The Caisse de dépôt et placement du Québec, a financial institution that manages funds for public and private pension and insurance plans and CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB), a leading provider of end-to-end information technology and business processing services, today announced the signing of a two-year information technology outsourcing contract extension valued at CDN$40 million.
The services covered by this agreement include infrastructure management, computer operations, a "one-stop service" call centre, office technology support, maintenance of a large number of business applications, and the development and integration of solutions. CGI will also act as an information technology consultant, assessing and proposing optimal solutions for the Caisse.
"Our teams have been working side-by-side since 1996 and have created, over the years, a dynamic team focused on quality and delivery. The stability of CGI and its deep knowledge of our business and way of operating has resulted in our ability to optimize the management of our projects and infrastructure," said Daniel Huard, vice-president, Information Technology at the Caisse.
Though both companies have been collaborating since 1996, this contract is an extension from what was originally signed in 2001. Today, with this extension, which is signed prior to maturity, this contract will extend until 2006.
Michael Roach, president and chief operating officer for CGI added: "We are committed to delivering quality services to our client and are proud of our long standing partnership with them."
About the Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec is a financial institution that manages funds for public and private pension and insurance plans. The Caisse strives to obtain an optimal financial return for its depositors and clients. Through CDP Capital, the leading fund manager in Canada with close to CA$130 billion of assets under management, it invests in the main liquid markets as well as in private equity and real estate. The Caisse de dépôt et placement du Québec is active mainly in North America and Western Europe. It manages its operations from its main business office in Montréal and its head office in Québec City. For more information: www.cdpcapital.com.
About CGI
Founded in 1976, CGI is the fourth 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$2.9 billion (US$1.9 billion) and at March 31, 2003, CGI's order backlog was CDN$11.2 billion (US$7.6 billion). CGI provides end-to-end IT and business process services to more than 3,500 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.
Forward-Looking Statements
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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For more information:
Caisse de dépôt et placement du Québec :
Lucie Frenière
Senior advisor, media relations
(514) 847-5949
CGI
Investor relations
Julie Creed
Vice-president, investor relations
Tel: (312) 201-4803
Ronald White
Director, investor relations
Tel: (514) 841-3230
Media relations
Eileen Murphy
Director, media relations
Tel: (514) 841-3430
