News Release:

WidePoint Q1 Revenue Up 42% to
$10.1M; Second Consecutive Quarter of
Positive Net Income

Company Cites Healthy Cash Flow and Growing Adoption of Services

Conference Call Today at 4:30 p.m.

Washington D.C., – May 18, 2009 — WidePoint Corporation (NYSE AMEX: WYY), a leading provider of advanced information technology, identity assurance and protection and mobile telecom expense management services, announced today its financial results for the first quarter ended March 31, 2009.

First Quarter 2009 Financial Highlights:

• Revenue increased approximately 42% to $10.1 million vs. $7.2 million in Q1 ’08

• Income from operations (excluding amortization, depreciation, and stock compensation expense) of approximately $551,000 vs. Q1 ’08 loss of $156,000

• Net income of approximately $129,000 on a fully diluted basis vs. a loss of $863,000 in Q1 ’08

• Debt reduction of $2.2 million

• Working capital improved approximately $332,000 to $3,047,000

Management Comment

WidePoint CEO Steve Komar said, “We were pleased with the financial performance in the first quarter of 2009. Each of our segments realized internally generated growth, with revenue gains in our Mobile Telecom Managed Services (MTMS), PKI (Public Key Infrastructure) Credentialing and Managed Services and Consulting segments.

“Our MTMS services revenue grew 42% to approximately $6.4 million as a result of continued adoption by U.S. government agencies and departments. Our PKI credentialing services segment was up 85% to $1.4 million as we continued to witness the implementation of several federally sponsored programs. Our Consulting services segment witnessed revenue growth of approximately 25% to $2.4 million as we saw a bottoming and signs of a turnaround in demand from both government and commercial clients,” Komar said.

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WidePoint CFO Jim McCubbin said, “We were pleased with the revenue growth and margin improvements we witnessed during the first quarter of 2009. While we anticipate these trends should continue, we could possibly experience some unevenness in future quarters attributable to delivery timeframes controlled by our external partners and clients. We were also pleased to see another quarter of profitability along with working capital improvements that included the payoff of approximately $2.2 million dollars in subordinated debt during the quarter. Overall, we continue to maintain a positive outlook for further revenue growth and positive financial improvements in 2009.”

WidePoint will hold a conference call with CEO Steve Komar, CFO Jim McCubbin and Dan Turissini, Vice President, CTO and CEO of Operational Research Consultants, Inc., today, May 18, at 4:30 p.m. EDT. The call will cover the company’s quarterly results. To participate, call 1-877-941-9205 any time after 4:20 p.m. ET on May 18, 2009. International callers should dial 1-480-629-9835.

About WidePoint
WidePoint is a leading provider of advanced information technology products and services including identity assurance and information management and protection services, forensic informatics and wireless technology services. WidePoint has several wholly owned subsidiaries holding major contracts, Operational Research Consultants, Inc. (ORC), iSYS, LLC, Protexx, and WidePoint IL. WidePoint enables organizations to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements. For more information, visit http://www.widepoint.com.

An investment profile about WidePoint may be found at http://www.hawkassociates.com/profile/wyy.cfm.

For investor relations information regarding WidePoint, visit http://www.hawkassociates.com and http://www.americanmicrocaps.com, or contact Frank Hawkins, Hawk Associates, at 305-451-1888, e-mail: widepoint@hawkassociates.com. To receive notification of future releases via e-mail, subscribe at http://www.hawkassociates.com/about/alert/.

Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; (iv) the declaration and payment of dividends; and (v) the risk factors disclosed in the Company’s periodic reports filed with the SEC. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk factors disclosed in the company’s Forms 10-K and 10-Q filed with the SEC.

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WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

	March 31,			December 31,
	2009			2008
Assets	(unaudited)
Current assets:
Cash and cash equivalents	$	4,344,744		$	4,375,426
Accounts receivable		6,196,772			5,282,192
Unbilled accounts receivable		1,179,249			2,301,893
Prepaid expenses and other assets		214,633			267,666
Total current assets		11,935,398			12,227,177
Property and equipment, net		381,657			431,189
Goodwill		8,575,881			8,575,881
Intangibles, net		2,019,360			2,236,563
Other assets		106,959			110,808
Total assets		23,019,255		$	23,581,618
Liabilities and stockholders’ equity
Current liabilities:
Related party note payable	$	--		$	2,140,000
Short term note payable		53,052			97,158
Accounts payable		5,431,310			2,465,394
Accrued expenses		1,310,005			2,548,106
Deferred revenue		1,500,239			1,667,969
Short-term portion of long-term debt		495,006			486,707
Short-term portion of capital lease obligation		98,652			107,141
Total current liabilities		8,888,264			9,512,475
Deferred income tax liability		196,113			156,891
Long-term debt, net of current portion		992,156			1,117,230
Deferred rent, net of current portion		5,964			--
Capital lease obligation, net of current portion		73,579			95,248
Total liabilities	$	10,156,076		$	10,881,844
Stockholders’ equity:
Common stock, $0.001 par value; 110,000,000 shares authorized; 58,305,514 and
58,275,514 shares issued and outstanding, respectively		58,306			58,276
Stock warrants		38,666			38,666
Additional paid-in capital		67,229,238			67,194,788
Accumulated deficit		(54,463,031	)		(54,591,956	)
Total stockholders’ equity		12,863,179			12,699,774
Total liabilities and stockholders’ equity	$	23,019,255		$	23,581,618

The accompanying notes are an integral part of these consolidated statements.

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WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months Ended March 31,
	2009			2008
	(unaudited)
Revenues, net	$	10,135,382		$	7,150,565
Cost of revenues (including amortization and depreciation
of $243,136 and $213,906, respectively)		8,092,280			6,046,302
Gross profit		2,043,102			1,104,263
Sales and marketing		229,466			165,703
General and administrative (including SFAS 123R stock
compensation expense of $30,730 and $371,702, respectively)		1,536,271			1,680,274
Depreciation expense		43,007			37,315
Income (Loss) from operations		234,358			(779,029	)
Interest income		14,088			15,942
Interest expense		(80,299	)		(99,573	)
Net income (loss) before income tax	$	168,147		$	(862,660	)
Deferred income tax expense		39,222			--
Net income (loss)	$	128,925		$	(862,660	)
Basic earnings (loss) per share	$	0.002		$	(0.016	)
Basic weighted average shares outstanding		58,294,514			54,033,687
Diluted earnings (loss) per share	$	0.002		$	(0.016	)
Diluted weighted average shares outstanding		59,302,205			54,033,687

The accompanying notes are an integral part of these consolidated statements.

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WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31,
	2009			2008
	(unaudited)
Cash flows from operating activities:
Net income (loss)	$	128,925		$	(862,660	)
Adjustments to reconcile net income (loss) to
net cash provided by operating
activities:
Deferred income tax expense		39,222			--
Depreciation expense		57,258			50,114
Amortization expense		228,885			201,107
Amortization of deferred financing costs		842			2,143
Stock options expense		30,730			371,702
Changes in assets and liabilities
Accounts receivable and unbilled accounts receivable		208,064			1,554,121
Prepaid expenses and other current assets		53,033			(109,545	)
Other assets		15,007			24,424
Accounts payable and accrued expenses		1,593,103			747,736
Deferred revenue		(167,730	)		274,390
Net cash provided by
operating activities	$	2,187,339		$	2,253,532
Cashflows from investing activities:
Purchase of subsidiary, net of cash
acquired		--			(4,901,745	)
Purchase of property and equipment		(7,726	)		(27,523	)
Software development costs		(11,682	)		--
Net cash used in investing
activities	$	(19,408	)	$	(4,929,268	)
Cashflows from financing activities:
Borrowings on notes payable		--			3,800,000
Principal payments on notes payable		(2,160,205	)		(609,471	)
Principal payments under capital lease
obligation		(30,158	)		(28,711	)
Proceeds from exercise of stock options		3,750			14,400
Cost related to renewal fee for line of credit		(12,000	)		--
Costs related to financing purchase of
subsidiary		--			(13,713	)
Net cash (used in) provided by
financing activities	$	(2,198,613	)	$	3,162,505
Net (decrease) increase in cash	$	(30,682	)	$	486,769
Cash and cash equivalents, beginning of period	$	4,375,426		$	1,831,991
Cash and cash equivalents, end of period	$	4,344,744		$	2,318,760

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Supplementary Information:
Promissory Note issued for iSYS acquisition	$	--	$	2,000,000
Value of 1.5 million common shares issued as
consideration in the acquisition of iSYS	$	--	$	1,800,000
Cash paid for interest	$	228,416	$	43,400

The accompanying notes are an integral part of these consolidated statements.

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