Exhibit 99

FOR IMMEDIATE RELEASE

MATRIX SERVICE REPORTS FULLY DILUTED EARNINGS PER SHARE OF $0.22 IN THE

THIRD QUARTER OF FISCAL 2008 ENDED, FEBRUARY 29, 2008

Successfully Delivered On-time Tanks One and Two and Now More Than 92% Complete on the

Overall LNG Project in the Gulf Coast

Third Quarter 2008 Highlights:

• Revenues increased 7.4% to $181.1 million from $168.7 million a year earlier;

• Net income was $6.0 million versus $6.2 million in the third quarter a year ago;

• Gross margins widened to 11.6% from 11.2% for the third quarter a year earlier;

• Fully diluted EPS was $0.22 per share compared to $0.24 per share in the same quarter a year ago; and

• Repurchased approximately 730,000 shares during the third quarter.

Nine Month 2008 Highlights:

• Revenues were $537.2 million, an increase of 16.3% from $461.9 million for the same period in fiscal 2007; and

• Fully diluted EPS was $0.46 per share versus $0.67 per share a year earlier.

TULSA, OK – April 3, 2008 – Matrix Service Co. (Nasdaq: MTRX), a leading industrial services company, today reported its financial results for the third quarter of fiscal 2008 ended, February 29, 2008. Total revenues for the quarter rose 7.4% to $181.1 million from the $168.7 million recorded in the third quarter of fiscal 2007.

Net income for the third quarter of fiscal 2008 was $6.0 million, or $0.22 per fully diluted share, which included pre-tax charges of $2.5 million, or $0.06 per fully diluted share, related to continued cost overruns on the liquefied natural gas (LNG) construction project in the Gulf Coast Region. Despite the additional cost overrun on the project, Matrix Service was able to deliver tanks one and two to the owner on the required mechanical completion dates. The Company also continues to believe that the third and final tank will be completed on schedule.

Michael J. Bradley, president and chief executive officer of Matrix Service Company, said, “We are extremely pleased to deliver tanks one and two on time to our customer and to be more than 92% complete on our LNG project, despite the continued harsh weather conditions sustained in the region during the third fiscal quarter. We continue to see our ongoing business activity strengthen and our liquidity position remains very strong. Our net cash position stood at more than $8.0 million in spite of the LNG project and the $12.8 million spent to repurchase nearly 730,000 shares during our third quarter.”

Consolidated SG&A expenses increased $2.6 million in the third quarter of fiscal 2008 to $10.9 million from $8.3 million in the same quarter of fiscal 2007. The increase was primarily due to employee-related expenses and facility costs as the Company added staff to meet the demands of current and expected future growth domestically and in Western Canada. SG&A expense as a percentage of revenue increased to 6.0% in the third quarter of fiscal 2008 compared to 4.9% in the third quarter of fiscal year 2007.

1 – 3Q Earnings Release – April 3, 2008

EBITDA⁽¹⁾ for the third quarter of fiscal 2008 increased to $12.4 million, from $12.3 million in the same period last year. Gross margins on a consolidated basis for the current quarter widened to 11.6% from 11.2% reported in the same quarter a year ago. The increase in gross margins was driven by an improvement in the Repair and Maintenance Services segment.

Construction Services revenues for the third quarter 2008 advanced 15.7% to $119.5 million from $103.3 million in the same period a year earlier. The $16.2 million increase was primarily a result of higher Specialty revenues, where third quarter revenues were $24.0 million compared to $10.4 million a year earlier and higher Aboveground Storage Tank (AST) revenues, which improved to $51.1 million, from $42.8 million for the year-earlier period. These improvements were partially offset by Electrical and Instrumentation revenues which fell $7.2 million to $4.7 million from $11.9 million in the year-earlier period. Construction Services’ gross margins declined to 9.5% versus 10.4% in the third quarter of fiscal 2007 due primarily to the $2.5 million charge taken on the LNG project.

Repair and Maintenance Services revenues of $61.6 million were lower than the $65.4 million reported in the same quarter of 2007. The decrease was experienced in Downstream Petroleum revenues, where third quarter revenues were $19.2 million compared to $26.8 million a year earlier, and in Electrical and Instrumentation revenues, which fell to $3.4 million from $8.8 million for the year-earlier period. These declines were largely offset by Aboveground Storage Tank revenues which increased 30.5% to $38.9 million from $29.8 million in the year-earlier period. Gross margins of 15.7% for fiscal 2008 were higher than gross margins of 12.5% in fiscal 2007 resulting in gross profit increasing 18.0%.

Nine Month Results

For the nine months ended, February 29, 2008, consolidated revenues increased 16.3% to $537.2 million from $461.9 million recorded in the year-earlier period.

Net income for the nine month period was $12.5 million, or $0.46 per fully diluted share, which included pre-tax charges of $20.0 million, or $0.44 per fully diluted share related to the LNG construction project discussed earlier. In addition, these results reflect additional pre-tax charges of $1.8 million related to a customer who filed bankruptcy and non-recurring employee benefit costs.

EBITDA⁽¹⁾ for the nine months ended, February 29, 2008 was $26.5 million, down 23.0% from $34.4 million in the year earlier period. Consolidated gross margins decreased to 9.5% from 11.7% a year earlier due primarily to charges taken on the LNG project.

Consolidated SG&A expenses increased $6.1 million in fiscal 2008 to $30.8 million from $24.7 million for fiscal 2007. The increase was primarily due to employee-related expenses and facility costs resulting from the cost of additional hires and related benefits to meet the demands of current and expected future growth domestically and in Western Canada. SG&A expense as a percentage of revenue increased to 5.7% in fiscal 2008 compared to 5.3% in the prior fiscal year as the 16.3% growth in revenues largely offset the increase in SG&A expenses.

(1) The Company uses EBITDA (earnings before net interest, income taxes, depreciation and amortization) as part of its overall assessment of financial performance by comparing EBITDA between accounting periods. Matrix believes that EBITDA is used by the financial community as a method of measuring the Company’s performance and of evaluating the market value of companies considered to be in similar businesses. EBITDA should not be considered as an alternative to net income or cash provided by operating activities, as defined by accounting principles generally accepted in the United States (“GAAP”). A reconciliation of EBITDA to net income is included at the end of this release.

2 – 3Q Earnings Release – April 3, 2008

Revenues for the Construction Services segment rose 27.0% to $334.6 million from $263.4 million for the nine months ending, February 28, 2007. The increase was primarily due to higher construction work in Downstream Petroleum, where revenues for the nine month period increased 44.1% to $112.8 million versus $78.3 million for the same period last year. The increase was also driven by higher Aboveground Storage Tank activity, which increased 25.0% to $148.9 million in the recent nine month period compared to $119.1 million a year earlier and by higher Specialty revenues, which gained 43.7% to $60.8 million in the recent nine month period compared to $42.3 million in the same period a year earlier. These increases were partially offset by Electrical and Instrumentation revenues which fell $11.6 million. Gross margins in the Construction Services segment were 5.4% versus 10.8% in the prior year-to-date period due primarily to charges of $20.0 million taken on the LNG project.

Revenues for Repair and Maintenance Services improved $4.1 million, or 2.1%, to $202.6 million, for the nine month period ending, February 29, 2008, from $198.5 million for the same period in 2007. The increase was due to higher Aboveground Storage Tank revenues, which rose 39.2% to $124.9 million, versus $89.7 million for the same nine month period last year, and was largely offset by lower Downstream Petroleum revenues, which fell 25.4% to $66.6 million in the nine month period from $89.3 million in the same period last year, and by Electrical and Instrumentation revenues, which fell $8.4 million to $11.1 million in the nine month period from $19.5 million in the same period last year. Gross margins were 16.3% versus 12.9% a year earlier.

Mr. Bradley added, “Business continues to be strong particularly in the Aboveground Storage Tank and Downstream Petroleum industries, which experienced a combined year-over-year revenue increase of more than 20%. Backlog stood at $484.6 million at February 29, 2008, with new awards of nearly $562 million through the first nine months of this fiscal year. In the Aboveground Storage Tank, Downstream Petroleum, and Electrical and Instrumentation industries, we have seen backlog growth of nearly $73 million, or 18.4% from May 31, 2007 to February 29, 2008. Recently, we renewed a refinery maintenance contract, which is expected to generate revenues in excess of $150 million over the next three years and added a new alliance agreement associated with our work in Aboveground Storage Tanks.”

Mr. Bradley continued, “We see a strong finish to our fiscal year. We expect revenue to be between $720 million and $740 million, and expect to see annual gross margins in the range of 10% to 11% and annual SG&A expense in the range of 5.5% to 6.0% of revenue.”

Conference Call Details

In conjunction with the press release, Matrix Service will host a conference call with Michael J. Bradley, president and CEO. The call will take place at 11:00 a.m. (EDT)/10:00 a.m. (CDT) today and will be simultaneously broadcast live over the Internet at www.matrixservice.com or www.vcall.com. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The online archive of the broadcast will be available within one hour of completion of the live call.

About Matrix Service Company

Matrix Service Company provides general industrial construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries.

The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities located in Oklahoma, Texas, California, Michigan, Pennsylvania, Illinois, Washington, and Delaware in the U.S. and in Canada.

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including the possibility of further overruns or delays on the Company’s Gulf Coast LNG project and those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company’s operations and its financial condition. We undertake no obligation to update information contained in this release.

3 – 3Q Earnings Release – April 3, 2008

For more information, please contact:

Matrix Service Company	Investors and Financial Media:
Mike Bradley	Trúc Nguyen
President and CEO	The Global Consulting Group
T: 918-838-8822	T: 646-284-9418
E: mjbradley@matrixservice.com	E: tnguyen@hfgcg.com

4 – 3Q Earnings Release – April 3, 2008

Matrix Service Company

Consolidated Statements of Operations

(In thousands, except share and per share data)

	Three Months Ended						Nine Months Ended
	February 29, 2008			February 28, 2007			February 29, 2008			February 28, 2007
	(unaudited)						(unaudited)
Revenues	$	181,120		$	168,700		$	537,181		$	461,925
Cost of revenues		160,119			149,776			486,030			407,792
Gross profit		21,001			18,924			51,151			54,133
Selling, general and administrative expenses		10,905			8,253			30,792			24,686
Operating income		10,096			10,671			20,359			29,447
Other income (expense):
Interest expense		(183	)		(475	)		(760	)		(1,980	)
Interest income		26			79			57			137
Other		52			(24	)		89			278
Income before income taxes		9,991			10,251			19,745			27,882
Provision for federal, state and foreign income taxes		3,989			4,101			7,197			10,650
Net income	$	6,002		$	6,150		$	12,548		$	17,232
Basic earnings per common share	$	0.23		$	0.27		$	0.47		$	0.76
Diluted earnings per common share	$	0.22		$	0.24		$	0.46		$	0.67
Weighted average common shares outstanding:
Basic		26,464			23,103			26,561			22,533
Diluted		26,870			26,788			27,033			26,623

5 – 3Q Earnings Release – April 3, 2008

Matrix Service Company

Consolidated Balance Sheets

(In thousands)

	February 29, 2008			May 31, 2007
	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	8,270		$	9,147
Accounts receivable, less allowances (February 29, 2008 - $264 and May 31, 2007 - $260)		112,634			98,497
Costs and estimated earnings in excess of billings on uncompleted contracts		40,398			45,634
Inventories		4,438			4,891
Income tax receivable		1,580			—
Deferred income taxes		4,354			3,283
Prepaid expenses		2,545			2,910
Other current assets		1,903			929
Total current assets		176,122			165,291
Property, plant and equipment at cost:
Land and buildings		24,002			23,405
Construction equipment		44,275			39,958
Transportation equipment		15,688			14,380
Furniture and fixtures		11,557			10,116
Construction in progress		6,724			1,788
		102,246			89,647
Accumulated depreciation		(48,305	)		(43,654	)
		53,941			45,993
Goodwill		23,506			23,357
Other assets		3,583			8,268
Total assets	$	257,152		$	242,909

6 – 3Q Earnings Release – April 3, 2008

Matrix Service Company

Consolidated Balance Sheets

(In thousands, except share data)

	February 29, 2008			May 31, 2007
	(unaudited)
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	51,165		$	52,144
Billings on uncompleted contracts in excess of costs and estimated earnings		47,822			34,243
Accrued insurance		7,235			6,422
Accrued wages and benefits		12,859			15,442
Income tax payable		—			956
Current capital lease obligation		998			753
Current portion of acquisition payable		2,817			2,712
Other accrued expenses		926			1,313
Total current liabilities		123,822			113,985
Long-term capital lease obligation		568			836
Deferred income taxes		4,060			2,512
Stockholders’ equity:
Common stock—$.01 par value; 60,000,000 shares Authorized and 27,888,217 shares issued as of February 29, 2008 and May 31, 2007		279			279
Additional paid-in capital		107,317			104,408
Retained earnings		35,950			23,422
Accumulated other comprehensive income		1,717			967
		145,263			129,076
Less: Treasury stock, at cost – 1,891,600 and 1,297,466 shares as of February 29, 2008 and May 31, 2007		(16,561	)		(3,500	)
Total stockholders’ equity		128,702			125,576
Total liabilities and stockholders’ equity	$	257,152		$	242,909

7 – 3Q Earnings Release – April 3, 2008

Results of Operations

	Construction Services			Repair & Maintenance Services		Other			Combined Total
	(In thousands)
Three Months Ended February 29, 2008
Gross revenues	$	123,186		$	62,165	$	—		$	185,351
Less: Inter-segment revenues		3,644			587		—			4,231
Consolidated revenues		119,542			61,578		—			181,120
Gross profit		11,359			9,642		—			21,001
Operating income (loss)		5,141			5,061		(106	)		10,096
Income (loss) before income tax expense		5,015			5,082		(106	)		9,991
Net income (loss)		3,007			3,057		(62	)		6,002
Segment assets		155,939			80,550		20,663			257,152
Capital expenditures		2,837			542		1,412			4,791
Depreciation and amortization expense		1,384			833		—			2,217
Three Months Ended February 28, 2007
Gross revenues	$	106,174		$	65,730	$	—		$	171,904
Less: Inter-segment revenues		2,853			351		—			3,204
Consolidated revenues		103,321			65,379		—			168,700
Gross profit		10,752			8,172		—			18,924
Operating income (loss)		6,221			4,450		—			10,671
Income (loss) before income tax expense		5,987			4,264		—			10,251
Net income (loss)		3,595			2,555		—			6,150
Segment assets		121,022			78,762		21,468			221,252
Capital expenditures		1,121			988		550			2,659
Depreciation and amortization expense		981			683		—			1,664
Nine Months Ended February 29, 2008
Gross revenues	$	345,646		$	202,570	$	—		$	551,216
Less: Inter-segment revenues		11,052			2,983		—			14,035
Consolidated revenues		334,594			202,587		—			537,181
Gross profit		18,193			32,958		—			51,151
Operating income (loss)		(204	)		20,588		(25	)		20,359
Income (loss) before income tax expense		(704	)		20,474		(25	)		19,745
Net income (loss)		(5	)		12,567		(14	)		12,548
Segment assets		155,939			80,550		20,663			257,152
Capital expenditures		6,743			3,084		3,291			13,118
Depreciation and amortization expense		3,615			2,415		—			6,030
Nine Months Ended February 28, 2007
Gross revenues	$	271,036		$	199,541	$	—		$	470,577
Less: Inter-segment revenues		7,603			1,049		—			8,652
Consolidated revenues		263,433			198,492		—			461,925
Gross Profit		28,571			25,562		—			54,133
Operating income (loss)		15,121			14,372		(46	)		29,447
Income (loss) before income tax expense		14,185			13,743		(46	)		27,882
Net income (loss)		8,767			8,493		(28	)		17,232
Segment assets		121,022			78,762		21,468			221,252
Capital expenditures		5,314			2,923		1,199			9,436
Depreciation and amortization expense		2,676			2,019		—			4,695

8 – 3Q Earnings Release – April 3, 2008

Segment Revenue from External Customers by Industry Type

	Construction Services		Repair & Maintenance Services		Total
	(In thousands)
Three Months Ended February 29, 2008
Aboveground Storage Tanks	$	51,109	$	38,901	$	90,010
Downstream Petroleum		39,740		19,236		58,976
Electrical and Instrumentation		4,705		3,441		8,146
Specialty		23,988		—		23,988
Total	$	119,542	$	61,578	$	181,120
Three Months Ended February 28, 2007
Aboveground Storage Tanks	$	42,786	$	29,793	$	72,579
Downstream Petroleum		38,240		26,788		65,028
Electrical and Instrumentation		11,892		8,798		20,690
Specialty		10,403		—		10,403
Total	$	103,321	$	65,379	$	168,700
Nine Months Ended February 29, 2008
Aboveground Storage Tanks	$	148,908	$	124,933	$	273,841
Downstream Petroleum		112,791		66,583		179,374
Electrical and Instrumentation		12,116		11,071		23,187
Specialty		60,779		—		60,779
Total	$	334,594	$	202,587	$	537,181
Nine Months Ended February 28, 2007
Aboveground Storage Tanks	$	119,137	$	89,686	$	208,823
Downstream Petroleum		78,327		89,269		167,596
Electrical and Instrumentation		23,666		19,537		43,203
Specialty		42,303		—		42,303
Total	$	263,433	$	198,492	$	461,925

9 – 3Q Earnings Release – April 3, 2008

Non-GAAP Financial Measures

EBITDA is a supplemental, non-generally accepted accounting principle (GAAP) financial measure. EBITDA is defined as earnings before net interest expense, taxes, depreciation and amortization. We have presented EBITDA because it is used by the financial community as a method of measuring our performance and of evaluating the market value of companies considered to be in similar businesses. We believe that the line item on our consolidated statements of operations entitled “net income (loss)” is the most directly comparable GAAP measure to EBITDA. Since EBITDA is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, net earnings as an indicator of operating performance. EBITDA, as we calculate it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure is not necessarily a measure of our ability to fund our cash needs. As EBITDA excludes certain financial information compared with net income (loss), the most directly comparable GAAP financial measure, users of this financial information should consider the type of events and transactions, which are excluded. Our non-GAAP performance measure, EBITDA, has certain material limitations as follows:

• It does not include net interest expense. Because we have borrowed money to finance our operations, interest expense is a necessary and ongoing part of our costs and has assisted us in generating revenue. Therefore, any measure that excludes interest expense has material limitations.

• It does not include taxes. Because the payment of taxes is a necessary and ongoing part of our operations, any measure that excludes taxes has material limitations.

• It does not include depreciation and amortization expense. Because we use capital assets to generate revenue, depreciation and amortization expense is a necessary element of our cost structure. Therefore, any measure that excludes depreciation and amortization expense has material limitations.

A reconciliation of EBITDA to net income follows:

	Three Months Ended				Nine Months Ended
	February 29, 2008		February 28, 2007		February 29, 2008		February 28, 2007
	(In thousands)				(In thousands)
Net income	$	6,002	$	6,150	$	12,548	$	17,232
Interest expense, net		157		396		703		1,843
Provision for income taxes		3,989		4,101		7,197		10,650
Depreciation and amortization		2,217		1,664		6,030		4,695
EBITDA	$	12,365	$	12,311	$	26,478	$	34,420

10 – 3Q Earnings Release – April 3, 2008

Non-GAAP Financial Measures (Continued)

Revenues, gross profit, gross margins, SG&A and operating income before special items (and the related amounts per share), which are non-GAAP financial measures, exclude certain pre-tax charges for the fiscal 2008 that management believes affect the comparison of results for the periods presented. Management also believes that results excluding these items are useful in evaluating operational trends for Matrix Service and its performance relative to its competitors.

A reconciliation of these categories before special items follows:

	Actual			LNG Construction Project			Bankrupt Customer Charge			Non-Recurring Employee Benefit Costs			Before Special Items
Three Months Ended February 29, 2008
Consolidated
Revenues	$	181,120		$	(20,453	)	$	—		$	—		$	160,667
Gross Profit		21,001			2,500			—			—			23,501
Gross Margin %		11.6	%		—			—			—			14.6	%
SG&A		10,905			—			—			—			10,905
Operating Income		10,096			2,500			—			—			12,596
Construction Services
Revenues	$	119,542		$	(20,453	)	$	—		$	—		$	99,089
Gross Profit		11,359			2,500			—			—			13,859
Gross Margin %		9.5	%		—			—			—			14.0	%
SG&A		6,218			—			—			—			6,218
Operating Income (loss)		5,141			2,500			—			—			7,641
Nine Months Ended February 29, 2008
Consolidated
Revenues	$	537,181		$	(54,164	)	$	—		$	—		$	483,017
Gross Profit		51,151			20,000			—			500			71,651
Gross Margin %		9.5	%		—			—			—			14.8	%
SG&A		30,792			—			(975	)		(358	)		29,459
Operating Income		20,359			20,000			975			858			42,192
Construction Services
Revenues	$	334,594		$	(54,164	)	$	—		$	—		$	280,430
Gross Profit		18,193			20,000			—			290			38,483
Gross Margin %		5.4	%		—			—			—			13.7	%
SG&A		18,397			—			(975	)		(222	)		17,200
Operating Income (loss)		(204	)		20,000			975			512			21,283

11 – 3Q Earnings Release – April 3, 2008