nearly 90% in the commercialsector – represents the largest quarterly total in a year and a half. The last two quarters’ new awardannouncements have been very positive, totaling in excess of $8 billion, with 79% coming from the commercial sector. These recent new business awards and first-quarter performance reinforce our confidencein the remainder of fiscal 2004. Van B. Honeycutt

Chairman and Chief Executive OfficerComputer Sciences Corporation

FINANCIAL HIGHLIGHTS

Commercial58%

U.S. Federal42%

1ST QUARTER FISCAL 2004REVENUES BY MAJOR MARKET (unaudited)

First Quarter

Computer Sciences Corporation results for its fiscal 2004 first quarter included: Revenue of $3.55 billion,up 29.1% (approximately 23% in constant currency) over last year’s comparable quarter, including an impact ofapproximately 4% from the additional week in this quarter; Net income of $92.3 million after the pre-tax specialcharge of $6.2 million ($3.9 million after-tax) related to the March 7, 2003, acquisition of DynCorp; Net earningsper share (diluted) of 49 cents after the approximately 2 cents per-share after-tax impact of the special charge.

CSC’s U.S. federal government revenue was up 87.1%. This increase, attributable to the DynCorp acquisi-tion, was the primary driver of the quarter’s revenue performance. Revenues of $1.48 billion derived from theU.S. federal government exceeded $1 billion during a quarter for the first time in the company’s history andcomprised 42% of the total quarterly revenue. CSC’s European revenue, benefiting from favorable currencyexchange rate movements, also contributed to the quarter’s revenue growth.

The ongoing integration of DynCorp has been proceeding on target. Coupled with CSC’s legacy positionas a leading IT services provider to the U.S. federal government, the DynCorp acquisition has further solidifiedthe company’s role as a qualified, dependable, competent and experienced choice to support the federalgovernment’s efforts to modernize and improve the efficiencies of its agencies and departments. The current32-month federal pipeline of opportunities is approximately $38 billion.

The demand continues to be solid for global commercial IT infrastructure outsourcing. CSC’s efforts andemphasis are directed toward providing creative solutions which enhance the competitiveness and operatingefficiencies of its global commercial and government clients.

CSC’s consulting and systems integration activities in North America, while not showing a significantuplift, seem to have stabilized with a slight revenue increase in the first quarter, both sequentially and year-over-year. However, the demand for similar short-term commercial IT services in Europe and Asia remainssoft. Recent outsourcing wins in Europe have served to offset that softness, and solid European outsourcingopportunities continue to provide encouragement.

For the fiscal second quarter, ending October 3, 2003, CSC anticipates revenues will be up approximately27% to 29%, and earnings per share (diluted) will be in the 58 cents to 60 cents range. For the rest of theyear, CSC management is comfortable with the consensus revenue and earnings-per-share estimates. Thesequarterly and yearly estimates exclude any DynCorp acquisition-related special charge.

For the first quarter, CSC’s U.S. federal government revenue growth reflected the recent DynCorpacquisition impact. Revenues increased 87.1% to $1.48 billion; DoD revenues nearly doubled to $904.6 million;Revenue from CSC’s Civil agencies business rose to $575.6 million, up 80.6%.

Global commercial revenues were up 5.7% (down approximately 2% in constant currency): U.S. commer-cial revenue was $962.1 million, down 3.4%; European revenue was $819.2 million, up 20.7% (approximately2% in constant currency; CSC’s non-European international revenue was up 2.0% (down approximately8% in constant currency) to $293.3 million.

($ in millions)

U.S. Commercial – $962.1

Europe – $819.2

Other International – $293.3

U.S. DoD – $904.6

U.S. Civil Agencies – $575.6

26%

16%

8%

23%

27%

First Quarter Fiscal 2004 (Ended July 4, 2003)

Quarterly Highlights

6/28/02

$ 2,753.7

$ 79.0

$ 0.46

$ in millions, except per-share amounts

Revenues*

Net Income

Diluted Earnings Per Share

* Figures have been adjusted to conform to CSC’s current presentation.

7/4/03

$ 3,554.8

$ 92.3

$ 0.49

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All statements in this document that do not directly and exclusively relate to historical factsconstitute “forward-looking statements” within the meaning of the Private Securities LitigationReform Act of 1995. These statements represent the Company’s intentions, plans, expectationsand beliefs, and are subject to risks, uncertainties and other factors, many of which are outsidethe Company’s control. These factors could cause actual results to differ materially from suchforward-looking statements. For a description of these factors, see the section titled “Forward-Looking Statements” in the Company’s Quarterly Report on Form 10-Q for the fiscal quarterended July 4, 2003.

Printed in U.S.A. WH# CC-1Q04

CSC REVENUE GROWTHFY 1999-2003*

* CSC’s fiscal year ends the Friday closest to March 31.

INVESTMENT DATA

NYSE: CSCRecent Closing Price: 42.64 (8/22/03)52-Week Range: 24.30 – 44.08Shares Outstanding: 187.1 millionRegistered Shareholders: 11,280Institutional Ownership: 81%Average Daily Trading Volume:

1st Quarter FY 2003 – 1,695,197Market Cap: $8.0 billion

RESEARCH COVERAGE

A.G. Edwards (Greg Gieber)Bear, Stearns ( Jim Kissane)Bernstein (Rod Bourgeois)CS First Boston (Dris Upitis)Deutsche Bank (Bill Zinsmeister)Goldman Sachs (Greg Gould)J.P. Morgan Securities (Dirk Godsey)Jefferies & Co. ( Joe Vafi)Legg Mason (Bill Loomis)Lehman Brothers (Louis Miscioscia)McDonald Investments (Michael Keller)Morgan Stanley (David Togut)Prudential Securities (Bryan Keane)Scotia Capital (Peter Misek)SG Cowen & Co. (Moshe Katri)Smith Barney Citigroup (Pat Burton)SoundView ( John Jones, Jr.)Standard & Poor’s ( Richard Stice)Thomas Weisel Partners (David Grossman)UBS Warburg (Adam Frisch)U.S. Bancorp Piper Jaffray

(T. Brett Manderfeld)Value Line (George Niemond)

SHAREHOLDER SERVICES

For more information regarding CSC:

• Shareholder services and literaturerequest line – (800)542-3070

• Website – www.csc.com

• Registrar and transfer agent –Mellon Investor ServicesP.O. Box 3315S. Hackensack, New Jersey 07606(800)526 -0801 or (201)329-8660www.melloninvestor.com

• CSC Investor Relations –Bill Lackey

Director, Investor Relations (310)615-1700

Lisa RungeManager, Investor Relations(310)615-1680

Email: InvestorRelations@csc.com

• Headquarters2100 East Grand AvenueEl Segundo, California 90245, USA(310)615-0311

CSC’S SERVICES ENCOMPASS

SEVERAL BROAD AREAS

• Outsourcing – Involves operating all or a portion of a customer’s technologyinfrastructure. CSC also provides business process outsourcing, which isthe management of a client’s non-corebusiness functions.

• Consulting, Systems Integration and Professional Services – Designing,developing, implementing and integrat-ing complete information systems, aswell as advising clients on the strategicacquisition and utilization of IT.

RECENT ENGAGEMENTS INCLUDE:

• The Boeing Company – CSC has beenawarded a contract to provide mainframecomputing operations services to Boeing.Beginning in 2004, CSC will provideservices to selected Boeing facilities insupport of the Boeing Integrated DefenseSystems business unit, one of the world’slargest defense and space businesses.This award underscores CSC’s positionas the most experienced, results-drivenIT services provider of choice in theaerospace and defense market.

• ISS A/S – CSC has signed an IT outsourcing agreement with ISS A/S,a global leader in facility services.Under the terms of the agreement,CSC will assume responsibility for thefull range of IT services at more than800 ISS sites throughout Europe.

• Marconi Corporation – Marconi, aglobal telecommunications equipment,services and solutions company, hasselected CSC for an IT outsourcingagreement. CSC will support and manage Marconi’s IT help desk,desktop computing, networking andmidrange operations; develop andmaintain software applications; andprovide telecommunications services.

• Royal Mail Group – Royal Mail Group, a UK government-owned public limited company providingmail, parcels and express services,has outsourced its data centers, datanetworks and more than 600 businessapplication systems to the CSC-ledPrism alliance. This contract under-scores CSC’s experience and history of providing operational and financialresults for clients in managing highlycomplex, large-scale outsourcing programs.

• U.S. State Department – DynCorpInternational, a CSC company, wasawarded a contract from the UnitedStates Department of State to provideup to 1,000 civilian advisors to help the government of Iraq organize effective civilian law enforcement,judicial and correctional agencies.The company will also provide alllogistical, technical and administrativesupport necessary to accomplish theadvisors’ mission.

$ $ in billions12

10

8

6FY99 FY00 FY01 FY02 FY03

1ST QUARTER FISCAL 2004REVENUES BY BUSINESS SERVICES*

* Based on CSC estimates.

7%

17%

37%

39%

OUTSOURCING . . . . . . . . . . . . . . . . . . . 46%Global Commercial 39%Federal Sector 7%

CONSULTING, SYSTEMS INTEGRATIONAND PROFESSIONAL SERVICES . . . . . . . 54%

Global Commercial 17%Federal Sector 37%

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