THE CANADA REVENUE AGENCY SELECTS CGI FOR KEY IT INITIATIVES
The Canada Revenue Agency, the federal body that administers tax laws and several social and economic programs delivered through the tax system, has chosen CGI Group Inc. (CGI) (TSX: GIB.SV.A; NYSE: GIB) for a multi-year, multi-million dollar contract whereby CGI will be providing consulting and systems integration services in three main business areas including, the provision of resources for IT technical and information technology (IT) applications, and the provision of IT solutions for key Agency initiatives. The initiatives pertain to service availability and improvement, data centre recoverability and electronic commerce infrastructure as well as business intelligence and decision support. For over 15 years, CGI has successfully delivered over 50 projects for the Canada Revenue Agency.
"CGI has recently expanded its know-how to include the delivery of innovative IT and business solutions specific to tax and revenue customers. The Agency can depend on CGI to deliver highly skilled professionals backed by a global organization recognized for the delivery of solid results based on implementing solutions that make business sense," said Hicham Adra senior vice president and general manager, National Capital Region, CGI.
Since contract award, CGI has successfully transitioned close to 200 consultants on this contract and has already recorded over CDN$40 million dollars in sales.
Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in India and Canada. CGI's annualized revenue run rate is currently CDN$3.8 billion (US$2.8 billion) and at September 30, 2004, CGI's order backlog was CDN$13 billion (US$10.3 billion). CGI's shares are listed on the TSX (GIB.SV.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements represent CGI Group Inc.'s intentions, plans, expectations, and beliefs, and are subject to risks, uncertainties, and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements.
These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management's Discussion and Analysis (MD&A) in CGI Group Inc.'s Annual Report or Form 40-F filed with the SEC, the Company's Annual Information Form filed with the Canadian securities authorities, as well as assumptions regarding the foregoing. The words "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", and similar expressions and variations thereof, identify certain of such forward-looking statements, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
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