Total – $3,591.2

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 more than 92,000employees, CSC providesinnovative solutions forcustomers around theworld by applying leadingtechnologies and CSC’sown advanced capabili-ties. 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 $13.0 billion for the 12months ended July 4, 2003.

Our results for the second quarter continue to track to our expectations. We have completed a solid first sixmonths of the current fiscal year. Our commitment to continue to provide premier services to the U.S. fed-eral government, exemplified by the March acquisition of DynCorp, has played a major role in our strongrevenue growth over the past six months.

Van B. HoneycuttChairman and Chief Executive OfficerComputer Sciences Corporation

FINANCIAL HIGHLIGHTS

Commercial58%

U.S. Federal42%

2ND QUARTER FISCAL 2004REVENUES BY MAJOR MARKET (unaudited)

CSC results for its fiscal 2004 second quarter included: Revenue of $3.59 billion, up 32% (approximately28% in constant currency) over last year’s second quarter; Net income of $108.1 million after the pre-taxspecial charge of $9.2 million ($5.7 million after tax) related to the March 7, 2003, DynCorp acquisition;Earnings per share (diluted) of 57 cents after the approximately 3 cents per-share impact of the specialcharge; and announced major new business awards were $3.5 billion.

The 29-month federal pipeline of opportunities currently stands at approximately $41 billion, evenlydivided between DoD and civil agencies. Importantly, approximately $15 billion in federal contracts is sched-uled to be awarded over the remainder of CSC’s fiscal 2004. The market for global commercial IT infrastruc-ture services continues to be firm, especially in Europe. During the first two quarters of the current fiscalyear, CSC has announced $4.6 billion in commercial awards. Together with the $2.6 billion in commercialawards for the March quarter, commercial awards during the last nine months were $7.2 billion of the $11.6billion total -- an indicator of solid contributions to future revenue.

Demand for short-term commercial consulting and systems integration services continues to be mixed,depending to a large degree on specific geographic market conditions. CSC’s North American short-termproject activities seem to have stabilized, but softness in Europe and Asia Pacific persists. The strength ofCSC’s commercial outsourcing business in Europe during the quarter more than offset the reduced discre-tionary spending which normally fuels demand for global consulting and systems integration activity.

For the third quarter of fiscal 2004, ending January 2, 2004, CSC management believes revenues will be inthe $3.6 billion range, and earnings per share (diluted) will be in the 68 cents to 70 cents range. CSC remainscomfortable with the consensus revenue and earnings-per-share estimates for the full year. These quarterlyand annual estimates exclude any further DynCorp acquisition-related special charge.

For the second quarter, revenue derived from CSC’s U.S. federal government activities continued toreflect the positive impact of the recent DynCorp acquisition. Revenues increased to $1.52 billion, up 97%from last year. Revenues generated from CSC’s DoD related activities more than doubled to $984.6 millionfrom last year’s second quarter. CSC’s civil agencies revenue was $534.6 million, up 65.8% from the compara-ble quarter last year.

Global commercial revenues were up 6.3% (approximately 1% in constant currency) to $2.07 billioncompared with last year’s second quarter. U.S. commercial revenue was $932.0 million, down 1.9%. Europeanrevenue was $851.9 million, up 21.1% (approximately 11% in constant currency) compared to last year.Global commercial and European revenue were the beneficiaries of meaningful new outsourcing activitiesand favorable currency exchange rate movements. CSC's non-European international revenue declined 2.3%(down approximately 13% in constant currency) to $288.1 million from last year's second quarter.

($ in millions)

U.S. Commercial – $932.0

Europe – $851.9

Other International – $288.1

U.S. DoD – $984.6

U.S. Civil Agencies – $534.6

Second Quarter Fiscal 2004 (Ended October 3, 2003)

Quarterly Highlights

Second Quarter

9/27/02

$ 2,720.1

$ 92.9

$ 0.54

$ in millions, exceptper-share amounts

Revenues*

Net Income

Diluted EarningsPer Share

10/3/03

$ 3,591.2

$ 108.1

$ 0.57

Six Months Ended

9/27/02

$ 5,473.8

$ 171.9

$ 1.00

10/3/03

$ 7,146.0

$ 200.4

$ 1.06

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

27%

15%

8%24%

26%

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 October 3, 2003.

Printed in U.S.A. WH# CC-2Q04

CSC REVENUE GROWTHFY 1999-2003*

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

INVESTMENT DATA

NYSE: CSCRecent Closing Price: 41.69 (11/19/03)52-Week Range: 26.52 – 44.99Shares Outstanding: 187.3 millionRegistered Shareholders: 12,022Institutional Ownership: 81%Average Daily Trading Volume:

2nd Quarter FY 2004 – 1,241,531Market Cap: $8.0 billion

RESEARCH COVERAGE

A.G. Edwards (Timothy Willi)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)Merrill Lynch (Jennifer Dugan)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.

• IT & 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:

• Ascension Health – Ascension Health,the largest U.S. nonprofit health system,has selected CSC for an IT outsourcingcontract. CSC was chosen because of itscommitment to Ascension associatestransitioning to CSC, and CSC’s historyof helping healthcare organizationsachieve real business results through thestrategic and efficient application oftechnology solutions.

• Maybank – CSC and Malayan BankingBerhad (Maybank), Malaysia’s largestbanking group, signed an IT outsourcingagreement under which CSC will providecomprehensive computing services toMaybank in Malaysia and Singapore.The agreement is expected to showcaseCSC’s ability to leverage its globalstrengths and experience, along with thedelivery capabilities of local affiliates, toprovide business and operational resultsfor clients.

• Providian – Under an IT outsourcingagreement signed with Providian Financial Corporation, CSC will assume responsibility for Providian’sdesktop, help desk, server, securityadministration, e-mail, and voice anddata network infrastructure functions.CSC was selected because it offers the most compelling value propositionthat aligns with Providian’s strategicobjectives.

• U.S. Air Force – CSC was one of sixcompanies selected to support the U.S.Air Force under the Air Force Informa-tion Warfare Center's Engineering andTechnical Services Support II contracts.Under the terms of the award, CSC willprovide professional, engineering andother services. This contract signifiesthe reputation CSC’s has earned in theintelligence community for providingexperienced professionals who produceresults.

• U.S. Army – CSC has been awarded acontract to provide simulator-basedflight training and related aviationtraining support activities to the U.S.Army Aviation Center at Ft. Rucker,Alabama. Under the contract CSC willhelp the Army maximize its use of hightechnology training methodologies andvirtual flight simulators to enhancetraining effectiveness and significantlyreduce costs.

$ $ in billions12

10

8

6FY99 FY00 FY01 FY02 FY03

FIRST SIX MONTHS FISCAL 2004REVENUES BY BUSINESS SERVICE*

* Based on CSC estimates.

OUTSOURCING . . . . . . . . . . . . . . . . . . . 45%Global Commercial 40%U.S. Federal Sector 5%

IT & PROFESSIONAL SERVICES . . . . . . . . 55%Global Commercial 18%U.S. Federal Sector 37%

40%

5%

37%

18%