MAJOR FINANCIAL INSTITUTIONS RENEW COMMITMENT TO CGI’S BANKING AND INVESTMENT SOLUTIONS
CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB;), a leading provider of information technology (IT) and business process services, today announced the signing of a number of key multi-year contracts valued at a total of CDN$39.4 million. Major Canadian financial institutions and wealth management companies have chosen to continue their partnership with CGI for its banking and investment solutions namely StarBase, Prime Suite and StarQuote Pro. These solutions will be used by CGI's clients Canada-wide, supporting their institutional and investor services for their wealth management businesses.
Michael Roach, president and chief operating officer of CGI added: "We are very proud to have such strategic clients rely on our banking and investment solutions to fuel their teams with data and intelligence that is in turn used, on a day-to-day basis, to help them make important investment decisions. Increasingly, the financial services sector is seeking solid IT partners to help them grow their business through the use of technology."
Supplying over 15,000 desktops with over 50 million market news items and quotes per day, CGI is one of Canada's largest news & information disseminators to the retail and institutional financial services industry providing solutions to 70% of the IDA (Investment Dealers Association) member firms. CGI's technology also manages over 9 million fund accounts conducting 50 million transactions annually.
StarBase , offered on an Application Service Provider (ASP) basis, provides a complete solution of investment funds record keeping, customer support and business recovery services within in a single, cost-effective business solution.
Prime Suite is a comprehensive set of enterprise software modules designed to cost-effectively manage all order management aspects of a broker/dealer's investment fund business.
StarQuote Pro is a customizable interface that provides real-time quotes, dynamic market books, news, trend alerts and a powerful analytical charting application all integrated on one screen.
Founded in 1976, CGI is the fifth largest independent information technology services firm in North America, based on its headcount. CGI and its affiliated companies employ 20,000 professionals. CGI's annualised revenue run-rate is currently CDN$2.8 billion (US$1.9 billion) and at September 30, 2003, CGI's order backlog was CDN$12.3 billion (US$9.1 billion). CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, United States and Europe. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the TSX 100 Composite Index as well as the S&P/TSX Canadian Information Technology and Canadian 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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